Hall Structured Finance Grants $30.25M Loan For Office Building Conversion In Washington, D.C
1010 Vermont Avenue Northwest
$30,250,000
$444/SF
Building Size
67,997 SF
Asset Type
Office
Closing
Jan 18, 2024
AI
A $30.25 million loan has been granted by Hall Structured Finance to support the transformation of a 67,997-square-foot office building located at 1010 Vermont Ave. in Washington, D.C.'s DuPont Circle neighborhood. The building will be converted into 85 apartment units called the Mint House.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $30,250,000
- Address: 1010 Vermont Avenue Northwest, Washington, DC
- Market: Washington, DC
- Asset Type: Office
- Square Footage: 67,997
Craig Hall of HALL Structured Finance acted as the lender for the $30.25 million loan.
Washington Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.52%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93