The Mandarin Oriental boasts a waterfront locale overlooking theTidal Basin in the southwest section of Washington, DC. In additionto its 400 luxury guestrooms, the hotel also features a 10,400-sfspa, and over 33,000 sf of meeting space, including a 5,000-sfoutdoor event space. The hotel is part of the upscale mixed-usedevelopment known as the Portals.

Republic Properties Corp. is behind the development of thePortals, and played a part in the development of the hotel, alongwith Mandarin Oriental International Ltd., Lano International Inc.and Armada/Hoffler Construction Co. The official owner, as perDistrict property records, is Portals Hotel Site LLC, which lists aVirginia Beach, VA address identical to that of Armada/Hoffler.

The city played a big part in helping to make the hotel areality; DC issued $46 million in tax increment financing revenuebonds for the project. The TIF bonds yielded net proceeds ofapproximately $35 million. Mandarin Oriental International Ltd.provided $19 million for the project, and syndicated bankfacilities of Westdeutsche Landesbank Girozentrale provided theremaining $85 million in financing.