Global Definitions Database

Access, learn and discover all terms related to the non-listed real estate sector.

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Highest and Best Use

The use of an asset by market participants that would maximize the value of the asset or group of assets within which the asset would be used. Highest and best use is determined based on the use of the asset by market participants, even if the intended use of the asset by the reporting entity is different.

Source: NCREIF PREA | Date: 23 March 2020 | ID: D0326 | Version: 2