WASHINGTON, DC-The new Mandarin Oriental, Washington, DC has celebrated what can be likened to a debutante’s coming out party with a recent opening celebration centering on a charity gala event. The new 400-room property was used as a backdrop for a fundraising event to benefit the Association of Hole in the Wall Camps. It took approximately $150 million to complete the hospitality property, which carries the distinction of the first five-star hotel in the District.

The Mandarin Oriental boasts a waterfront locale overlooking the Tidal Basin in the southwest section of Washington, DC. In addition to its 400 luxury guestrooms, the hotel also features a 10,400-sf spa, and over 33,000 sf of meeting space, including a 5,000-sf outdoor event space. The hotel is part of the upscale mixed-use development known as the Portals.

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

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

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.