TOKYO, Mar 17 (Pulse News Wire) – Nomura Real Estate Master Fund,inc. (3462.T) announced plans to sell its Hiroshima building to an undisclosed domestic company.
The sale is set to close on March 26, 2026, following a contract signing on March 19, 2026. The building, which has been operational since July 31, 1976, is currently facing challenges due to high anticipated maintenance costs and declining occupancy rates post-major tenant departure in autumn 2025. The asset's age and recent performance led to the decision to divest it as part of a broader strategy to ensure stable long-term returns and portfolio growth.
Key details of the transaction include a transfer price of 4,800 million yen, compared to an estimated book value of 2,589 million yen. The property, located near the Hiroden Railway station, spans 11,950.37 square meters and includes office, retail, garage, warehouse, and mechanical room facilities. Following the completion of this sale, the funds generated will be used to bolster existing cash reserves, aligning with previous acquisitions made within the same timeframe.
The impact on the company’s financial results for the fiscal year ending February 2026 will be disclosed in the interim earnings release scheduled for March 30, 2026.
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