One Beverly Hills, a planned mix-use complex in Beverly Hills, California, has finalized $4.3bn in financing to complete its development.
The financing was led by J.P. Morgan and VICI Properties Inc. and is among the largest of its kind in the last decade, according to a company release. Spanning 17.5 acres, One Beverly Hills will include 200,000sq ft of retail and hospitality space situated throughout 10 acres of gardens and open space. There will also be a subterranean parking garage with room for 1.800 cars.
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. In addition, it will introduce Aman’s first urban residences (ranging from 2,550sq ft two-bedrooms to 25,000sq ft penthouses with sweeping views) hotel and members’ club to the West Coast. (Aman has a portfolio that spans 20 countries, with 15 of its resorts and residential developments located within or close to UNESCO-protected sites.)
“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,” said Jonathan Goldstein, Co-Founder and CEO of Cain. “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.”
Masterplanned by Foster + Partners, the development features Aman-branded elements from Kerry Hill Architects. Landscape architecture is being led by RIOS. Construction of One Beverly Hills started in 2024, with phased openings expected to begin in 2028.
