Aman, in partnership with Alagem Capital and Cain International, has announced significant developments for the One Beverly Hills project–the 17.5-acre residential and hotel development in Beverly Hills. The project will include an Aman hotel, as well as Aman Branded Residences and a 120,000-square-foot Aman Club, set within eight acres of botanical gardens which feature more than two miles of walking trails.
The partnership will represent Aman’s first project in California and its fifth project in the U.S., following Aman New York (August 2, 2022) and Aman Miami Beach (2024), besides existing destinations Amangani in Jackson Hole, Wyoming and Amangiri in Canyon Point, Utah. The hospitality and lifestyle brand operates 34 properties in 20 countries, 15 of which are located within or close to UNESCO Sites.
An architecturally striking and sustainable 17.5-acre mixed-use urban resort, One Beverly Hills represents the unification of several properties including the Beverly Hilton and Waldorf Astoria Beverly Hills. Alagem purchased the Beverly Hilton in 2003 and developed and built the Waldorf Astoria Beverly Hills that opened in 2017.
Cain and Alagem Capital partnered in 2018 and the joint venture received the entitlements for One Beverly Hills in 2021 with construction expected to begin in 2023 and completed in 2026. The partnership recently secured $500 million from Aareal Capital and the real estate business within Goldman Sachs Asset Management to refinance the Beverly Hilton and Waldorf Astoria Beverly Hills as part of the development master plan.
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