Nomura Real Estate Master (JP:3462) has released an update.
Nomura Real Estate Master Fund, Inc. has decided to sell the NMF Shinjuku Minamiguchi Building, an office property, for a scheduled transfer price of ¥13,500 million, which is ¥3,362 million above its book value. The sale to Nomura Real Estate Development Co., Ltd. is part of the Fund’s strategy to replace assets and manage future risks associated with property competitiveness and rising repair costs. The Fund will also secure priority negotiation rights for any future sale of the property post-redevelopment, ensuring its strategic interest in the asset’s long-term value.
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