For Translation Purposes Only
June 14, 2013
For Immediate Release
Nomura Real Estate Master Fund, Inc.
Takashi Kataoka, Executive Director(Securities Code: 3285)
Asset Management Company:
Nomura Real Estate Asset Management Co., Ltd.
Yasuaki Fukui, President and Chief Executive Officer
Inquiries: Takashi Kataoka, NMF Chief Investment Officer
TEL: +81-3-3365-8767
EMAIL: nmf3285@nomura-re.co.jp

Notice Concerning Completion of Property Acquisitions
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or “the Fund”) announced today that theFund completed acquisition of the followings 26 properties out of the 54 properties mentioned in the Offering
Circular for the Issue of New Investment Units and Secondary Offering (May 2013). Aside from the 51
properties acquired either on June 13, 2013 or today, acquisition of the remaining 3 properties will complete on
July 19, 2013 and July 31, 2013, respectively.
1.

Summary of Acquisitions
Property nameLocation

Urayasu-shi,
Chiba
Itabashi-ku,
Landport Itabashi
Tokyo
Atsugi-shi,
Landport Atsugi
Kanagawa
Sagamihara Onodai Logistics Center Sagamihara-shi,
Kanagawa
Hachioji-shi,
Landport Hachioji
Tokyo
Kasukabe-shi,
Landport Kasukabe
Saitama
Funabashi-shi,
Funabashi Logistics Center
Chiba
Atsugi-Minami Logistics Center B
Atsugi-shi,
Kanagawa
Tower
Hanyu-shi,
Hanyu Logistics Center
Saitama
Kawaguchi Logistics Center B
Kawaguchi-shi,
SaitamaTower
Kawaguchi Logistics Center A
Kawaguchi-shi,
SaitamaTower
Atsugi-Minami Logistics Center A
Atsugi-shi,
Kanagawa
Tower
Ota-shi, Gunma
Ota Nitta Logistics Center
Ota Higashi-Shinmachi Logistics
Ota-shi, Gunma
CenterOta-shi, Gunma
Ota Kiyohara Logistics Center
Oura-gun,Chiyodamachi Logistics Center
Gunma
Landport Urayasu

Acquisition
price(million yen)
17,400

Seller

G.K. Smile Logistics Two

15,710G.K. Smile Logistics Two

11,410G.K. Smile Logistics Two

8,700

G.K. Smile Logistics Two

8,250

G.K. Smile Logistics Two

7,340

G.K. Smile Logistics Two

4,660

G.K. Smile Logistics Two

4,590

G.K. Smile Logistics Two

3,810

G.K. Smile Logistics Two

3,750

G.K. Smile Logistics Two

2,830

G.K. Smile Logistics Two

2,690

G.K. Smile Logistics Two

3,430

G.K. Smile Logistics Two

2,170

G.K. Smile Logistics Two

650
330

G.K. Smile Logistics Two
G.K. Smile Logistics Two

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
1

Property name

Morisia Tsudanuma
Yokosuka More’s City
EQUINIA Shinjuku
Kawasaki More’s
EQUINIA Ikebukuro
covirna machida
Sundai Azamino
EQUINIA Aobadai
Ichibancho Stear
EQUINIA Aobadori
Total(1) Date of Agreement:(2) Date of Acquisition:(3) Seller:(4) Financing:(5) Form of payment:

Location
Narashino-shi,
Chiba
Yokosuka-shi,
Kanagawa
Shinjuku-ku,
TokyoKawasaki-shi,
Kanagawa
Toshima-ku,
TokyoMachida-shi,Tokyo
Yokohama-shi,
Kanagawa
Yokohama-shi,
Kanagawa
Sendai-shi,
MiyagiSendai-shi,
Miyagi-Acquisition
price(million yen)Seller16,600G.K. Smile Retail Ten

13,640G.K. Smile Retail Two

4,260

Y.K. Smile Retail One

4,000

G.K. Smile Retail Two

3,990

Y.K. Smile Retail One

3,440

G.K. Smile Retail Six

1,700

G.K. Smile Retail Seven

1,560

Y.K. Smile Retail One

4,700

Y.K. Smile Retail One

1,640

G.K. Smile Retail Five

153,250

April 3, 2013
June 14, 2013
Please refer to “2 (2) Seller Profile” below.
Proceeds obtained from issue of new investment units resolved at the Board of
Directors meeting held on May 9, 2013 and debt financing (Note)
Lump-sum payment upon delivery(Note) For further details of the debt financing, refer to the “Notice Concerning Debt Financing” and “NoticeConcerning Conclusion of Interest-Rate Swap Agreement” released on June 12, 2013.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
2

2. Property Summary(1) Description of Acquired Properties
The overview of respective assets is summarized in the tables below.
Unless otherwise stated, descriptions in the tables outline the items that have been found or confirmed by
January 31, 2013, in accordance with the explanations shown below. Please refer to the following
terminology for these tables. Furthermore, unless otherwise stated, each figure in the tables describing theoverview of the respective assets is as of January 31, 2013. In addition, each of the acquired properties ortrust assets of beneficiary interests in real property may be referred to as “the Property” in the respective
descriptions in the tables below.
(a) Description on location, use, etc.
-

“Location (Registry),” “Land Area,” “Completion,” “Total Floor Space” and “Structure/Floors” arebased on the information in the real estate registry. Note that “Completion” and “Structure/Floors”
are for major buildings only.

-

The required walking time in the “Nearest Station” column indicates the figures calculated on thepremise that one minute is required for each road distance of 80 meters, based on the Regulations on
Fair Competition Concerning Real Estate Representations (Fair Trade Commission Notification No. 23
of 2005) and the Enforcement Rules for Regulations on Fair Competition Concerning Real Estate
Representations (Fair Trade Commission Notification No. 107 of 2005).

-“Building Coverage Ratio” and “Floor Area Ratio” indicate figures determined in accordance with
relevant laws and regulations including the Building Standards Act and the City Planning Act (Law No.
100 of 1968, as amended; hereafter “City Planning Act).

-“Zoning” indicates the type of zoning district classified in accordance with Article 8, Paragraph 1, Item
1 of the City Planning Act.

-

“Main Use” indicates the primary type of use of buildings stated in the registry.

-“Property Management Company” indicates the property management company to which property
management services for each property are entrusted.

-“Master Lessee” indicates the master lessee with which a master lease agreement has been executed forrespective acquired properties.

-“Type of Master Lease” indicates “pass-through scheme” for the form of the executed master leaseagreement called pass-through type in which a Master Lessee would pay the Fund the same amount as
the rents from end tenants based on the lease agreements with them, and “guaranteed rental scheme”
for the form of the executed master lease in which a Master Lessee would pay fixed rents to the Fund.

-“Leasing Status” indicates the rights of lease with end tenants when the Type of Master Lease is passthrough scheme.

-“Total Leasable Floor Space” indicates the total area of leasable spaces of respective logistics facilities
and retail properties, etc. (including the area of common-use spaces, etc. if they are leased). The Total
Leasable Floor Space is not an indication on the registry but shows the area indicated in the leaseagreements or the calculated areas based on the building completion drawings and other documents. As

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
3such, the Total Leasable Floor Space is not necessarily equal to the Total Floor Space based on theindications in the registry and may occasionally surpass the Total Floor Space. Land with leaseholdinterest indicates the land area in the registry as contracted space.
-“Occupancy Rate” indicates the ratio of the Total Leased Floor to the Total Leasable Floor Space ineach property (rounded to the first decimal place).

(b) Other Relevant Information“Other Relevant Information” indicates not only matters deemed important in terms of rights, use andother issues for respective properties, but also matters deemed important in consideration of the impact
on their appraisal value, profitability and disposability.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
4

Property Name

Landport Urayasu

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Sumitomo Mitsui Trust
Bank, Ltd.

Beneficial Trust Contract

June 30, 2018

PeriodNearest Station

2.3 km from Maihama Station on the JR Keiyo Line

Location (Street)

11-4 Chidori, Urayasu-shi, Chiba

Land

11-1 Chidori, Urayasu-shi, Chiba,

Registry

Building

Completion

May 2008

Structure/

SRC/S, 5F

and others
Building

70% (Note)Coverage Ratio
Floor Area

Floors200%

Ratio
Zoning

Quasi-industrial district

Main Use

Storage

Land Area

35,873.00m2

Total Floor Space

71,570.64m2

Type ofOwnership

Type ofOwnership

Ownership
Property Management

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

70,045.85m2

Number of Tenants

2

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note) The Property is located in a quasi-industrial district where the building coverage ratio is 60% in principle. As the building is on acorner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
5

Property Name

Landport Itabashi

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

January 31, 2018

PeriodNearest Station

1 km from Nishidai Station on the Toei Mita Line

Location(Street)

4-8 Funado, Itabashi-ku, TokyoLand

4-2843-29 Funado, Itabashi-ku,

Registry

Building

Completion

January 2008

Structure/

SRC/S, 6FTokyo, and others
Building

60%

Coverage Ratio
Floor Area

Floors200%

Ratio
ZoningExclusive industrial district

Main Use

Storage

Land Area

27,305.12m2

Total Floor

53,561.44m2

Type ofOwnership

Space
Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

52,794.55m2

Number of Tenants

2

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%

Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
6

Property Name

Landport Atsugi

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Sumitomo Mitsui Trust Bank,Ltd.

Beneficial Trust Contract

February 21, 2021

PeriodNearest Station

2.7 km from Honatsugi Station on the Odakyu Line

Location (Street)

5-1-1 Midorigaoka, Atsugi-shi, Kanagawa

Land

5-2050-1 Midorigaoka, Atsugi-shi,

Registry

Building

Completion

March 2007

Structure/

SRC, 5F

Kanagawa, and others
Building

70% (Note)Coverage

Floors

Ratio
Floor Area

200%

Ratio
ZoningIndustrial district

Main Use

Storage

Land Area

24,808.98m2

Total Floor

49,504.38m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

47,995.23m2

Number of Tenants

2

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note) The Property is located in an industrial district where the building coverage ratio is 60% in principle. As the building is on acorner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
7

Property Name

Sagamihara Onodai Logistics Center

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

March 31, 2018

PeriodNearest Station

1.2 km from Kobuchi Station on the JR Yokohama Line

Location (Street)

2-32-1 Onodai, Minami-ku, Sagamihara-shi, Kanagawa

Land2-2471-1 Onodai, Minami-ku,

Registry

Building

Completion

August 2000

Structure/

SRC/S, 5F

Sagamihara-shi, Kanagawa
Building

70% (Note)Coverage

Floors

Ratio
Floor Area

200%

Ratio
Zoning

Quasi-industrial district

Main Use

Storage

Land Area

26,978.95m2

Total Floor

49,927.89m2

SpaceType ofOwnership

Type ofOwnership

Ownership

Ownership

Property Management

Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Type of Master Lease-

Leasing Status
Total Leasable Floor

57,448.03m2

Occupancy Rate

100.0%

Space
Number of Tenants1(Note) The Property is located in a quasi-industrial district where the building coverage ratio is 60% in principle. As the building is ona corner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
8

Property Name

Landport Hachioji

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Sumitomo Mitsui Trust Bank,Ltd.

Beneficial Trust Contract

December 4, 2018

PeriodNearest Station

1.0 km from Kita-Hachioji Station on the JR Hachiko Line

Location (Street)2969-16 Ishikawamachi, Hachioji-shi, TokyoLand

2969-16 Ishikawamachi, Hachioji-

Registry

Building

Completion

November 2008

Structure/

S/RC, 5F

shi, Tokyo
Building

60%

Coverage Ratio
Floor Area

Floors200%

Ratio
ZoningExclusive industrial district

Main Use

Storage

Land Area

18,172.05m2

Total Floor

35,948.63m2

Type ofOwnership

Space
Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

34,896.32m2

Number of Tenants

1

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%

Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
9

Property Name

Landport Kasukabe

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

July 31, 2019

PeriodNearest Station

0.8 km from Yagisaki Station on the Tobu Noda Line

Location (Street)

3 Minami-Sakaecho, Kasukabe-shi, Saitama

Land

3 Minami-Sakaecho, Kasukabe-shi,

Registry

Building

Completion

June 2009

Structure/

SRC/S, 4F

Saitama
Building

70% (Note)Coverage

Floors

Ratio
Floor Area

200%

Ratio
ZoningExclusive industrial district

Main Use

Storage

Land Area

14,857.27m2

Total Floor

29,553.64m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

29,630.48m2

Number of Tenants

1

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note) The Property is located in an exclusive industrial district where the building coverage ratio is 60% in principle. As the building
is on a corner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
10Property Name

Funabashi Logistics Center

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Sumitomo Mitsui Trust Bank,Ltd.

Beneficial Trust Contract

February 21, 2021

PeriodNearest Station

2.6 km from Futamata Shinmachi Station on the JR Keiyo Line

Location (Street)

14 Shiomicho, Funabashi-shi, Chiba

Land

13-2 Shiomicho, Funabashi-shi,

Registry

Building

Completion

September 1991

Structure/

SRC, 6F

Chiba, and others
Building

70% (Note)Coverage

Floors

Ratio
Floor Area

300%

Ratio
Zoning

Quasi-industrial district

Main Use

Storage

Land Area

10,335.00m2

Total Floor

30,421.70m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

30,641.98m2

Number of Tenants

2

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note) The Property is located in a quasi-industrial district where the building coverage ratio is 60% in principle. As the building is ona corner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
11

Property Name

Atsugi-Minami Logistics Center B

Category

Logistics Facility

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andTower
Type of Asset

Trust beneficiary interest

Banking Corporation
Beneficial Trust Contract

February 21, 2021

PeriodNearest Station

1.2 km from Aiko-Ishida Station on the Odakyu Line

Location (Street)

271 Aza-Hirakawa, Kami-Ochiai, Atsugi-shi, Kanagawa

Land276-11 Aza-Hirakawa, Kami-Ochiai,

Registry

Building

Completion

May 2005

Structure/

S, 4F

Atsugi-shi, Kanagawa
Building

70% (Note 1)

Coverage

Floors

Ratio
Floor Area

200%

Ratio
Zoning

Quasi-industrial district

Main Use

Storage

Land Area

17,561.51m2

Total Floor

24,929.27m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor

24,909.96m2

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%

Space
Number of Tenants1(Note 1) The Property is located in a quasi-industrial district where the building coverage ratio is 60% in principle. As the building is
on a corner lot, however, an increased ratio of 70% applies.
(Note 2) The assets in trust for the Property comprise the Property and Atsugi-Minami Logistics Center A Tower.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement
or invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered orsold in the U.S. without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any
public offering of securities to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities
Act of 1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about theissuer and its management, as well as its financial statements.
12

Property Name

Hanyu Logistics Center

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

December 31, 2016

PeriodNearest Station

1.2 km from Minami-Hanyu Station on the Tobu Isesaki Line

Location (Street)

1-216-10 Kawasaki, Hanyu-shi, Saitama

Land

Registry

1-216-9 Hanyu-shi, Saitama

Building

70% (Note)

Building

CoverageCompletion

February 2006

Structure/

S, 3F

Floors

Ratio
Floor Area

200%

Ratio
ZoningUrbanization control district

Main Use

Storage

Land Area

27,608.94m2

Total Floor

24,888.67m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

24,850.80m2

Number of Tenants

1

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note) The Property is located in an urbanization control district where the building coverage ratio is 60% in principle. As the building
is on a corner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
13

Property Name

Kawaguchi Logistics Center B Tower

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mizuho Trust & Banking Co.,Ltd.

Beneficial Trust Contract

September 30, 2017

PeriodNearest Station

1.9 km from Kawaguchi Motogo Station on the Saitama Railway Line

Location (Street)

5-3-1 Ryoke, Kawaguchi-shi, Saitama

Land5-3875-2 Ryoke, Kawaguchi-shi,

Registry

Building

Completion

April 1996

Structure/

S, 3F

Saitama, and others
Building

70% (Note)Coverage

Floors

Ratio
Floor Area

200%

Ratio
ZoningIndustrial district

Main Use

Storage

Land Area

9,732.87m2

Total Floor

13,186.31m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Type of Master Lease-

Leasing Status
Total Leasable Floor

13,648.70m2

Occupancy Rate

100.0%

Space
Number of Tenants1(Note) The Property is located in an industrial district where the building coverage ratio is 60% in principle. As the building is on acorner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
14

Property Name

Kawaguchi Logistics Center A Tower

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mizuho Trust & Banking Co.,Ltd.

Beneficial Trust Contract

September 30, 2017

PeriodNearest Station

1.9 km from Kawaguchi Motogo Station on the Saitama Railway Line

Location (Street)

5-3-1 Ryoke, Kawaguchi-shi, Saitama

Land5-3875-1 Ryoke, Kawaguchi-shi,

Registry

Building

Completion

September 1991

Structure/

S, 3F

Saitama, and others
Building

70% (Note)Coverage

Floors

Ratio
Floor Area

200%

Ratio
ZoningIndustrial district

Main Use

Storage

Land Area

12,376.31m2

Total Floor

11,580.06m2

Space
Type ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Type of Master Lease-

Leasing Status
Total Leasable Floor Space

12,003.57m2

Number of Tenants

1

Occupancy Rate

100.0%(Note) The Property is located in an industrial district where the building coverage ratio is 60% in principle. As the building is on acorner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
15

Property Name

Atsugi-Minami Logistics Center A

Category

Logistics Facility

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andTower
Type of Asset

Trust beneficiary interest

Banking Corporation
Beneficial Trust Contract

February 21, 2021

PeriodNearest Station

1.2 km from Aiko-Ishida Station on the Odakyu Line

Location (Street)276-1 Aza-Hirakawa, Kamiochiai, Atsugi-shi, Kanagawa

Land276-1 Aza-Hirakawa, Kamiochiai,

Registry

Building

Completion

October 2003

Structure/

S, 2F

Atsugi-shi, Kanagawa
Building

70% (Note 1)

Coverage

Floors

Ratio
Floor Area

200%

Ratio
Zoning

Quasi-industrial district

Main Use

Storage

Land Area

16,081.79m2

Total Floor

9,788.62m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

9,825.52m2

Number of Tenants

1

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note 1) The Property is located in a quasi-industrial district where the building coverage ratio is 60% in principle. As the building is
on a corner lot, however, an increased ratio of 70% applies.
(Note 2) The assets in trust for the Property comprise the Property and Atsugi-Minami Logistics Center B Tower.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
16

Property Name

Ota Nitta Logistics Center

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

December 31, 2016

PeriodNearest Station

4.5 km from Yabuzuka Station on the Tobu Kiryu Line

Location (Street)150-2 Nittakanecho, Ota-shi, Gunma

Land

150-2 Nittakanecho, Ota-shi,

Registry

Building

Completion

March 2003

Structure/

S, 3F

Gunma, and others
Building

70% (Note)Coverage

Floors

Ratio
Floor Area

200%

Ratio
ZoningExclusive industrial district

Main Use

Storage

Land Area

39,604.26m2

Total Floor

42,324.75m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Type of Master Lease-

Leasing Status
Total Leasable Floor Space

42,328.00m2

Number of Tenants

1

Occupancy Rate

100.0%(Note) The Property is located in an exclusive industrial district where the building coverage ratio is 60% in principle. As the building is
on a corner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
17

Property Name

Ota Higashi-Shinmachi Logistics

Category

Logistics Facility

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andCenterType of Asset

Trust beneficiary interest

Banking Corporation
Beneficial Trust Contract

December 31, 2018

PeriodNearest Station

2.5 km Yashu-Yamabe Station on the Tobu Isesaki Line

Location (Street)837-1 Higashi-Shinmachi, Ota-shi, Gunma

Land

837-1 Higashi-Shinmachi, Ota-shi,

Registry

Building

Completion

August 2008

Structure/

S, 3F

Gunma
Building

70% (Note)Coverage

Floors

Ratio
Floor Area

200%

Ratio
ZoningExclusive industrial district

Main Use

Storage

Land Area

22,428.97m2

Total Floor

23,584.72m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

23,584.72m2

Number of Tenants

1

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note) The Property is located in an exclusive industrial district where the building coverage ratio is 60% in principle. As the building
is on a corner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
18

Property Name

Ota Kiyohara Logistics Center

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

December 31, 2016

PeriodNearest Station

3.2 km from Yamamae Station on the JR Ryomo Line

Location (Street)

10-1 Kiyoharacho, Ota-shi, Gunma

Land

Registry

10-1 Kiyoharacho, Ota-shi, Gunma

Building

70% (Note)

Building

CoverageCompletion

May 2004

Structure/

S, 3F

Floors

Ratio
Floor Area

200%

Ratio
Zoning

Quasi-industrial district

Main Use

Storage

Land Area

4,950.01m2

Total Floor

9,048.39m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

9,397.38m2

Number of Tenants

1

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note) The Property is located in a quasi-industrial district where the building coverage ratio is 60% in principle. As the building is ona corner lot, however, an increased ratio of 70% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
19

Property Name

Chiyodamachi Logistics Center

Category

Logistics Facility

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

September 30, 2016

PeriodNearest Station

4.0 km Honnakano Station on the Tobu Koizumi Line

Location (Street)

3040 Oaza-Maigi-Yokonehara, Chiyodamachi, Oura-gun, Gunma

Land

3012-2 Oaza-Maigi-Aza-Yokonehara,

Registry

Building

Completion

January 1999

Structure/S, 3F

Chiyodamachi, Oura-gun, Gunma,and others
Building

60% (Note)Coverage

Floors

Ratio
Floor Area

200%

Ratio
ZoningExclusive industrial district

Main Use

Storage

Land Area

6,236.13m2

Total Floor

4,584.54m2

Type ofOwnership

Space
Type ofOwnership
Property Management

Ownership

Ownership
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co., Ltd.

Company
Master Lessee-

Type of Master Lease-

Leasing Status
Total Leasable Floor Space

4,592.00m2

Number of Tenants

1

Occupancy Rate

100.0%(Note) The Property is located in an exclusive industrial district where the building coverage ratio is 50% in principle. As the building
is on a corner lot, however, an increased ratio of 60% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
20

Property Name

Morisia Tsudanuma

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Sumitomo Mitsui Trust Bank,Ltd.

Beneficial Trust Contract
PeriodAugust 31, 2016

Nearest Station

2 minute walk from Tudanuma Station on JR

Location (Street)

1-16-1 Yatsu, Narashino-shi, Chiba(1) Low-Rise Retail Building, Restaurant Building, Office Building
Land

Registry

1-1340-10 Yatsu, Narashino-shi,
Chiba

Building
Coverage
Ratio

100% (Note 1)

Floor Area
Ratio

630% (Note 2)

ZoningLand Area

Commercial district
16,707.61m2

Type ofOwnership

Ownership

Building

Completion

October 1978

Structure/

SRC・RC, B3F/12F

FloorsMain Use
Total Floor
Space
Type ofOwnership

Retail, Office, Parking
94,067.53m2

Completion

November 1987

Structure/

S, 8F

Compartmentalized
ownership (Note 3)(2) Parking Building
Land

Registry

1-1340-18 Yatsu, Narashino-shi,
Chiba, and others

Building
Coverage
Ratio

100% (Note 1)

Floor Area
Ratio

600%

ZoningLand Area

Commercial district
2,487.03m2

Type ofOwnership

Ownership

Building

FloorsProperty Management
Company

Geo-Akamatsu Co., Ltd.

Master Lessee

Geo-Akamatsu Co., Ltd.

Total Leasable Floor Space
Number of Tenants

39,369.43m2
124

Main Use
Total Floor
Space
Type ofOwnership

Type of Master Lease
Leasing Status
Occupancy Rate

Parking
11,423.50m2
Ownership

Pass-through scheme
99.6%(Note 1) The Property is located in a commercial district where the building coverage ratio is 80% in principle. As the building is fireresistant in a fire zone, however, an increased ratio of 100% applies.
(Note 2) The Property has a legally designated floor area ratio of 600% at the maximum. However, as the location was designated as“Narashino-shi, Yatsu-cho Specified Block” based on the “Narashino City Public Notice No. 11” as of March 5, 1974, thefloor area ratio of the Property is 630%.
(Note 3) The ownership ratio of the common-use spaces is 92.57% for the trustee of beneficial trust and the remaining 7.43% for
Incorporated Foundation Narashino Bunka Hall, another holder of compartmentalized ownership.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
21

Other Relevant Information:
1． There is a pedestrian overpass, owned by Narashino City, over the land of the Property and the adjacent land managed by
Narashino City. There is also a pedestrian path, managed by Narashino City, above the land of the Property. The pedestrian
overpass and the pedestrian path are to be maintained and managed under the responsibility and burden of Narashino City, andthe trustee of beneficial trust for the land of the Property is obliged to cooperate with Narashino City to a certain degree. In
addition, when major repairs, etc. are to be made for the pedestrian deck that extends over the boundary between the land of theProperty and the adjacent land managed by Narashino City, or when the trust is ended and the land of the Property is provided
to the beneficiary of the trust, it is required to discuss with Narashino City in advance.
2.

A part of the land of the Property is leased to Narashino City for the purpose of owing Narashion Bunka Hall (rents paid in fullin advance), and a part of the building of the Property is on the said land. Accordingly, the relevant part of the land is in a stateof being subleased gratis by Narashino City.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
22

Property Name

Yokosuka More’s City

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

May 31, 2016

PeriodNearest Station

1 minute walk from Yokosuka-Chuo Station on Keikyu

Location (Street)

2-30 Wakamatsucho, Yokosuka-shi, Kanagawa

Land

2-28-1 Wakamatsucho, Yokosuka-shi,

Registry

Building

Completion

July 1997

Structure/

RC/SRC/S, B1F/12F

Kanagawa, and others
Building

80%/60% (Note 1)

Coverage

Floors

Ratio
Floor Area

400%/200% (Note 2)

Ratio
ZoningCommercial district, category I

Main Use

Retail and parking

Total Floor

43,890.82m2

exclusively medium-high residential
district
Land Area

10,085.83m2

Type ofOwnership (partly co-ownership)

Type ofCompartmentalized

Ownership(Note 3)

Ownershipownership (Retail),Space

Surface right (partly quasi-co-

Co-ownership ofownership) (Note 4)compartmentalized
ownership (Parking)Property Management

Nomura Building Management Co., Ltd.

Company
Master Lessee

Yokohama Okadaya Co., Ltd.

Type of Master Lease

Guaranteed rental scheme(Note 5)

Leasing Status
Total Leasable Floor Space

29,383.65m2

Number of Tenants

1

Occupancy Rate

100.0%(Note 1) For the land of the Property, the building coverage ratio is 80% for the area other than a part of the site on the southeasternside that belongs the commercial district and 60% for the part of the site on the southeaster side that belongs to the category
I exclusively medium-high residential district. For the whole area, the weighted-average percentage is applied in accordancewith the space of the respective areas.
(Note 2) For the land of the Property, the floor area ratio is 400% for the area that belongs to the commercial district, and 200% for
the area that belongs to the category I exclusively medium-high residential district. For the whole area, the weighted-average
percentage is applied in accordance with the space of the respective areas.
(Note 3) The ownership of the land of the Property covers 5,729.54m2. Part of it (2,862.49m2 in total) is co-owned by four parties,
with the ownership ratio of the trustee of beneficial trust for the Property being 4,312,423/4,389,082.
(Note 4) The surface rights of the land of the Property cover 4,001.01m2. Part of it (3,828.44m2 in total) is quasi co-owned by four
parties, with the ownership ratio of the trustee of beneficial trust for the Property being 4,312,423/4,389,082.
(Note 5) The master lease agreement depicts that the master lessee shall pay fixed rents to the Fund and, when the annual rents themaster lessee receives from end tenants up to a certain period of time exceeds a certain amount, the master lessee shall pay
the Fund a monthly rent, to be obtained by dividing the amount calculated from the excessive portion at a certain percentage
by 12, as variable rents for a year three months after the said period, on top of the fixed rents.
Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
23

Other Relevant Information:
1.

The site of the entire building including the building of the Property is owned by the holders of compartmentalized ownershipfor their respective portions, and constitutes what is called a mutually leased land where it is mutually leased among the holdersof the compartmentalized ownership. The land area the Fund will be leasing from other holders of compartmentalized
ownership will be 355.28m2.

2.

The management regulations among the holders of compartmentalized ownership for the Property state that, when any of theholders of compartmentalized ownership wishes to transfer the whole or part of its compartmentalized ownership, the party
shall notify it to other holders of compartmentalized ownership in writing and grant them a preferential negotiation right for acertain period of time.

3.

The master lessee of the Property has removed the physical partitions between some part of the building of the Property and theadjacent exclusive areas of other holders of compartmentalized ownership in order to utilize the space in an integrated mannerwith the adjacent exclusive areas leased from other holders of compartmentalized ownership. With regard to the risks related tothis, please refer to “(1) Risk Factors Concerning Investment in the Investment Units of the Fund and (3) Risk Concerning Real
Estate: J. Risks Regarding Buildings under Compartmentalized Ownership” in “3. Investment Risks” below.

4.

Rights of lease to any third party have been established for the guard house (steel-framed, flat roof, 4F, total floor space of
109.86m2), which stands on the land of the Property.)

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
24

Property NameEQUINIA Shinjuku

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

March 31, 2016

PeriodNearest Station

3 minute walk from Shinjuku Station on JR
3 minute walk from Shinjuku Sanchome Station on Tokyo Metro

Location (Street)1-1-17 Kabukicho, Shinjuku-ku, TokyoLand

1-52-6 Kabuki Cho, Shinjuku-ku,

Registry

Building

Completion

March 1988

Structure/

SRC, B2F/9F

Tokyo, and others
Building

100% (Note 1)

Coverage

Floors

Ratio
Floor Area

900%/800% (Note 2)

Ratio
ZoningCommercial district

Main Use

Office and retailLand Area

568.98m2

Total Floor

5,221.88m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

OwnershipXYMAX AXIS CORPORATION

Company
Master Lessee-

Total Leasable Floor Space

3,611.57m2

Number of Tenants

8Type of Master Lease-

Leasing Status
Occupancy Rate

74.1%

(Note 1) The Property is located in a commercial district where the building coverage ratio is 80% in principle. As the building is fireresistant in a fire zone, however, an increased ratio of 100% applies.
(Note 2) For the land of the Property, the floor area ratio is 900% for the area within 20 meters to the north from the boundary lineof the road facing on the southern side, which belongs to the commercial district, and 800% for the area farther than 20
meter to the north from the boundary line of the road facing on the southern side. For the whole area, the weightedaverage percentage is applied in accordance with the space of the respective areas.
Other Relevant Information:
A lease agreement with a tenant (leased space of 421.65m2) was cancelled as of January 31, 2013 because of the tenant’s failure to pay
rents.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
25

Property Name

Kawasaki More’s

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

May 31, 2016

PeriodNearest Station

1 minute walk from Kawasaki Station on JR
2 minute walk from Keikyu Kawasaki Station on Keikyu

Location (Street)

7-1 Ekimaehoncho, Kawasaki-ku, Kawasaki-shi, Kanagawa

Land

6-1 Ekimaehoncho, Kawasaki-ku,

Registry

Building

Completion

August 1980

Structure/

SRC, B2F/11F

Kawasaki-shi, Kanagawa, and others
Building

100% (Note 1)

Coverage Ratio
Floor Area

Floors800%

Ratio
ZoningCommercial district

Main Use

RetailLand Area

2,719.72m2

Total Floor

22,235.96m2

SpaceType ofOwnership
Property Management

Type ofOwnership, sectional surface rightCompartmentalized ownership

Ownership

Nomura Building Management Co., Ltd.

Company
Master Lessee

Yokohama Okadaya Co., Ltd.

Type of Master Lease

Guaranteed rental scheme(Note 2)

Leasing Status
Total Leasable Floor Space

14,446.48m2

Number of Tenants

1

Occupancy Rate

100.0%(Note 1) The Property is located in a commercial district where the building coverage ratio is 80% in principle. As the building is fireresistant in a fire zone, however, an increased ratio of 100% applies.
(Note 2) The master lease agreement depicts that the master lessee shall pay fixed rents to the Fund and, when the annual rents themaster lessee receives from end tenants up to a certain period of time exceeds a certain amount, the master lessee shall pay
the Fund a monthly rent, to be obtained by dividing the amount calculated from the excessive portion at a certain percentage
by 12, as variable rents for a year three months after the said period, on top of the fixed rents.
Other Relevant Information:
1. The site of the entire building including the building of the Property is owned by the holders of compartmentalized ownershipfor their respective portions, and constitutes what is called a mutually leased land where it is mutually leased among the holders of
the compartmentalized ownership. The land area the Fund will be leasing from other holders of compartmentalized ownershipwill be 1,035.44m2.
2. The management regulations among the holders of compartmentalized ownership for the Property state that, when any of theholders of compartmentalized ownership wishes to transfer the whole or part of its compartmentalized ownership, the party
shall notify it to other holders of compartmentalized ownership in writing and grant them a preferential negotiation right for acertain period of time.
3. The master lessee of the Property has removed the physical partitions between some part of the building of the Property and theadjacent exclusive areas of other holders of compartmentalized ownership in order to utilize the space in an integrated mannerwith the adjacent exclusive areas leased from other holders of compartmentalized ownership. With regard to the risks related tothis, please refer to “(1) Risk Factors Concerning Investment in the Investment Units of the Fund and (3) Risk Concerning Real
Estate: J. Risks Regarding Buildings under Compartmentalized Ownership” in “3. Investment Risks” below.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
26

Property NameEQUINIA Ikebukuro

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

March 31, 2020

PeriodNearest Station

1 minute walk from Ikebukuro Station on JR

Location (Street)

1-17-10 Nishi-Ikebukuro, Toshima-ku, TokyoLand

1-17-3 Nishi-Ikebukuro, Toshima-

Registry

Building

Completion

October 1973

Structure/

SRC, B1F/8F

ku, Tokyo, and others
Building

100% (Note 1)

Coverage

Floors

Ratio
Floor Area

900%/800% (Note 2)

Ratio
ZoningCommercial district

Main Use

OfficeLand Area

428.97m2

Total Floor

3,476.36m2

Type ofOwnership

Space
Type ofOwnership
Property Management

Ownership

OwnershipXYMAX AXIS CORPORATION

Company
Master Lessee-

Type of Master Lease-

Leasing Status
Total Leasable Floor Space

2,701.66m2

Number of Tenants

14

Occupancy Rate

99.7%

(Note 1) The Property is located in a commercial district where the building coverage ratio is 80% in principle. As the building is fireresistant in a fire zone, however, an increased ratio of 100% applies.
(Note 2) For the land of the Property, the floor area ratio is 900% for the area within 20 meters from the planned boundary line of
the Ward road on the northern side, and 800% for the area farther than 20 meters from the planned boundary line of theWard road on the northern side. For the whole area, the weighted-average percentage is applied in accordance with the spaceof the respective areas.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
27

Property Namecovirna machida

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Sumitomo Mitsui Trust Bank,Ltd.

Beneficial Trust Contract

August 31, 2017

PeriodNearest Station

2 minute walk from Machida Station on the Odakyu Line and JR Yokohama Line

Location (Street)

6-9-19 Haramachida, Machida-shi, Tokyo

Land

6-1111-3 Haramachida, Machida-shi,

Registry

Building

Completion

September 1981

Structure/

RC, B1F/5F

Tokyo, and others
Building

100% (Note 1)

Coverage

Floors

Ratio
Floor Area

528% (Note 2)

Ratio
ZoningCommercial district

Main Use

RetailLand Area

1,033.05m2

Total Floor

4,209.06m2

Type ofOwnership

Space
Type ofOwnership
Property Management

Ownership

Ownership
Geo-Akamatsu Co., Ltd.

Company
Master Lessee-

Type of Master Lease-

Leasing Status
Total Leasable Floor Space

2,891.32m2

Number of Tenants

7

Occupancy Rate

100.0%(Note 1) The Property is located in a commercial district where the building coverage ratio is 80% in principle. As the building is fireresistant in a fire zone, however, an increased ratio of 100% applies.
(Note 2) The Property has a legally designated floor area ratio of 600% at the maximum. However, priority is placed on the regulation
regarding the width of the front road (8.8 meters x 60%).
Other Relevant Information:
The site area of the Property includes a portion (private road) deemed as a road under Article 42-2 of the Building Standards Act, ofapproximately 177m2.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
28

Property Name

Sundai Azamino

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

November 30, 2018

PeriodNearest Station

4 minute walk from Azamino Station on the Tokyu Den-en-toshi Line and Yokohama Municipal
SubwayLocation (Street)

1-4-13 Azamino, Aoba-ku, Yokohama-shi, Kanagawa

Land

1-4-13 Azamino, Aoba-ku,

Registry

Building

Completion

November 2008

Structure/

S, 5F

Yokohama-shi, Kanagawa
Building

80%

Coverage

Floors

Ratio
Floor Area

300%

Ratio
ZoningNeighborhood commercial district

Main Use

Learning school

Land Area

742.63m2

Total Floor

2,145.85m2

SpaceType ofOwnership

Type ofOwnership
Property Management

Ownership

Ownership
Nomura Building Management Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

2,286.47m2

Number of Tenants

1

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%

Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
29

Property NameEQUINIA Aobadai

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mitsubishi UFJ Trust andBanking Corporation

Beneficial Trust Contract

March 31, 2020

PeriodNearest Station

1 minute walk from Aobadai Station on the Tokyu Den-en-toshi Line

Location (Street)

1-6-14 Aobadai, Aoba-ku, Yokohama-shi, Kanagawa

Land

1-6-14 Aobadai, Aoba-ku,

Registry

Building

Completion

November 1982

Structure/

SRC, B1F/5F

Yokohama-shi, Kanagawa
Building

100% (Note)Coverage

Floors

Ratio
Floor Area

400%

Ratio
ZoningCommercial district

Main Use

OfficeLand Area

846.78m2

Total Floor

3,320.15m2

Type ofOwnership

Space
Type ofOwnership
Property Management

Ownership

OwnershipXYMAX AXIS CORPORATION

Company
Master Lessee-

Type of Master Lease-

Leasing Status
Total Leasable Floor Space

2,457.36m2

Number of Tenants

8

Occupancy Rate

98.6%

(Note) The Property is located in a commercial district where the building coverage ratio is 80% in principle. As the building is fireresistant in a fire zone, however, an increased ratio of 100% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
30

Property Name

Ichibancho Stear

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Mizuho Trust & Banking Co.,Ltd.

Beneficial Trust Contract

March 31, 2016

PeriodNearest Station

7 minute walk from Sendai Station on JR
3 minute walk from Hirose-Dori Station on Sendai Subway

Location (Street)

3-8-8 Ichibancho, Aoba-ku, Sendai-shi, Miyagi

Land

3-8-4 Ichibancho, Aoba-ku, Sendai-

Registry

Building

Completion

February 2006

Structure/

S/RC, B1F/4F

shi, Miyagi, and others
Building

100% (Note)Coverage Ratio
Floor Area

Floors600%

Ratio
ZoningCommercial district

Main Use

RetailLand Area

2,098.18m2

Total Floor

6,622.14m2

Type ofOwnership

Space
Type ofOwnership
Property Management

Ownership

Ownership
Geo-Akamatsu Co., Ltd.

Company
Master Lessee-

Total Leasable Floor Space

4,582.81m2

Number of Tenants

7

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note) The Property is located in a commercial district where the building coverage ratio is 80% in principle. As the building is fireresistant in a fire zone, however, an increased ratio of 100% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
31

Property NameEQUINIA Aobadori

Category

Retail Property (station area)

Type of Asset

Trust beneficiary interest

Trustee of Beneficial Trust

Sumitomo Mitsui Trust Bank,Ltd.

Beneficial Trust Contract

June 30, 2018

PeriodNearest Station

1 minute walk from Sendai Station on JR
1 minute walk from Aoba-Dori Station on JR

Location (Street)

3-1-22 Chuo, Aoba-ku, Sendai-shi, Miyagi

Land

3-1-6 Chuo, Aoba-ku, Sendai-shi,

Registry

Building

Completion

June 2008

Structure/

S, B1F/10F

Miyagi, and others
Building

100% (Note)Coverage

Floors

Ratio
Floor Area

700%

Ratio
ZoningCommercial district

Main Use

Retail and officeLand Area

787.31m2

Total Floor

5,692.03m2

Space
Type of

Lease

Type ofOwnership
Property Management

Ownership

Ownership
ITOCHU Urban Community Ltd.

Company
Master Lessee-

Total Leasable Floor Space

4,030.37m2

Number of Tenants

19

Type of Master Lease-

Leasing Status
Occupancy Rate

100.0%(Note) The Property is located in a commercial district where the building coverage ratio is 80% in principle. As the building is fireresistant in a fire zone, however, an increased ratio of 100% applies.
Other Relevant Information:
None

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
32

(2) Seller Profile
Landport Urayasu, Landport Itabashi, Landport Atsugi, Sagamihara Onodai Logistics Center, Landport Hachioji,
Landport Kasukabe, Funabashi Logistics Center, Atsugi-Minami Logistics Center B Tower, Hanyu Logistics
Center, Kawaguchi Logistics Center B Tower, Kawaguchi Logistics Center A Tower, Atsugi-Minami Logistics
Center A Tower, Ota Nitta Logistics Center, Ota Higashi-Shinmachi Logistics Center, Ota Kiyohara Logistics
Center, Chiyodamachi Logistics Center
Company Name

G.K. Smile Logistics Two

Location

8-5-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo

Representative

Shinji Nakazawa

Business Description

1. Acquisition, ownership and disposition of trust beneficiaryinterests
2. Purchase, sale, lease and management of real estate
3. All other operations incidental to each of the preceding
items

Capital

3 million yen

Relationship with the Fund and the Asset

The seller is a private fund that entrusts its asset management

Management Company

to Nomura Real Estate Asset Management Co., Ltd.
(NREAM), the Asset Management Company.

Morisia Tsudanuma
Company Name

G.K. Smile Retail Ten

Location

8-5-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo

Representative

Shinji Nakazawa

Business Description

1. Acquisition, ownership and disposition of trust beneficiaryinterests
2. Purchase, sale, lease and management of real estate
3. All other operations incidental to each of the preceding
items

Capital

3 million yen

Relationship with the Fund and the Asset

The seller is a private fund that entrusts its asset management

Management Company

to NREAM.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
33

Yokosuka More’s City, Kawasaki More’s
Company Name

G.K. Smile Retail Two

Location

8-5-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo

Representative

Shinji Nakazawa

Business Description

1. Acquisition, ownership and disposition of trust beneficiaryinterests
2. Purchase, sale, lease and management of real estate
3. All other operations incidental to each of the preceding
items

Capital

3 million yen

Relationship with the Fund and the Asset

The seller is a private fund that entrusts its asset management

Management Company

to NREAM.

EQUINIA Shinjuku, EQUINIA Ikebukuro, EQUINIA Aobadai, Ichibancho Stear
Company Name
Y.K. Smile Retail One
Location

8-5-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo

Representative

Shinji Nakazawa

Business Description

1. Acquisition, ownership and disposition of trust beneficiaryinterests
2. Purchase, sale, lease and management of real estate
3. All other operations incidental to each of the preceding
items

Capital

3 million yen

Relationship with the Fund and the Asset

The seller is a private fund that entrusts its asset management

Management Company

to NREAM.

covirna machida
Company Name

G.K. Smile Retail Six

Location

8-5-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo

Representative

Shinji Nakazawa

Business Description

1. Acquisition, ownership and disposition of trust beneficiaryinterests
2. Purchase, sale, lease and management of real estate
3. All other operations incidental to each of the preceding
items

Capital

3 million yen

Relationship with the Fund and the Asset

The seller is a private fund that entrusts its asset management

Management Company

to NREAM.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
34

Sundai AzaminoCompany Name

G.K. Smile Retail Seven

Location

8-5-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo

Representative

Shinji Nakazawa

Business Description

1. Acquisition, ownership and disposition of trust beneficiaryinterests
2. Purchase, sale, lease and management of real estate
3. All other operations incidental to each of the preceding
items

Capital

3 million yen

Relationship with the Fund and the Asset

The seller is a private fund that entrusts its asset management

Management Company

to NREAM.

EQUINIA AobadoriCompany Name

G.K. Smile Retail Five

Location

8-5-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo

Representative

Shinji Nakazawa

Business Description

1. Acquisition, ownership and disposition of trust beneficiaryinterests
2. Purchase, sale, lease and management of real estate
3. All other operations incidental to each of the preceding
items

Capital

3 million yen

Relationship with the Fund and the Asset

The seller is a private fund that entrusts its asset management

Management Company

to NREAM.

(3) Transaction with Interested Parties

The sellers of respective assets the Fund acquired fall under the category of the Interested Parties in theRegulations on Transaction with Interested Parties of the Asset Management Company. Accordingly, the AssetManagement Company had the execution of the transaction agreements discussed and approved at theCompliance Committee meeting held on February 26, 2013 and at the Investment Committee meeting held on
February 28, 2013, after receiving confirmation of the Compliance Officer concerning compliance to laws andregulations, in accordance with the Regulations on Transaction with Interested Parties.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
35

3.

Profile of Previous Owners
The following properties were acquired from parties having a special interest relationship with the Fund and/or
the Asset Management Company. The following table indicates (1) company names/personal names, (2)relationship with parties having a special interest relationship, and (3) backgrounds/reasons of acquisition, etc.
Property Name
(Location)

Previous Owner/Previous Trust
Beneficiary

Owner/Trust Beneficiary before
Previous Owner/Previous Trust
Beneficiary*(1), (2), (3)Acquisition (Transfer) Price
Acquisition (Transfer) Date(1), (2), (3)Acquisition (Transfer) Price
Acquisition (Transfer) Date

(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Landport Urayasu(11-4 Chidori,
Urayasu-shi,
Chiba)

Owner/Trust Beneficiary Twice
before Previous
Owner/Previous Trust
Beneficiary(1), (2), (3)Acquisition (Transfer) Price
Acquisition (Transfer) Date

Omitted as the property has been
owned for more than a year
June 2008
Landport Itabashi(4-8 Funado,
Itabashi-ku, Tokyo)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)
Omitted as the property has been
owned for more than a year
January 2008

Party with which no special interest
relationship exits

Landport Atsugi(5-1-1
Midorigaoka,
Atsugi-shi,
Kanagawa)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)(1) Y.K. JOFI Atsugi Logistics(2) A private fund that entrusts its
asset management to the AssetManagement Company (Nomura
Real Estate Asset Management Co.,Ltd.)
(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Omitted as the property has been
owned for more than a year

Omitted as the property has been
owned for more than a year

December 2007

Party with which no special
interest relationship exits

December 2005

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
36

Owner/Trust Beneficiary before
Previous Owner/Previous Trust
Beneficiary

Property Name
(Location)

Previous Owner/Previous Trust
Beneficiary

Sagamihara
Onodai Logistics
Center(2-32-1 Onodai,
Minami-ku,
Sagamihara-shi,
Kanagawa)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)
Omitted as the property has been
owned for more than a year
March 2008

Party with which no special interest
relationship exits

Landport Hachioji(2969-16
Ishikawamachi,
Hachioji-shi,
Tokyo)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Owner/Trust Beneficiary Twice
before Previous
Owner/Previous Trust
Beneficiary

Omitted as the property has been
owned for more than a year
December 2008
Landport
Kasukabe(3 MinamiSakaecho,
Kasukabe-shi,
Saitama)

Funabashi
Logistics Center(14 Shiomicho,
Funabashi-shi,
Chiba)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)(1) Kasukabe Logistics Kaihatsu
TMK(2) A private fund that entrusted its
asset management to the AssetManagement Company (Nomura
Real Estate Asset Management Co.,Ltd.)
(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Omitted as the property has been
owned for more than a year

Omitted as the property has been
owned for more than a year

July 2009

June 2007(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Party with which no special
interest relationship exits

Omitted as the property has been
owned for more than a year
March 2006
Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
37

Property Name
(Location)

Previous Owner/Previous Trust
Beneficiary

Atsugi-Minami
Logistics Center B
Tower(271 Kami-Ochiai,
Atsugi-shi,
Kanagawa)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Owner/Trust Beneficiary before
Previous Owner/Previous Trust
Beneficiary

Owner/Trust Beneficiary Twice
before Previous
Owner/Previous Trust
Beneficiary

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
March 2006
Hanyu Logistics
Center
(1-216-10
Kawasaki, Hanyushi, Saitama)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
December 2006
Kawaguchi
Logistics Center B
Tower(5-3-1 Ryoke,
Kawaguchi-shi,
Saitama)

Kawaguchi
Logistics Center A
Tower(5-3-1 Ryoke,
Kawaguchi-shi,
Saitama)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)(1) Y.K. JOFI Kawaguchi Warehouse(2) A private fund that entrusts its
asset management to the AssetManagement Company (Nomura
Real Estate Asset Management Co.,Ltd.)
(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Omitted as the property has been
owned for more than a year

Omitted as the property has been
owned for more than a year

March 2007

January 2004

(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)(1) Y.K. JOFI Kawaguchi Warehouse(2) A private fund that entrusts its
asset management to the AssetManagement Company (Nomura
Real Estate Asset Management Co.,Ltd.)
(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Omitted as the property has been
owned for more than a year
March 2007

Omitted as the property has been
owned for more than a year
January 2004

Party with which no special
interest relationship exits

Party with which no special
interest relationship exits

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
38

Property Name
(Location)

Previous Owner/Previous Trust
Beneficiary

Atsugi-Minami
Logistics Center A
Tower(276-1 KamiOchiai, Atsugi-shi,
Kanagawa)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Owner/Trust Beneficiary before
Previous Owner/Previous Trust
Beneficiary

Owner/Trust Beneficiary Twice
before Previous
Owner/Previous Trust
Beneficiary

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
March 2006
Ota Nitta Logistics
Center(150-2Nittakanecho, Otashi, Gunma)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
December 2006
Ota HigashiShinmachi
Logistics Center(837-1 HigashiShinmachi, Otashi, Gunma)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
December 2008
Ota Kiyohara
Logistics Center(10-1 Kiyoharacho,
Ota-shi, Gunma)(1)G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
December 2006
Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
39

Owner/Trust Beneficiary before
Previous Owner/Previous Trust
Beneficiary

Property Name
(Location)

Previous Owner/Previous Trust
Beneficiary

Chiyodamachi
Logistics Center(3040 Oaza-MaigiYokonehara,
Chiyodamachi,
Oura-gun, Gunma)(1) G.K. Smile Logistics Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)
Omitted as the property has been
owned for more than a year
September 2006

Party with which no special interest
relationship exits

Morisia
Tsudanuma(1-16-1 Yatsu,
Narashino-shi,
Chiba)(1) G.K. Smile Retail Ten(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)(1) G.K. JOFI Tsudanuma Retail(2) A private fund that entrusts its
asset management to the AssetManagement Company (Nomura
Real Estate Asset Management Co.,Ltd.)
(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)
Omitted as the property has been
owned for more than a year

Omitted as the property has been
owned for more than a year
Yokosuka More’s
City
(2-30
Wakamatsucho,
Yokosuka-shi,
Kanagawa)

August 2008

August 2006

(1) G.K. Smile Retail Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Owner/Trust Beneficiary Twice
before Previous
Owner/Previous Trust
Beneficiary

Party with which no special
interest relationship exits

Omitted as the property has been
owned for more than a year
May 2006
EQUINIA
Shinjuku(1-1-17 Kabukicho,
Shinjuku-ku,
Tokyo)(1) Y.K. Smile Retail One(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
March 2006
Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
40

Property Name
(Location)

Previous Owner/Previous Trust
Beneficiary

Kawasaki More’s(7-1
Ekimaehoncho,
Kawasaki-ku,
Kawasaki-shi,
Kanagawa)(1) G.K. Smile Retail Two(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Owner/Trust Beneficiary before
Previous Owner/Previous Trust
Beneficiary

Owner/Trust Beneficiary Twice
before Previous
Owner/Previous Trust
Beneficiary

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
September 2006
EQUINIA
Ikebukuro(1-17-10 NishiIkebukuro,
Toshima-ku,
Tokyo)(1) Y.K. Smile Retail One(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)(1) Y.K. JN Invest(2) A private fund that entrusts its
asset management to the AssetManagement Company (Nomura
Real Estate Asset Management Co.,Ltd.)
(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)
Omitted as the property has been
owned for more than a year
February 2003

Party with which no special
interest relationship exits(1) G.K. Smile Retail Six(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)(1) Y.K. JOFI Machida Retail(2) A private fund that entrusts its
asset management to the AssetManagement Company (Nomura
Real Estate Asset Management Co.,Ltd.)
(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special
interest relationship exits

Omitted as the property has been
owned for more than a year
August 2007

Omitted as the property has been
owned for more than a year
March 2004

(1) G.K. Smile Retail Seven(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
December 2005
covirna machida(6-9-19
Haramachida,
Machida-shi,
Tokyo)

Sundai Azamino(1-4-13 Azamino,
Aoba-ku,
Yokohama-shi,
Kanagawa)

Omitted as the property has been
owned for more than a year
November 2008
Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
41

Owner/Trust Beneficiary before
Previous Owner/Previous Trust
Beneficiary

Property Name
(Location)

Previous Owner/Previous Trust
Beneficiary

EQUINIA
Aobadai(1-6-14 Aobadai,
Aoba-ku,
Yokohama-shi,
Kanagawa)(1) Y.K. Smile Retail One(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)(1) Y.K. JOFI Yokohama Aoba
(2) A private fund that entrusts its
asset management to the AssetManagement Company (Nomura
Real Estate Asset Management Co.,Ltd.)
(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Omitted as the property has been
owned for more than a year

Omitted as the property has been
owned for more than a year

Ichibancho Stear(3-8-8 Ichibancho,
Aoba-ku, Sendaishi, Miyagi)

December 2005

February 2003

(1) Y.K. Smile Retail One(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Owner/Trust Beneficiary Twice
before Previous
Owner/Previous Trust
Beneficiary
Party with which no special
interest relationship exits

Omitted as the property has been
owned for more than a year
March 2006
EQUINIA
Aobadori(3-1-22 Chuo,
Aoba-ku, Sendaishi, Miyagi)(1) G.K. Smile Retail Five
(2) A private fund that entrusts its asset
management to the Asset Management
Company (Nomura Real Estate AssetManagement Co., Ltd.)(3) Acquired for the purpose ofinvestment and management (holding
period: more than one year)

Party with which no special interest
relationship exits

Omitted as the property has been
owned for more than a year
June 2008

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
42

4.

Brokerage ProfileNo brokerage agency was used for the transactions.

5.

Future Outlook
For the forecasts of financial results of the Fund for the fiscal period ending August 31, 2013 (January 31 toAugust 31, 2013) and the fiscal period ending February 28, 2014 (September 1, 2013 to February 28, 2014), pleaserefer to “Notice Concerning Forecasts of Financial Results for the Fiscal Period Ending August 31, 2013 andFiscal Period Ending February 28, 2014” released on June 12, 2013.

[Exhibits]
Exhibit 1
Exhibit 2
Exhibit 3
Exhibit 4

Appraisal Summary (Including Assets to be Acquired)
Overview of Building Condition Investigation Report and Overview of Earthquake
Risk Analysis (Including Assets to be Acquired)
Portfolio List (Including Assets to be Acquired)
Overview of Buildings, Etc. (Including Assets to be Acquired)*Nomura Real Estate Master Fund, Inc. URL: http://www.nre-mf.co.jp/english/

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.
43

Exhibit 1 Appraisal Summary (Including Assets to be Acquired)

Logistics

Use

Capitalization Approach Price (million yen)
Direct Capitalization
NOI Yield
Discounted Cash Flow Approach
Approach(NOI÷Acquisition
NOI
Price (Scheduled)
Terminal(Note 2)
Capitalization
Discount(Note 3)
Price
Price
Capitalization
Rate
Rate
Rate
5.0%
17,9004.9% 17,500
5.1%
5.2%
885
5.1%
(Note 4)
5.1%
16,3005.1% 16,000
5.2%
5.4%
830
5.3%
(Note 5)

Appraiser

Appraisal
Date

AppraisalValue( million yen)
(Note 1)

Landport Urayasu

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

17,600Landport Itabashi

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

16,100Landport Kawagoe

Japan Real Estate
Institute

February 28,
2013

13,70013,7005.6%

13,600

5.3%

5.8%

781

5.7%

Landport Atsugi

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

11,60011,7005.3%

11,6005.2%
5.4%(Note 6)

5.6%

626

5.5%

Sagamihara Tana Logistics
CenterDaiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

10,90011,0005.4%

10,900

5.3%

5.7%

607

5.7%

Sagamihara Onodai Logistics
CenterJapan Real Estate
Institute

January 31,
2013

9,020

9,030

5.6%

9,000

5.2%

5.8%

524

6.0%

Landport Hachioji

Japan Real Estate
Institute

January 31,
2013

8,520

8,560

5.5%

8,480

5.2%

5.7%

472

5.7%

Landport Kasukabe

Japan Real Estate
Institute

January 31,
2013

7,420

7,470

5.5%

7,370

5.1%

5.8%

410

5.6%

Funabashi Logistics Center

Japan Real Estate
Institute

January 31,
2013

4,750

4,790

5.6%

4,710

5.3%

5.9%

291

6.3%

Atsugi-Minami Logistics
Center B Tower

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

4,630

4,690

5.4%

4,610

5.3%
5.5%
(Note 7)

5.7%

252

5.5%

Hanyu Logistics Center

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

4,110

4,140

6.1%

4,100

5.9%

6.3%

257

6.8%

Kawaguchi Logsitics Center B Daiwa Real Estate
Tower
Appraisal Co., Ltd.

January 31,
2013

3,990

4,010

5.4%

3,980

5.2%

5.6%

221

5.9%

Kawaguchi Logsitics Center A Daiwa Real Estate
Tower
Appraisal Co., Ltd.

January 31,
2013

2,980

2,990

5.8%

2,970

5.6%

6.0%

173

6.1%

Atsugi-Minami Logsitics
Center A Tower

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

2,840

2,870

5.4%

2,820

5.3%
5.5%
(Note 8)

5.7%

156

5.8%

Ota Nitta Logistics Center

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

3,620

3,640

6.5%

3,610

6.3%

6.7%

241

7.1%

Ota Higashi-Shinmachi
Logistics Center

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

2,330

2,350

6.4%

2,320

6.2%

6.6%

153

7.1%

Ota Kiyohara Logistics Center

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

688

689

6.4%

687

6.2%

6.6%

46

7.1%

Chiyodamachi Logistics
CenterDaiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

355

356

6.7%

354

6.2%

6.6%

26

8.1%

-

-

125,153

-

-

-

-

-

6,960

5.7%

Property Name

Logistics Sub-total

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

Retail (land withleasehold interest)

RetailUse

Capitalization Approach Price (million yen)
Direct Capitalization
Discounted Cash Flow Approach
ApproachTerminal
Capitalization
Discount
Price
Price
Capitalization
Rate
Rate
Rate

Appraiser

Appraisal
Date

AppraisalValue( million yen)
(Note 1)

Morisia Tsudanuma

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

17,00016,8005.8%

17,100

5.6%

6.0%

1,149

6.9%

Yokosuka More’s City

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

13,90014,1005.9%

13,800

5.9%

6.2%

879

6.5%

EQUINIA Shinjuku

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

4,320

4,310

4.5%

4,320

4.3%

4.7%

203

4.8%

Kawasaki More’s

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

4,100

4,130

5.2%

4,090

5.2%

5.5%

261

6.5%

EQUINIA Ikebukuro

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

4,060

3,970

4.8%

4,100

4.6%

5.0%

195

4.9%

covirna Machida

Japan Real Estate
Institute

January 31,
2013

3,550

3,580

6.2%

3,520

5.8%

6.2%

226

6.6%

Nitori Makuhari

Japan Real Estate
Institute

January 31,
2013

3,200

3,240

5.9%

3,160

5.7%

6.2%

190

6.2%

Konami Sports Club Fuchu

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

2,940

2,950

6.0%

2,940

5.8%

6.2%

169

6.2%

FESTA SQUAREJapan Real Estate
Institute

January 31,
2013

2,710

2,720

6.2%

2,700

5.9%

6.4%

168

6.5%

GEMS Shibuya

Daiwa Real EstateAppraisal Co., Ltd.

March 1,
2013

2,490

2,500

5.1%

2,490

4.9%

5.3%

126

5.1%

Sundai Azamino

Japan Real Estate
Institute

January 31,
2013

1,760

1,770

6.1%

1,750

5.7%

6.4%

108

6.4%

EQUINIA Aobadai

Japan Real Estate
Institute

January 31,
2013

1,650

1,660

6.2%

1,640

6.0%

6.4%

109

7.0%

Megalos Kanagawa

Japan Real Estate
Institute

January 31,
2013

1,090

1,100

6.4%

1,080

6.3%

7.0%

75

7.5%

Izumiya Senrioka

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

9,590

9,480

6.0%

9,640

5.8%
6.2%
(Note 9)

6.3%

585

6.6%

Merad Owada

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

6,850

6,790

6.5%

6,880

6.3%

6.7%

459

6.9%

Izumiya Yao

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

4,530

4,640

6.3%

4,480

6.6%

307

7.0%

Izumiya Obayashi

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

3,110

3,150

6.4%

3,090

6.7%

220

7.3%

Ichibancho Stear

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

4,970

4,800

5.3%

5,040

5.6%

252

5.4%

EQUINIA Aobadori

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

1,720

1,570

5.9%

1,780

6.1%

6.2%

103

6.3%

Mitsubishi Motors Meguro

Japan Real Estate
Institute

January 31,
2013

2,800

-

-

2,800

5.5%

-

155

5.7%

Mitsubishi Motors Chofu

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

1,820

-

-

1,820

5.3%

-

93

5.3%

Mitsubishi Motors Shibuya

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

1,690

-

-

1,690

5.1%

-

86

5.5%

Property Name

6.1%
6.5%
(Note 10)6.2%
6.6%
(Note 11)
5.3%
5.5%
(Note 12)NOI Yield(NOI÷Acquisition
NOI
Price (Scheduled)(Note 2)
(Note 3)

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

Retail(land with leasehold interest)

Use

Capitalization Approach Price (million yen)
Direct Capitalization
Discounted Cash Flow Approach
ApproachTerminal
Capitalization
Discount
Price
Price
Capitalization
Rate
Rate
Rate

Property Name

Appraiser

Appraisal
Date

AppraisalValue( million yen)
(Note 1)

Mitsubishi Motors Nerima

Japan Real Estate
Institute

January 31,
2013

1,270

-

-

1,270

5.6%

-

70

5.7%

Mitsubishi Motors Kawasaki

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

1,010

-

-

1,010

7.0%

7.4%

73

7.7%

Mitsubishi Motors Takaido

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

888

-

-

888

5.2%

-

44

5.3%

Mitsubishi Motors Katsushika

Japan Real Estate
Institute

January 31,
2013

811

-

-

811

5.5%

-

44

5.6%

Mitsubishi Motors HigashiKurume

Japan Real Estate
Institute

January 31,
2013

812

-

-

812

7.0%

-

55

6.9%

Mitsubishi Motors Setagaya

Japan Real Estate
Institute

January 31,
2013

777

-

-

777

5.6%

-

43

5.7%

Mitsubishi Motors Suginami

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

780

-

-

780

5.3%

5.7%

39

5.3%

Mitsubishi Motors Sekimachi

Japan Real Estate
Institute

January 31,
2013

612

-

-

612

5.6%

-

34

5.8%

Mitsubishi Motors HigashiYamato

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

484

-

-

484

8.5%

8.9%

42

9.5%

Mitsubishi Motors
Motosumiyoshi

Japan Real Estate
Institute

January 31,
2013

373

-

-

373

6.0%

-

22

6.0%

Mitsubishi Motors Kawagoe

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

354

-

-

354

6.2%

6.6%

22

6.4%

Mitsubishi Motors Edogawa

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

207

-

-

207

5.6%

-

10

5.2%

Mitsubishi Motors Sayama

Tanizawa Sogo
Appraisal Co., Ltd.

January 31,
2013

165

-

-

165

8.8%

9.2%

14

9.2%

Mitsubishi Motors Ibaraki
Maintenance Center

Daiwa Real EstateAppraisal Co., Ltd.

January 31,
2013

875

-

-

875

6.1%

-

48

6.0%

Retail Sub-total--

109,268

-

-

-

-

-

6,696

6.3%

Total

-

-

234,421

-

-

-

-

-

13,6576.0%(Note 1)NOI Yield(NOI÷Acquisition
NOI
Price (Scheduled)(Note 2)
(Note 3)

“Appraisal Value” indicates the figures appraised by respective real estate appraisers.
The real estate appraisal values are no more than an indication of the opinions on the value of the appraised real estate at thetime of appraisal of respective real estate appraisers (appraisal institutions) that appraised the properties in accordance with
the Act on Real Estate Appraisal (Law No. 152, 1963), real estate appraisal standards, etc. Reappraisal of the real estate may
result in different appraisal values depending on the real estate appraiser, methods of appraisal or period. Also, the appraisal
values of real estate do not promise or guarantee the possibility of transactions at present or in the future at the indicatedappraisal values.
Furthermore, the cost approach and income approach (direct capitalization approach or discounted cash flow approach) areused in calculating the appraisal values. The income approach is used if the real estate’s price is based on an emphasis on
investment profitability in the market and it is seen as an investment target for qualified institutional investors, etc. The
cumulative value of the cost approach is used as an index to verify the capitalization approach price.
Among methods of seeking the indicated value by the income approach (a method of seeking the estimated value of realestate by seeking the sum of the present value of the net revenue the real estate is expected to generate in the future), thedirect capitalization approach is a method where the net revenue in a certain period is restored using the capitalization rate.
Among methods of seeking the indicated value by the income approach, the discounted cash flow approach is a method where
the net revenues and return value arising in multiple successive periods are discounted to present value according to theirperiods and totaled.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

(Note 2)“NOI” indicates the net operating income calculated by the direct capitalization approach shown in the appraisal report for
properties other than land with leasehold interest, and the initial-year net operating income calculated by the discounted cash
flow approach shown in the appraisal report for land with leasehold interest, both rounded down to the nearest million yen.
Accordingly, the total of “NOI” of respective properties may not be the same with the value shown in the Total column.
Furthermore, NOI represents income before deducting depreciation, and is different from NCF (net cash flow) that adds
management profits such as leasehold deposits to NOI and deducts capital expenditures from NOI.
(Note 3) “NOI Yield (NOI÷Acquisition Price (Scheduled)” indicates the figures obtained by dividing the NOI value by the acquisition
price (scheduled), rounded to the first decimal place. Furthermore, the “Logistics Subtotal,” “Retail Subtotal” and “Total”
indicate the figures obtained by dividing the sum total of the NOI of respective acquired assets (scheduled) by the sum totalof the acquisition price (scheduled), rounded down to the first decimal place.
(Note 4) The discount rate of Landport Urayasu is 5.0% for the 1st to 2nd years since the appraisal date and 5.1% for the 3rd to 11th
years since the appraisal date.
(Note 5) The discount rate of Landport Itabashi is 5.1% for the 1st to 2nd years since the appraisal date and 5.2% for the 3rd to 11th
years since the appraisal date.
(Note 6) The discount rate of Landport Atsugi is 5.2% for the 1st to 4th years after the appraisal date and 5.4% for the 5th to 11th years
since the appraisal date.
(Note 7) The discount rate of Atsugi-Minami Logistics Center B Tower is 5.3% for the 1st to 2nd years since the appraisal date and5.5% for the 3rd to 11th years since the appraisal date.
(Note 8) The discount rate of Atsugi-Minami Logistics Center A is 5.3% for the 1st to 10th years since the appraisal date and 5.5% for
the 11th year since the appraisal date.
(Note 9) The discount rate of Izumiya Senrioka is 5.8% for the 1st to 10th years since the appraisal date and 6.2% for the 11th year
since the appraisal date.
(Note 10) The discount rate of Izumiya Yao is 6.1% for the 1st to 10th years since the appraisal date and 6.5% for the 11th year since theappraisal date.
(Note 11) The discount rate of Izumiya Obayashi is 6.2% for the 1st to 6th years since the appraisal date and 6.6% for the 7th to 11th
years since the appraisal date.
(Note 12) The discount rate of Ichibancho Stear is 5.3% for the 1st to 3rd years since the appraisal date and 5.5% for the 4th to 11th
years since the appraisal date.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

Exhibit 2 Overview of Building Condition Investigation Report and Overview of Earthquake Risk Analysis(Including Assets to be Acquired)Use

Preparer of Building Condition
Investigation Report

Emergency Short-Term Long-Term
RepairRepairRepairPreparation Date Expenses
Expenses
Expenses(million yen) (million yen) (million yen)
(Note 1)
(Note 2)
(Note 3)

Landport Urayasu

Shimizu Corporation

February 2013

0

0

292

4.61

Landport Itabashi

Shimizu Corporation

February 2013

0

0

176

6.17

Property Name

Landport Kawagoe
Landport Atsugi
Sagamihara Tana Logistics Center
Sagamihara Onodai Logistics Center
Landport Hachioji
Landport Kasukabe
Funabashi Logistics Center
Logistics

Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.

March 2013

0

0

310

4.85

February 2013

0

0

101

10.06

March 2013

0

0

162

4.92

Shimizu Corporation

February 2013

0

0

427

12.96

February 2013

0

0

83

11.29

February 2013

0

0

78

7.33

February 2013

0

0

425

5.24

February 2013

0

0

10

12.38

February 2013

0

0

84

5.15

February 2013

0

0

155

5.05

February 2013

0

0

193

6.32

February 2013

0

0

87

12.35

February 2013

0

0

113

2.01

February 2013

0

0

56

1.39

February 2013

0

0

22

1.39

February 2013

0

0

53

7.23

-

0

0

2,835

5.76

Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Shimizu Corporation

Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Hanyu Logistics Center
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Kawaguchi Logsitics Center B Tower
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Kawaguchi Logsitics Center A Tower
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Atsugi-Minami Logsitics Center A Tower
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Ota Nitta Logistics Center
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Ota Higashi-Shinmachi Logistics Center
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Ota Kiyohara Logistics Center
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Chiyodamachi Logistics Center
Consulting Co., Ltd.
Atsugi-Minami Logistics Center B Tower

Logistics Sub-total

PML(%)(Note 4)-

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

Preparer of Building Condition
Investigation Report

Emergency Short-Term Long-Term
RepairRepairRepairPreparation Date Expenses
Expenses
Expenses(million yen) (million yen) (million yen)
(Note 1)
(Note 2)
(Note 3)Morisia Tsudanuma

Tokio Marine & Nichido Risk
Consulting Co., Ltd.

February 2013

0

0

2,540

5.93

Yokosuka More’s City

Shimizu Corporation

February 2013

0

144

814

12.79

February 2013

0

0

221

7.5

February 2013

0

1

731

11.24

February 2013

0

0

144

10.82

February 2013

0

300

120

14.8

February 2013

0

0

77

5.93

Use

Property NameEQUINIA Shinjuku
Kawasaki More’s
EQUINIA Ikebukuro
covirna machida
Nitori Makuhari

RetailTokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Shimizu Corporation
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.

PML(%)
(Note 4)

Konami Sports Club Fuchu

Shimizu Corporation

February 2013

0

0

204

2.4

FESTA SQUARE

Shimizu Corporation

February 2013

0

0

43

6.36

March 2013

0

0

14

1.81

February 2013

0

0

31

6.93

February 2013

0

0

137

9.91

February 2013

0

0

94

11.24

February 2013

0

0

239

14.44

February 2013

0

0

270

10.16

February 2013

0

0

168

14.37

February 2013

0

0

236

12.95

February 2013

0

0

66

2.76

February 2013

0

0

81

0.34

GEMS Shibuya
Sundai Azamino
EQUINIA Aobadai
Megalos Kanagawa
Izumiya Senrioka
Merad Owada
Izumiya Yao
Izumiya Obayashi
Ichibancho Stear
EQUINIA Aobadori

Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.
Tokio Marine & Nichido Risk
Consulting Co., Ltd.

Retail Sub-total

-

-

0

445

6,238

5.60

Total

-

-

0

445

9,073

5.28

(Note 1) “Emergency Repair Expenses” indicate the sum of repair expenses for items having failures that will functionally hinder daily
operations or items that are legally instructed for improvement but are not yet repaired (rounded down to the nearest million
yen).
(Note 2) “Short-Term Repair Expenses” indicate the expenses for repairs that have to be carried out within one year, such as items thatare deteriorated and renovation is desirable as soon as possible and items that would have failure if left unrepaired, except for
expenses for standard repairs or for replacement of internal fittings and facilities (rounded down to the nearest million yen).
(Note 3) “Long-Term Repair Expenses” indicate the estimates that are the sum total of forecasted long-term (12 years) repair expenses(rounded down to the nearest million yen).
(Note 4) “PML” indicates the probable losses caused by a major earthquake, as a percentage of the expected recovery cost to thereplacement cost. PML is calculated based on the statistical assumption that within next 475 years (10% probability of once
every 50 years, i.e., average life time of buildings) of major earthquake occurring. The indicated figures are based on the report
prepared by NKSJ Risk Management, Inc.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

Exhibit 3 Portfolio List (Including Assets to be Acquired)
Use

Logistics

Acquisition Price(Scheduled)(million yen)
(Note 2)
17,40015,71013,70011,41010,600
8,700
8,250
7,340
4,660
4,590
3,810
3,750
2,830
2,690
3,430
2,170
650
330

Percentage to
Total (%)
(Note 3)

Appraisal Value(million yen)
(Note 4)

7.6%
6.9%
6.0%
5.0%
4.7%
3.8%
3.6%
3.2%
2.0%
2.0%
1.7%
1.6%
1.2%
1.2%
1.5%
1.0%
0.3%
0.1%

17,600
16,10013,70011,60010,900
9,020
8,520
7,420
4,750
4,630
4,110
3,990
2,980
2,840
3,620
2,330
688
355

122,02053.6%

125,153

Morisia Tsudanuma

16,6007.3%

17,000

Yokosuka More’s City

13,6406.0%

13,900June 14, 2013
June 14, 2013

EQUINIA Shinjuku
Kawasaki More’s
EQUINIA Ikebukuro
covirna Machida
Nitori Makuhari
Konami Sports Club Fuchu
FESTA SQUAREGEMS Shibuya
Sundai Azamino
EQUINIA Aobadai
Megalos Kanagawa
Izumiya Senrioka
Merad Owada
Izumiya Yao
Izumiya Obayashi
Ichibancho Stear
EQUINIA Aobadori
Mitsubishi Motors Meguro
Mitsubishi Motors Chofu
Mitsubishi Motors Shibuya
Mitsubishi Motors Nerima
Mitsubishi Motors Kawasaki
Mitsubishi Motors Takaido
Mitsubishi Motors Katsushika
Mitsubishi Motors Higashi-Kurume
Mitsubishi Motors Setagaya
Mitsubishi Motors Suginami
Mitsubishi Motors Sekimachi
Mitsubishi Motors Higashi-Yamato
Mitsubishi Motors Motosumiyoshi
Mitsubishi Motors Kawagoe
Mitsubishi Motors Edogawa
Mitsubishi Motors Sayama
Mitsubishi Motors Ibaraki MaintenanceCenter

4,260
4,000
3,990
3,440
3,080
2,730
2,600
2,490
1,700
1,560
1,000
8,930
6,640
4,406
3,020
4,700
1,640
2,740
1,760
1,570
1,240
950
850
800
800
770
740
600
450
370
350
200
160

1.9%
1.8%
1.8%
1.5%
1.4%
1.2%
1.1%
1.1%
0.7%
0.7%
0.4%
3.9%
2.9%
1.9%
1.3%
2.1%
0.7%
1.2%
0.8%
0.7%
0.5%
0.4%
0.4%
0.4%
0.4%
0.3%
0.3%
0.3%
0.2%
0.2%
0.2%
0.1%
0.1%

4,320
4,100
4,060
3,550
3,200
2,940
2,710
2,490
1,760
1,650
1,090
9,590
6,850
4,530
3,110
4,970
1,720
2,800
1,820
1,690
1,270
1,010
888
811
812
777
780
612
484
373
354
207
165

June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 13, 2013
June 13, 2013
June 13, 2013
July 31, 2013
June 14, 2013
June 14, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 14, 2013
June 14, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013
June 13, 2013

820

0.4%

875

June 13, 2013

105,596
227,61646.4%
100.0%

109,268
234,421

Area(Note 1)

Greater Tokyo

Other areas

Property Name
Landport Urayasu
Landport Itabashi
Landport Kawagoe
Landport Atsugi
Sagamihara Tana Logistics Center
Sagamihara Onodai Logistics Center
Landport Hachioji
Landport Kasukabe
Funabashi Logistics Center
Atsugi-Minami Logistics Center B Tower
Hanyu Logistics Center
Kawaguchi Logsitics Center B Tower
Kawaguchi Logsitics Center A Tower
Atsugi-Minami Logsitics Center A Tower
Ota Nitta Logistics Center
Ota Higashi-Shinmachi Logistics Center
Ota Kiyohara Logistics Center
Chiyodamachi Logistics Center

Logistics
Sub-total

Greater Tokyo

RetailKinki Area

Other areas

Retail (landwithGreater Tokyo
leaseholdinterest)

Kinki Area
Retail Sub-total

Total

Date of Acquisition(Scheduled)
June 14, 2013
June 14, 2013
July 31, 2013
June 14, 2013
July 19, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013
June 14, 2013--

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

(Note 1) “Greater Tokyo” refers to Tokyo Prefecture, Kanagawa Prefecture, Chiba Prefecture and Saitama Prefecture. “Kinki Area” refers
to Osaka Prefecture, Kyoto Prefecture, Hyogo Prefecture and Nara Prefecture. “Chukyo Area” refers to Aichi Prefecture, Gifu
Prefecture and Mie Prefecture. “Other Areas” refers to cabinet-order designated cities, prefectural capitals, and cities having a
population of at least 100,000 and their peripheral areas, excluding Greater Tokyo, Kinki Area and Chukyo Area.
(Note 2) “Acquisition Price (Scheduled)” indicates the amount excluding expenses required for the acquisition of relevant properties, suchas transaction brokerage fees and taxes and duties (or the transaction price of properties shown in the sales agreement withsuspensive conditional clauses).
(Note 3) “Percentage to Total” indicates the ratio of the acquisition price (scheduled) of respective properties to the total acquisition price(scheduled) of the entire portfolio (54 properties in total). Furthermore, as the figures were rounded to the first decimal place,the total may not necessarily be 100%.
(Note 4) “Appraisal Value” indicates the value appraised by respective real estate appraisers (based on the value estimated by the appraisers
using the price calculated by the capitalization approach as the standard as of the respective appraisal dates shown in the Exhibit
1: Appraisal Summary (Including Assets to be Acquired) above.)

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

Exhibit 4 Overview of Buildings, Etc. (Including Assets to be Acquired)
Use

Area
(Note １)

Logistics

Greater Tokyo

Property Name

Occupancy
Rate(Note 4)

No. ofTenants(Note 5)

Annual Rent
(million yen)
(Note 6)

Leasehold andSecurity Deposits(million yen)
(Note 7)

Urayasu-shi,
Chiba

May 2008

70,045.85

70,045.85

100.0%

2(Note 8)(Note 8)Landport Itabashi

Itabashi-ku,
Tokyo

January 2008

52,794.55

52,794.55

100.0%

2(Note 8)(Note 8)Landport Kawagoe

Kawagoe-shi,
Saitama

May 2009

71,569.89

71,569.89

100.0%

2(Note 8)(Note 8)Landport Atsugi

Atsugi-shi,
Kanagawa

March 2007

47,995.23

47,995.23

100.0%

2(Note 8)(Note 8)

Sagamihara Tana Logistics Center

Sagamihara-shi,
Kanagawa

October 2007

50,450.00

50,450.00

100.0%

1(Note 8)(Note 8)

Sagamihara Onodai Logistics Center

Sagamihara-shi,
Kanagawa

August 2000

57,448.03

57,448.03

100.0%

1(Note 8)(Note 8)Landport Hachioji

Hachioji-shi,Tokyo

November 2008

34,896.32

34,896.32

100.0%

1(Note 8)(Note 8)Landport Kasukabe

Kasukabe-shi,
Saitama

June 2009

29,630.48

29,630.48

100.0%

1(Note 8)(Note 8)

Funabashi Logistics Center

Funabashi-shi,
Chiba

September 1991

30,641.98

30,641.98

100.0%

2(Note 8)(Note 8)

Atsugi-Minami Logistics Center B Tower

Atsugi-shi,
Kanagawa

May 2005

24,909.96

24,909.96

100.0%

1(Note 8)(Note 8)

Hanyu Logistics Center

Hanyu-shi,
SaitamaFebruary 2006

24,850.80

24,850.80

100.0%

1(Note 8)(Note 8)Kawaguchi Logsitics Center B Tower

Kawaguchi-shi,
SaitamaApril 1996

13,648.70

13,648.70

100.0%

1(Note 8)(Note 8)Kawaguchi Logsitics Center A Tower

Kawaguchi-shi,
Saitama

September 1991

12,003.57

12,003.57

100.0%

1(Note 8)(Note 8)

Atsugi-Minami Logsitics Center A Tower

Atsugi-shi,
Kanagawa

October 2003

9,825.52

9,825.52

100.0%

1(Note 8)(Note 8)

Ota Nitta Logistics CenterOta-shi,Gunma

March 2003

42,328.00

42,328.00

100.0%

1(Note 8)(Note 8)

Ota Higashi-Shinmachi Logistics CenterOta-shi,
Gunma

August 2008

23,584.72

23,584.72

100.0%

1(Note 8)(Note 8)

Ota Kiyohara Logistics CenterOta-shi,Gunma

May 2004

9,397.38

9,397.38

100.0%

1(Note 8)(Note 8)

Chiyodamachi Logistics Center

Oura-gun,
Gunma

January 1999

4,592.00

4,592.00

100.0%

1(Note 8)(Note 8)-610,612.98

610,612.98

100.0%

23

8,214

3,948

Morisia Tsudanuma

Narashino-shi,
Chiba

Low-rise retail building: October
1978

39,369.43

39,222.33

99.6%

124

1,745

892

Logistics Sub-total

RetailCompletion

Leased Floor
Space
(m2)
(Note 3)

Landport Urayasu

Other Areas

Greater Tokyo

Location(as of January 31, 2013)

Leasable Floor
Space
(m2)
(Note 2)-

Parking building: November 1987

Yokosuka More’s City

Yokosuka-shi,
Kanagawa

July 1997

29,383.65

29,383.65

100.0%

1(Note 8)(Note 8)EQUINIA Shinjuku

Shinjuku-ku,
TokyoMarch 1988

3,611.57

2,676.28

74.1%

8

253

211

Kawasaki More’s

Kawasaki-shi,
Kanagawa

August 1980

14,446.48

14,446.48

100.0%

1(Note 8)(Note 8)EQUINIA Ikebukuro

Toshima-ku,
Tokyo

October 1973

2,701.66

2,693.93

99.7%

14

273

239

covirna Machida

Machida-shi,Tokyo

September 1981

2,891.32

2,891.32

100.0%

7

274

145

Nitori Makuhari

Chiba-shi,
Chiba

November 2007

14,367.98

14,367.98

100.0%

1(Note 8)(Note 8)

Konami Sports Club Fuchu

Fuchu-shi,TokyoFebruary 2000

12,385.18

12,385.18

100.0%

1(Note 8)(Note 8)FESTA SQUARE

Saitama-shi,
Saitama

September 2008

7,480.63

7,480.63

100.0%

1(Note 8)(Note 8)GEMS Shibuya

Shibuya-ku,
Tokyo

September 2012

1,791.34

1,791.34

100.0%

10

162

128

Sundai Azamino

Yokohama-shi,
Kanagawa

November 2008

2,286.47

2,286.47

100.0%

1(Note 8)(Note 8)EQUINIA Aobadai

Yokohama-shi,
Kanagawa

November 1982

2,457.36

2,423.30

98.6%

8

145

135

Megalos Kanagawa

Yokohama-shi,
Kanagawa

1(Note 8)(Note 8)May 2002

6,217.85

6,217.85

100.0%

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

Use

Area
(Note １)

Suita-shi, Osaka

Merad Owada

Osaka-shi, Osaka

Izumiya Yao

Yao-shi, Osaka

Izumiya Obayashi

Takarazuka-shi,
Hyogo

Ichibancho Stear

Sendai-shi,
MiyagiOther Areas

Retail (land with leasehold interest)

EQUINIA Aobadori

Sendai-shi,
Miyagi

Leasable Floor
Space
(m2)
(Note 2)

Leased Floor
Space
(m2)
(Note 3)

Occupancy
Rate(Note 4)

Annual Rent
(million yen)
(Note 6)

Leasehold andSecurity Deposits(million yen)
(Note 7)

24,399.12

24,399.12

100.0%

1(Note 8)(Note 8)Retail: September 1994

14,941.54

14,941.54

Logistics: July 2000

5,856.50

5,856.50

100.0%

1(Note 8)(Note 8)34,198.01

34,198.01

100.0%

1(Note 8)(Note 8)

11,714.36

11,714.36

100.0%

1(Note 8)(Note 8)February 2006

4,582.81

4,582.81

100.0%

7

424

317

June 2008

4,030.37

4,030.37

100.0%

19

277

255

Completion

Annex: July 1999
Main building: June 2000

Newly built: July 2003
Expansion: April 2012

No. ofTenants(Note 5)

Newly built: 1973 September
Expansion: October 1977
Expansion: January 2001

Mitsubishi Motors Meguro

Meguro-ku,
Tokyo

-

3,381.19

3,381.19

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Chofu

Chofu-shi,
Tokyo

-

4,183.63

4,183.63

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Shibuya

Shibuya-ku,
Tokyo

-

1,421.31

1,421.31

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Nerima

Nerima-ku,
Tokyo

-

1,725.61

1,725.61

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Kawasaki

Kawasaki-shi,
Kanagawa-

3,057.02

3,057.02

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Takaido

Suginami-ku,
Tokyo

-

1,923.64

1,923.64

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Katsushika

Katsushika-ku,
Tokyo

-

1,930.05

1,930.05

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Higashi-Kurume

HigashiKurume-shi,
Tokyo

-

4,105.00

4,105.00

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Setagaya

Setagaya-ku,
Tokyo

-

1,305.78

1,305.78

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Suginami

Suginami-ku,
Tokyo

-

1,831.00

1,831.00

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Sekimachi

Nerima-ku,
Tokyo

-

989.77989.77100.0%

1(Note 8)(Note 8)Mitsubishi Motors Higashi-Yamato

Higashi-Yamatoshi, Tokyo

-

2,783.79

2,783.79

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Motosumiyoshi

Kawasaki-shi,
Kanagawa-

1,646.97

1,646.97

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Kawagoe

Kawagoe-shi,
Saitama-

2,462.40

2,462.40

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Edogawa

Edogawa-ku,
Tokyo

-

892.56892.56100.0%

1(Note 8)(Note 8)Mitsubishi Motors Sayama

Sayama-shi,
Saitama-

1,793.00

1,793.00

100.0%

1(Note 8)(Note 8)Mitsubishi Motors Ibaraki MaintenanceCenter

Ibaraki-shi,
Osaka

-

5,704.24

5,704.24

100.0%

1(Note 8)(Note 8)Greater Tokyo

Kinki Area

Location

Izumiya Senrioka

RetailKinki Area

Property Name

Retail Sub-total
Total

-

-

280,250.59

279,126.41

99.6%

225

8,465

4,767

-

-

890,863.57

889,739.39

99.9%

248

16,6808,715(Note 1) “Greater Tokyo” refers to Tokyo Prefecture, Kanagawa Prefecture, Chiba Prefecture and Saitama Prefecture. “Kinki Area”
refers to Osaka Prefecture, Kyoto Prefecture, Hyogo Prefecture and Nara Prefecture. “Chukyo Area” refers to Aichi Prefecture,
Gifu Prefecture and Mie Prefecture. “Other Areas” refers to cabinet-order designated cities, prefectural capitals, and cities
having a population of at least 100,000 and their peripheral areas, excluding Greater Tokyo, Kinki Area and Chukyo Area.
(Note 2) “Leasable Floor Space” is the total floor space of logistics facilities, retail properties, etc. that each asset is able to lease (ifcommon-use space and such are leased, such are included). Leasable floor space is not what is indicated in registries but is rather
floor space calculated based on area, completion drawings, etc. in the lease agreements and therefore will not necessarily be thesame as total floor space based on the registry and may exceed the total floor space. For land with leasehold interest, the area ofland in the registry is indicated as contracted area.
(Note 3) “Leased Floor Space” is the floor space which is being leased to end tenants with actually concluded lease agreements. (This is
the floor space indicated in lease agreements. However, for areas of logistics facilities and retail properties (if all of a rentalroom is collectively leased, then the whole area of the rental room), leased areas such as parking lots are not included. However,if the Master Lessee has a master lease for part or all of a rental room with a guaranteed rental scheme, the section is included
Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.

into leased floor area regardless of whether or not there is a lease agreement with an end tenant). For land with leaseholdinterest, the leased floor area of the land with leasehold interest is indicated.
(Note 4) “Occupancy Rate” is sought as the ratio of leased floor space against the total leasable floor space of each asset (figures arerounded to the first decimal place).
(Note 5) Regarding the calculation of the number of tenants, the lessee of a master lease agreement is counted as one when part or all ofa rental room is collectively leased for the purpose of subleasing and the lessee in the lease agreement (master lease agreement)
has concluded an agreement with the end tenant (sublessee that is actually using the room) for subleasing the rental room.
However, the total number of end tenants is indicated for assets with so-called pass-through scheme master lease agreements
where the rent received from lessees in the master lease agreement is equal to the rent that the lessee receives from end tenants.
Also, if several rental rooms are being leased to the same tenant at a certain asset, this is counted as one tenant, and if space inmultiple assets is being leased to the same tenant, they are counted separately, and the total number of tenants is indicated in thesubtotal and total sections.
(Note 6) For each asset, the annual rent is 12 times the amount of one month’s rent and common service fees in lease agreements
actually concluded with end tenants that are valid as of the end of January 2013 (amounts below one million yen are roundedoff). (If common-use space, etc. is being leased based on the lease agreement, rents for such are included, and if rents include
the amount equivalent for using parking space, such are included. Also, if the Master Lessee has a master lease for part or all ofa rental room with a guaranteed rental scheme, the rent for that section is based on the rent, etc. in the lease agreement
concluded with the Master Lessee.) Therefore, the total amount of annual rent revenue from each tenant may not be the sameamount as the amounts indicated in the subtotal and total sections. Furthermore, regarding tenants who have been exempt fromrent payment for a certain period of time in their agreements, such exemption periods are not considered in the above table andthe rents are calculated based on the monthly rent and common service fees after the exemption periods end. Also, the standard
levels of rents are used for tenants with rents that depend on sales.
(Note 7) “Leasehold and Security Deposits” is the total balance of leasehold and security deposits indicated in the lease agreements withend tenants of each asset as of the end of January 2013 (amounts below one million yen are rounded off). Therefore, the total
amount of leasehold and security deposits from each property may not be the same amount as the amounts indicated in thesubtotal and total sections.
(Note 8) Undisclosed as consent has not been obtained from tenants.

Note: This press release is a public announcement regarding the completion of property acquisitions of the Fund, and has not been prepared as an inducement or
invitation for investment. In addition, this press release does not constitute an offer of securities for sale in the U.S. Securities may not be offered or sold in the U.S.
without registration of the securities or gaining an exemption from registration of securities under the U.S. Securities Act of 1933. Any public offering of securities
to be conducted in the U.S. will be made by means of an English prospectus prepared in accordance with the U.S. Securities Act of 1933 that may be obtained fromthe issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer and its management, as well as its financial
statements.