One Beverly Hills, featuring Aman Beverly Hills and The Beverly Hilton, today announced a $4.3 billion financing to complete its development of a world-class mixed-use urban destination and residential enclave that redefines luxury living in the heart of Beverly Hills. The financing, led by J.P. Morgan and VICI Properties Inc. (NYSE:VICI), is among the largest of its kind in the last decade.

Spanning 17.5 acres, One Beverly Hills will introduce Aman's first urban residences, hotel, and members' club to the West Coast, alongside retail, hospitality, wellness and leisure concepts set within 10 acres of gardens and open space. The development, sponsored by Cain in partnership with Eldridge Industries, will connect an elegantly refurbished Beverly Hilton – home of the Golden Globes and the Milken Global Conference – and Waldorf Astoria Beverly Hills, as well as provide 1800 underground parking spaces, creating a singular landmark of culture, sophistication, and sustainability.

The closing of the financing follows strong momentum across both residential sales and commercial partnerships, with the first Aman-branded residential tower achieving significant sales, offering residences ranging from 2,550 sq foot two-bedrooms to 25,000 sq foot penthouses with sweeping views of the Pacific Ocean, Hollywood Hills, and downtown Los Angeles. Aman, known for its discreet, design-led approach to hospitality and unparalleled service, has built a portfolio across some of the world's most culturally significant destinations, spanning 20 countries, with 15 of its resorts and residential developments located within or close to UNESCO-protected sites, where the brand is entrusted to operate in some of the world's most sensitive and historic settings.

The development has attracted commitments from globally renowned leading hospitality and retail brands, including Dolce&Gabbana, expanding their Beverly Hills presence, Casa Tua Cucina, the first West Coast outpost of the acclaimed Italian-market dining concept, and Los Mochis, a 12,000 sq foot indoor-outdoor Mexican-Japanese restaurant featuring Los Angeles' first fusion omakase.

"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 Cain. "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."

"Los Angeles sits at the intersection of culture, hospitality, sport and entertainment," said Todd Boehly, Chairman and CEO of Eldridge Industries. "We have long believed in Beverly Hills and the broader Los Angeles market, and in its ability to attract global demand and long-term capital. This project reflects that conviction, and we are proud to support a development that invests in the community and contributes to the city's next chapter."

Construction commenced in 2024, with vertical works beginning in autumn 2025 and phased delivery scheduled to commence from 2028. The project is expected to generate approximately $40 billion in local economic activity over 30 years and support more than 2,700 direct construction jobs.

The financing comprises a $2.8 billion senior loan led by J.P. Morgan and a $1.5 billion mezzanine loan from VICI.

"We are enthusiastic about the expansion of our partnership with Cain and Eldridge Industries through a truly unique, place-based development project in One Beverly Hills," said Ed Pitoniak, CEO of VICI Properties. "VICI shares our partners' conviction in the strength of high-end experiences in world-leading destinations, and we look forward to continuing to grow our strategic relationship with Cain and Eldridge Industries for years to come."

About One Beverly Hills

One Beverly Hills, a 17.5-acre mixed-use urban oasis in the heart of Beverly Hills, creates a new landmark destination at the center of one of the world's most coveted luxury markets. The development brings together The Beverly Hilton and a new Aman Beverly Hills, comprising a hotel, branded residences, and a private members' club. Retail, hospitality, wellness, and leisure amenities are situated throughout 10 acres of botanical gardens and open space. Masterplanned by Foster + Partners, the development features Aman-branded elements from Kerry Hill Architects and landscape architecture led by RIOS, bringing together world-leading design and hospitality partners in one of the most ambitious and distinctive projects in North America.

About JP Morgan

JPMorgan Chase & Co. (NYSE:JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $362 billion in stockholders' equity as of December 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About VICI Properties

VICI Properties Inc. is an S&P 500^® experiential real estate investment trust that owns one of the largest portfolios of market-leading gaming, hospitality, wellness, entertainment and leisure destinations, including Caesars Palace Las Vegas, MGM Grand and the Venetian Resort Las Vegas, three of the most iconic entertainment facilities on the Las Vegas Strip. VICI Properties owns 93 experiential assets across a geographically diverse portfolio consisting of 54 gaming properties and 39 other experiential properties across the United States and Canada. The portfolio is comprised of approximately 127 million square feet and features approximately 60,300 hotel rooms and over 500 restaurants, bars, nightclubs and sportsbooks. Its properties are occupied by industry-leading gaming, leisure and hospitality operators under long-term, triple-net lease agreements. VICI Properties has a growing array of real estate and financing partnerships with leading operators in other experiential sectors, including Cabot, Cain, Canyon Ranch, Chelsea Piers, Great Wolf Resorts, Homefield, Kalahari Resorts and Lucky Strike Entertainment. VICI Properties also owns four championship golf courses and ~33 acres of undeveloped and underdeveloped land adjacent to the Las Vegas Strip. VICI Properties' goal is to create the highest quality and most productive experiential real estate portfolio through a strategy of partnering with the highest quality experiential place makers and operators. For additional information, please visit www.viciproperties.com.

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Media Contacts:

For Cain

pro-Cain@prosek.com

For VICI Properties

Investors@viciproperties.com

(646) 949-4631

One Beverly Hills Finalizes $4.3 Billion Financing to Complete Development