WHO:   Jack DeBoer, chief executive officer of Candlewood Hotel Company,
            Inc. and the creator of the extended-stay hotel concept, and David
            E. Creamer, president of GMAC Commercial Mortgage Corporation
    WHAT:  Will cut the symbolic ribbon to officially open the first
            Candlewood Hotel in the Greater Philadelphia area
    WHEN:  Thursday, October 30th at Noon
    WHERE: In the Horsham Business Center, just behind the national
            headquarters of GMAC Commercial Mortgage at 650 Dresher Road

    Details:  Candlewood Hotel Company, the Wichita, Kan.-based owner,
developer, manager and franchisor of value-oriented, business extended-stay
hotels, has constructed a 110-room property comprised of 86 Studio Suites and
24 one-bedroom suites with a $5.2 million loan provided by GMAC Commercial
Mortgage, the nation's largest commercial mortgage banker.  DeBoer, who
founded Residence Inns in the 1970s and formed Candlewood Hotel Company in
late 1995, is recognized within the hospitality industry as the creator of the
extended-stay concept.  Fifteen to 30 percent of business travelers require
more than a week's stay.  In addition to Creamer, GMACCM executives expected
to participate in the ribbon-cutting ceremonies include Charles E. Dunleavy,
Jr., executive vice president and chief operating officer; Michael Lipson,
senior vice president and head of the Hospitality Division, and Vacys
Garbonkus, senior vice president responsible for Construction Lending.
    Press releases and other information about GMAC Commercial Mortgage and
its products and services are available at http://www.gmaccm.com on the
Internet.  For GMACCM press releases by fax, call 800-758-5804, ext. 122720.
    CONTACT:  Scott Rombach of GMAC Commercial Mortgage, 215-328-3383, or
Ed Shapson of Strategic Communications, 215-673-8453, for GMAC Commercial
Mortgage.

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