Iconic Beverly Hills property accesses bank's substantial capital base
LOS ANGELES — 1st Century Bank, a division of MidFirst Bank, today announced it has closed a 10-year loan to Rodeo/Brighton, LLC for their property located at 401-409 N. Rodeo Drive and 9511-9525 Brighton Way, Beverly Hills. The Rodeo Drive location, one of the world's most recognizable shopping destinations, is home to luxury brands Bulgari, Goyard, Cristofle and Wolford AG.
"We are very proud to have a part in a historic corner in Los Angeles. The success of this transaction was the result of the combination of 1st Century's local decision-making and MidFirst's substantial capital base," said Jason P. DiNapoli, president and CEO, 1st Century Bank. Chris Hoshek, SVP Commercial Real Estate, 1st Century Bank stated, "Opportunities like Rodeo/Brighton are not presented very often. The stellar reputation of our client coupled with the location and strong economics of the property made this iconic asset a once in a generation lending opportunity."
1st Century Bank is a division of MidFirst Bank, one of the nation's largest privately held financial institutions. This combination of private ownership, a strong capital base and local market focus and expertise, allows 1st Century Bank to provide greater scale and opportunity for its clientele. 1st Century Bank's exceptional service model provides the flexible, local decision-making that has distinguished it in the Los Angeles market.
About 1st Century Bank, a Division of MidFirst Bank
1st Century Bank, a division of MidFirst Bank, is headquartered in the Century City area of Los Angeles, California, with a full service business banking center in Century City, and relationship offices in Santa Monica, Beverly Hills and downtown Los Angeles. 1st Century Bank's primary focus is serving the specific banking needs of entrepreneurs, professionals and small businesses with the personal service of a traditional community bank. 1st Century Bank maintains a website at 1cbank.com.
