The consolidated total leverage/gearing at the vehicle level as a percentage of the GAV of the vehicle.
Global Definitions Database
Loan to Value (LTV)
Child terms
Maximum LTV
The consolidated total external leverage at the vehicle level as a percentage of the GAV of the vehicle.
Depending on the accounting standar...
Property-level loan to value
Nominal value of debt excluding shareholder loans / total fair value of investment and development portfolio.
Vehicle-level loan to value
Nominal value of debt excluding shareholder loans / GAV of vehicle (including pro rata share in joint ventures).