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Edward B. Pitoniak Of Vici Properties Provides $300 Million Mezzanine Loan For One Beverly Hills

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FINANCED
$300,000,000

California

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Development Site
Financed 02/19/2025
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FINANCED

Edward B. Pitoniak Of Vici Properties Provides $300 Million Mezzanine Loan For One Beverly Hills

9900 Wilshire Boulevard

See Similar Deals
Development Site
Financed 02/19/2025
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Summary

CALIFORNIA
Asset Type:Development Site
Transaction Type:Loan

The property involved in this transaction is a 17.5-acre development site located at 9900 Wilshire Boulevard in Beverly Hills. The overall investment for this project amounts to $300 million, which is associated with a mezzanine loan. The site is set for a luxury mixed-use development that will include various high-end features and amenities.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $300,000,000
  • Lender: Edward B. Pitoniak - Vici Properties
  • Landlord: Jonathan Goldstein - Cain International
  • Landlord: Todd L. Boehly - Eldridge Industries
  • Completion Year: 2027

This transaction involves key stakeholders including Edward B. Pitoniak from Vici Properties, who provided the financing, and Jonathan Goldstein and Todd L. Boehly, who represent Cain International and Eldridge Industries, respectively, for the development project. The project will feature the Aman Beverly Hills and a renovated Beverly Hilton, as well as luxury residences, retail, dining, and extensive botanical gardens spanning 10 acres.

Players

LENDER

Details

FINANCED
IMAGE: Edward B. Pitoniak, Jonathan Goldstein & Todd L. Boehly DATE: 02/19/2025 ADDRESS: 9900 Wilshire Boulevard MARKET: Beverly Hills ASSET TYPE: Development Site ~ ACRES: 17.5 LENDER: Edward B. Pitoniak - Vici Properties LANDLORD: Jonathan Goldstein - Cain International; Todd L. Boehly - Eldridge Industries LOAN AMOUNT: $300,000,000 LOAN TYPE: Mezzanine NOTE: VICI Properties invested $300 million into a mezzanine loan for One Beverly Hills, a 17.5-acre luxury mixed-use project by Cain International and Eldridge Industries. The development, set to complete in 2027, will feature Aman Beverly Hills, a renovated Beverly Hilton, luxury residences, retail, dining, and 10 acres of botanical gardens.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$300,000,000.00

Monthly NOI$2,000,000.00
Monthly Debt Service$1,896,204.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00