Morehouse College alumnus Truman N. Tolefree ’02 and his firm, Intersection Realty Group, have generously donated $200,000 to establish the Truman Tolefree and Intersection Realty Group Commercial Real Estate Finance Academy (the “Tolefree Academy”), a new program designed to prepare students for internships and careers in commercial real estate while developing the next generation of industry investors, leaders, and owners.
The Tolefree Academy will be housed within the Morehouse Real Estate Institute. It will offer rising Morehouse Men and Atlanta University Students intensive training in the technical and analytical aspects of commercial real estate finance, investment, development, and asset management, connecting them with industry mentors and creating a pipeline to lucrative careers in the field.
The Tolefree Academy also aims to ensure that the future of urban corridors is shaped by those who understand the power of ethical revitalization and community wealth creation. Its launch represents an important milestone in the Morehouse Real Estate Institute’s mission to diversify the global commercial real estate industry and develop new pathways for Black wealth creation.
According to a recent Federal Reserve’s May 2026 Financial Stability Report, the U.S. commercial real estate market was valued at $22.1 trillion as of the fourth quarter of 2025, making it the fourth-largest asset market in the U.S. following equities, residential real estate, and Treasury securities.
“We want talented young people, particularly people of color, to see themselves not only working in the industry, but also leading firms and having the confidence to believe that they belong in rooms where major investment and development decisions are being made,” said Tolefree, Co-Founder and Managing Principal of Intersection Realty Group and a 23-year veteran executive in the commercial real estate industry.
“Commercial real estate sits at the intersection of finance, business, community development, and public policy. The industry helps to shape neighborhoods, create jobs, influence housing access, and drive economic growth,” Tolefree added. “However, historically, many communities of color have participated more as consumers of real estate rather than as owners, developers, investors, or capital allocators. I want to help change that.”
Across the country, Black professionals remain significantly underrepresented in commercial real estate leadership. Today, fewer than 2% of senior executive roles in the industry are held by Black professionals. Of the more than 112,000 private commercial real estate firms in the United States, fewer than 450 are majority Black-owned. Intersection Realty Group and Truman Tolefree are part of a small group helping to change that reality. “My work at Intersection Realty Group is grounded in creating value for our investors while helping broaden pathways for people of color to participate and succeed in careers in commercial real estate,” he said. “Supporting the Academy is a meaningful extension of that commitment.”
Tolefree said his path into the industry is intertwined with his Morehouse journey. He entered Morehouse to pursue a degree in finance and took a real estate finance class that paved the way to his future. His professor later referred him for a job when a Morehouse alumnus called searching for new talent.
“Morehouse gives you the technical skills and expertise to know that you don't just need to be a spectator, but that you can be a player in the industry,” he said. “The faculty, staff, and alumni network at Morehouse have been hugely influential in my career. It was a Morehouse Alum, Jeff Lawrence, who gave me my start in the industry, and I feel a deep personal responsibility and obligation to follow his example. It is one of the reasons that inspired me to give back.”
In 2003, Tolefree left investment banking in New York to work with Lawrence (Morehouse ’89) as a real estate financial analyst at Prudential Financial in Chicago, IL. He later joined the Real Estate Capital Market Group at LaSalle Bank before serving as Principal and Director of Acquisitions and Dispositions for Morgan Communities for six years. In 2020, he launched his own firm, Intersection Realty Group, as an entrepreneur.
Tolefree has an MBA in Corporate Finance and a graduate minor in Real Estate Finance & Development (School of Hotel Administration) from Cornell University. He will draw on his years of commercial real estate experience to support the new finance academy, which will offer the following programs and initiatives:
Tolefree’s gift supports the “Making Men of Consequence” Campaign for Morehouse College, and its efforts to increase funding for innovative academic programs offered at Centers and Institutes, among other institutional priorities. The Tolefree Academy will serve as a critical engine for social mobility. By placing graduates in high-earning career tracks, Morehouse ensures its alumni will have the financial freedom to lead lives of global consequence.
"We are deeply grateful to Truman Tolefree and Intersection Realty Group for this transformative investment in Morehouse,” said Richard Ammons, Interim Vice President of Institutional Advancement at Morehouse College. “By equipping our students with the knowledge of equity, debt, asset management, and real estate finance, they are doing more than preparing young men for successful careers—they are empowering them to build wealth, create opportunity, and become owners, investors, and leaders in an industry where their representation is urgently needed."