Century Plaza is a converted office building standing 17 stories in midtown Phoenix right in front of a light rail station.  They sold 16 of the 156 loft style condos before M and I bank filed to get a repayment of their loan to the developer.  The sales office is closed (except by appointment), and there is also another case against the developer by former buyers who cancelled their purchase contracts but were not given earnest money deposits back by the developer.  The developer was expected to file Chapter 7 or 11 but I do not have any confirmation of that. M&I Bank and a number of invvestors are in talks on the future of this development.  If you picture this as a very large short sale, then you know it could take months to reach agreement and get this great development open again.