Borrowing costs continue to drop for REITs. Now, pricing for credit-default swaps has fallen in the wake of the news that the Federal Reserve Bank will buy Treasurys -- a trend illustrated by the swaps on Boston Properties. The REIT just issued $850 million of notes, and its swaps have declined 11.7 basis points to 106.4. "It's a major trend in terms of debt pricing and the liquidity that the government has given us," said Damon Andres, an asset manager at Delaware Investments. REITs specifically "continue to amaze at lower and lower refinancing rates, plugging away and getting maturities taken care of and getting really cheap debt."
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