Cain International

Cain International, (formerly Cain Hoy Enterprises), is an international real estate investment firm. Headquartered in London, the company operates across Europe and the United States, with offices in New York and Los Angeles, and is led by CEO Jonathan Goldstein.[1]

History

Cain International was launched on 11 September 2014, as Cain Hoy Enterprises, by three former Guggenheim Partners executives, Todd Boehly, Henry Silverman and Jonathan Goldstein.[2] The company later became a partnership between Eldridge Industries, of which Boehly is chair and CEO, and co-founder Goldstein, the company’s current CEO.

Cain Hoy was named Property Entrepreneur of the Year by Property Week, in 2017.[3]

Holdings

Cain International operates offices in London, New York and Los Angeles.[1] Its asset management division, Cain International Advisers Limited, is a SEC-registered investment adviser. The company’s real estate assets include loans or equity investments in an array of properties,[4][5][6][7] including The Stage mixed-use development, which incorporates the Curtain Theater in London, a former venue of William Shakespeare's own company of players, Lord Chamberlain's Men.[8]

In December 2016, Cain International acquired a stake in sbe Entertainment Group, which subsequently acquired Morgans Hotel Group. In October 2018, the company sold its sbe stake to AccorHotels.[9]

In 2017, Cain International provided development funding of £450m to Canary Wharf Group, for its office complex at One and Five Bank Street, London. The transaction is referenced as the largest development financing subsequent to the British invocation of Article 50 in 2017.[10]

In August 2018, Cain International acquired a USD $345 million stake in the Waldorf Astoria Beverly Hills and The Beverly Hilton. The Hilton hosts the Milken Institute Global Conference and the Golden Globe Awards. With Alagem Capital, Cain International also acquired 9900 Wilshire Boulevard from the Dalian Wanda Group for USD $420 million. In 2019, architect Norman Foster began designing a mixed-use project on the combined eight-acre site.[11][12]

In September 2019, Cain International announced its investment in the first Raffles marquee hotel and residential property in the United States. Replacing the Boston Common Hotel and Conference Center, adjacent to the Hancock Tower, at 40 Trinity Place, Boston, The Raffles Boston Back Bay Hotel & Residences is permitted as a 33-story, 431,273 square foot mixed-use building being built according to the Gold sustainability standard, with 147 hotel rooms and 146 residential units.[13][14] The same month, an investment in a new 56-story office tower at 830 SE First Avenue, in the Brickell district of Miami, Florida, was announced as a joint venture between Cain International and OKO Group. The firm also partnered with OKO Group and Aman New York, in a $750 million construction facility loan to fund re-development of the$1.25B Crown building at the corner of Fifth Avenue and 57th Street, in Manhattan.[15]

Cain International has also invested in The AllBright’s private women's social clubs in London and West Los Angeles; Competitive Socialising's Swingers mini-golf clubs in London; and The St. James sports, wellness and entertainment complex, in Springfield, Virginia.[16][15][4]

References
  1. "About Us". Cain International. Retrieved 2020-02-28.
  2. "Guggenheim Partners Says President Todd Boehly Is Exploring Forming His Own Company". Variety. March 28, 2015. Retrieved 2020-02-28.
  3. "Stars in our eyes: Property Awards 2017 winners gallery". Property Week. April 6, 2017. Retrieved 2020-02-28.
  4. "Cain, Backed by Dodgers Owner, Eyes $500 Million for Debut Fund". Bloomberg. June 12, 2019. Retrieved 2020-02-28.
  5. "TODD BOEHLY". Los Angeles Business Journal. May 20, 2019. Retrieved 2020-02-28.
  6. "Dodgers Co-Owner Takes Stake in Beverly Hilton Hotel". Bloomberg. August 17, 2018. Retrieved 2020-02-28.
  7. "Real Estate Equity". Cain International. Retrieved 2020-02-28.
  8. "US investor Cain Hoy backs £750m Shoreditch property development". Evening Standard. Retrieved 2020-02-28.
  9. "France's Accor to buy half of Sam Nazarian's SBE in $319 million deal". Reuters. June 29, 2018. Retrieved 2020-02-28.
  10. "Cain Hoy and QIA provide £450m loan to Canary Wharf Group". Property Week. April 24, 2017. Retrieved 2020-02-29.
  11. "Star Architect Norman Foster to Design Beverly Hills Complex". Bloomberg. May 2, 2019. Retrieved 2020-02-29.
  12. "Chinese Exodus From U.S. Real Estate Accelerates With Sale of L.A. Site". WSJ. November 15, 2018. Retrieved 2020-02-29.
  13. "Cain International and Madison Realty Capital announce financing for Raffles Boston Back Bay Hotel & Residences". Boston Real Estate Times. July 15, 2019. Retrieved 2020-02-28.
  14. "Raffles Boston Back Bay Hotel & Residences". Bldup. Retrieved 2020-02-28.
  15. "From Bidding For Tottenham To Buying Beverly Hills: Cain International Breaks Into America". Bisnow Commercial Real Estate News. October 9, 2019. Retrieved 2020-02-29.
  16. "Cain International CEO: Big believer in luxury commercial real estate in the gateway cities". CNBC. November 20, 2019. Retrieved 2020-02-29.
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