Massachusetts Pension Reserves Investment Management Board is looking to reduce the costs of debt used on its $7.6bn (€6.42bn) real estate portfolio by expanding the sources of financing it can use.
The pension fund told IPE Real Assets that it can now consider the use of general collateral financing, repurchase agreements, futures contracts and total-return swaps.
It was previously restricted to mortgages, bank loans, private notes and internal financing through a securities lending programme.
The full article is available at https://realassets.ipe.com/news/mass-prim-expands-sources-of-real-estate-debt-financing-to-cut-costs/10054385.article