- Significant capital investment from Cain International comes on the heels of successful first year of the Waldorf Astoria Beverly Hills Hotel.
- Building on the successful stewardship of multiple real estate developments in the UK, Europe and US, Cain International is expanding its US presence with new partnership in Los Angeles.
LOS ANGELES AND NEW YORK, August 21, 2018 – Alagem Capital Group, today announced an investment partnership with Cain International, a diversified real estate company, on the Waldorf Astoria Beverly Hills and the Beverly Hilton.
Now in its second year of operations, the Waldorf Astoria Beverly Hills has raised the bar for luxury hotels in the Los Angeles area. In this short period, the property has been awarded numerous accolades including Forbes’ Travel Guide 5 Star Rating, Condé Nast Traveler Readers’ Choice Award for #1 Hotel in Los Angeles, and Travel + Leisure’s, It List: Best New Hotels.
Over the Beverly Hilton’s 63 year legacy, it has been renowned for its high profile entertainment, charitable and political events notably the Golden Globe Awards and the Milken Institute Global Conference.
The partnership marks the first of its kind between Alagem and Cain International.
Alagem’s Chief Executive Officer Beny Alagem said, “Following the success of several real estate projects in the UK, I am excited to work with Cain International as it expands its U.S. portfolio with a significant investment in a marquee property on the West Coast. Cain International brings its collective experience in the real estate world to support the success of the Waldorf Astoria Beverly Hills, as well as the future revitalization of the Beverly Hilton.”
Jonathan Goldstein, Cain International’s Chief Executive and Co-Founder said, “Cain International is excited to join forces with Alagem Capital to help drive continued success at two of LA’s finest properties, the Waldorf Astoria and the Beverly Hilton. This investment supports our belief in exceptional projects that cater to the diverse and comprehensive lifestyle needs of today’s consumers. Cain International is committed to supporting outstanding businesses driving long-term value in gateway markets like LA.”
The partnership values the combined properties at over $1 billion. Specific terms of the partnership were not disclosed.