TOKYO, Mar 17 (Pulse News Wire) – Nomura Real Estate Master Fund,inc. (3462.T) announced plans to sell its office tower Z located in Shiodome Island Triton Square for ¥558 million.
The sale is scheduled to close on March 30, following a contract signing on March 18. The property, which was acquired in 2026, faces potential future maintenance costs due to its age and limited revenue improvement prospects as a condominium-style building. The fund expects to allocate proceeds from the sale to enhance liquidity, utilizing funds generated from previous acquisitions made earlier in the year.
The transaction includes a comprehensive evaluation based on a real estate appraisal conducted by Yamada Real Estate Appraisal Co., Ltd. as of August 31, 2025, indicating a net operating income (NOI) of ¥552 million annually. The property's occupancy rate stood at 92% as of February 2025, with four tenants occupying approximately 9,830 square meters out of a total leasable area of 10,914 square meters.
The impact of this divestiture on the fiscal year ending February 2026 will be disclosed along with the earnings forecast for the subsequent half-year ending August 2026, scheduled for release on April 17, 2026.
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