One Beverly Hills Lands More Than $4 Billion in Financing

A long-gestating Beverly Hills megaproject just locked in a hefty tranche of construction financing.

One Beverly Hills, a 17.5-acre mixed-use development anchored by Aman-branded residences and a revamped Beverly Hilton, closed $4.3 billion in financing to complete construction, its developers announced in a press release on Monday.

The package includes a $2.8 billion senior loan led by JPMorgan Chase and a $1.5 billion mezzanine loan from Vici Properties. The funding is among the largest deals of its kind over the past decade.

Cain, in partnership with Eldridge Industries, is developing the project, set to rise at 10000 Wilshire Boulevard. Foster + Partners is masterplanning the project, with Kerry Hill Architects designing the Aman-branded elements of the development and local firm RIOS handling landscape architecture.

Once complete, One Beverly Hills will stitch together the Beverly Hilton and Waldorf Astoria Beverly Hills into one campus featuring Aman’s first West Coast outpost, including an Aman hotel, two new branded condo towers and a private members’ club.

Plans also call for high-end retail and dining, wellness concepts and roughly 10 acres of landscaped open space as well as an 1,800-space subterranean parking garage. Four acres of the open space will be reserved for condo residents and 4.5 acres will be open to the public.

Sales momentum might have been a key driver behind the financing. The first Aman residential tower has already notched strong sales with units ranging from roughly 2,500-square-foot condos to 25,000-square-foot penthouses. Developers have also lined up a roster of luxury tenants including Dolce & Gabbana, Casa Tua Cucina and Los Mochis.

“It’s a big deal,” Cain CEO Jonathan Goldstein said, according to Bloomberg. “You don’t often come along with $4.3 billion construction facilities, but then you don’t often come along with a piece of land in Beverly Hills like this.”

Construction on One Beverly Hills began in 2024 with vertical development starting last fall. The development is expected to start opening in phases in 2028. It’s expected to generate roughly $40 billion in local economic activity over three decades and create more than 2,700 construction jobs.

— Chris Malone Méndez