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Nomura Real Estate Master Fund, Inc.
The Investment Corporation began a brand new start on October 1, 2015 with the consolidation-type merger of the former Nomura Real Estate Master Fund, Inc., Nomura Real Estate Office Fund, Inc. and Nomura Real Estate Residential Fund, Inc., as the reborn Nomura Real Estate Master Fund, Inc. and was listed on the Tokyo Stock Exchange REIT market on October 2, 2015. Completion of Merger with TOP REIT Inc. on September 1,2016
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Unit Price and Trading Volume
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Unit Yield, Sector Average and Overall Average
Corporate Data
| Investment Corporation Name | Nomura Real Estate Master Fund, Inc. |
|---|---|
| Abbreviation | NMF |
| Securities code | 3462（JPX） |
| Listing date | 2015/10/02 |
| Time elapsed | 6.75 year |
| Closing months | February / August |
| ＵＲＬ | http://www.nre-mf.co.jp/ |
| Unitholders' capital | 244,997Million JPY |
| Number of investment units authorized | 4,715,200Unit |
| Investment amount per unit | 51,959JPY |
| Rating | R&I:AA- / JCR:AA |
| Type of assets under management | Office Building 43.7％ Retail Facilities(Near Stations) 10.6％ Retail Facilities(Residential Areas) 5.4％ Logistics Facilities 20.0％ Residential Facilities 19.4％ Hotels 0.6％ Others 0.4％ |
| Management target regions | Greater Tokyo：83.8％ Others：16.2％ |
| Number of investment properties | 298 |
| Number of tenants | 1329 |
| Total leasable floor space | 2,138,525.13㎡ |
Investment Index Information
| NAV per Unit | 171,994JPY |
|---|---|
| Unit Price / NAV per Unit | 0.98 |
| FFO per Unit | 3,849JPY |
| Unit Price / FFO per Unit | 44.01 |
| NOI Yield | 4.06％ |
| Implied Cap Rate | 3.16％ |
| Market capitalization | 798,755Million JPY |
| Acquisition book value | 1,081,389Million JPY |
| Term-end book value | 1,059,050Million JPY |
| Appraisal value | 1,252,960Million JPY |
| Interest-bearing liabilities | 517,756Million JPY |
| LTV | 43.60％ |
| EV / EBITDA | 29.47 |
| Average maturity of borrowings | 4.88year |
| Ratio of long-term fixed interest rate | |
| Average occupancy rate | 98.7％ |
| Average age of buildings | 20.13year |
Investment Management Policies
- The basic policy of the Investment Corporation is to pursue the securing of stable income over the medium to long term as well as the steady growth of its assets under management. Investment and management will be carried out for a diverse range of sectors that includes offices, retail facilities, logistics facilities and residential facilities, without limiting investment targets.
In addition to external growth through the acquisition of rental revenue generating real estate developed by the sponsor by utilizing the collective strengths of the Nomura Real Estate Group centered on Nomura Real Estate, one of Japan’s leading comprehensive real estate companies, it manages real estate properties by making use of their specific characteristics and aims to increase unitholder value on an ongoing basis through an expansion of assets under management and by adding to their value.
Other Related Corporations
| Asset Manager | Nomura Real Estate Asset Management Co., Ltd. | |||
|---|---|---|---|---|
| Update | 2022/04/19 | Capital | 300Million JPY | |
| Major Shareholders | 100％ | Nomura Real Estate Holdings, Inc. | Other Shareholders | |
Account Settlement InformationFY2022-2(Million JPY)
| 11th | 12th |
13th （most recent） |
14th forecast | 15th forcast | |
| Revised Date |
Revised Date |
||||
| Operating revenue | 38,064 | 37,519 | 37,520 | 38,762 | 38,243 |
| Operating income | 15,370 | 14,741 | 14,593 | 15,467 | 15,069 |
| Ordinary income | 13,048 | 12,435 | 12,380 | 13,271 | 12,889 |
| Net income | 13,016 | 12,434 | 12,377 | 13,220 | 12,888 |
| Short-term borrowings | 58,761 | 55,091 | 58,616 | ||
| Long-term borrowings | 427,081 | 430,708 | 427,140 | ||
| Investment corporation bonds | 32,000 | 32,000 | 32,000 | ||
| Total assets | 1,196,357 | 1,192,507 | 1,187,420 | ||
| Net assets | 623,014 | 1,192,507 | 616,878 | ||
| Distribution per unit | 3,330 JPY/per Unit |
3,288 JPY/per Unit |
3,244 JPY/per Unit |
3,296 JPY/per Unit |
3,289 JPY/per Unit |
Other Affiliated Companies
| Asset custodian | Sumitomo Mitsui Trust Bank, Limited | Accounting auditor | Ernst & Young ShinNihon LLC |
|---|---|---|---|
| Accounting services | Mitsubishi UFJ Trust and Banking Corporation | Unitholders registry administrator | Mitsubishi UFJ Trust and Banking Corporation |
| Tax administration services | Mitsubishi UFJ Trust and Banking Corporation | Investment corporation bond administrator | The Bank of Tokyo-Mitsubishi ＵＦＪ, Ltd . |
