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Inland Residential Properties to sell Montgomery, Ala., apartments for $41M

Inland Residential Properties, through a subsidiary, agreed to sell the Verandas at Mitylene multifamily property in Montgomery, Ala., for about $40.5 million to B&M Development Co. LLC.

The multifamily real estate investment trust acquired the property at 8850 Crosswind Dr. for about $36.6 million in 2017.