One Beverly Hills, which includes the new Aman Beverly Hills and The Beverly Hilton, finalizes $4.3 billion financing to complete its development of the mixed-use urban destination and residences in Beverly Hills, Calif. The financing, led by J.P. Morgan and VICI Properties Inc,, is among the largest of its kind in the last decade, according to Cain.
Spanning 17.5 acres, One Beverly Hills will introduce Aman’s first urban residences, hotel and members’ club to the West Coast, along with retail, hospitality, wellness and leisure concepts set within 10 acres of gardens and open space. The development, sponsored by Cain in partnership with Eldridge Industries, will connect a refurbished Beverly Hilton and Waldorf Astoria Beverly Hills, as well as provide 1800 underground parking spaces.
“This transaction is indicative of the confidence the market has in our vision for One Beverly Hills. We are delighted to be working with J.P. Morgan and VICI, two of the most respected institutions in global real estate and capital markets,” Jonathan Goldstein, co-founder and CEO of Cain, said in a statement. “The demand we are seeing from residential buyers and global brands speaks to the rarity of this project, the strength of our hospitality partners and the enduring appeal of the Beverly Hills market. Together with our partners and the City of Beverly Hills, we look forward to delivering one of the most exceptional real estate destinations in North America.”
“Los Angeles sits at the intersection of culture, hospitality, sport and entertainment,” said Todd Boehly, chairman and CEO of Eldridge Industries. “We have long believed in Beverly Hills and the broader Los Angeles market, and in its ability to attract global demand and long-term capital. This project reflects that conviction, and we are proud to support a development that invests in the community and contributes to the city’s next chapter.”
Construction began in 2024, with vertical works beginning in autumn 2025 and phased delivery scheduled to commence from 2028. The project is expected to generate approximately $40 billion in local economic activity over 30 years and support more than 2,700 direct construction jobs.
The financing comprises a $2.8 billion senior loan led by J.P. Morgan and a $1.5 billion mezzanine loan from VICI.
“We are enthusiastic about the expansion of our partnership with Cain and Eldridge Industries through a truly unique, place-based development project in One Beverly Hills,” said Ed Pitoniak, CEO of VICI Properties. “VICI shares our partners’ conviction in the strength of high-end experiences in world-leading destinations, and we look forward to continuing to grow our strategic relationship with Cain and Eldridge Industries for years to come.”