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

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

If successful, the sale would end a long period of localownership for the hotel, which is listed on the National Registerof Historic Places. It also would likely close the HeathmanRestaurant that shares the street level with the hotel's lobby at1001 SW Broadway. Rim is reportedly talking with the Portland-basedMcCormick & Schmick's seafood restaurant chain.