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1010 Vermont Avenue Northwest

Hall Structured Finance Grants $30.25M Loan For Office Building Conversion In Washington, D.C
FINANCEDOffice

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.

Players

Craig Hall

HALL Structured Finance

Lender

$76.3M

vol

3 deals

Lender
HALL Structured Finance
HALL Structured FinanceLender

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