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9900 Wilshire Boulevard

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

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

9900 Wilshire Boulevard

$300,000,000

Building Size

Asset Type

Development Site

Closing

Feb 19, 2025

AI

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

Vici Properties
Vici PropertiesLender

Beverly Hills Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.05%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93