The Real Deal Miami

Corus seeks capital

June 04, 2009 03:31PM

Chicago-based Corus Bankshares, which was badly hurt with failed loans to Florida condo projects, is looking for a recapitalization or a sale to repair its battered financial condition. Potential buyers include Los Angeles billionaire Thomas Barrack’s Colony Capital LLC and Related Cos., Stephen Ross’s New York development company, according to reports. Distressed banking assets are of particular interest to vulture investors.