Nomura Real Estate Master Fund (TYO:3462) secured new debt financing totalling 16.1 billion yen to refinance existing loans maturing on Nov. 26, according to a Tokyo bourse filing on Tuesday.
The funding includes 1.1 billion yen from Development Bank of Japan with a four-year term.
The REIT has secured another 7 billion yen loan from MUFG Bank and Sumitomo Mitsui Trust Bank that will carry a fixed rate over a seven-year and six-month term.
The remaining 8 billion yen loan will be provided by a consortium of banks, namely MUFG Bank, Sumitomo Mitsui Banking, Mizuho Bank, The Bank of Fukuoka and The Bank of Kyoto.
This loan will carry a floating interest rate for a term of seven years and six months.