Global Definitions Database

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

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Cascading Pledge

An alternative tiered-collateral structure employed when tax, regulatory or ERISA concerns prevent a feeder fund from guaranteeing and directly pledging collateral to the lender to support a fund borrower’s obligations under a subscription-backed credit facility.

Source: NCREIF | Date: 02 September 2025 | ID: D0975 | Version: 1