BOCA RATON, Fla., Nov. 10, 2015 — Penn-Florida Companies announced today the firm's plans for a new Mandarin Oriental hotel and branded residences at Via Mizner, an upscale mixed-use development currently under construction in Boca Raton, Florida. Located on the high-profile corner of Camino Real and US-1, the hotel and residences will bring together renowned architecture with the legendary service of Mandarin Oriental to redefine modern living in Boca Raton. Upon completion in late 2017, Via Mizner will provide the only Five-Star hotel experience in Boca Raton, the only hotel-branded residences in Palm Beach County, and one of a select few Mandarin Oriental residential projects in the world.

The project is being developed by Florida-based Penn-Florida Companies, an owner and full-service developer of luxury real estate for nearly 30 years. "Penn-Florida is excited to be partnering with Mandarin Oriental to create a hotel and residences that will set new standards of luxury and sophistication in Boca Raton," said Mark A. Gensheimer, the Company's President and CEO. "Via Mizner will be one of the premiere mixed-used projects in the country and Mandarin Oriental will raise the bar for hospitality and contemporary living in South Florida," he said.

SB Architects, known for site-sensitive design at some of the world's top resorts, residential and mixed-use destinations, has been selected for the hotel and residential components of the project. "The design will reflect a sense of sophisticated, urban resort living that pays tribute to the Mediterranean-influenced architectural heritage of Addison Mizner, for which the City is particularly well-known," said Scott Lee, President and Principal of SB Architects.

Surrounded by some of the most affluent residential neighborhoods in the United States, and steps from miles of pristine beaches, Via Mizner comprises three towers in Boca Raton's bustling Downtown. Construction of the first residential tower, a 366-unit upscale apartment building, is well underway with anticipated delivery in the first quarter of 2016. The development includes a collection of high-end boutique shops and trendy restaurants as well as a world-class private club offering social, fitness and championship golf amenities.

Mandarin Oriental, Boca Raton will feature 164 well-appointed rooms and suites, all with magnificent ocean or city views, and designed in a sophisticated and contemporary style with exacting attention to detail that is reflective of the Group's oriental heritage. The Residences at Mandarin Oriental Boca Raton will be located in an adjoining tower, connected by sky bridge to the hotel, and will provide 100 of the most luxurious and desirable condominiums in South Florida.

"The fusion of SB Architects modernist vision with the unrivalled service and legacy of the Mandarin Oriental is a rare offering, unmatched in South Florida. Via Mizner has been distinctively designed with intent – to unite expertly curated residential, retail and entertainment components that create a vibrant experience for residents and visitors alike," said Gensheimer.

Mandarin Oriental, Boca Raton will offer some of the finest dining in the region including a signature rooftop restaurant, with an outdoor terrace and bar affording spectacular ocean, golf course and city views. There will also be a chic lobby lounge, a Mandarin Oriental cake shop, and a spacious club lounge. Extensive banqueting and meeting space will include an expansive 4,500-square-foot ballroom and a variety of adaptable conference rooms.

In keeping with the Group's award-winning spa concepts, a spacious Spa at Mandarin Oriental will offer holistic rejuvenation and relaxation, together with a state-of-the-art fitness centre and rooftop pool that offers uninterrupted ocean views.

"We are delighted to be opening a new luxury hotel in south Florida's key tourism and commercial district, and look forward to bringing Mandarin Oriental's legendary levels of hospitality to this exciting project," said Edouard Ettedgui, Group Chief Executive of Mandarin Oriental. "This new development complements the award-winning Mandarin Oriental, Miami, and will provide a sophisticated and elegant retreat for guests and residents alike," he added.

In-line with the long-standing tradition of excellence synonymous with the Mandarin Oriental name, the one-, two-, three-, and four-bedroom residences will offer all of the unparalleled, premier amenities and full-service lifestyle one would associate with a property operated by Mandarin Oriental."The high-end residential market has been anxiously awaiting a property of this calibre in this area for some time. This type of branded, amenitized opportunity does not exist in Boca Raton or even Palm Beach County, at any price," said Howard Lorber, Chairman of Douglas Elliman, the exclusive sales and marketing agent for The Residences at Mandarin Oriental, Boca Raton. Sales are slated to begin in late November.