For Translation Purposes Only
March 26, 2014

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 Investment Assets (Equity Interest in Silent Partnership)
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or the “Fund”) announced thecompletion of acquisition of the silent partnership equity interest (the “Silent Partnership EquityInterest”) in a silent partnership operated by Ryoke Capital G.K. on March 25, 2014, and completionof acquisition of the trust beneficiary interest (the “Trust Beneficiary Interest”) in mainly real estate intrust on March 26, 2014 by Ryoke Capital G.K., stated in the “Notice Concerning Acquisition ofInvestment Assets (Equity Interest in Silent Partnership)”, released on November 29, 2013.
1. Summary of the Equity Interest in Silent Partnership Acquired by Nomura Master Fund
(1)
(2)
(3)
(4)
(5)
(6)

Type of asset: Equity interest in silent partnership investing mainly in real estate in trust
beneficiary interest
Name of asset: Ryoke Capital Godo Kaisha Silent Partnership Equity Interest
Target property: NIPPON EXPRESS CO., LTD. North Tokyo Distribution Center
Investment amount : ¥500 million (approximately 17.9% of total investment amount in thesilent partnership)
Date of acquisition of equity interest: March 25, 2014
Financing: Cash on hand

2. Summary of the Real Estate in Rrust Beneficiary Interst Acquired by Ryoke Capital G.K.
(1)
(2)
(3)
(Note)

Type of asset: Real estate in trust beneficiary interest
Target property: NIPPON EXPRESS CO., LTD. North Tokyo Distribution Center
Date of acquisition : March 26, 2014
The Fund has not determined to acquire the Trust Beneficiary Interest nor the target property, and the Fund does notguarantee to acquire these as of today.

Please refer to the “Notice Concerning Acquisition of Investment Assets (Equity Interest in SilentPartnership)” released on November 29, 2013 for the details of the silent partnership stated above, theSilent Partnership Equity Interest, and the Trust Beneficiary Interest.

- 1 -【Exhibit】
ExhibitPortfolio after Acquisition of the Asset* Nomura Real Estate Master Fund, Inc. URL:

http://www.nre-mf.co.jp/english- 2 -Exhibit
Portfolio after Acquisition of the Asset
Use

Logistics

Acquisition Price(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
122,020
16,600Percentage to Total(%)(Note 3)
7.3%
6.6%
5.8%
4.8%
4.5%
3.7%
3.5%
3.1%
2.0%
1.9%
1.6%
1.6%
1.2%
1.1%
1.4%
0.9%
0.3%
0.1%
51.3%
7.0%

Yokosuka More’s City

13,640

5.7%

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
June 14, 2013
June 14, 2013

Recipe SHIMOKITAEQUINIA 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 Maintenance Center

10,407
4,260
4,000
3,990
3,4403,080
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
820
116,003
238,023

4.4%
1.8%
1.7%
1.7%
1.4%
1.3%
1.1%
1.1%
1.0%
0.7%
0.7%
0.4%
3.8%
2.8%
1.9%
1.3%
2.0%
0.7%
1.2%
0.7%
0.7%
0.5%
0.4%
0.4%
0.3%
0.3%
0.3%
0.3%
0.3%
0.2%
0.2%
0.1%
0.1%
0.1%
0.3%
48.7%
100.0%

December 13, 2013
June 14, 2013June 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
June 13, 2013
-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 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

Logistics Sub-total
Morisia Tsudanuma

Greater Tokyo

RetailKinki Area

Other areas

Retail (landwith leasehold Greater Tokyointerest)

Kinki Area
Retail Sub-total

TotalInvestmentSecurities

GreaterTokyo

Ryoke Capital Godo Kaisha Silent Partnership
Equity Interest500-Date of Acquisition
June 14, 2013
June 14, 2013
July 31, 2013
June 14, 2013

March 25, 2014

(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 ChukyoArea.
(Note 2) The Acquisition Price is the amount (the amount of transaction payment of real estate, etc. described in the sales agreement
and the investment amount described in the Silent Partnership Agreement) excluding costs required to acquire the properties,etc. and the Silent Partnership Equity Interest (transaction brokerage fee, taxes and public dues, etc.).
(Note 3) “Percentage to Total” indicates the ratio of the acquisition price of respective properties to the total acquisition price of theentire portfolio (55 properties in total). The calculation of investment ratio excludes the Silent Partnership Equity Interest.
Furthermore, as the figures were rounded to the first decimal place, the total may not necessarily be 100%.