Terrazzo is actually one of the healthier new-build condos in Music City, and Crosland doesn’t appear to be buying units under shells, just selling them. That’s another hint they might be simply trying to avoid Land Act lawsuits from nervous owners.

Crosland Tennessee announced plans in 2007 to develop the property into Griffin Plaza, a $35 million project including 140 apartments in a 10-story tower and 32,000 square feet of ground-floor retail space. Crosland Inc. borrowed $15 million from Carolina First in May 2008. Carolina First claims Crosland defaulted on a $90,500 interest payment. “Crosland is still in negotiations with the bank and is confident of reaching a positive outcome,” Crosland Tennessee President Bill Barkley said in an e-mailed statement.

The condominium homes offered in the sales event include a broad array of floorplans, and minimum offering bids are approximately 40-50% of the list price. One-bedroom and one-bedroom den residences available at the sales event range from 891 to 1,150 square feet with minimum offering bids of $159,000 - $225,000. Two-bedroom, two-bath and two-bedroom plus den residences available at the sales event range from 1,320 to 1,617 square feet with minimum offering bids of $250,000 - $310,000. Three-bedroom, three-bath residences available at the sales event have 2,090 square feet with minimum offering bids of $399,000. The minimum bid prices include one parking space in the access-controlled, underground garage.