Cain International has secured $2 billion in construction financing to support the development of One Beverly Hills, a nearly 18-acre project in Beverly Hills, reported the Los Angeles Business Times. The financing includes a $500-million senior loan from JPMorgan Chase along with other private financing commitments.
Jonathan Goldstein, CEO and co-founder of Cain International, said JPMorgan’s involvement “further strengthens” the firm’s confidence in the “stability and potential of luxury real estate in sought-after locations.” The project broke ground last month.
Led by Cain, the project includes the first hotel by Aman Resorts on the West Coast, along with Aman-branded residences and an exclusive Aman members club. Vladislav Doronin, chairman and CEO of Aman Group, said in a statement Aman Beverly Hills will “embody the spirit of our renowned resorts but within an urban landscape.”
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