Beverly Hills Mixed-Use Complex Nabs $4.3B in Financing

Developers of One Beverly Hills, a planned mix-use develop that will include 200,000 square feet of retail space, announced the project has landed $4.3 billion in financing to complete its development. The funding package for the high-profile Southern California site was led by J.P. Morgan and VICI Properties Inc.

Slated for completion in 2028, backers say the 17.5-acre development will include a Dolce&Gabbana, which also operates a store on nearby Rodeo Drive; a Casa Tua Cucina, the first West Coast outpost of the Italian-market dining concept; and a Los Mochis, a 12,000-square-foot indoor/outdoor Mexican-Japanese restaurant. In all, the complex will be able to accommodate 40-plus more dining and retail spots.

“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 developer Cain, which is partnering with Eldridge Industries on the project. “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.”

The complex’s other main components include integrating the existing Beverly Hilton and Waldorf Astoria Beverly Hills hotels into a single site, and an Aman-branded luxury hotel with two residential towers. In addition, it will include 10 acres of landscaped botanical gardens and open space, nearly half of which will be open to the public.

The complex was master-planned by Foster + Partners; its Aman-branded elements are by Kerry Hill Architects; and RIOS is responsible for the landscape architecture. Construction commenced in 2024, with vertical works beginning in autumn 2025 and phased delivery scheduled to commence from 2028.