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
Beverly Hills Development Site Market Snapshot
Boundary boundary · Development Site · Loan transactions
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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