Torrealba’s troubles: MG Developer overdue on millions in debt, preferred equity, lawsuits say

Alirio Torrealba and his MG Developer were hit with four lawsuits this week alleging defaults on $2.2 million in preferred equity and millions more in loans tied to several South Florida holdings. The Coral Gables-based developer, which has a hefty pipeline spanning from Hialeah to North Bay Village, has spent over a decade building its reputation in the region.  In a statement, MG conceded it’s experienced some disruptions in recent months, including with liquidity, but added that it takes its obligations to the plaintiffs, who are long-time MG investors and partners, “very seriously.”  MFD International LLC and Yosse LLC, both […]

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