Cain International
Beverly Hills, CA, March 13, 2024 – Cain International (‘Cain’), the privately held investment firm, today announces it has secured $2 billion in construction financing to support the development of One Beverly Hills, a mixed-use urban project spanning 17.5 acres. The financing includes a $500 million senior loan from JP Morgan in addition to other private financing commitments. The agreement will see JP Morgan join a consortium of world-leading architects, design houses, developers and hospitality brands.
Led by Cain, One Beverly Hills will bridge the iconic Beverly Hilton and Waldorf Astoria with 10-acres of botanical gardens & open space. This project will also mark the introduction of the first Aman hotel, along with a limited number of Aman branded residences and an exclusive Aman members club, to North America’s West Coast.
“We are delighted to welcome JP Morgan as a cornerstone financing partner for the One Beverly Hills project,” said Jonathan Goldstein, CEO and co-founder of Cain International. “This endorsement further strengthens our confidence in the stability and potential of luxury real estate in sought-after locations. We look forward to working with our partners as we deliver a product that will redefine hospitality and urban living.”
Vlad Doronin, Chairman and CEO of Aman Group, remarked, “We are delighted to be collaborating with our partners to fulfill our commitment to create a peaceful garden oasis in the heart of Beverly Hills. Aman Beverly Hills will embody the spirit of our renowned resorts but within an urban landscape and will have exceptional amenities including an Aman Club. Our fully-serviced Aman branded residences will offer a complete immersion into the revered Aman lifestyle and will shape the future of luxury living in this iconic city.”
Master planned by globally renowned architecture firm Foster + Partners, with Aman designs by KHA (Kerry Hill Architects), the site is among the largest privately funded construction endeavors in the nation. It is anticipated to generate approximately $40 billion in total local spending across 30 years and bring more than 2,700 direct construction jobs to the region. In February, Cain and its partners, alongside representatives from the City of Beverly Hills celebrated the commencement of construction of the transformative site.
Turner Construction Company, whose projects include SoFi Stadium, the Burj Khalifa, and the Javits Center expansion, will be leading overall site management. Along with Cain Development and OKO Group, Turner, will oversee contracting opportunities for construction as well as provide educational outreach and engagement services to aid diverse businesses and local job seekers in preparation for work opportunities on the project site.
The masterplan will integrate various technologies to significantly reduce emissions, energy use and water conservation. It will include more than 10 acres of open spaces and botanical gardens designed by landscape architecture practice RIOS, of which over 4.5 acres will be publicly accessible, showcasing 200 varieties of native flora.
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