For Translation Purposes Only
July 19, 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 the Fundcompleted acquisition of the following property out of the 54 properties mentioned in the Offering Circular for theIssue of New Investment Units and Secondary Offering (May 2013). Aside from the 52 properties acquired on June 13,
2013, June 14, 2013 and today, acquisition of the remaining two properties will complete on July 31, 2013.
1. Summary of the Acquisition
Property nameLocation

Sagamihara Tana Logistics Center

Sagamihara-shi, Kanagawa(1) Date of Agreement:(2) Date of Acquisition:(3) Seller :(4) Financing:(5) Form of Payment:(Note)

Acquisition price(million yen)
10,600

SellerHulic Co., Ltd.

April 23, 2013
July 19, 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

For further details of the debt financing, refer to “Notice Concerning Debt Financing” and “NoticeConcerning Interest-Rate Swap Agreement” released on July 16, 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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits management, as well as its financial statements.

12. Property Summary(1) Description of Acquired Property
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 thesetables. Furthermore, unless otherwise stated, each figure in the tables describing the overview of the respective
assets is as of January 31, 2013. In addition, each of the acquired properties or trust assets of beneficiary interests inreal 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” are based on
the information in the real estate registry. Note that “Completion” and “Structure/Floors” are for majorbuildings only.
- “Building Coverage Ratio” and “Floor Area Ratio” indicate figures determined in accordance with relevantlaws 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.
- “Total Leasable Floor Space” indicates the total area of leasable spaces of respective logistics facilities andretail facilities, 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 lease agreements or the
calculated areas based on the building completion drawings and other documents. As such, the Total Leasable
Floor Space is not necessarily equal to the Total Floor Space based on the indications in the registry and may
occasionally surpass the Total Floor Space. Land with leasehold interest 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 in each
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 and otherissues for respective properties, but also matters deemed important in consideration of the impact on theirappraisal 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 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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits management, as well as its financial statements.

2

Property Name

Type of Asset
AccessLocation (Street)
Registry

Land

Sagamihara Tana
Logistics Center

Category

Logistics Facility

Trustee of Beneficial Trust

Sumitomo Mitsui
Banking
Corporation

Trust beneficiary interest
Beneficial Trust Contract
Period
2.0 km from Kamimizo Station on the JR Sagami Line
3700 Tana, Chuo-ku, Sagamihara-shi, Kanagawa
3700-2 Aza-Akasaka,Tana, Chuo-ku,
Completion
Sagamihara-shi, Kanagawa
and others

Building
Coverage Ratio

60%

Floor Area Ratio

200%

ZoningExclusive Industrial
District

Land Area

46,388.57m2

Ownership

Ownership

Building

April 28, 2023

October 2007

Structure/Floor

SRC, 4F

Main Use

Storage

Total Floor Space

51,474.82m2

Type ofOwnership

Ownership

Property Management
Nomura Real Estate Development Co., Ltd., Nomura Building Management Co.,
CompanyLtd.
Master Lease Company–
Type of Master Lease–
Leasing Status
Total Leasable Floor
50,450.00m2
Space
Occupancy Rate
100.0%
Number of Tenants1(Note 1) According to the agreement between the current trustee of beneficiary trust and the tenant, in case thetrust beneficiary interest of the Property is to be sold to a third-party, the tenant shall be granted apreferential negotiation right for a certain period and the Fund will take over the obligations thereof
concerning the acquisition.
(Note 2) An elevator with incomplete building certification application is installed on the Property, but the Fundplans to install at its expense a substitute vertical transporter, after removing the elevator, soon after
acquisition of the Property (total of 12 million yen).

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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits management, as well as its financial statements.

3(2) Seller Profile
Company Name
Location
Representative
Business Description
CapitalRelationship with the Fund and theAsset Management Company

Hulic Co., Ltd.
7-3 Nihonbashi-Odenmacho, Chuo-ku, Tokyo
Saburo Nishiura, President and Chief Executive Officer
Owning, leasing, selling and buying and brokering real estate
21,951 million yen (as of December 31, 2012)
There is no capital relationship, personnel relationship or business
relationship to report between the said company and the Fund and theAsset Management Company, and the said company does not fall under
the definition of related party of the Fund or the Asset Management
Company.

3. Status of Owners
Sagamihara Tana Logistics Center is not an acquisition from a related party of the Fund or the Asset Management
Company.
4. Brokerage Profile
This information is undisclosed as the Fund has not obtained consent from the brokerage agency. The broker does
not fall under the definition of related parties as defined by the Act on Investment Trusts and Investment
Corporations.
5. Future Outlook
Concerning the forecasts of financial results of the Fund for the fiscal period ending August 31, 2013 (January 31,
2013 to August 31, 2013) and the fiscal period ending February 28, 2014 (September 1, 2013 to February 28, 2014),
refer to “Notice Concerning Revision of Forecasts of Financial Results and Distributions for the Fiscal Period Ending
August 31, 2013 and Fiscal Period Ending February 28, 2014” released on June 17, 2013.

[Exhibits]

Exhibit 1 Appraisal Summary (Including Assets to be Acquired)
Exhibit 2 Overview of Building Condition Investigation Report andOverview of Earthquake Risk Analysis (Including Assets to be Acquired)
Exhibit 3 Portfolio List (Including Assets to be Acquired)
Exhibit 4 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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits management, as well as its financial statements.

4

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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits 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)

NOI
(Note 2)NOI Yield(NOI÷Acquisition
Price (Scheduled)(Note 3)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)

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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits 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)

NOI
(Note 2)NOI Yield(NOI÷Acquisition
Price (Scheduled)(Note 3)

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)

“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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits 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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits 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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits 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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits management, as well as its financial statements.

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

Logistics

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

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

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

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

Retail Sub-total
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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits 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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits 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)

April 1996

13,648.70

13,648.70

100.0%

1

September 1991

12,003.57

12,003.57

100.0%

Kawaguchi-shi,
Saitama--(Note 8)(Note 8)1

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

Kawaguchi-shi,
SaitamaAtsugi-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

Low-rise retail building: October
1978

39,369.43

39,222.33

99.6%

124

1,745

892

Other Areas

Logistics Sub-total

Morisia Tsudanuma

RetailCompletion

Leased Floor
Space
(m2)
(Note 3)

Landport Urayasu

Kawaguchi Logsitics Center B Tower

Greater Tokyo

Location(as of January 31, 2013)

Leasable Floor
Space
(m2)
(Note 2)

Narashino-shi,
Chiba

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

May 2002

6,217.85

6,217.85

100.0%

1(Note 8)(Note 8)

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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits management, as well as its financial statements.

Use

Area

Property Name

(Note １)Retail (land with leasehold interest)

Annex: July 1999

(m2)
(Note 2)(m2)
(Note 3)

Occupancy

No. ofAnnual Rent

Rate
(Note 4)

Tenants(Note 5)(million yen)
(Note 6)

Leasehold andSecurity Deposits(million yen)
(Note 7)100.0%

1(Note 8)(Note 8)100.0%

1(Note 8)(Note 8)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

100.0%

1(Note 8)(Note 8)4,183.63

100.0%

1(Note 8)(Note 8)

1,421.31

1,421.31

100.0%

1(Note 8)(Note 8)-

1,725.61

1,725.61

100.0%

1(Note 8)(Note 8)

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

Mitsubishi Motors Sayama

Sayama-shi,
Saitama-

1,793.00

1,793.00

100.0%

Mitsubishi Motors Ibaraki MaintenanceCenter

Ibaraki-shi,
Osaka

-

5,704.24

5,704.24

100.0%

Suita-shi, Osaka

Merad Owada

Osaka-shi, Osaka

Izumiya Yao

Yao-shi, Osaka

Izumiya Obayashi

Takarazuka-shi,
Hyogo

Ichibancho Stear

Sendai-shi,
MiyagiEQUINIA Aobadori

Sendai-shi,
Miyagi

Mitsubishi Motors Meguro

Meguro-ku,
Tokyo

-

3,381.19

3,381.19

Mitsubishi Motors Chofu

Chofu-shi,
Tokyo

-

4,183.63

Mitsubishi Motors Shibuya

Shibuya-ku,
Tokyo

-

Mitsubishi Motors Nerima

Nerima-ku,
Tokyo

Mitsubishi Motors Kawasaki

Other Areas

Greater Tokyo

Kinki Area

Completion

Leased Floor
Space

Izumiya Senrioka

RetailKinki Area

Location

Leasable Floor
Space

Retail Sub-total
Total

24,399.12

24,399.12

Retail: September 1994

14,941.54

14,941.54

Logistics: July 2000

5,856.50

5,856.50

34,198.01

Main building: June 2000

Newly built: July 2003
Expansion: April 2012
Newly built: 1973 September
Expansion: October 1977
Expansion: January 2001--

(Note 8)(Note 8)1

(Note 8)(Note 8)1

(Note 8)(Note 8)--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
into leased floor area regardless of whether or not there is a lease agreement with an end tenant). For land with leasehold
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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits management, as well as its financial statements.

interest, 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 of1933 that may be obtained from the issuer of the securities or holder of the securities. The prospectus will contain detailed information about the issuer andits management, as well as its financial statements.