[For Translation Purposes Only]
September 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 September
26, 2017.

2.

Details of Debt Financing
Loan Type：Term Loan (Scheduled contract date: September 22, 2017)
Lenders

Amount(millions ofyen)

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

3,000

THE BANK OFFUKUOKA, LTD.

1,000

Interest Rate

Basic Interest Rate
+0.17%

Drawdown
Date

Term

RepaymentDate(Note 1)

Terms ofRepayment

CollateralSeptember
26,2020 Lump-sum(Note 2) (Note 3) (Note 4)
repayment
September
Unsecured,on the26, 2017
unguaranteed
repayment
8 years
Fixed
dateNovemberand 2(To be determined)
26,2025(Note5) (Note6)
months3 years(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 beJBA 1month 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
the Basic Interest Rate that applies to the concerned period. Refer to the JBA TIBOR Administration website regarding thechanges in the respective JBA Japanese Yen TIBOR, the base interest rate
(Note 4) The interest payment dates are the 26th of every month beginning October 26, 2017, until the Repayment Date, as well as theRepayment Date. If any of these days is a non-business day, the interest repayment date will be the following business day, or theprior business day if the following business day is in the next month.
(Note 5) The interest rate will be determined on or before the anticipated borrowing date based on the contract dated September 22, 2017

－ 1 －concerning this borrowing. We will make an announcement about the interest when it is determined.
(Note 6) The interest payment dates are the 26th of every May and November, beginning November 26, 2017, until the Repayment Date,as well as the Repayment Date. If any of these days is a non-business day, the interest repayment date will be the following
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 4,000 million that will mature on September 26, 2017.

(2) Scheduled Date of Use:

September 26, 2017

(Note) For details of the term loan agreement, please refer to the press releases “Notice Concerning Debt Financing” the former Nomura
Real Estate Master Fund on September 24, 2015.

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

Before Financing
Short-term Borrowings

After Financing

Increased/Decreased Amount00－Current portion of Long-termborrowings (Note 1)

24,862

20,862－4,000Long-term borrowings(Note 2)

441,378445,378＋4,000466,241466,241－

4,0004,000－

18,50018,500－Total Investment Corporation Bonds

22,50022,500－Total Interest-Bearing Debts

488,741

488,741－

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 3rd fiscal period (February 28, 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 of the borrowings on the entire portfolio will be accounted for in the forecasts of financial results for theperiod ending February 28, 2018. This announcement is planned for October 13, 2017, in tandem with the disclosure ofresults for the period ending August 31, 2017.

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 May 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 －