The $380 million will be available for both acquisitions andrefinancings, including both limited service and full servicehotels. Summit's role is to present the lender with deals, based onthe lender's underwriting standards.

Stueber says that the most remarkable aspects of the $380million in funding is that CMBS will be available on hospitalityassets and, "Non-recourse money is back, really, for the first timesince early 2008." He estimates that 25% to 35% of the financingwill go to hotel assets and the remainder to other assetclasses.

"There's room for roughly 17 or 18 deals and that's it," Stuebersays. Once that capital is used, the lender will securitize thepool and make a decision on whether the securitization wassuccessful. "If it is, I expect that they will inject more capitalinto this type of financing again," Stueber says.