Global Definitions Database
The Global Definitions Database (GDD) is 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.
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Net Initial Yield (NIY)
The passing rent or net operating income divided by the gross property value including notional acquisition costs.
Net equivalent yield
A time-weighted average of the net initial yield and reversionary yield, representing the return a property will produce based upon the timing of the ...
Reversionary yield
The estimated rental value as a percentage of gross property value.
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Net Debt Yield
Property’s net operating income as a percentage of the total principal loan amount.
Total Expense Ratio (TER)
TER represents vehicle fees and costs (including or excluding performance fees) as a percentage of time weighted average INREV NAV or INREV GAV.
Acquisition
Purchase of an interest in an asset in exchange for consideration paid.