Cain International Secures $300M Investment For $5.2B One Beverly Hills Development

One of the largest privately funded projects in the nation just got another big chunk of money. 

Cain International secured a $300 million investment from Vici Properties and Eldridge Industries for One Beverly Hills, a $5.2 billion mixed-use, luxury development in Beverly Hills, Calif., that will span 17.5 acres and include new hospitality, retail, and residential space. 

The investment — which is structured as a mezzanine loan — inaugurates Cain’s “new strategic relationship” with Vici and Eldridge, the firm said. Vici funded the investment through its own cash and by drawing down on an existing revolving credit facility.

Jonathan Goldstein, co-founder & CEO of Cain International, told CO that this investment is “the first step in a relationship between ourselves and Vici,” and added that the new funding is part of a larger $5.2 billion capitalization of the project. 

“They’re a leader in experiential real estate, we’re thrilled to partner up with them and their CEO — that’s the most important part,” said Goldstein. “Vici and others who are committed to the project will see that [financing] come to fruition in the next few weeks. The $300 million is an important sign of the confidence people have in the development of the project.” 

Last year, CO reported that Cain International secured $2 billion in construction financing — including a $500 million senior loan from J.P. Morgan — to begin building the massive luxury resort development. 

Construction began last February on the enormous development that will eventually include two residential towers — soon to be the tallest buildings in all of Beverly Hills — a renovation of the 570-room Beverly Hilton Hotel, and construction of Aman Beverly Hills, a 10-story, luxury hotel and residence under the Aman brand. 

The broader mixed-use project will include new on-site retail and dining, as well as 10 acres of “garden oasis” parks, which will devote 5.5 acres to a private botanical gardens for Aman residents and hotel guests, and 4.5 acres of green space open to the public. 

Goldstein called the multifaceted development “a beacon for luxury, wellness and security across North America and the world,” adding that he’s most excited about “the sheer quality of what we’re developing.”

“The breadth of demand from retailers to residential, the quality of hotels being developed, the great public spaces and public park lands we’re giving back to the general public over time — 

it’s at the cutting edge of luxury, and I think people will really enjoy it when it’s finished,” said Goldstein.  

The first stage is due to be completed in 2027, while most of the project is scheduled to be finished in time for the 2028 Summer Olympics in Los Angeles. 

Brian Pascus can be reached at bpascus@commercialoberver.com