Nomura Real Estate Office Fund, Inc. (NOF)(URL: http://www.nre-of.co.jp/english/) (TOKYO:8959) , a Japanese office building real estate investment trust (J-REIT), announced today that it has determined the acquisition of real estate, as stated below.
1. PMO Nihonbashi Honcho
Summary of the Acquisition
(1) Type of asset: Real Estate
(2) Property name: PMO Nihonbashi Honcho
(3) Acquisition price: JPY5,000 million
(4) Scheduled date of agreement: Nov. 5, 2008 (date of agreement on purchase and sale of the real estate)
(5) Scheduled date of acquisition: Nov. 5, 2008 (date of delivery of the real estate)
(6) Seller: Nomura Real Estate Development, Co., Ltd.
(7) Financing: Private fund and debt financing
Property Summary
| Property Name | PMO Nihonbashi Honcho | |||||
| Location | 4-8-9 Nihonbashi Honcho, Chuo-ku, Tokyo | |||||
| Access | 3 minute walk from Shin-Nihombashi Station on the JR Line 7 minute walk from Kanda Station on the JR Line and the Tokyo Metro Ginza Line 4 minute walk from Kodemmacho Station on the Tokyo Metro Hibiya Line | |||||
| Completion Date | June 17, 2008 | |||||
| Use | Office and parking | |||||
| Structure | S/SRC, B1/9F | |||||
| Area | Land | 506.16 m2 (153.11 tsubo) | ||||
| Building | 3,507.37 m2 (1,060.97 tsubo) | |||||
| Acquisition Price | JPY5,000 million | |||||
Appraisal Value and Method | JPY5,000 million (Based on the capitalization approach as of September 30, 2008) (Appraiser: Japan Real Estate Institute) | |||||
| Estimated NOI | JPY225 million | |||||
| Leasing Status (As of November 5, 2008 (scheduled)) | ||||||
| Total number of Tenants | 1 (5) *including end tenants | |||||
| Occupancy Rates in the Past |
March 31, |
March 31, |
March 31, |
March 31, |
March 31, | |
| - | - | - | - | - | ||
| Total Asset | JPY372,548 million *including two Properties scheduled to be acquired on Nov. 5, 2008 | |||||
2. Nomura Sapporo Building
Summary of the Acquisition
(1) Type of asset: Real Estate
(2) Property name: Nomura Sapporo Building
(3) Acquisition price: JPY5,300 million
(4) Scheduled date of agreement: Nov. 5, 2008 (date of agreement on purchase and sale of the real estate)
(5) Scheduled date of acquisition: Nov. 5, 2008 (date of delivery of the real estate)
(6) Seller: Nomura Real Estate Development, Co., Ltd.
(7) Financing: Private fund and debt financing
Property Summary
| Property Name | Nomura Sapporo Building | |||||
| Location | 2-15-1, Kitashichijyo-Nishi, Kita-Ku, Sapporo City, Hokkaido | |||||
| Access |
2 minute walk from Sapporo Station on the JR Line
2 minute walk from Sapporo Station on the Subway Namboku Line and the Subway Toho Line | |||||
| Completion Date | July 11, 2008 | |||||
| Use | Office and retail | |||||
| Structure | S, B1/10F | |||||
| Area | Land | 1,275.68 m2 (385.89 tsubo) | ||||
| Building | 9,603.81 m2 (2,905.15 tsubo) | |||||
| Acquisition Price | JPY5,300 million | |||||
| Appraisal Value and Method | JPY5,300 million (Based on the capitalization approach as of September 30, 2008) (Appraiser: Japan Real Estate Institute) | |||||
| Estimated NOI | JPY306 million | |||||
| Leasing Status (As of October 22, 2008) | ||||||
| Total number of Tenants | 5 | |||||
| Occupancy Rates in the Past |
March 31, |
March 31, |
March 31, |
March 31, |
March 31, | |
| - | - | - | - | - | ||
| Total Asset | JPY372,548 million *including two Properties scheduled to be acquired on Nov. 5, 2008 | |||||
Please refer to the original news release for the complete information.
http://www.nre-of.co.jp/english/site/file/tmp-RtBv4.pdf
< About NOF > URL: http://www.nre-of.co.jp/english/
NOMURA OFFICE FUND, INC.(NOF) is listed on the Tokyo Stock Exchange(J-REIT) with the securities code number 8959, managed by Nomura Real Estate Asset Management Co., Ltd. (NREAM) within the Nomura Real Estate Group. The NOF Portfolio consists of office buildings located in the three major metropolitan areas and government-designated cities, etc.
Executive Director: Mitsuharu Sato
*Asset Management Company (AM Company): Nomura Real Estate Asset Management Co., Ltd.
*President and Chief Executive Officer of the AM Company: Tatsuo Inoue
Contacts:
Atsushi
Ogata+81-3-3365-0507
Director
Office Management Division
