South Florida Dirt: Overdue debt, a dead deal, and Miami’s sinking skyline

It’s not an easy time to be a developer, even in South Florida, one of the stronger real estate markets in the country.  Over the past week, we reported on the challenges facing developer Alirio Torrealba, who is at the center of more than a dozen lawsuits from lenders; the Magic City’s sinking skyline; the oversaturated branded condo pipeline (at least 15,000 units underway); and the death of a nearly $200 million condo buyout deal in West Palm Beach.  Torrealba, founder and CEO of MG Developer, is fighting to hang onto some properties, while admitting defeat on others (he hired […]

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