[For Translation Purposes Only]
March 21, 2017

Nomura Real Estate Master Fund, Inc.
Securities Code: 3462
Satoshi Yanagita, 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 todaythat the Fund will procure debt financing as stated below.
Ⅰ.Debt Financing
1. Purpose
The Fund has decided to procure the debt financing in order to pay for the acquisition of assets.
2.

Details of Debt Financing

Loan Type：Commitment Line Agreement, contracted on June 8, 2016.
Lenders

Amount(millions of yen)

The Bank of Tokyo-Mitsubishi UFJ,
Ltd.
Sumitomo Mitsui Banking
Corporation
Mizuho Bank, Ltd.
18,000Mitsubishi UFJ Trust and Banking
Corporation
Sumitomo Mitsui Trust Bank,
LimitedInterest Rate

Drawdown
Date

Basic Interest Rate
+0.45％(Note 2) (Note3)(Note4)

March30, 2017

Term

RepaymentDate(Note 1)

Terms ofRepayment

1 yearMarch 30,2018

Lump-sum
repayment on Unsecured,
the repayment unguaranteed
dateCollateral(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) Basic Interest Rate, which applies to the calculation period of the interest rate to be paid on the Interest Payment Date, will be JBA
1 month JPY TIBOR as of two business days before the previous Interest Payment Date of the respective interest payment dates(however, the Drawdown Date for the first interest rate calculation period) announced by the JBA TIBOR Administration.
(Note 3) Basic Interest Rate indicated in (Note 2) will be reviewed on each Interest Payment Date. However, in the case the rate that applies
to the calculation period of the interest rate does not exist, what is calculated based on the method stated in the contract will be theBasic Interest Rate that applies to the concerned period. Refer to the JBA TIBOR Administration website regarding the changes in
the respective JBA Japanese Yen TIBOR, the base interest rate.
(Note 4) April 26, 2017, the first interest payment date, and 26th of the every month until the Repayment Date. (or the following business
day if the date is a non-business day, or the prior business day if the following business date is in the next month)－ 1 －3. Use of Funds(1) Specifics:

Loan proceeds will be used in order to pay for the acquisition of assets(PRIME URBAN Gakugei Daigaku Parkfront, Nakaza Cui-daore Building,
NRE Kichijoji Building(additional acquisition), Landport Kashiwa Shonan I)(Note)(2) Scheduled Date of Use :March 31, 2017

(Note) For a profile of the property, refer to the “Notice Concerning Property Acquisition”, released on January 27, 2017, “Notice Concerning PropertyAcquisition”, released on February 21, 2017, “Notice Concerning Property Acquisition and Disposition”, released on March 21, 2017.

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

Before Financing(Note 1)

Increased/Decreased
AmountAfter Financing(Note 1)

Short-term Borrowings

18,70036,700+18,000

Current portion ofLong-term borrowings (Note 2)

40,112

40,112－Long-term borrowings(Note 3)

426,171426,171－484,984

502,984+18,000－－－

22,50022,500－22,50022,500－507,484

525,484+18,000

Total Borrowings
Current portion ofInvestment Corporation
Bonds(Note 2)
Investment Corporation
Bonds(Note 4)
Total Investment Corporation
Bonds
Total Interest-Bearing Debts(Note 1) Both columns indicate figures assuming that financing(¥1,000 million in total) and repayments of the existing borrowings (¥1,000 million intotal) scheduled for March 27, 2017. For details of the financing, please refer to the press releases “Notice Concerning Debt Financing” onMarch 14, 2017
(Note 2) Nature of term is as of the end of the 2nd fiscal period (August 31, 2016).
(Note 3) Excludes Long-term Borrowings due within one year.
(Note 4) Excludes Investment Corporation Bond due within one year.

Ⅲ.Forecasts of Financial Results
The effects of the borrowings on the entire portfolio will be accounted for in the forecasts of financial results forthe period ending August 31, 2017. This announcement is planned for April 14, 2017, in tandem with the disclosureof results for the period ending February 28, 2017.
Ⅳ.Other Matters Required for Investors to Accurately Understand and Evaluate the Information
No change has been made to the content of “Section 1 Fund Information / 1 Status of Fund / 3 Investment
Risks” of the Securities Report (in Japanese) filed on November 28, 2016, regarding the risk involved in the debt
financing.
*<Nomura Real Estate Master Fund, Inc> URL: http://www.nre-mf.co.jp/en/－ 2 －