Cain and Eldridge Industries Secure $4.3B Financing for One Beverly Hills Mixed-Use Development
BEVERLY HILLS, Calif. — One Beverly Hills, a 17.5-acre luxury mixed-use real estate development, has closed $4.3 billion in commercial real estate financing to complete its construction, the project's sponsors announced March 23, 2026. The transaction, led by J.P. Morgan and VICI Properties Inc. (NYSE: VICI), ranks among the largest of its kind in the past decade, according to the development team.
The financing is sponsored by Cain in partnership with Eldridge Industries and will fund the completion of a mixed-use development that includes hospitality real estate, luxury residential towers, retail real estate, and expansive open space in the heart of Beverly Hills.
Commercial Real Estate Financing Structure
The capital stack comprises two tranches: a $2.8 billion senior loan led by J.P. Morgan and a $1.5 billion mezzanine loan provided by VICI Properties. No additional loan terms, interest rates, or recourse details were disclosed.
"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," 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. 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."
VICI Properties CEO Ed Pitoniak also commented on the transaction. "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," Pitoniak said. "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."
One Beverly Hills: Hospitality and Retail Real Estate at Scale
Spanning 17.5 acres, One Beverly Hills will introduce Aman's first urban hotel, residences, and private members' club on the West Coast. The development will connect a refurbished Beverly Hilton — the longtime home of the Golden Globes and the Milken Global Conference — with the adjacent Waldorf Astoria Beverly Hills, while providing 1,800 underground parking spaces. The site will include 10 acres of gardens and open space.
Residential offerings range from 2,550-square-foot two-bedroom units to 25,000-square-foot penthouses with views of the Pacific Ocean, Hollywood Hills, and downtown Los Angeles. The development team reported significant sales momentum in the first Aman-branded residential tower ahead of the financing close.
Aman operates across 20 countries, with 15 of its resorts and residential developments located within or close to UNESCO-protected sites. One Beverly Hills represents the brand's first urban West Coast outpost.
On the retail real estate front, the development has secured commitments from Dolce & Gabbana, which is expanding its Beverly Hills presence; Casa Tua Cucina, marking the Italian-market dining concept's first West Coast location; and Los Mochis, a 12,000-square-foot indoor-outdoor Mexican-Japanese restaurant that will feature Los Angeles' first fusion omakase.
Real Estate Development Timeline and Economic Impact
Construction on the project commenced in 2024, with vertical works beginning in autumn 2025. Phased delivery is 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, according to the development team.
"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."