Real Estate
Luxury Beverly Hills Resort Inks $300 Million With New Loan
- Vici Properties financing mezzanine loan for development
- Owners are building a 17.5-acre hotel complex with spa
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One Beverly Hills, the ultra-luxury complex being developed in part by Cain International and Todd Boehly’s Eldridge Industries, secured $300 million in financing from Vici Properties Inc., a year after breaking ground on one of the most expensive US hotel projects under development.
Vici, a real estate investment trust that specializes in “experiential” properties such as casinos, is providing a mezzanine loan to help develop the 17.5-acre (7-hectare) property, which is expected to be completed in late 2027, according to a statement seen by Bloomberg News. The deal is being financed with Vici’s cash and a drawdown of funds from an existing revolving credit facility.