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1500 K Street Northwest, Wa...

ACRES Capital Provides $12.85M Loan For Office Building At 1010 Vermont Avenue NW, Washington, D.C
FINANCEDOffice

ACRES Capital Provides $12.85M Loan For Office Building At 1010 Vermont Avenue NW, Washington, D.C

1500 K Street Northwest, Washington, District Of Columbia 20005, United States

$82,100,000

$313/SF

Building Size

262,190 SF

Asset Type

Office

Closing

Aug 21, 2022

AI

The office property located at 1010 Vermont Avenue NW in Washington, D.C has recently undergone a closed transaction involving a loan.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: $12,850,000
  • Square Footage: 4,081 SF
  • Address: 1010 Vermont Avenue NW, Washington, D.C
  • Market: Washington, D.C

The loan for this property was provided by ACRES Capital, with Drew Miller representing the lender. Altus Realty serves as the landlord for this office space. The brokers involved in this transaction were Lindsay Stroud from Savills.

Players

Nicholas Seidenberg

Eastdil Secured

Broker

$257.1M

vol

2 deals

Broker
Helaba
HelabaLender

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

0.19%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93