One Beverly Hills, featuring Aman Beverly Hills and The Beverly Hilton, has secured a $4.3 billion-financing to complete its development of a mixed-use urban destination and residential enclave. The financing, led by J.P. Morgan and VICI Properties Inc., is among the largest of its kind in the last decade.
Spanning 17.5 acres, the development, sponsored by Cain in partnership with Eldridge Industries, will connect a refurbished Beverly Hilton – home of the Golden Globes and the Milken Global Conference – and Waldorf Astoria Beverly Hills, as well as provide 1,800 underground parking spaces.
“This transaction is indicative of the confidence the market has in our vision for One Beverly Hills,” said Jonathan Goldstein, co-founder and CEO of Cain. “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.”
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