The bank that funded a big part of the condominium boom is considering selling all or part of itself as rising defaults force it to seek capital.

Corus Bankshares Inc, a symbol of the exuberance for glass-and-steel condo towers from Miami to Los Angeles, reported a $260.7m quarterly loss late Friday and said that more than one-third of its $4.1bn in outstanding loans were nonperforming. Amid what it called a 'precipitous decline' in property values, the Chicago lender also warned that banking regulators may soon strip Corus of its standing as a well-capitalized bank

Wall Street Journal