Intersection Realty Group (IRG), a private commercial real estate investment firm focused on the acquisition and management of industrial properties and market-rate multifamily apartment communities, today announced that with the acquisition of the Montclare Apartment Portfolio, within the last month it has acquired a portfolio of assets valued at approximately $100 million. With properties located in New York, Illinois and Indiana, this latest acquisition increases the size of the company’s portfolio to more than 1 million square feet, cementing IRG as a growing leader in private commercial real estate investment.
Founded in 2020 by Truman Tolefree and Chase Chavin, who have more than 40 years of industry experience combined, IRG acquires stabilized and value‐add Class B industrial properties and Class B/workforce multifamily apartment communities located in liquid primary and secondary markets with an eye toward steady growth and excellence in operations and asset management. IRG will oversee day‐to‐day asset management and operations of the largely occupied portfolio.
“IRG is rapidly growing our portfolio by acquiring assets with sound fundamentals in stable and growing markets. Further, by focusing on off‐market opportunities, we are able to source deals where we believe there is a dislocation between contract value and market value. When combined with favorable capital market conditions, these acquisitions offer an attractive risk adjusted return for our investors,” said Truman Tolefree, founder and managing principal at Intersection Realty Group. “These investments fit squarely within our investment strategy, and we’re excited to welcome them into our growing family of assets.”
Prior to founding Intersection Realty Group, Tolefree was a principal and the director of acquisitions and dispositions at Morgan Communities, where he was directly responsible for the acquisition of 42 apartment communities totaling more than $1.2 billion in value. An honors graduate of Morehouse College with a degree in finance, he holds his MBA with a concentration in corporate finance from the Cornell University Johnson Graduate School of Management with a graduate minor in real estate finance and development from the Cornell School of Hotel Administration.
