Nomura Real Estate Development Co., Ltd. agreed to acquire NRE Ueno Building from Nomura Real Estate Master Fund, Inc. (TSE:3462) for ¥6.93 billion on January 23, 2024. NRE Ueno Building has rental income of ¥254 million. Nomura Real Estate Master Fund plans to use the cash obtained through the sale of the Property for portfolio management, including the repayment of borrowings and the acquisition of properties.

The Conclusion of a sale agreement for the disposition of NRE Ueno Building will be on January 26, 2024 and the transaction is expected to complete on April 1, 2024.