1010 Vermont Avenue, N.W Update 01/23/24

Hall Structured Finance Originates a $30M Loan for Construction of Mint House DC

Dallas-based HALL Structured Finance (HSF) announced today that it has originated a $30.25 million construction loan for the development of a Mint House, an executive apartment project in Washington, DC. The developer is Altus Realty, a real estate investment and development firm based in Arlington, Virginia.

Altus Realty, who led the acquisition of the property in 2022, will convert an existing 11-story, 68,000- square-foot structure – formerly an office building, into 85 high-end executive suite apartment units to be operated by Mint House. Located at 1010 Vermont Avenue, the building is walking distance from the White House and DuPont Circle and one block from a Metro station. Mint House Washington, DC is slated to open in 2025.

“1010 Vermont is an exceptional office conversation opportunity in the heart of downtown D.C. and we are excited to start construction despite the market headwinds,” said Altus Realty Partner Gordon Fraley. “We are thrilled to partner with Mint House and look forward to opening in spring 2025.”

Building amenities will include a fitness center, meeting space, café and lounge. Each apartment-style hospitality unit, ranging from studios to two-bedrooms, will be equipped with a kitchen, living and dining areas, and ample workspace

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