VICI Properties Inc. announced the establishment of a strategic relationship with Cain International and Eldridge Industries, formalized through a non-binding letter of intent. This partnership is dedicated to investing in high-growth, experience-driven real estate opportunities. The collaboration begins with VICI's $300 million investment into a mezzanine loan for the One Beverly Hills development.
One Beverly Hills is a landmark 17.5-acre luxury mixed-use development in Beverly Hills, California, anchored by Aman Beverly Hills. The project includes Aman's first West Coast hotel, Aman-branded residences, and a refurbishment of The Beverly Hilton. The mezzanine loan has an initial maturity in March 2026, with one 12-month extension option.
VICI funded this initial investment using a combination of cash on hand and draws from its existing revolving credit facility. This strategic move diversifies VICI's portfolio into ultra-luxury experiential assets and establishes relationships with key developers in the sector, aligning with its goal of acquiring high-quality experiential destinations and expanding its addressable market.
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