J.P Morgan, Vici Lend $4.3B for One Beverly Hills Completion
By Andrew Coen March 23, 2026 11:35 am
reprints
Billions in new financing will help raise some Cain in Beverly Hills.
A joint venture led by Cain in partnership with Eldridge Industries secured $4.3 billion of construction financing to complete its One Beverly Hills 17.5-acre mixed-use development that will feature hotel, retail and residential space.
J.P. Morgan Chase provided a $2.8 billion senior loan while Vici Properties supplied $1.5 billion of mezzanine debt for the $5.2 billion project.
“This transaction is indicative of the confidence the market has in our vision for One Beverly Hills,” Jonathan Goldstein, co-founder and CEO of Cain, said in a statement. “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.”
Ed Pitoniak, CEO of Vici Properties, said in a statement that he has strong “conviction in the strength of high-end experiences in world-leading destinations.”
Vici also provided a $300 million investment in One Beverly Hills early last year.
Construction of One Beverly Hills commenced in late 2024 and is slated for phased-in completion in 2027. The development will ultimately include two residential towers, a renovation of the 570-key Beverly Hilton Hotel and a new 10-story Aman Beverly Hills featuring a hotel and condominiums. It will also include new retail and 10 acres of “garden oasis” parks.
“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,” Todd Boehly, chairman and CEO of Eldridge Industries, said in a statement.
J.P. Morgan declined to comment.
Andrew Coen can be reached at acoen@commercialobserver.com.
