As debt woes mount, Alirio Torrealba’s MG Developer lists Hialeah dev site entitled for apartments

Beleaguered developer Alirio Torrealba, who has been hit with a string of lender lawsuits in recent months, is shopping around a Hialeah multifamily development site.  Torrealba’s Coral Gables-based MG Developer listed the vacant property of its planned Metro Station II project at 2701 and 2765 East 11th Avenue. Cushman & Wakefield is marketing the property, but the asking price wasn’t disclosed. MG Developer and listing agent Virgilio Fernandez of Cushman didn’t provide insight on the target price range.  “The sale of the parcel of land for Metro Station II will allow us to further meet our current obligations,” MG Developer […]

This article originally appeared on The Real Deal. Click here to read the full story.