The Real Deal Miami

 Loan flip likely for Corus buyer

October 01, 2009 01:42PM

The vulture investors circling Corus Bank probably won’t hang onto their $4 billion commercial real estate loan portfolio for long once they take it out of receivership. The Federal Deposit Insurance Corporation, which seized the Chicago bank Sept. 11 and turned banking operations over to MB Financial, is considering selling off the loan portfolio, which includes mortgages on many foreclosed South Florida condominium developments. Potential buyers of the loans include Miami Dolphins owner Stephen Ross and his New York-based Related Companies, though nothing has been disclosed officially by the federal agency.