Facing piling lender suits, Torrealba selling stake in North Bay Village site to Prosper 

Embattled developer Alirio Torrealba, who is facing piling lawsuits by his lenders, is selling his stake in a bayfront condo development site to Prosper Group, The Real Deal has learned.  Torrealba’s Coral Gables-based MG Developer has come under fire in recent months by financiers claiming the firm defaulted on its debts. The eighth and latest suit revealed that MG Developer’s entity MG NBV is selling its stake in a North Bay Village site to a Prosper affiliate for $20 million, according to records attached to the complaint. As of late last year, MG and Prosper, based in Miami Beach and […]

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