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Nomura Real Estate Master Fund to sell logistic asset for ¥5.48B

Nomura Real Estate Master Fund Inc. will divest Funabashi Logistics Center in Chiba, Japan, to an unnamed buyer for about ¥5.48 billion.

The property has a floor area of about 30,421.70 square meters and is fully occupied.

The company intends to use the funds obtained from the sale, expected to complete Jan. 19, 2018, to repay borrowings, for portfolio management and property acquisitions.

As of Dec. 11, US$1 was equivalent to ¥113.37.