Compass Bank loses $13.1 million in sale of 121 units in Tampa

Compass Bank, which took over the failed condo conversion Legacy at
Tampa from Group Developers LLC in the summer, sold 121 units for an
average price of $17,355 per unit, according to Marcus & Millichap.
The bank lost a total of $13.1 million in the transaction, with the
total proceeds of $2.1 million a far cry from the $15.2 milion it had
paid the development group four years ago for the properties. The units
were bought by CCP Legacy, a company formed in February. [TBBJ]