Intersection Realty Group Acquires Montclare Apartment Portfolio In New York, Illinois & Indiana For $100M With Truman Tolefree
New York City, New York, United States
$100,000,000
$100/SF
Building Size
1,000,000 SF
Asset Type
Industrial
Closing
Dec 15, 2021
AI
The Montclare Apartment Portfolio, consisting of industrial, office, and multifamily properties totaling approximately 1,000,000 square feet, has been sold. The transaction took place in New York, Illinois, and Indiana.
Summary of Transaction Details
- Property Type: Industrial, Office, Multifamily
- Transaction Amount: $100,000,000
- Market: New York, Illinois & Indiana
The buyer, Intersection Realty Group (IRG), represented by Truman Tolefree, successfully acquired the Montclare Apartment Portfolio.
New York Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93