The funding is a permanent, fixed-rate loan, and a GMACCMspokesperson tells GlobeSt.com it has a 10-year term, but does notdisclose the rate of interest. Through refinancing, the propertyowner locks in a fixed rate ahead of any potential hikes ininterest rates.

SpringHill Suites is a 94,092-sf property on a little more thanfour acres within 15 minutes of Downtown Philadelphia. It has threemeeting rooms with an aggregate 1,200 sf of space, a fitnesscenter, indoor swimming pool and spa, breakfast room and guestlaundry.

This is among four properties to receive a total of almost $42million in acquisition financing and refinancing from GMACCM at theend of this month. The others are in New Mexico and New Jersey.GMACCM has more than 100 offices worldwide and a servicingportfolio in excess of $241 billion and offers a menu of financingprograms for borrowers of commercial real estate debt and toproviders of such capital. In provides loan origination, servicing,asset management, investment management and technology services.Along with a hospitality division, the financial services firm alsohas specialized lending units focused on healthcare and onfranchise and equipment lending.