Global Definitions Database
The leading global source of definitions for the non-listed real estate sector.
Global definitions are an important step towards producing global standards and aligning the INREV Guidelines with the NCREIF PREA Reporting Standards. The GDD provides a common glossary of non-listed real estate terms. Many terms have been agreed to globally, while others are specific to Asian, European and North American standards, guidelines and data products. This has been indicated in the source.
A common set of terms is a critical component of the global standardisation initiative and our interactive online tool makes them easily accessible. This provides the industry with one unique depository of definitions that will help increase transparency and align the industry globally.
Most viewed definitions
Net Initial Yield (NIY)
The passing rent or net operating income divided by the gross property value including notional acquisition costs. View full definition
Estimated Rental Value (ERV)
The current rent at which space within a property could reasonably be expected to be let given current market conditions. View full definition
Attachment Point LTV
The LTV point at which the Senior loan ends and Junior loan starts, for example 55% LTV would typically be the detachment poi... View full definition
Assets under Management (AUM)
Assets under Management (AUM) refers to the market value of real estate as well as non-real estate related assets (including... View full definition
Reversionary yield
The estimated rental value as a percentage of gross property value. View full definition
Interest Payment Date (IPD)
Dates on which lenders receive interest payment on the debt instrument they hold. Interest payment dates are usually set at t... View full definition
Recently added definitions
Outstanding Redemption Requests
The total value of investor redemption request that remain unfulfilled, including cancelled redemptions, as of the reporting... View full definition
Current Capital Closing Period
As defined in the Vehicle Documentation, it is the current period during with the Vehcile remains open to new Subsription Agr... View full definition
Gross Asset Value of Vehicle (GAV)
Total assets as per the Vehicle's financial statetment under the chosen GAAP before INREV adjustments, if applicable. Note:... View full definition
Net Asset Value of Vehicle (NAV)
A vehicle’s assets less all liabilities as per the Vehicle Documentation, under the chosen GAAP. View full definition
Inception date
The date on which the vehicle first undertook operating, financing, or investing activity as defined in the Vehicle Documenta... View full definition
Term
The length of time, usually years, that an investment Vehicle (such as a fund), or loan is expected to exist, prior to any ex... View full definition
Questions?
Contact INREV for more information about the Global Definitions Database.
Constantin Sorlescu
Director of Professional Standards