Search
 

MPTV Awaits Construction Loan for Resort

IRVINE, CA-The Irvine-based developer is still waiting on the closure of a $13.4-million construction loan from International Commercial Finance. The final closing had been scheduled for the beginning of February, but internal processes at ICF are holding it up.

By Erin Cassin | Updated on March 08, 2002

IRVINE, CA-The planned resort project by Irvine-based developer MPTV Inc. will get off to a slower start than originally anticipated, as the company is still awaiting the closure of a $13.4-million construction loan.

The loan, which is being provided by International Commercial Finance, had been scheduled to close in the beginning of February. However, internal processes at the Southfield, MI-based private lender have delayed the final closing. “We regret if this has caused MPTV or it shareholders any concern,” says Eli Shalom, the CEO of ICF.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.