One Beverly Hills has secured $4.3bn in financing to complete its development in central Beverly Hills, California, US.
The funding round, led by J.P. Morgan with significant participation from VICI Properties, consists of a $2.8bn senior loan and a $1.5bn mezzanine loan from VICI.
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This transaction is among the largest development financings in the sector over the past decade.
The project, sprawling over a 17.5-acre site, will deliver Aman’s first urban residences, hotel and club on the US West Coast, integrated with retail, hospitality, wellness and leisure facilities set amid ten acres of gardens and open space.
The master plan connects the existing Beverly Hilton, a frequent venue for high-profile events, and Waldorf Astoria Beverly Hills, alongside provisions for 1,800 underground parking spaces.
Cain is sponsoring the development in partnership with Eldridge Industries, with master planning by Foster + Partners.
Construction began in 2024. Vertical works are set to start in autumn 2025, with phased openings beginning in 2027.
Over a planned 30-year period, the project is projected to generate approximately $40bn in local economic impact and support more than 2,700 construction jobs.
The first Aman-branded residential tower at One Beverly Hills has already recorded significant sales activity, offering units ranging from two-bedroom residences to expansive penthouses with city and ocean views.
The wider site will also host a variety of hospitality and retail brands, including Dolce&Gabbana and Casa Tua Cucina’s first West Coast location, as well as a Los Mochis restaurant.
VICI Properties’ expanded involvement through the $1.5bn mezzanine loan increases its total commitment to One Beverly Hills to $1.5bn, up from a previous $450m investment.
This move further develops VICI’s strategic relationship with Cain and Eldridge Industries.
The companies have agreed in principle to continue this partnership through an experiential cross-capital venture (ECCV), aiming to collaborate on future experiential investment opportunities after maturity of the current financing.
The initial term of VICI’s mezzanine loan is four years with an optional one-year extension; capital deployment will occur monthly across this period using available cash resources.
Cain co-founder and CEO Jonathan Goldstein said: “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.”
In June 2025, Turner Construction Company announced its appointment as the overall site manager for the One Beverly Hills development.
