Westin Book Cadillac (Photo: Wikimedia Commons/Sk8terjacob) The Westin Book Cadillac hotel is facing foreclosure due to plummeting revenues amid the pandemic, its owner tells Crain s Detroit Business. The 33-story tower was rehabbed in 2008 for $180 million. According to Crain s, owner John Ferchill is underwater with $77 million in commercial mortgage-backed securities debt that has been delinquent since May. The property is valued at $75 million. Ferchill says he s been unable to come to an agreement with his lender, Citi Real Estate Funding Inc. We are not unique, Ferchill said. We have tried everything to work with a lender who won t work with us, which quite frankly is a testament to how good of a property we created. They would rather take it for themselves than work it out with the borrower. We have not received one concession.