Global Definitions Database

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

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Subordinate Debt/Loan/Mortgage

A debt financing obligation issued to a company or an individual by a bank or similar financial institution that is ranked behind that held by secured lenders in terms of the order in which the debt is repaid.

Source: NCREIF | Date: 09 September 2025 | ID: D1496 | Version: 1