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
Aircraft engine company leases Miami-Dade HQ amid mega industrial demand
An aviation services company that specializes in engine repairs, maintenance, leases and investments is moving to a headquarters in Miami-Dade that’s nearly four times the size of its current space. Powerhouse Engines signed a 10-year lease for 90,000 square feet across two industrial buildings at H
Luxury home developer owes partner in battle over stalled Pinecrest spec home
Devtov Group, the luxury home builder led by Juan Carlos Tovar, is on the hook for nearly $2 million in a lawsuit involving a long-stalled spec home in Pinecrest, in a case that the developer brought against its investor. An arbitrator ruled Devtov to pay Navja Corp. about $1.8 million, plus damage
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