Investors - JUNE 12, 2014

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New Mexico commits $75m to real estate debt

by Reg Clodfelter

The $19.2 billion New Mexico State Investment Council has committed $75 million to the Brookfield Real Estate Finance Fund IV, a real estate debt vehicle sponsored by Brookfield Asset Management that invests domestically.

“Brookfield is a core manager in our stable with whom the council has placed multiple investments,” explains Charles Wollmann, director of communications with NMSIC. “Aside from their very good past track record, the council has found their high level of financial commitment to their own funds to be a good alignment of interests with our own.”

BREF IV launched in March 2014 with an $850 million fundraising goal and will originate new loans to commercial real estate borrowers for acquisitions and refinancing with a focus on higher-yielding loans. The fund will target the 60 percent to 80 percent LTV

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