Nomura Real Estate Master Fund, Inc. announced the interest rate of the following loan announced in Notice Concerning Debt Financing on March 2, 2020 (the "Debt Financing"), has been determined. Details are as follows. Lenders: The 77 Bank Ltd. Amount: ¥500 million - Interest Rate: Fixed: 0.10094% - Drawdown Date: March 11, 2020 - Term: 7 years - Repayment Date: February 26, 2027 - Terms of Repayment: Lump-sum repayment on the repayment date - Collateral: Unsecured, unguaranteed. Lenders: Mizuho Trust & Banking Co. Ltd. Amount: ¥1,000 million - Interest Rate: Fixed: 0.17813%- Drawdown Date: March 11, 2020 - Term: 8 years - Repayment Date: February 26, 2028 - Terms of Repayment: Lump-sum repayment on the repayment date - Collateral: Unsecured, unguaranteed. Lender: Mizuho Bank Ltd. Amount: ¥500 million - Interest Rate: Fixed: 0.26451% - Drawdown Date: March 11, 2020 - Term: 9 years 3 months - Repayment Date: February 26, 2029 - Terms of Repayment: Lump-sum repayment on the repayment date - Collateral: Unsecured, unguaranteed and Lender: THE YAMAGUCHI BANK Ltd. Amount: ¥500 million - Interest Rate: Fixed: 0.34054% - Drawdown Date: March 11, 2020 - Term: 10 years - Repayment Date: February 26, 2030 - Terms of Repayment: Lump-sum repayment on the repayment date - Collateral: Unsecured, unguaranteed.