IRVINE, CA-MPTV, a timeshare resort developer, has received a term sheet for an $11.5 million loan it intends to put toward renovating existing properties for sale as timeshare units.

Bolton Capital delivered the term sheet and expects the deal to close in the near future. “This is a very promising project,” said Howard Seidman of Bolton Capital. “We believe in the results it will create for Lake Trop’s bottom line, and we are proving our beliefs by delivering the right deal.”

MPTV recently completed the refinancing of its Lake Tropicana project, enabling it to attract several quality lenders interested in Phase I of Lake Tropicana’s construction. Sources at MPTV say lenders recognize that the demand for timeshare properties outpaces the supply of available units.

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