[For Translation Purposes Only]
December 19, 2017

For Immediate Release
To Whom It May Concern

Nomura Real Estate Master Fund, Inc.
Securities Code: 3462
Shuhei Yoshida, Executive Director
Asset Management Company:
Nomura Real Estate Asset Management Co., Ltd.
Norio Ambe, President & Chief Executive Officer
Inquiries:
Ken Okada
Director and Managing Executive Officer
TEL. +81-3-3365-8767 nmf3462@nomura-re.co.jp

Notice Concerning Debt Financing
Nomura Real Estate Master Fund, Inc. (“Nomura Master Fund” or the “Fund” or “NMF”) announced today that theFund will procure debt financing as stated below.

Ⅰ.Debt Financing
1.

PurposeThe Fund has decided to procure the loan in order to repay current outstanding loans which mature on December 26,2017.

2.

Details of Debt Financing
Loan Type：Term Loan (Scheduled contract date: December 22, 2017)
Lenders
The Hyakujushi Bank, Ltd.

Amount(millions ofyen)

500

Interest Rate
Fixed(To be determined)(Note2) (Note3)

The Bank ofTokyo-Mitsubishi UFJ, Ltd.

1,100

The Bank ofTokyo-Mitsubishi UFJ, Ltd.
Sumitomo Mitsui Banking
Corporation

4,000

Mitsubishi UFJ Trust and Banking
Corporation
Sumitomo Mitsui Trust Bank,
Limited2,300

The Bank ofTokyo-Mitsubishi UFJ, Ltd.
Sumitomo Mitsui BankingCorporation

5,000

Fixed
(To be determined)(Note2) (Note4)

Fixed(To be determined)(Note2) (Note4)

Fixed(To be determined)(Note2) (Note3)

Fixed(To be determined)(Note2) (Note4)－ 1 －Drawdown
Date

Term

Repayment
Date(Note 1)

Terms of
Repayment

Collateral

6 years
Novemberand 1126,2024
months8 years
Mayand 526,2026
months8 years
November Lump-sum
and 1126,2026
repayment
December months
Unsecured,on the26, 2017unguaranteed
repayment
9 years
dateMayand 526,2027
months9 years
Novemberand 1126, 2027
months(Note 1) Repayment Date is the following business day if the date is a non-business day, or the prior business day if the following businessdate is in the next month.
(Note 2) The interest rate will be determined on or before the anticipated borrowing date based on the contract dated December 22, 2017
concerning this borrowing. We will make an announcement about the interest when it is determined.
(Note 3) The interest payment dates are the 26th of every May and November, beginning May 26, 2018, until the Repayment Date, as wellas the Repayment Date. If any of these days is a non-business day, the interest payment date will be the following business day, orthe prior business day if the following business day is in the next month.
(Note 4) The interest payment dates are the 26th of every February, May, August and November, beginning February 26, 2018, until theRepayment Date, as well as the Repayment Date. If any of these days is a non-business day, the interest payment date will be thefollowing business day, or the prior business day if the following business day is in the next month.

3.

Use of Funds(1) Specifics:

To be used to repay current outstanding loan based on term loan agreements(Note)of 12,900 million that will mature on December 26, 2017.

(2) Scheduled Date of Use:

December 26, 2017

(Note) For details of the term loan agreement, please refer to the press releases “Notice Concerning Debt Financing” the Nomura Real
Estate Office Fund on June 21, 2012.

Ⅱ. Status of Interest Bearing Debts after Financing(millions of yen)

Before Financing

After Financing

Short-term Borrowings

Increased/Decreased Amount00－

Current portion of Long-termborrowings (Note 1)

50,73937,839－12,900

Long-term borrowings(Note 2)

415,480

428,380＋12,900

466,219466,219－00－

20,50020,500－Total Investment Corporation Bonds

20,50020,500－Total Interest-Bearing Debts

486,719486,719－

Total Borrowings
Current portion of Investment
Corporation Bonds(Note 1)
Investment CorporationBonds(Note 3)(Note 1) Nature of term is as of the end of the 4th fiscal period (August 31, 2017).
(Note 2) Excludes Long-term Borrowings due within one year.
(Note 3) Excludes Investment Corporation Bond due within one year.

Ⅲ.Forecasts of Financial Results
The effects on the fund management forecast for February 2018 period (September 1, 2017 – February 28, 2018) by theborrowing are minor and there is no change in the future fund management.

Ⅳ.OtherNo change has been made to the content of “Section 1 Fund Information / 1 Status of Fund / 3 Investment Risks” ofthe Securities Report (in Japanese) filed on November 29, 2017, regarding the risk involved in the debt financing.
*<Nomura Real Estate Master Fund, Inc.> URL: http://www.nre-mf.co.jp/en/－ 2 －