For Translation Purposes Only
June 12, 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 Debt Financing
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or the “Fund”) announced today that theFund will procure debt financing, as stated below.
1. Purpose
Nomura Master Fund has decided to procure the debt financing to be used for a part of the payment for theacquisition of the 54 properties planned to be acquired (total acquisition price of 227,616 million yen) detailedin “Section 2 Fund Information / 1 Status of Fund / 2 Investment Policies / (2) Investment Targets /(3) Summary of Assets Planned to be Acquired” of the Security Registration Statement (in Japanese)
filed on May 9, 2013, and the related miscellaneous expenses.
2. Details of Debt Financing(1) Short-Term Borrowing (Term for 1 year)
1. Lenders:
2. Amount:
3. Interest Rate:
4. Drawdown Date:
5. Loan Type:
6. Repayment Date:
7. Terms of Repayment:
8. Interest Payment Date:
9. Collateral:

The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking
Corporation, Mizuho Corporate Bank, Ltd., The Norinchukin Bank
8 billion yen
Base interest rate (JBA 1-month Japanese Yen TIBOR) +0.20% p.a.
June 13, 2013
Term loan (1 year with floating-rate, contracted on June 11, 2013)
May 26, 2014 (or the following business day if the date is a non-business day,or the prior business day if the date is in the next month)Lump-sum repayment on the repayment dateJuly 26, 2013, the first interest payment date, and 26th of every month
thereafter until May 26, 2014 (or the following business day if the date is a
non-business day, or the prior business day if the date is in the next month)
Unsecured, unguaranteed(2) Long-Term Borrowing (Term for 3 years and 6 months)
1. Lenders:

2. Amount:
3. Interest Rate:
4. Drawdown Date:

Note:

The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking
Corporation, Mizuho Corporate Bank, Ltd., Mitsubishi UFJ Trust andBanking Corporation, Sumitomo Mitsui Trust Bank, Ltd., The Norinchukin
Bank, Mizuho Trust & Banking Co., Ltd.
13 billion yen
Base interest rate (JBA 3-month Japanese Yen TIBOR) +0.225% p.a.*June 13, 2013This document is a public announcement regarding the debt financing and has not been prepared as an inducement or invitation for investment.
In addition, this press release does not compose a public offering of U.S. s ecurities. Excluding the cases in which registration of securities isperformed based on the Securities Act of 1933 or when being absolved from registration, public offering or sales of securitie s cannot beperformed in the U.S. In the case of performing a public offering of securities in the U.S., an English prospectus created based on the Securities
Act of 1933 will be used. The prospectus can be obtained through the issuing corporation or owners of the securities, and det ailed informationand financial statements concerning the issuing corporation and its administration will be recorded on them.

15. Loan Type:
6. Repayment Date:
7. Terms of Repayment:
8. Interest Payment Date:

9. Collateral:

Term loan (3.5 year with floating-rate, contracted on June 11, 2013)
November 26, 2016 (or the following business day if the date is a
non-business day, or the prior business day if the date is in the next month)Lump-sum repayment on the repayment dateAugust 26, 2013, the first interest payment date, and 26th of every February,
May, August, and November thereafter until November 26, 2016 (or thefollowing business day if the date is a non-business day, or the prior business
day if the date is in the next month)
Unsecured, unguaranteed*As announced in “Notice Concerning Conclusion of Interest-Rate Swap Agreement” released today, theinterest rate concerning the debt financing of 13 billion yen with the floating-rate is converted to a
fixed-rate of 0.64250% p.a. until November 26, 2016.
(3) Long-Term Borrowing (Term for 6 years)
1. Lenders:

2. Amount:
3. Interest Rate:
4. Drawdown Date:
5. Loan Type:
6. Repayment Date:
7. Term of Repayment:
8. Interest Payment Date:

9. Collateral:

The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking
Corporation, Mizuho Corporate Bank, Ltd., Mitsubishi UFJ Trust andBanking Corporation, Sumitomo Mitsui Trust Bank, Ltd., Mizuho Trust &Banking Co., Ltd.
9 billion yen
Base interest rate (JBA 3-month Japanese Yen TIBOR) +0.400% p.a.*June 13, 2013
Term loan (6 year floating-rate, contracted on June 11, 2013)
May 26, 2019 (or the following business day if the date is a non-business day,or the prior business day if the date is in the next month)Lump-sum repayment on the repayment dateAugust 26, 2013, the first interest payment date, and 26th of every February,
May, August, and November thereafter until May 26, 2019 (or the followingbusiness day if the date is a non-business day, or the prior business day if thedate is in the next month)
Unsecured, unguaranteed*As announced in “Notice Concerning Conclusion of Interest-Rate Swap Agreement” released today, theinterest rate concerning the debt financing of 9 billion yen with the floating-rate is converted to a fixed-rateof 1.11750% p.a. until May 26, 2019.
(4) Long-Term Borrowing (Term for 6 years)
1. Lenders:Development Bank of Japan Inc.
2. Amount:
1 billion yen
3. Interest Rate:
1.04875% p.a.
4. Drawdown Date:
June 13, 2013
5. Loan Type:Term loan (6 year with fixed-rate, contracted on June 11, 2013)
6. Repayment Date:
May 26, 2019 (or the following business day if the date is a non-business day,or the prior business day if the date is in the next month)
7. Terms of Repayment:
Lump-sum repayment on the repayment date
8. Interest Payment Date:
August 26, 2013, the first interest payment date, and 26th of every Februaryand August thereafter until May 26, 2019 (or the following business day if thedate is a non-business day, or the prior business day if the date is in the nextmonth)
9. Collateral:
Unsecured, unguaranteed(5) Long-Term Borrowing (Term for 7 years)
1. Lenders:

Note:

The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking
Corporation, Mizuho Corporate Bank, Ltd., Mitsubishi UFJ Trust andThis document is a public announcement regarding the debt financing and has not been prepared as an inducement or invitation for investment.
In addition, this press release does not compose a public offering of U.S. s ecurities. Excluding the cases in which registration of securities isperformed based on the Securities Act of 1933 or when being absolved from registration, public offering or sales of securitie s cannot beperformed in the U.S. In the case of performing a public offering of securities in the U.S., an English prospectus created based on the Securities
Act of 1933 will be used. The prospectus can be obtained through the issuing corporation or owners of the securities, and det ailed informationand financial statements concerning the issuing corporation and its administration will be recorded on them.

22. Amount:
3. Interest Rate:
4. Drawdown Date:
5. Loan Type:
6. Repayment Date:
7. Terms of Repayment
8. Interest Payment Date:

9. Collateral:

Banking Corporation, Sumitomo Mitsui Trust Bank, Ltd.
10 billion yen
Base interest rate (JBA 3-month Japanese Yen TIBOR) +0.500% p.a.*June 13, 2013
Term loan (7 year with floating-rate, contracted on June 11, 2013)
May 26, 2020 (or the following business day if the date is a non-business day,or the prior business day if the date is in the next month)Lump-sum repayment on the repayment dateAugust 26, 2013, the first interest payment date, and every 26th of February,
May, August, and November thereafter until May 26, 2020 (or the following
business day if the date is a non-business day, or the prior business day if thedate is in the next month)
Unsecured, unguaranteed*As announced in “Notice Concerning Conclusion of Interest-Rate Swap Agreement” released today, theinterest rate concerning the debt financing of 10 billion yen is a fixed-rate of 1.33750% p.a. until May 26,
2020.
(6) Long-Term Borrowing (Term for 7 years)
1. Lenders:
2. Amount:
3. Interest Rate:
4. Drawdown Date:
5. Loan Type:
6. Repayment Date:
7. Terms of Repayment:
8. Interest Payment Date:

9. Collateral:

Development Bank of Japan Inc.
800 million yen
1.25875% p.a.
June 13, 2013
Term loan (7 year with fixed-rate, contracted on June11, 2013)
May 26, 2020 (or the following business day if the date is a non-business day,or the prior business day if the date is in the next month)Lump-sum repayment on the repayment dateAugust 26, 2013, the first interest payment date, and every 26th of Februaryand August thereafter until May 26, 2020 (or the following business day if thedate is a non-business day, or the prior business day if the date is in the nextmonth)
Unsecured, unguaranteed(7) Long-Term Borrowing (Term for 8 years)
1. Lenders:
2. Amount:
3. Interest Rate:
4. Drawdown Date:
5. Loan Type:
6. Repayment Date:
7. Terms of Repayment:
8. Interest Payment Date:

9. Collateral:

The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking
Corporation, Mizuho Corporate Bank, Ltd.
8 billion yen
Base interest rate (JBA 3-month Japanese Yen TIBOR) +0.600% p.a.*June 13, 2013
Term loan (8 year with floating-rate, contracted on June 11, 2013)
May 26, 2021 (or the following business day if the date is a non-business day,or the prior business day if the date is in the next month)Lump-sum repayment on the repayment dateAugust 26, 2013, the first interest payment date, and every 26th of February,
May, August, and November thereafter until May 26, 2021 (or the following
business day if the date is a non-business day, or the prior business day if thedate is in the next month)
Unsecured, unguaranteed*As announced in “Notice Concerning Conclusion of Interest-Rate Swap Agreement” released today, theinterest rate concerning the debt financing of 8 billion yen is a fixed-rate of 1.56250% p.a. until May 26,2021.

Note:

This document is a public announcement regarding the debt financing and has not been prepared as an inducement or invitation for investment.
In addition, this press release does not compose a public offering of U.S. s ecurities. Excluding the cases in which registration of securities isperformed based on the Securities Act of 1933 or when being absolved from registration, public offering or sales of securitie s cannot beperformed in the U.S. In the case of performing a public offering of securities in the U.S., an English prospectus created based on the Securities
Act of 1933 will be used. The prospectus can be obtained through the issuing corporation or owners of the securities, and det ailed informationand financial statements concerning the issuing corporation and its administration will be recorded on them.

3(8) Long-Term Borrowing (Term for 8 years)
1. Lenders:
2. Amount:
3. Interest Rate:
4. Drawdown Date:
5. Loan Type:
6. Repayment Date:
7. Terms of Repayment:
8. Interest Payment Date:

9. Collateral:

Development Bank of Japan Inc.
1 billion yen
1.46375% p.a.
June 13, 2013
Term loan (8 year with fixed-rate, contracted on June 11, 2013)
May 26, 2021 (or the following business day if the date is a non-business day,or the prior business day if the date is in the next month)Lump-sum repayment on the repayment dateAugust 26, 2013, the first interest payment date, and every 26th of Februaryand August thereafter until May 26, 2021 (or the following business day if thedate is a non-business day, or the prior business day if the date is in the nextmonth)Unsecured, unguaranteed(9) Long-Term Borrowing (Term for 12 years)
1. Lenders:
2. Amount:
3. Interest Rate:
4. Drawdown Date:
5. Loan Type:
6. Repayment Date:

7. Terms of Repayment:
8. Interest Payment Date:

9. Collateral:

Sumitomo Mitsui Banking Corporation
1 billion yen
Base interest rate (JBA 3-month Japanese Yen TIBOR) +1.000% p.a.*June 13, 2013
Term loan (12 year with floating-rate, contracted on June 11, 2013)
August 26, 2013, the first interest payment date, and every 26th of February,May, August, and November thereafter until May 26, 2025 (or the following
business day if the date is a non-business day, or the prior business day if thedate is in the next month)
Repay 10.7 million yen on each repayment date from August 26, 2013 to May
25, 2025 and lump-sum repayment of the total unpaid amount on May 26,
2025, the final repayment dateAugust 26, 2013, the first interest payment date, and every 26th of February,
May, August, and November thereafter until May 26, 2025 (or the following
business day if the date is a non-business day, or the prior business day if thedate is in the next month)
Unsecured, unguaranteed*As announced in “Notice Concerning Conclusion of Interest-Rate Swap Agreement” released today, theinterest rate concerning the debt financing of 1 billion yen is a fixed-rate of 2.21872% p.a. until May 26,2025.
(10) Long-Term Borrowing (Term for 12 years)
1. Lenders:
2. Amount:
3. Interest Rate:
4. Drawdown Date:
5. Loan Type:
6. Repayment Date:

7. Terms of Repayment:
8. Interest Payment Date:

Note:

The Bank of Tokyo-Mitsubishi UFJ, Ltd.
1 billion yen
2.17000% p.a.
June 13, 2013
Term loan (12 year with fixed-rate, contracted on June 11, 2013)
August 26, 2013, the first interest payment date, and every 26th of February,
May, August, and November thereafter until May 26, 2025 (or the following
business day if the date is a non-business day, or the prior business day if thedate is in the next month)
Repay 10.7 million yen on each repayment date from August 26, 2013 to May
25, 2025 and lump-sum repayment of the total unpaid amount on May 26,
2025, the final repayment dateAugust 26, 2013, the first interest payment date, and every 26th of February,
May, August, and November thereafter until May 26, 2025 (or the following
business day if the date is a non-business day, or the prior business day if theThis document is a public announcement regarding the debt financing and has not been prepared as an inducement or invitation for investment.
In addition, this press release does not compose a public offering of U.S. s ecurities. Excluding the cases in which registration of securities isperformed based on the Securities Act of 1933 or when being absolved from registration, public offering or sales of securitie s cannot be
performed in the U.S. In the case of performing a public offering of securities in the U.S., an English prospectus created based on the Securities
Act of 1933 will be used. The prospectus can be obtained through the issuing corporation or owners of the securities, and det ailed informationand financial statements concerning the issuing corporation and its administration will be recorded on them.

4

date is in the next month)
Unsecured, unguaranteed

9. Collateral:

The base interest rate applicable to the computation period of interest which is paid on the interest payment dateis determined two business days prior to each interest payment date. With regard to base interest rate, please see
the website of the Japanese Bankers Association (http://www.zenginkyo.or.jp/tibor/).
3. Use of funds
Loan proceeds will be used for a part of payment for the acquisition of the aforementioned 54 properties
planned to be acquired and related miscellaneous expenses.
4. Status of Interest-bearing Debt after Drawdown(Unit: millions of yen）
Increase/Decreaseamount

Before the drawdown

After the drawdown

08,000+8,00000－00－0

8,000+8,000Long-term borrowing

044,800+44,800

Investment corporation bonds

00－Sub-total

044,800+44,800

Total

052,800+52,800

Short-term borrowing
Long-term borrowing to berepaid within a year
Investment corporation bonds
to be repaid within a year
Sub-total

5. OtherNo change has been made to the content of “Section 2 Fund Information / 1 Status of Fund / 3
Investment Risks” of the Security Registration Statement (in Japanese) filed on May 9, 2013 regarding
the risk involved in the debt financing.
*Nomura Real Estate Master Fund, Inc. URL: http://www.nre-mf.co.jp/english/

Note:

This document is a public announcement regarding the debt financing and has not been prepared as an inducement or invitation for investment.
In addition, this press release does not compose a public offering of U.S. s ecurities. Excluding the cases in which registration of securities isperformed based on the Securities Act of 1933 or when being absolved from registration, public offering or sales of securitie s cannot beperformed in the U.S. In the case of performing a public offering of securities in the U.S., an English prospectus created based on the Securities
Act of 1933 will be used. The prospectus can be obtained through the issuing corporation or owners of the securities, and det ailed informationand financial statements concerning the issuing corporation and its administration will be recorded on them.

5