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Real Estate - AUGUST 10, 2017

Inland Residential Trust purchases The Verandas at Mitylene in Montgomery

by Andrea Waitrovich

Inland Residential Properties Trust has acquired The Verandas at Mitylene, a 332-unit, gated community, apartment complex in Montgomery, Ala.

Constructed in 2007, The Verandas at Mitylene consists of 14 three-story buildings containing a total of 24 one-bedroom, 248 two-bedroom and 60 three-bedroom units. As of June 30, 2017, the property was approximately 91 percent leased.

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