Heathman Hotel Sale May Be Formalized This Week

PORTLAND, OR-The sale of the Heathman Hotel is close to being finalized. Neither Heathman Hotel Group president Bruce Fery nor Rim Corp. CEO Mark Burden returned calls seeking comment Monday, but a source close to the transaction says a deal is less than a week away.

When news of the negotiations broke in late July, Fery told GlobeSt.com that attorneys for both sides were working on the deal, but that financing was still an issue for Rim Corp., which has made unsuccessful advances for the Heathman in the past. All told, there have been four offers on the property in the past 18 months, Fery said.

The Heathman Group, owned by the Stevenson family of Bingen, WA, owns four hotels and five restaurants. The family also runs the STS Lumber Co. in Bingen, WA. Rim Corp., based in Modesto, CA ,owns and operates 17 mid-to-low priced chain hotels in California, and is on the hunt for other Portland properties.