June 7, 2017 Comments Off on $220M Portals V Commences Next Phase in Washington, D.C. Views: 659 National News, Northeast

$220M Portals V Commences Next Phase in Washington, D.C.

Washington, D.C.-based Republic Properties Corporation broke ground on the $220-million Portals V Residential Building at the principal gateway where the 14th Street Bridge enters Washington, D.C.’s Monumental Core and Downtown. The affiliate of the Republic Family of Companies also secured $170 million in construction debt financing from CapitalSource and Parse Capital.

The landmark Portals Residential Building will be the next to the last phase of the more than $1-billion Portals project, which is planned for three-million square feet, and already includes the Mandarin Oriental Hotel and three Class A office buildings.

The Portals V building includes 373 rental apartments on 14 levels. Many units offer balconies and terraces affording views of the Jefferson Memorial, the U.S. Capitol and the Potomac River. Features also include a sky terrace level with multiple glassed-in living and meeting rooms, and an Infinity edge pool.

CBRE’s Capital Markets Group handled the financial structuring.

Read more at Republic Properties

Connect With Republic Properties

Subscribe to Connect Daily National

For comments, questions or concerns, please contact Dennis Kaiser

Tags: ,

Comments are closed.

Send this to a friend