"Despite the recent lack of liquidity for hotel financing, numerous lenders recognized the outstanding performance of this hotel given its positive growth in revenues since mid-2001," said Elliot K. Eichner, principal of the LA-based real estate investment banking firm. "We had significant interest from multiple lending sources to provide financing for the Westin Portland despite the softening of the national economy and the impact of September 11th."

The 19-story, 205-room Downtown hotel was completed in 1999. It is the only hotel in the state of Oregon to have been awarded the "Four-Star" rating by the Mobil Travel Guide and is only one of eight with the American Automobile Association (AAA) "Four-Diamond" designation.