One Beverly Hills has finalized $4.3 billion in financing to complete its large-scale mixed-use development in Beverly Hills, California, marking one of the largest real estate financings of its kind in the past decade. The project, backed by Cain in partnership with Eldridge Industries, is positioned as a high-end urban destination combining hospitality, residential, retail, and wellness offerings.
The financing package includes a $2.8 billion senior loan led by J.P. Morgan and a $1.5 billion mezzanine loan provided by VICI Properties. The development spans 17.5 acres and will integrate Aman-branded residences, a hotel, and a private members’ club alongside an upgraded Beverly Hilton and connections to the Waldorf Astoria Beverly Hills.
The project will feature approximately 10 acres of gardens and open space, along with 1,800 underground parking spaces. Residential offerings include units ranging from 2,550 square feet to 25,000 square feet penthouses, with views of the Pacific Ocean, Hollywood Hills, and downtown Los Angeles. The Aman brand will introduce its first urban residences on the West Coast as part of the development.
Retail and dining components are expected to include globally recognized brands such as Dolce & Gabbana, Casa Tua Cucina, and Los Mochis, which will bring a Mexican-Japanese fusion dining concept to Los Angeles.
Construction on the project began in 2024, with vertical development starting in late 2025. The first phase of delivery is scheduled for 2028. Over a 30-year period, the project is projected to generate approximately $40 billion in local economic activity and support more than 2,700 construction jobs.
The development is masterplanned by Foster + Partners, with architectural contributions from Kerry Hill Architects and landscape design led by RIOS.
KEY QUOTES:
“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. 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.”
Jonathan Goldstein, Co-founder and CEO of Cain
“Los Angeles sits at the intersection of culture, hospitality, sport and entertainment. 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.”
Todd Boehly, Chairman and CEO of Eldridge Industries
“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. 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.”
Ed Pitoniak, CEO of VICI Properties
