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NCREIF PREA Reporting Standards
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Impact Investing
Debt Related Terms and Vehicles
ESG / Sustainability
Fees and Expenses
Reporting and Performance
Asset Management
Vehicle Terms and Structuring
Regulatory
Key Term
Institutions / Standards
Alphabetical
Latest added
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A
A-Note (Senior Debt/Loan)
Absolute energy
Absolute Return Attribution
Absorption or Absorption Rate
Account Pledgor
Accounting Standards Codification (ASC) 820
Accounting Standards Update (ASU)
Accounts
Accredited Investor
Acquisition
Acquisition Fee
Acquisition-Date Cohort
Activity and Use Limitation (AUL)
ADC Arrangements
Additional Contingent Interest
Additionality
Adjustable-Rate Debt/Loan/Mortgage (ARM)
Adjusted Basis
Advisory Board or Committee
Affiliate Agreement
Affordable Housing
After-Tax Cash Flow
After-Tax Internal Rate of Return (ATIRR)
Alignment of Interest
All Appropriate Inquiries
All-in Interest Rate
Allocated Loan Amount
Allocation (in Attribution)
Allocation by Abstraction
Allocation by Ratio
Allocation Method
Allocation Policy
Allowances
Alpha (α)
Alternative Investment Fund (AIF)
Alternative Investment Fund Manager (AIFM)
Alternative Investment Risk
Alternative Investment Vehicle (AIV)
Alternative Lender
Amenities
American Institute of Certified Public Accountants (AICPA)
Amortization Period
Amortizing/Amortization
Anchor Tenant
ANREV
Anti-Dilution Clause/Covenant/Provision
Appraisal
Appraisal Institute
Appreciation
Arbitrage
Arbitration
ARGUS
Arithmetic Mean
Arm’s Length Transaction
Arrears
As-Is Condition
As-Is Value
Asking Rent
Assemblage
Assessed Value
Assessor
Asset Allocation
Asset Backed Security
Asset Class
Asset Liability Matching (ALM)
Asset Management Company
Asset management fee
Asset Manager
Asset Originator
Asset weighted
Asset weighting methodology
Asset-backed securities (ABS)
Asset-weighted composites
Assets under Management (AUM)
Assignment / Transfer clauses
Attachment Point LTV
Attribution Analysis
Audit costs
Authorised Management Company
Average
B
B Note (Junior Debt/Loan)
Bad Boy Acts/Carve-Out
Bank / loan / overdraft / debt interest
Bank Charges
Base Interest
Base Rent Income
Before-Tax Cash Flow (BTCF)
Before-Tax Internal Rate of Return (BTIRR)
Benchmark
Benchmark Cohort
Benchmarking
Beta (β)
Bitesize
Blind Pool
Block Group-Based Trade Area
Block Groups (BGs)
Blocker or Blocker Corporation
Borrower
Borrower sustainability credentials
Borrower sustainability scorecard
Borrowing Base
Bottom-Up Investing
Boundaries
Branch Profits Tax
Break Costs
Bridge Loan
Brinson-Fachler (BF) Attribution Analysis
Brinson-Hood-Beebower (BHB) Attribution Analysis
Broker-Dealer
Brownfield
Build-Out
Build-to-Suit
Building energy intensity
Building GHG intensity
Building Lines
Building Owners and Managers Association (BOMA)
Building Standard Plus Allowance
Building types
Building water intensity
Bullet Repayment
Business Enterprise
Business Enterprise Value
Business Risk
Business Value
C
Calibration
Capital Allocator
Capital Asset Pricing Model (CAPM)
Capital call
Capital call notice
Capital commitment
Capital contribution
Capital distribution
Capital expenditure (Capex) Facility
Capital expenditures (CAPEX)
Capital Gain
Capital Market Line (CML)
Capital Market Risk
Capital Markets
Capital Structure
Capitalization
Capitalization (Cap) Rate
Capitalization-Weighted Index (CWI)
Caps (Interest)
Capture Rate
Carbon Disclosure Project
Carbon trading
Carried interest
Carve-outs (lending)
Cascading Pledge
Cash Flow Before Tax (CFBT)
Cash management fee third party
Cash Sweep
Catch-up
Census Tracts
Certificate of Occupancy (CO)
CFA Institute
Chain Linking Returns
Class A
Class B
Class C
Claw back
Climate Risk
Closed End Vehicle
Club Deal
Co-Investment
Co-Investment Program
Collateral
Collateral Account/Package
Collateralized Mortgage Obligation (CMO)
Collection Loss
Commercial
Commercial mortgage-backed securities (CMBS)
Commingled Fund
Commitment
Commitment fees
Commitment period
Common Area
Common Area Maintenance (CAM) Charges
Common parts
Community Center
Community Development
Comparables (Comps) or Comparable Sales
Compensation Prepayment Proceeds
Compliance
Composite
Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) or Superfund
Concessions
Condemnation
Conditions Precedent
Conditions Subsequent
Conduit
Consent Rights
Constitutional Documents
Construction Completion Guarantee/Guaranty
Construction Loan
Construction Risk
Consumer Behavior
Consumer Price Index (CPI)
Consumption Per Household
Contiguous Space
Contingent Interest
Contingent liabilities
Contingent Rent
Continuous Operations Clause
Contract Rent
Contractual Interest
Contractual Principal
Contributory Value
Controlled Commercial Entity (of Section 892)
Controlling Equity Interest
Convertible Debt
Convertible Debt/Loan/Mortgage
Convertible Preferred Stock
Core (INREV Style)
Core (RS Style)
Core Plus
Core-Based Statistical Area (CBSA)
Corporate Blocker
Corporate Governance
Corporate Housing
Correlation
Correlation Coefficient ( )
Cost Approach (valuation technique)
Cost Index
Cost of development portfolio
Costs of Sale
Counter Party Risk
Country Risk
Covariance
Covenant
Credit Committee
Credit Default Swap (CDS)
Credit enhancements
Credit Facility
Credit Rating
Credit Risk
Credit Tenant
Cross Collateralization
Cross-Over Demand
Cumulative TWR returns
Cure Period
Cure Rights
Currency exposure
Currency Risk
Current development exposure as percentage of Gross Asset Value (GAV)
Current Expected Credit Losses (CECL)
Current Occupancy
Custodian costs
Customer Spotting Technique
D
Dark Space
Dead deal costs
Deadlock Provision
Deal-by-Deal Carry (Waterfall)
Debenture
Debt arrangement costs
Debt arrangement fee
Debt Fund
Debt Interest
Debt Service Coverage Ratio - DSCR (INREV)
Debt Service Coverage Ratio - DSCR (RS)
Debt Vehicle
Debt Yield
Default Covenant
Defaulting Investor
Deferred Maintenance
Deferred taxes
Defined Benefit Pension Plan
Defined Contribution Pension Plan
Delinquency Rate
Delivered
Demand Driver
Denominator
Dependent Variable
Deposit Account
Derivative Security
Design/Amenity Attributes
Developer Profit
Development
Development Facility
Development fee
Development Margin
Dilution
Direct Alpha
Direct Investment
Discount margin
Discount Rate
Discounted Cash Flow (DCF)
Discretion
Discretion or Discretionary Account
Disposals Account
Disposition
Disposition Fee
Distressed Asset
Distribution fee
Distribution Waterfall
Distribution-dividend yield
Distributions
Distributions to paid-in capital (DPI) multiple
District heating and cooling
Diversifiable Risk
Diversity, Equity and Inclusion (DEI)
Dividend Equivalent Amount
Dividend Payment
Dollar-Weighted Rate of Return
DOWNREIT
Drag-Along Rights
Drawdown
Drive Time-Based Trade Area
Dry Powder
Due Diligence Questionnaire (DDQ)
Due-on-Sale Clause
Due-on-Transfer Clause
Duty of Care Agreement
E
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
Easement
Economic Development
Economic Feasibility
Economic Life
Economic Obsolescence
Economic Ownership
Economic Regime
Economic Share
Effective Age
Effective Buying Income (EBI)
Effective Gross Income (EGI)
Effective Ownership Share
Effective Practical Control (of Section 892)
Effective Rent
Effective Share
Effective Tax Rate
Effective Yield
Effectively Connected Earnings and Profits
Effectively Connected Income (ECI)
Efficiency Ratio
Efficient Frontier
Egress
Elasticity
Emerging Issues Task Force (EITF)
Emerging Manager
Employee Retirement Income Security Act of 1974 (ERISA)
Encumbrance
End of Investment Period
End of maximum extendable vehicle term
Endowment
Enterprise Zone
Entitlement
Entitlement Risk
Entity Investing
Environment, Social and Governance (ESG)
Environmental Assessment
Environmental Indemnity Agreement
Environmental Protection Agency (EPA)
Environmental Risk
Environmental, Social and Governance (ESG) Criteria
Equal-Weighted Index
Equilibrium
Equilibrium Vacancy
Equity Capitalization (Cap) Rate
Equity Method
Equity multiple (Gross)
Equity multiple (Net)
Equity multiple- gross, projected
Equity multiple-net, projected
Equity Yield or Equity Yield Rate
Equity-share
ERISA
ERISA Fund
ERISA Limited Partner
Escheat
Estimated Rental Value (ERV)
Euro Interbank Offered Rate (EURIBOR)
Event of Default (EOD)
Event Risk
Excess Return
Exchange Rate Risk
Excluded Recovery Proceeds
Exclusion Clause/Provision
Exclusivity Right
Execution Risk
Exempt fees and costs
Exit Capitalization (Cap) Rate
Exit LTV
Expansion
Expense Policy
Expense Ratio
Expense Reimbursements
Expense Stop
Extension
External leasing commissions
Externality
F
Facade
Face Rent
Facility Agent
Fair Value
Fair Value (GIPS, Appraisal Institute)
Fair value (IFRS definition)
Fair Value Accounting Policy Manual
Fair Value Generally Accepted Accounting Principles (FV GAAP)
Fair Value Net Asset Value (FV NAV)
Fair value of investment portfolio
Fair value of vehicle according to INREV guidelines
Fair Value Option
Fashion / Specialty Center
Fee Drag
Fee Leakage
Fee Loss (in Dollars)
Fee Loss (in Percent)
Fee reductions/rebates
Fee Sharing (in Dollars)
Fee Simple Value
Fee Spread (in Percent)
Fee waivers
Feed-in-Tariffs
Feeder Vehicle
Fiduciary
Fiduciary Self-Dealing Transactions
Final closing
Finance, Insurance, and Real Estate (FIRE)
Financial Accounting Standards Board (FASB)
Financial control
Financial Covenants
Financial Inclusion
Financial Industry Regulatory Authority (FINRA)
Financial Institutions Reform, Recovery and Enforcement Act (FIRREA)
Financial Risk
Financing Company
Financing fee
First Generation Space
First Loss (Equity) Position
First Ranking Mortgage
First-Close Investor
First-Time Fund
Fixed and floating charges over assets
Fixed Cost or Expense
Fixed or Determinable Annual or Periodical Income (FDAP)
Fixed Rate Debt
Fixed Rate Recourse Debt
Fixture
Flat Fee
Flex Space (industrial)
Flexibility for alternative use
Floating Rate Debt
Floor area
Floor Area Ratio (FAR)
Follow-On Investment
Force Majeure
Foreign Corrupt Practices Act (FCPA)
Foreign exchange difference
Foreign Investment in Real Property Tax Act of 1980 (FIRPTA)
Forward Commitment
Foundation
Foundational Standards
Four Quadrants
Fractions Rule
Free Rent
Frictional Vacancy
Frontage
Fugitive emissions
Full Recourse Guarantee
Full Service Lease
Full Service Rent
Full-Pool Carry (Waterfall)
Functional Obsolescence
Fund
Fund /Account(s)
Fund Expenses
Fund management fee
Fund Manager
Funds of funds
Future Proposed Space
G
Garden-type Apartments
General Consultant or Consulting Firm
General Partner (GP)
Generally Accepted Accounting Principles (GAAP)
Geo-Fence
Geographic Core
Geographic Information System(s) (GIS)
Geometric Mean
Geometrically linked TWR
Giveback Provision
Glide Path
Global Endowment Management Implied Private Premium® (GEM IPP)
Global Financial Crisis (GFC)
Global Investment Performance Standards (GIPS®)
Going-Concern Value
Going-In Capitalization (Cap) Rate
Governmental Accounting Standards Board (GASB)
Graduated Lease
Gravity or Gravitational Models
Great Depression, The
Great Recession, The
Greenfield
Greenhouse gas (GHG) emissions
Gross asset value of vehicle (Including pro rata share in joint ventures)
Gross Assets (for fund leverage measures)
Gross Building Area
Gross Domestic Product (GDP)
Gross equity multiple of vehicle realized
Gross Floor Area (GFA)
Gross Income Multiplier (GIM)
Gross initial yield
Gross Leasable Area (GLA)
Gross Lease
Gross National Product (GNP)
Gross Negligence
Gross operating income
Gross property return
Gross property value
Gross Rent Multiplier (GRM)
Gross return
Gross Sales Area (GSA)
Gross Sales Price
Ground Lease
Ground Rent
Guarantee
Guarantor
H
Haircut
Heat Map
Hedged %
Hedging Arrangement/Agreement
hedging instruments
High Quality Liquid Assets (HQLA)
High-rise Elevator Apartments
High-Yield Investment
Highest and Best Use
Historical Interest Cover Ratio (Historical ICR)
Hold Period
Hold-Over Tenant
Holding Company
Holding Period
Homogenous or Homogeneous
Household
Household Population
Huff’s Law of Shopper Attraction
Hurdle Rate
HVAC
I
Idiosyncratic Risk
Impact Investing
Impact investing metrics
Impact Measurement & Management
Implemented Consulting
Incentive Fee
Inception date
Inception date (Fund)
Inception-Date Cohort
Income Approach (valuation technique)
Income distribution
Income return
Indemnity
Independent Variable
Indexed Rent
Industrial Revenue Bonds
Inflation Hedge
Inflation Risk
Information Covenants
Information Ratio
Informational Efficiency
Initial Closing
Initial Leasing
Initial Yield
INREV
INREV Guidelines
Insurance Prepayment Proceeds
Intangible Personal Property
Intentionality
Interaction (in Attribution)
Intercreditor Agreement
Interest Payment Date (IPD)
Interest Period
Interest Rate
Interest rate hedging ratio
Interest Rate Risk
Interest Rate Swaps
Interest reserve account
Interim Close
Intermediary
Internal leasing commissions
Internal Rate of Return - IRR (INREV)
Internal Rate of Return - IRR (RS)
Internal Rate of Return (IRR) Breakpoint Analysis
Internal Rate of Return-gross
Internal Rate of Return-net
Internal Rate of Return-original and projected
Internal Rate of Return-realized (Gross) vehicle
Internal Rate of Return-since inception gross of fees
Internal Rate of Return-since inception net
Internal Rate of Return-starting from inception to end-projected-gross
Internal Rate of Return-starting from inception to end-projected-net
Internal Ratings-Based Approach (IRB)
Internal valuation
International Council of Shopping Centers (ICSC)
International Financial Reporting Standards (IFRS)
International Valuation Standards Council (IVSC)
Inventory
Invested Capital
Investee
Investment
Investment Advisers Act of 1940 (Investment Advisers Act)
Investment Advisor
Investment Company
Investment Company Act of 1940
Investment Grade Security
Investment Guidelines
Investment Guidelines or Limitations
Investment level
Investment Level Return
Investment Management Agreement
Investment Management Company
Investment Manager
Investment margin (Spread)
Investment multiple
Investment Period
Investment Policy
Investment Risk
Investment Value
Investor Letter
Investor Opinion
J
J Curve
Japanese Real Estate Investment Trust (J REIT)
Jensen’s Alpha
Job creation
Joint Venture
Junior Debt
Junior Debt/Loan/Mortgage
K
Key person clause
Kick-Out Clause/Provision
Know Your Customer (KYC)
L
Lag Vacancy
Land Ratio Method
Landscaping
Lead Manager
Lease
Lease Agreement
Lease Area
Lease Commencement Date
Lease Expiration Exposure Schedule
Lease Terms
Leased Fee Estate
Leasehold Value
Leasing Fee
Legal fees (Not property specific)
Legislative Risk
Lendee
Lender
Lessee
Lessor
Letter of credit (LOC)
Leverage
Leverage Limits
Leverage Percentage
Leverage Ratio
Liability Driven Investment (LDI)
Life Insurance Separate Account
Lifecycle
Limited Liability Company
Limited Liability Company (LLC)
Limited Liability Partnership (LLP)
Limited Partner
Limited Partner Advisory Council (LPAC)
Limited Partner Excuse
Limited Partner Transfer
Limited Partner Withdrawal
Limited Partnership (LP)
Limited Partnership Agreement (LPA)
Line of Credit
Linkage
Liquidity
Liquidity Coverage Ratio (LCR)
Liquidity Risk
Loan Amortisation
Loan Amortization Period
Loan Covenants
Loan Lockout Period
Loan Term
Loan to Cost (LTC)
Loan to equity
Locational Obsolescence
Lock-Out Period
Lock-up
Lock-up Period
Lock-Up Period
London Interbank Offered Rate (LIBOR)
Low-rise Apartments
M
Make-Whole Margin
Make-Whole Provision
Management Fee
Management Risk
Mandate
Mandatory disclosure requirements
Manufacturing facility (industrial)
Margin
Mark-to-Market
Market Analysis
Market Approach (valuation technique)
Market Area
Market Cycle
Market Delineation
Market Interest Rate
Market Participants
Market Portfolio
Market Rent
Market Risk
Market Risk Premium
Market Segmentation
Market Share
Market Study
Market Vacancy
Market Value
Marketability Analysis
Marketing costs
Master Lease
Master Vehicle
Material Adverse Effect
Maturity Date
Maximum LTV
Mean
Mean-Variance Analysis
Median Income
Metropolitan Statistical Area (MSA)
Mezzanine Debt
Minimum Capital Requirement (MCR)
Minimum Rent
Mixed-Asset Portfolio
Mixed-Use
Modern Portfolio Theory (MPT)
Modified Dietz
Money-Weighted Rate of Return
Monte Carlo Simulation
Moral Hazard
Mortgage Company
Mortgage REIT
Mortgagee
Mortgagor
Most Favored Nations Clause (MFN)
Multi manager
Multi-Asset Portfolio
Multi-Tenant
N
National Council of Real Estate Investment Fiduciaries (NCREIF)
Negative Leverage
Neighborhood Center (retail)
Nelson Technique
Net Absorption
Net Asset Value - NAV (INREV)
Net Asset Value - NAV (RS)
Net Debt Yield
Net equivalent yield
Net financing cost
Net Income
Net Initial Yield (NIY)
Net investment income-Operating Model
Net Lease
Net Operating Income (NOI)
Net return
Net Sale Price
Net Zero Carbon Building
Neutral Leverage
NOI yield
Nominal Alpha
Nominal Tax Rate
Nominal value of debt excluding shareholder loans
Non-Amortizing Debt/Loan/Mortgage
Non-Compete Clause/Provision
Non-controlling effects on the INREV NAV adjustments
Non-Controlling Equity Interests (Minority Interest)
Non-Discretion or Non-Discretionary
Non-Diversifiable Risk
Non-Operating Model
Non-participating mortgage loan
Non-Performing Loan (NPL)
Non-Recourse
Non-Recourse Debt
Non-Transferable Debt/Loan/Mortgage
Nonconforming Use
Number of assets
Number of new / renewed loans
Numerator
O
Obligor
Occupancy Rate
Offer price
Office Showroom
Open End Vehicle
Operating Expense Risk
Operating Expenses
Operating Model
Operating Partner
Operating Property
Operational control
Operational Real Estate
Operational results
Operational Risk
Opportunistic (INREV Style)
Opportunistic (RS Style)
Opportunity Cost
Other net income
Other/misc. vehicle costs
Outlet Center
Outliers
Outsourced Chief Investment Officer (CIO)
Outsourcing
Outstanding Capital Commitment
Outstanding Portfolio Balance
Outstanding Principal Balance
Over the Counter (OTC)
Overage Rent
Override Fee
Overstored Trading Area
P
Paid in capital
Paid in Capital Multiple
Paid in capital to committed capital multiple
Par Value
Parallel Vehicle
Pari-Passu
Parking Index
Parking Ratio
Partial Period (for TWR purposes)
Participated Loan
Participating mortgage
Partnership
Party-in-Interest
Party-in-Interest Transaction
Pass-Through Entity
Payment in Kind (PIK) interest/ Accrued Interest
Pension Real Estate Association (PREA)
Percentage In Point (PIP)
Percentage of total capital commitments invested
Percentage Rent
Performance Allocation
Performance Attribution
Performance Bond
Performance fee
Permitted Payment
Personal Property
Persons
Phase I Environmental Site Assessment (ESA)
Phase II Environmental Site Assessment (ESA)
Phase III Environmental Site Assessment (ESA)
Physical Obsolescence
Physical Risk
Placement Agent
Placement agent costs
Planned Liquidation Date
Pooled Fund
Pooled Trusts
Portfolio Deal
Portfolio Interest Service Coverage Ratio
Positive Leverage
Potential Gross Income (PGI)
Potential Gross Rent
Power Center
Predevelopment
Preferred Debt/Loan/Mortgage
Preferred Return
Prepayment
Prepayment Fees
Prepayment Penalty
Price Interest Point (PIP)
Pricing Risk
Primary Trade Area
Prime Space
Prime Tenant
Principal Market
Private Placement
Private Placement Memorandum (PPM)
Professional services costs
Profit
Programmatic Joint Venture
Prohibited Transaction
Prohibited Transaction Safe Harbor
Project management costs
Project management fee (excl. development activities)
Promote
Property
Property acquisition costs
Property acquisition fee
Property Company
Property Condition Assessment Report
Property Conversion
Property disposition costs
Property disposition fee
Property insurance costs
Property Level Return
Property Loan to Value (LTV)
Property Management Company
Property management costs
Property Management Fee
Property Manager
Property Protection Loan
Property Stacking Plan
Property-level loan to value
Property-related taxes
Prospective Value
Prospectus
Protecting Americans from Tax Hikes Act of 2015 (PATH Act)
Prudent Man Rule
Public Market Equivalent (PME)
Public/Private Partnership (PPP)
Purchasing Power
Purchasing Power Risk
Q
Qualified Borrower
Qualified Business Income
Qualified Client or Investor
Qualified Foreign Pension Fund (QFPF) or Plan (QFPP)
Qualified Organization (QO)
Qualified Plan
Qualified Purchaser
Query
R
Racketeer Influenced and Corrupt Organizations Act (RICO)
Rating Agency
Real Estate Expense Ratio (REER)
Real Estate Investment Trust (REIT)
Real Estate Market Cycle
Real Estate Market Cycle Risk
Real Estate Operator
Real Property Interest
Realised (capital) gain/ loss
Realization Multiple
Recallable Capital
Recognized Environmental Condition (REC)
Reconciliation
Recourse Debt
Recourse Loan
Recoveries
Recovery Payment Proceeds
Redemption
Redemption Cap
Redemption fees
Redemption Period
Redemption Queue
Redemption Queuing Mechanism
Redevelopment
Refurbishment
Regional Center
Regional Mall
Registered Investment Advisor (RIA)
Registration Statement
Regression Analysis
Regression Line
Regulation A+ Offering (Reg A+)
Regulation D Offering (Reg D)
Regulatory / Statutory costs
Reilly’s Law of Retail Gravitation
Reimbursement Income
Related parties
Related Party Transaction
Relative Return
Remaining capital commitment
Remedial Action Plan
Renewable energy
Renewal Option
Renovation
Rent (Rental) Growth
Rent Concessions
Rent Growth
Rent-Up Period
Rentable Area
Rented Area
Repayment
Replacement Costs
Reporting standards - handbook volume I and II
Repositioning
Required standard
Research and Development (industrial)
Reserve
Residential Mortgage-Backed Securities (RMBS)
Residual Capitalization (Cap) Rate
Residual multiple
Residual Risk
Residual value
Residual value to paid-in capital multiple (RVPI)
Resolution Trust Corporation (RTC)
Restrictions on transfer
Retail Investor
Retrofit
Return of capital
Return on Capital (ROC)
Return on Invested Capital (ROIC)
Return on Total Capital (ROTC)
Reversionary income
Reversionary yield
Reward-to-Risk Ratio
Right of First Offer (ROFO)
Right of First Refusal (ROFR)
Risk Factor
Risk Parity
Risk Preferences
Risk-Adjusted Discount Rate
Risk-Adjusted Return
Risk-Free Rate
ROI (Return on Investment)
Rollover
Rollover Risk
Royal Institution of Chartered Surveyors (RICS)
Rule 144A
S
Safe Harbor
Sale-Leaseback
Sales Comparison Approach (SCA)
Sales Risk
Saturated Trading Area
Savings and Loan Association (S&L)
Scenario Analysis
Second Generation Space
Second Mortgage
Secondary Space
Secondary Trade
Secondary Trade Area
Section 892 Exemption
Secured Overnight Financing Rate (SOFR)
Securities Act of 1933
Securities and Exchange Commission (SEC)
Securities Exchange Act (SEA) of 1934
Securities handling charges
Securitization
Securitized Loan
Security
Security Agent
Security Market Line (SML)
Seed Asset
Segregated Account
Selection (in Attribution)
Self-Storage (facility)
Senior Debt/Loan/Mortgage
Senior Living (facility)
Senior Loan
Sensitivity Analysis
Separate Accounts
Set-up costs
SFAS
Sharpe Ratio
Shopping Center
Side Letter
Sidecar Fund or Investment
Signage
Single Account
Single Asset Deal
Single Client Account
Single Real Estate Operating Company (REOC) Fund
Site Analysis
Site Development
Site Plan
Social Impact
Social Investing
Social Responsibility
Solver Function (Excel)
Sophisticated Investor
Sovereign Wealth Fund (SWF)
Space Absorption
Space Market
Space Plan
Special Limited Partner
Special Purpose Vehicle (SPV)
Specialist Consultant or Consulting Firm
Specific Risk
Specified Asset or Investment
Specified Investing
Speculative Space
Spens Clause
Sponsor
Stabilisation
Staff costs
Standalone Sustainable Lending Policy
Standard Deviation (σ)
Standing investment
Start of Investment Period
Stated Rent
Statement of Position (SOP) (accounting)
Step in Rights
Step-Up Provision
Stepped Rent
Strategic Investment Decisions
Strategy-Account Vehicle
Strip Center
Style
Style Drift
Style-Fund
Subadvisor
Subordinate Debt/Loan/Mortgage
Subordinated Creditor
Subordinated Creditor's Security Agreement
Subordinated Loan
Subordination
Subordination Agreement
Subscription Agreement
Subscription fee
Subscription Period
Subscription queuing mechanism
Subscription secured credit facilities
Subscription-Backed Credit Facility
Super-Exempt US Investor
Super-Regional Mall
Superfund or Comprehensive Environmental Response, Compensation and Liability Act (CERCLA)
Supermajority
Supply Risk
Surety Bond
Sustainability
Sustainability scorecard
Sustainable Development Goals (SDG)
Sustainable Investment
Syndicated Loan
Syndicated loan purchaser
Systematic Risk
Systemic Risk
T
Tactical Investment Decisions
Tag-Along Rights
Target percentage non-income producing investments
Target percentage of (re)development exposure
Target return derived from income
Tax Bracket
Tax effect of the adjustments
Tax Efficiency
Tax Shelter
Tax-Exempt Investor
Taxable REIT Subsidiary (TRS)
Taxes on property related activities
Tear Sheet
Tenant Finish Allowance
Tenant Improvement Allowance
Tenant Improvements
Tenant Mix
Term
Terminal Capitalization (Cap) Rate
Terminal Value
Termination Clause
Termination Date
Terrorism Risk
Tertiary Trade Area
Theme / Festival Center
TIF Notes
Time-Weighted Return (TWR)
Time-Weighted Return (TWR) (Fund Level)
Time-Weighted Return (TWR), investment level
Time-Weighted Return (TWR), property level
Top-Down Investing
Topography
Total capital commitment drawn
Total capital commitments (By all investors)
Total capital drawn down
Total current outstanding capital
Total debt maturities
Total direct GHG emissions
Total Expense Ratio (TER)
Total indirect GHG emissions
Total return (net and unlevered)
Total return net to investor
Total return of capital
Total returned capital recalled
Total Value to paid in capital multiple (TVPI)
Tracking Error
Trade Area
Traffic Count
Transaction Document
Transaction Obligor
Transaction offsets
Transfer agent costs
Transferee
Transferor
Transition Risk
Transparency
Treynor Ratio
Triple Net Lease (NNN)
Trustee Costs
Truth in Securities Law
Turn Key Project
U
Umbrella Partnership Real Estate Investment Trust (UPREIT)
Uncalled Capital Commitment
Underserved population
Understored Trading Area
Undiversifiable Risk
Unfunded Commitment
Uniform Standards of Professional Appraisal Practice (USPAP)
Units of Comparison
Unrealised (capital) gain / loss
Unrelated Business Income Tax (UBIT)
Unrelated Business Taxable Income (UBTI)
Unsystematic Risk
Upfit
Urban Land Institute (ULI)
US Real Property Holding Corporation (USRPHC)
US Real Property Interest (USRPI)
Usable Area
Usury
Utilities, repair and maintenance costs (non-rechargeable portion)
V
Vacancy (Based on estimated rental value)
Vacancy (Based on leasable floor space)
Vacancy Loss
Valuation
Valuation costs
Valuation Policy
Valuation Risk
Value Creation
Value-added (INREV Style)
Value-added (RS Style)
Value-Weighted Index
Variable Cost or Expense
Variance
Vehicle
Vehicle administration costs
Vehicle Documentation
Vehicle formation costs
Vehicle Formation Date
Vehicle Loan to Value (LTV)
Vehicle Manager
Vehicle-level loan to cost
Vehicle-level loan to value
Venture Capital
Venture Capital Operating Company (VCOC)
Vertically Integrated Manager
Vintage Year
Visibility
Void rate
Volatility
W
Warehouse (industrial)
Waste by disposal route
Waterfall
Waterfall Analysis
Waterfall calculation
Wealth taxes
Weighted average cost of debt
Weighted average cost of debt excluding shareholder loans
Weighted Average interest rate of Fund T1 leverage
Weighted average lease expiry
Weighted average maturity of debt excluding shareholder loans (Years)
Weighted Average Remaining term of Fixed Rate Fund T1 leverage
Weighted Average Remaining term of Floating Rate Fund T1 leverage
What-If Analysis
Whistleblower
Whole Loan
Wholly Owned Subsidiary
Wind-up fee
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
Q
R
S
T
U
V
W
X
Y
Z
W
Wind-up fee
Wholly Owned Subsidiary
Whole Loan
Whistleblower
What-If Analysis
Weighted Average Remaining term of Floating Rate Fund T1 leverage
Weighted Average Remaining term of Fixed Rate Fund T1 leverage
Weighted average maturity of debt excluding shareholder loans (Years)
Weighted average lease expiry
Weighted Average interest rate of Fund T1 leverage
Weighted average cost of debt excluding shareholder loans
Weighted average cost of debt
Wealth taxes
Waterfall calculation
Waterfall Analysis
Waterfall
Waste by disposal route
Warehouse (industrial)
V
Volatility
Void rate
Visibility
Vintage Year
Vertically Integrated Manager
Venture Capital Operating Company (VCOC)
Venture Capital
Vehicle-level loan to value
Vehicle-level loan to cost
Vehicle Manager
Vehicle Loan to Value (LTV)
Vehicle Formation Date
Vehicle formation costs
Vehicle Documentation
Vehicle administration costs
Vehicle
Variance
Variable Cost or Expense
Value-Weighted Index
Value-added (RS Style)
Value-added (INREV Style)
Value Creation
Valuation Risk
Valuation Policy
Valuation costs
Valuation
Vacancy Loss
Vacancy (Based on leasable floor space)
Vacancy (Based on estimated rental value)
U
Utilities, repair and maintenance costs (non-rechargeable portion)
Usury
Usable Area
US Real Property Interest (USRPI)
US Real Property Holding Corporation (USRPHC)
Urban Land Institute (ULI)
Upfit
Unsystematic Risk
Unrelated Business Taxable Income (UBTI)
Unrelated Business Income Tax (UBIT)
Unrealised (capital) gain / loss
Units of Comparison
Uniform Standards of Professional Appraisal Practice (USPAP)
Unfunded Commitment
Undiversifiable Risk
Understored Trading Area
Underserved population
Uncalled Capital Commitment
Umbrella Partnership Real Estate Investment Trust (UPREIT)
T
Turn Key Project
Truth in Securities Law
Trustee Costs
Triple Net Lease (NNN)
Treynor Ratio
Transparency
Transition Risk
Transferor
Transferee
Transfer agent costs
Transaction offsets
Transaction Obligor
Transaction Document
Traffic Count
Trade Area
Tracking Error
Total Value to paid in capital multiple (TVPI)
Total returned capital recalled
Total return of capital
Total return net to investor
Total return (net and unlevered)
Total indirect GHG emissions
Total Expense Ratio (TER)
Total direct GHG emissions
Total debt maturities
Total current outstanding capital
Total capital drawn down
Total capital commitments (By all investors)
Total capital commitment drawn
Topography
Top-Down Investing
Time-Weighted Return (TWR), property level
Time-Weighted Return (TWR), investment level
Time-Weighted Return (TWR) (Fund Level)
Time-Weighted Return (TWR)
TIF Notes
Theme / Festival Center
Tertiary Trade Area
Terrorism Risk
Termination Date
Termination Clause
Terminal Value
Terminal Capitalization (Cap) Rate
Term
Tenant Mix
Tenant Improvements
Tenant Improvement Allowance
Tenant Finish Allowance
Tear Sheet
Taxes on property related activities
Taxable REIT Subsidiary (TRS)
Tax-Exempt Investor
Tax Shelter
Tax Efficiency
Tax effect of the adjustments
Tax Bracket
Target return derived from income
Target percentage of (re)development exposure
Target percentage non-income producing investments
Tag-Along Rights
Tactical Investment Decisions
S
Systemic Risk
Systematic Risk
Syndicated loan purchaser
Syndicated Loan
Sustainable Investment
Sustainable Development Goals (SDG)
Sustainability scorecard
Sustainability
Surety Bond
Supply Risk
Supermajority
Superfund or Comprehensive Environmental Response, Compensation and Liability Act (CERCLA)
Super-Regional Mall
Super-Exempt US Investor
Subscription-Backed Credit Facility
Subscription secured credit facilities
Subscription queuing mechanism
Subscription Period
Subscription fee
Subscription Agreement
Subordination Agreement
Subordination
Subordinated Loan
Subordinated Creditor's Security Agreement
Subordinated Creditor
Subordinate Debt/Loan/Mortgage
Subadvisor
Style-Fund
Style Drift
Style
Strip Center
Strategy-Account Vehicle
Strategic Investment Decisions
Stepped Rent
Step-Up Provision
Step in Rights
Statement of Position (SOP) (accounting)
Stated Rent
Start of Investment Period
Standing investment
Standard Deviation (σ)
Standalone Sustainable Lending Policy
Staff costs
Stabilisation
Sponsor
Spens Clause
Speculative Space
Specified Investing
Specified Asset or Investment
Specific Risk
Specialist Consultant or Consulting Firm
Special Purpose Vehicle (SPV)
Special Limited Partner
Space Plan
Space Market
Space Absorption
Sovereign Wealth Fund (SWF)
Sophisticated Investor
Solver Function (Excel)
Social Responsibility
Social Investing
Social Impact
Site Plan
Site Development
Site Analysis
Single Real Estate Operating Company (REOC) Fund
Single Client Account
Single Asset Deal
Single Account
Signage
Sidecar Fund or Investment
Side Letter
Shopping Center
Sharpe Ratio
SFAS
Set-up costs
Separate Accounts
Sensitivity Analysis
Senior Loan
Senior Living (facility)
Senior Debt/Loan/Mortgage
Self-Storage (facility)
Selection (in Attribution)
Segregated Account
Seed Asset
Security Market Line (SML)
Security Agent
Security
Securitized Loan
Securitization
Securities handling charges
Securities Exchange Act (SEA) of 1934
Securities and Exchange Commission (SEC)
Securities Act of 1933
Secured Overnight Financing Rate (SOFR)
Section 892 Exemption
Secondary Trade Area
Secondary Trade
Secondary Space
Second Mortgage
Second Generation Space
Scenario Analysis
Savings and Loan Association (S&L)
Saturated Trading Area
Sales Risk
Sales Comparison Approach (SCA)
Sale-Leaseback
Safe Harbor
R
Rule 144A
Royal Institution of Chartered Surveyors (RICS)
Rollover Risk
Rollover
ROI (Return on Investment)
Risk-Free Rate
Risk-Adjusted Return
Risk-Adjusted Discount Rate
Risk Preferences
Risk Parity
Risk Factor
Right of First Refusal (ROFR)
Right of First Offer (ROFO)
Reward-to-Risk Ratio
Reversionary yield
Reversionary income
Return on Total Capital (ROTC)
Return on Invested Capital (ROIC)
Return on Capital (ROC)
Return of capital
Retrofit
Retail Investor
Restrictions on transfer
Resolution Trust Corporation (RTC)
Residual value to paid-in capital multiple (RVPI)
Residual value
Residual Risk
Residual multiple
Residual Capitalization (Cap) Rate
Residential Mortgage-Backed Securities (RMBS)
Reserve
Research and Development (industrial)
Required standard
Repositioning
Reporting standards - handbook volume I and II
Replacement Costs
Repayment
Rented Area
Rentable Area
Rent-Up Period
Rent Growth
Rent Concessions
Rent (Rental) Growth
Renovation
Renewal Option
Renewable energy
Remedial Action Plan
Remaining capital commitment
Relative Return
Related Party Transaction
Related parties
Reimbursement Income
Reilly’s Law of Retail Gravitation
Regulatory / Statutory costs
Regulation D Offering (Reg D)
Regulation A+ Offering (Reg A+)
Regression Line
Regression Analysis
Registration Statement
Registered Investment Advisor (RIA)
Regional Mall
Regional Center
Refurbishment
Redevelopment
Redemption Queuing Mechanism
Redemption Queue
Redemption Period
Redemption fees
Redemption Cap
Redemption
Recovery Payment Proceeds
Recoveries
Recourse Loan
Recourse Debt
Reconciliation
Recognized Environmental Condition (REC)
Recallable Capital
Realization Multiple
Realised (capital) gain/ loss
Real Property Interest
Real Estate Operator
Real Estate Market Cycle Risk
Real Estate Market Cycle
Real Estate Investment Trust (REIT)
Real Estate Expense Ratio (REER)
Rating Agency
Racketeer Influenced and Corrupt Organizations Act (RICO)
Q
Query
Qualified Purchaser
Qualified Plan
Qualified Organization (QO)
Qualified Foreign Pension Fund (QFPF) or Plan (QFPP)
Qualified Client or Investor
Qualified Business Income
Qualified Borrower
P
Purchasing Power Risk
Purchasing Power
Public/Private Partnership (PPP)
Public Market Equivalent (PME)
Prudent Man Rule
Protecting Americans from Tax Hikes Act of 2015 (PATH Act)
Prospectus
Prospective Value
Property-related taxes
Property-level loan to value
Property Stacking Plan
Property Protection Loan
Property Manager
Property Management Fee
Property management costs
Property Management Company
Property Loan to Value (LTV)
Property Level Return
Property insurance costs
Property disposition fee
Property disposition costs
Property Conversion
Property Condition Assessment Report
Property Company
Property acquisition fee
Property acquisition costs
Property
Promote
Project management fee (excl. development activities)
Project management costs
Prohibited Transaction Safe Harbor
Prohibited Transaction
Programmatic Joint Venture
Profit
Professional services costs
Private Placement Memorandum (PPM)
Private Placement
Principal Market
Prime Tenant
Prime Space
Primary Trade Area
Pricing Risk
Price Interest Point (PIP)
Prepayment Penalty
Prepayment Fees
Prepayment
Preferred Return
Preferred Debt/Loan/Mortgage
Predevelopment
Power Center
Potential Gross Rent
Potential Gross Income (PGI)
Positive Leverage
Portfolio Interest Service Coverage Ratio
Portfolio Deal
Pooled Trusts
Pooled Fund
Planned Liquidation Date
Placement agent costs
Placement Agent
Physical Risk
Physical Obsolescence
Phase III Environmental Site Assessment (ESA)
Phase II Environmental Site Assessment (ESA)
Phase I Environmental Site Assessment (ESA)
Persons
Personal Property
Permitted Payment
Performance fee
Performance Bond
Performance Attribution
Performance Allocation
Percentage Rent
Percentage of total capital commitments invested
Percentage In Point (PIP)
Pension Real Estate Association (PREA)
Payment in Kind (PIK) interest/ Accrued Interest
Pass-Through Entity
Party-in-Interest Transaction
Party-in-Interest
Partnership
Participating mortgage
Participated Loan
Partial Period (for TWR purposes)
Parking Ratio
Parking Index
Pari-Passu
Parallel Vehicle
Par Value
Paid in capital to committed capital multiple
Paid in Capital Multiple
Paid in capital
O
Overstored Trading Area
Override Fee
Overage Rent
Over the Counter (OTC)
Outstanding Principal Balance
Outstanding Portfolio Balance
Outstanding Capital Commitment
Outsourcing
Outsourced Chief Investment Officer (CIO)
Outliers
Outlet Center
Other/misc. vehicle costs
Other net income
Opportunity Cost
Opportunistic (RS Style)
Opportunistic (INREV Style)
Operational Risk
Operational results
Operational Real Estate
Operational control
Operating Property
Operating Partner
Operating Model
Operating Expenses
Operating Expense Risk
Open End Vehicle
Office Showroom
Offer price
Occupancy Rate
Obligor
N
Numerator
Number of new / renewed loans
Number of assets
Nonconforming Use
Non-Transferable Debt/Loan/Mortgage
Non-Recourse Debt
Non-Recourse
Non-Performing Loan (NPL)
Non-participating mortgage loan
Non-Operating Model
Non-Diversifiable Risk
Non-Discretion or Non-Discretionary
Non-Controlling Equity Interests (Minority Interest)
Non-controlling effects on the INREV NAV adjustments
Non-Compete Clause/Provision
Non-Amortizing Debt/Loan/Mortgage
Nominal value of debt excluding shareholder loans
Nominal Tax Rate
Nominal Alpha
NOI yield
Neutral Leverage
Net Zero Carbon Building
Net Sale Price
Net return
Net Operating Income (NOI)
Net Lease
Net investment income-Operating Model
Net Initial Yield (NIY)
Net Income
Net financing cost
Net equivalent yield
Net Debt Yield
Net Asset Value - NAV (RS)
Net Asset Value - NAV (INREV)
Net Absorption
Nelson Technique
Neighborhood Center (retail)
Negative Leverage
National Council of Real Estate Investment Fiduciaries (NCREIF)
M
Multi-Tenant
Multi-Asset Portfolio
Multi manager
Most Favored Nations Clause (MFN)
Mortgagor
Mortgagee
Mortgage REIT
Mortgage Company
Moral Hazard
Monte Carlo Simulation
Money-Weighted Rate of Return
Modified Dietz
Modern Portfolio Theory (MPT)
Mixed-Use
Mixed-Asset Portfolio
Minimum Rent
Minimum Capital Requirement (MCR)
Mezzanine Debt
Metropolitan Statistical Area (MSA)
Median Income
Mean-Variance Analysis
Mean
Maximum LTV
Maturity Date
Material Adverse Effect
Master Vehicle
Master Lease
Marketing costs
Marketability Analysis
Market Value
Market Vacancy
Market Study
Market Share
Market Segmentation
Market Risk Premium
Market Risk
Market Rent
Market Portfolio
Market Participants
Market Interest Rate
Market Delineation
Market Cycle
Market Area
Market Approach (valuation technique)
Market Analysis
Mark-to-Market
Margin
Manufacturing facility (industrial)
Mandatory disclosure requirements
Mandate
Management Risk
Management Fee
Make-Whole Provision
Make-Whole Margin
L
Low-rise Apartments
London Interbank Offered Rate (LIBOR)
Lock-Up Period
Lock-up Period
Lock-up
Lock-Out Period
Locational Obsolescence
Loan to equity
Loan to Cost (LTC)
Loan Term
Loan Lockout Period
Loan Covenants
Loan Amortization Period
Loan Amortisation
Liquidity Risk
Liquidity Coverage Ratio (LCR)
Liquidity
Linkage
Line of Credit
Limited Partnership Agreement (LPA)
Limited Partnership (LP)
Limited Partner Withdrawal
Limited Partner Transfer
Limited Partner Excuse
Limited Partner Advisory Council (LPAC)
Limited Partner
Limited Liability Partnership (LLP)
Limited Liability Company (LLC)
Limited Liability Company
Lifecycle
Life Insurance Separate Account
Liability Driven Investment (LDI)
Leverage Ratio
Leverage Percentage
Leverage Limits
Leverage
Letter of credit (LOC)
Lessor
Lessee
Lender
Lendee
Legislative Risk
Legal fees (Not property specific)
Leasing Fee
Leasehold Value
Leased Fee Estate
Lease Terms
Lease Expiration Exposure Schedule
Lease Commencement Date
Lease Area
Lease Agreement
Lease
Lead Manager
Landscaping
Land Ratio Method
Lag Vacancy
K
Know Your Customer (KYC)
Kick-Out Clause/Provision
Key person clause
J
Junior Debt/Loan/Mortgage
Junior Debt
Joint Venture
Job creation
Jensen’s Alpha
Japanese Real Estate Investment Trust (J REIT)
J Curve
I
Investor Opinion
Investor Letter
Investment Value
Investment Risk
Investment Policy
Investment Period
Investment multiple
Investment margin (Spread)
Investment Manager
Investment Management Company
Investment Management Agreement
Investment Level Return
Investment level
Investment Guidelines or Limitations
Investment Guidelines
Investment Grade Security
Investment Company Act of 1940
Investment Company
Investment Advisor
Investment Advisers Act of 1940 (Investment Advisers Act)
Investment
Investee
Invested Capital
Inventory
International Valuation Standards Council (IVSC)
International Financial Reporting Standards (IFRS)
International Council of Shopping Centers (ICSC)
Internal valuation
Internal Ratings-Based Approach (IRB)
Internal Rate of Return-starting from inception to end-projected-net
Internal Rate of Return-starting from inception to end-projected-gross
Internal Rate of Return-since inception net
Internal Rate of Return-since inception gross of fees
Internal Rate of Return-realized (Gross) vehicle
Internal Rate of Return-original and projected
Internal Rate of Return-net
Internal Rate of Return-gross
Internal Rate of Return (IRR) Breakpoint Analysis
Internal Rate of Return - IRR (RS)
Internal Rate of Return - IRR (INREV)
Internal leasing commissions
Intermediary
Interim Close
Interest reserve account
Interest Rate Swaps
Interest Rate Risk
Interest rate hedging ratio
Interest Rate
Interest Period
Interest Payment Date (IPD)
Intercreditor Agreement
Interaction (in Attribution)
Intentionality
Intangible Personal Property
Insurance Prepayment Proceeds
INREV Guidelines
INREV
Initial Yield
Initial Leasing
Initial Closing
Informational Efficiency
Information Ratio
Information Covenants
Inflation Risk
Inflation Hedge
Industrial Revenue Bonds
Indexed Rent
Independent Variable
Indemnity
Income return
Income distribution
Income Approach (valuation technique)
Inception-Date Cohort
Inception date (Fund)
Inception date
Incentive Fee
Implemented Consulting
Impact Measurement & Management
Impact investing metrics
Impact Investing
Idiosyncratic Risk
H
HVAC
Hurdle Rate
Huff’s Law of Shopper Attraction
Household Population
Household
Homogenous or Homogeneous
Holding Period
Holding Company
Hold-Over Tenant
Hold Period
Historical Interest Cover Ratio (Historical ICR)
Highest and Best Use
High-Yield Investment
High-rise Elevator Apartments
High Quality Liquid Assets (HQLA)
hedging instruments
Hedging Arrangement/Agreement
Hedged %
Heat Map
Haircut
G
Guarantor
Guarantee
Ground Rent
Ground Lease
Gross Sales Price
Gross Sales Area (GSA)
Gross return
Gross Rent Multiplier (GRM)
Gross property value
Gross property return
Gross operating income
Gross Negligence
Gross National Product (GNP)
Gross Lease
Gross Leasable Area (GLA)
Gross initial yield
Gross Income Multiplier (GIM)
Gross Floor Area (GFA)
Gross equity multiple of vehicle realized
Gross Domestic Product (GDP)
Gross Building Area
Gross Assets (for fund leverage measures)
Gross asset value of vehicle (Including pro rata share in joint ventures)
Greenhouse gas (GHG) emissions
Greenfield
Great Recession, The
Great Depression, The
Gravity or Gravitational Models
Graduated Lease
Governmental Accounting Standards Board (GASB)
Going-In Capitalization (Cap) Rate
Going-Concern Value
Global Investment Performance Standards (GIPS®)
Global Financial Crisis (GFC)
Global Endowment Management Implied Private Premium® (GEM IPP)
Glide Path
Giveback Provision
Geometrically linked TWR
Geometric Mean
Geographic Information System(s) (GIS)
Geographic Core
Geo-Fence
Generally Accepted Accounting Principles (GAAP)
General Partner (GP)
General Consultant or Consulting Firm
Garden-type Apartments
F
Future Proposed Space
Funds of funds
Fund Manager
Fund management fee
Fund Expenses
Fund /Account(s)
Fund
Functional Obsolescence
Full-Pool Carry (Waterfall)
Full Service Rent
Full Service Lease
Full Recourse Guarantee
Fugitive emissions
Frontage
Frictional Vacancy
Free Rent
Fractions Rule
Four Quadrants
Foundational Standards
Foundation
Forward Commitment
Foreign Investment in Real Property Tax Act of 1980 (FIRPTA)
Foreign exchange difference
Foreign Corrupt Practices Act (FCPA)
Force Majeure
Follow-On Investment
Floor Area Ratio (FAR)
Floor area
Floating Rate Debt
Flexibility for alternative use
Flex Space (industrial)
Flat Fee
Fixture
Fixed Rate Recourse Debt
Fixed Rate Debt
Fixed or Determinable Annual or Periodical Income (FDAP)
Fixed Cost or Expense
Fixed and floating charges over assets
First-Time Fund
First-Close Investor
First Ranking Mortgage
First Loss (Equity) Position
First Generation Space
Financing fee
Financing Company
Financial Risk
Financial Institutions Reform, Recovery and Enforcement Act (FIRREA)
Financial Industry Regulatory Authority (FINRA)
Financial Inclusion
Financial Covenants
Financial control
Financial Accounting Standards Board (FASB)
Finance, Insurance, and Real Estate (FIRE)
Final closing
Fiduciary Self-Dealing Transactions
Fiduciary
Feeder Vehicle
Feed-in-Tariffs
Fee waivers
Fee Spread (in Percent)
Fee Simple Value
Fee Sharing (in Dollars)
Fee reductions/rebates
Fee Loss (in Percent)
Fee Loss (in Dollars)
Fee Leakage
Fee Drag
Fashion / Specialty Center
Fair Value Option
Fair value of vehicle according to INREV guidelines
Fair value of investment portfolio
Fair Value Net Asset Value (FV NAV)
Fair Value Generally Accepted Accounting Principles (FV GAAP)
Fair Value Accounting Policy Manual
Fair value (IFRS definition)
Fair Value (GIPS, Appraisal Institute)
Fair Value
Facility Agent
Face Rent
Facade
E
Externality
External leasing commissions
Extension
Expense Stop
Expense Reimbursements
Expense Ratio
Expense Policy
Expansion
Exit LTV
Exit Capitalization (Cap) Rate
Exempt fees and costs
Execution Risk
Exclusivity Right
Exclusion Clause/Provision
Excluded Recovery Proceeds
Exchange Rate Risk
Excess Return
Event Risk
Event of Default (EOD)
Euro Interbank Offered Rate (EURIBOR)
Estimated Rental Value (ERV)
Escheat
ERISA Limited Partner
ERISA Fund
ERISA
Equity-share
Equity Yield or Equity Yield Rate
Equity multiple-net, projected
Equity multiple- gross, projected
Equity multiple (Net)
Equity multiple (Gross)
Equity Method
Equity Capitalization (Cap) Rate
Equilibrium Vacancy
Equilibrium
Equal-Weighted Index
Environmental, Social and Governance (ESG) Criteria
Environmental Risk
Environmental Protection Agency (EPA)
Environmental Indemnity Agreement
Environmental Assessment
Environment, Social and Governance (ESG)
Entity Investing
Entitlement Risk
Entitlement
Enterprise Zone
Endowment
End of maximum extendable vehicle term
End of Investment Period
Encumbrance
Employee Retirement Income Security Act of 1974 (ERISA)
Emerging Manager
Emerging Issues Task Force (EITF)
Elasticity
Egress
Efficient Frontier
Efficiency Ratio
Effectively Connected Income (ECI)
Effectively Connected Earnings and Profits
Effective Yield
Effective Tax Rate
Effective Share
Effective Rent
Effective Practical Control (of Section 892)
Effective Ownership Share
Effective Gross Income (EGI)
Effective Buying Income (EBI)
Effective Age
Economic Share
Economic Regime
Economic Ownership
Economic Obsolescence
Economic Life
Economic Feasibility
Economic Development
Easement
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
D
Duty of Care Agreement
Due-on-Transfer Clause
Due-on-Sale Clause
Due Diligence Questionnaire (DDQ)
Dry Powder
Drive Time-Based Trade Area
Drawdown
Drag-Along Rights
DOWNREIT
Dollar-Weighted Rate of Return
Dividend Payment
Dividend Equivalent Amount
Diversity, Equity and Inclusion (DEI)
Diversifiable Risk
District heating and cooling
Distributions to paid-in capital (DPI) multiple
Distributions
Distribution-dividend yield
Distribution Waterfall
Distribution fee
Distressed Asset
Disposition Fee
Disposition
Disposals Account
Discretion or Discretionary Account
Discretion
Discounted Cash Flow (DCF)
Discount Rate
Discount margin
Direct Investment
Direct Alpha
Dilution
Development Margin
Development fee
Development Facility
Development
Developer Profit
Design/Amenity Attributes
Derivative Security
Deposit Account
Dependent Variable
Denominator
Demand Driver
Delivered
Delinquency Rate
Defined Contribution Pension Plan
Defined Benefit Pension Plan
Deferred taxes
Deferred Maintenance
Defaulting Investor
Default Covenant
Debt Yield
Debt Vehicle
Debt Service Coverage Ratio - DSCR (RS)
Debt Service Coverage Ratio - DSCR (INREV)
Debt Interest
Debt Fund
Debt arrangement fee
Debt arrangement costs
Debenture
Deal-by-Deal Carry (Waterfall)
Deadlock Provision
Dead deal costs
Dark Space
C
Customer Spotting Technique
Custodian costs
Current Occupancy
Current Expected Credit Losses (CECL)
Current development exposure as percentage of Gross Asset Value (GAV)
Currency Risk
Currency exposure
Cure Rights
Cure Period
Cumulative TWR returns
Cross-Over Demand
Cross Collateralization
Credit Tenant
Credit Risk
Credit Rating
Credit Facility
Credit enhancements
Credit Default Swap (CDS)
Credit Committee
Covenant
Covariance
Country Risk
Counter Party Risk
Costs of Sale
Cost of development portfolio
Cost Index
Cost Approach (valuation technique)
Correlation Coefficient ( )
Correlation
Corporate Housing
Corporate Governance
Corporate Blocker
Core-Based Statistical Area (CBSA)
Core Plus
Core (RS Style)
Core (INREV Style)
Convertible Preferred Stock
Convertible Debt/Loan/Mortgage
Convertible Debt
Controlling Equity Interest
Controlled Commercial Entity (of Section 892)
Contributory Value
Contractual Principal
Contractual Interest
Contract Rent
Continuous Operations Clause
Contingent Rent
Contingent liabilities
Contingent Interest
Contiguous Space
Consumption Per Household
Consumer Price Index (CPI)
Consumer Behavior
Construction Risk
Construction Loan
Construction Completion Guarantee/Guaranty
Constitutional Documents
Consent Rights
Conduit
Conditions Subsequent
Conditions Precedent
Condemnation
Concessions
Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) or Superfund
Composite
Compliance
Compensation Prepayment Proceeds
Comparables (Comps) or Comparable Sales
Community Development
Community Center
Common parts
Common Area Maintenance (CAM) Charges
Common Area
Commitment period
Commitment fees
Commitment
Commingled Fund
Commercial mortgage-backed securities (CMBS)
Commercial
Collection Loss
Collateralized Mortgage Obligation (CMO)
Collateral Account/Package
Collateral
Co-Investment Program
Co-Investment
Club Deal
Closed End Vehicle
Climate Risk
Claw back
Class C
Class B
Class A
Chain Linking Returns
CFA Institute
Certificate of Occupancy (CO)
Census Tracts
Catch-up
Cash Sweep
Cash management fee third party
Cash Flow Before Tax (CFBT)
Cascading Pledge
Carve-outs (lending)
Carried interest
Carbon trading
Carbon Disclosure Project
Capture Rate
Caps (Interest)
Capitalization-Weighted Index (CWI)
Capitalization (Cap) Rate
Capitalization
Capital Structure
Capital Markets
Capital Market Risk
Capital Market Line (CML)
Capital Gain
Capital expenditures (CAPEX)
Capital expenditure (Capex) Facility
Capital distribution
Capital contribution
Capital commitment
Capital call notice
Capital call
Capital Asset Pricing Model (CAPM)
Capital Allocator
Calibration
B
Business Value
Business Risk
Business Enterprise Value
Business Enterprise
Bullet Repayment
Building water intensity
Building types
Building Standard Plus Allowance
Building Owners and Managers Association (BOMA)
Building Lines
Building GHG intensity
Building energy intensity
Build-to-Suit
Build-Out
Brownfield
Broker-Dealer
Brinson-Hood-Beebower (BHB) Attribution Analysis
Brinson-Fachler (BF) Attribution Analysis
Bridge Loan
Break Costs
Branch Profits Tax
Boundaries
Bottom-Up Investing
Borrowing Base
Borrower sustainability scorecard
Borrower sustainability credentials
Borrower
Blocker or Blocker Corporation
Block Groups (BGs)
Block Group-Based Trade Area
Blind Pool
Bitesize
Beta (β)
Benchmarking
Benchmark Cohort
Benchmark
Before-Tax Internal Rate of Return (BTIRR)
Before-Tax Cash Flow (BTCF)
Base Rent Income
Base Interest
Bank Charges
Bank / loan / overdraft / debt interest
Bad Boy Acts/Carve-Out
B Note (Junior Debt/Loan)
A
Average
Authorised Management Company
Audit costs
Attribution Analysis
Attachment Point LTV
Assignment / Transfer clauses
Assets under Management (AUM)
Asset-weighted composites
Asset-backed securities (ABS)
Asset weighting methodology
Asset weighted
Asset Originator
Asset Manager
Asset management fee
Asset Management Company
Asset Liability Matching (ALM)
Asset Class
Asset Backed Security
Asset Allocation
Assessor
Assessed Value
Assemblage
Asking Rent
As-Is Value
As-Is Condition
Arrears
Arm’s Length Transaction
Arithmetic Mean
ARGUS
Arbitration
Arbitrage
Appreciation
Appraisal Institute
Appraisal
Anti-Dilution Clause/Covenant/Provision
ANREV
Anchor Tenant
Amortizing/Amortization
Amortization Period
American Institute of Certified Public Accountants (AICPA)
Amenities
Alternative Lender
Alternative Investment Vehicle (AIV)
Alternative Investment Risk
Alternative Investment Fund Manager (AIFM)
Alternative Investment Fund (AIF)
Alpha (α)
Allowances
Allocation Policy
Allocation Method
Allocation by Ratio
Allocation by Abstraction
Allocation (in Attribution)
Allocated Loan Amount
All-in Interest Rate
All Appropriate Inquiries
Alignment of Interest
After-Tax Internal Rate of Return (ATIRR)
After-Tax Cash Flow
Affordable Housing
Affiliate Agreement
Advisory Board or Committee
Adjusted Basis
Adjustable-Rate Debt/Loan/Mortgage (ARM)
Additionality
Additional Contingent Interest
ADC Arrangements
Activity and Use Limitation (AUL)
Acquisition-Date Cohort
Acquisition Fee
Acquisition
Accredited Investor
Accounts
Accounting Standards Update (ASU)
Accounting Standards Codification (ASC) 820
Account Pledgor
Absorption or Absorption Rate
Absolute Return Attribution
Absolute energy
A-Note (Senior Debt/Loan)
Q3 2025
Wholly Owned Subsidiary
Whole Loan
Whistleblower
What-If Analysis
Waterfall
Volatility
Visibility
Vertically Integrated Manager
Venture Capital Operating Company (VCOC)
Venture Capital
Variance
Variable Cost or Expense
Value-Weighted Index
Value Creation
Valuation Risk
Valuation Policy
Vacancy Loss
Usury
Usable Area
US Real Property Interest (USRPI)
US Real Property Holding Corporation (USRPHC)
Urban Land Institute (ULI)
Upfit
Unsystematic Risk
Unrelated Business Taxable Income (UBTI)
Unrelated Business Income Tax (UBIT)
Units of Comparison
Undiversifiable Risk
Understored Trading Area
Uncalled Capital Commitment
Umbrella Partnership Real Estate Investment Trust (UPREIT)
Turn Key Project
Truth in Securities Law
Triple Net Lease (NNN)
Treynor Ratio
Transparency
Transferor
Transferee
Traffic Count
Trade Area
Tracking Error
Topography
Top-Down Investing
Tertiary Trade Area
Terrorism Risk
Terminal Value
Terminal Capitalization (Cap) Rate
Term
Tenant Mix
Tenant Improvements
Tenant Improvement Allowance
Tenant Finish Allowance
Tear Sheet
Tax-Exempt Investor
Taxable REIT Subsidiary (TRS)
Tax Shelter
Tax Efficiency
Tax Bracket
Tag-Along Rights
Tactical Investment Decisions
Systemic Risk
Systematic Risk
Supply Risk
Supermajority
Superfund or Comprehensive Environmental Response, Compensation and Liability Act (CERCLA)
Super-Exempt US Investor
Subscription-Backed Credit Facility
Subscription Period
Subordination
Subordinate Debt/Loan/Mortgage
Subadvisor
Style Drift
Strip Center
Strategic Investment Decisions
Step-Up Provision
Stated Rent
Standard Deviation (σ)
Speculative Space
Specified Investing
Specified Asset or Investment
Specific Risk
Specialist Consultant or Consulting Firm
Special Limited Partner
Space Plan
Space Market
Space Absorption
Sovereign Wealth Fund (SWF)
Sophisticated Investor
Solver Function (Excel)
Social Responsibility
Social Investing
Site Plan
Site Development
Site Analysis
Single Real Estate Operating Company (REOC) Fund
Single Asset Deal
Signage
Sidecar Fund or Investment
Shopping Center
Sharpe Ratio
Sensitivity Analysis
Senior Debt/Loan/Mortgage
Selection (in Attribution)
Seed Asset
Security Market Line (SML)
Securitization
Securities Exchange Act (SEA) of 1934
Securities and Exchange Commission (SEC)
Securities Act of 1933
Secured Overnight Financing Rate (SOFR)
Section 892 Exemption
Secondary Trade Area
Secondary Space
Second Generation Space
Scenario Analysis
Savings and Loan Association (S&L)
Saturated Trading Area
Sales Risk
Sales Comparison Approach (SCA)
Sale-Leaseback
Safe Harbor
Rule 144A
Royal Institution of Chartered Surveyors (RICS)
Rollover Risk
Rollover
Risk-Free Rate
Risk-Adjusted Return
Risk-Adjusted Discount Rate
Risk Preferences
Risk Parity
Risk Factor
Right of First Refusal (ROFR)
Right of First Offer (ROFO)
Reward-to-Risk Ratio
Return on Total Capital (ROTC)
Return on Invested Capital (ROIC)
Return on Capital (ROC)
Retrofit
Retail Investor
Resolution Trust Corporation (RTC)
Residual Risk
Residual Capitalization (Cap) Rate
Reserve
Rent-Up Period
Rented Area
Rentable Area
Rent Growth
Rent Concessions
Rent (Rental) Growth
Renewal Option
Remedial Action Plan
Relative Return
Related Party Transaction
Reilly’s Law of Retail Gravitation
Regulation D Offering (Reg D)
Regulation A+ Offering (Reg A+)
Regression Line
Regression Analysis
Registration Statement
Regional Center
Redemption Queue
Redemption Period
Recoveries
Recourse Loan
Reconciliation
Recognized Environmental Condition (REC)
Real Property Interest
Real Estate Operator
Real Estate Market Cycle Risk
Real Estate Market Cycle
Real Estate Investment Trust (REIT)
Rating Agency
Racketeer Influenced and Corrupt Organizations Act (RICO)
Query
Qualified Purchaser
Qualified Plan
Qualified Organization (QO)
Qualified Foreign Pension Fund (QFPF) or Plan (QFPP)
Qualified Client or Investor
Qualified Business Income
Qualified Borrower
Purchasing Power Risk
Purchasing Power
Public Market Equivalent (PME)
Prudent Man Rule
Protecting Americans from Tax Hikes Act of 2015 (PATH Act)
Prospectus
Prospective Value
Property Stacking Plan
Property Level Return
Property Condition Assessment Report
Promote
Prohibited Transaction Safe Harbor
Prohibited Transaction
Programmatic Joint Venture
Profit
Principal Market
Prime Tenant
Prime Space
Primary Trade Area
Pricing Risk
Price Interest Point (PIP)
Preferred Return
Preferred Debt/Loan/Mortgage
Potential Gross Rent
Potential Gross Income (PGI)
Positive Leverage
Portfolio Deal
Pooled Fund
Placement Agent
Physical Obsolescence
Phase III Environmental Site Assessment (ESA)
Phase II Environmental Site Assessment (ESA)
Phase I Environmental Site Assessment (ESA)
Personal Property
Performance Allocation
Percentage In Point (PIP)
Pass-Through Entity
Party-in-Interest Transaction
Party-in-Interest
Parking Ratio
Parking Index
Pari-Passu
Par Value
Overstored Trading Area
Override Fee
Overage Rent
Outsourcing
Outsourced Chief Investment Officer (CIO)
Outliers
Opportunity Cost
Operational Risk
Operating Property
Operating Partner
Operating Expenses
Operating Expense Risk
Occupancy Rate
Numerator
Non-Transferable Debt/Loan/Mortgage
Non-Recourse
Non-Diversifiable Risk
Non-Discretion or Non-Discretionary
Nonconforming Use
Non-Compete Clause/Provision
Non-Amortizing Debt/Loan/Mortgage
Nominal Tax Rate
Nominal Alpha
Neutral Leverage
Net Lease
Net Income
Net Absorption
Nelson Technique
Negative Leverage
Multi-Tenant
Multi-Asset Portfolio
Most Favored Nations Clause (MFN)
Mortgagor
Mortgagee
Mortgage REIT
Moral Hazard
Monte Carlo Simulation
Money-Weighted Rate of Return
Modern Portfolio Theory (MPT)
Mixed-Use
Mixed-Asset Portfolio
Minimum Rent
Metropolitan Statistical Area (MSA)
Median Income
Mean-Variance Analysis
Mean
Master Lease
Marketability Analysis
Market Study
Market Share
Market Segmentation
Market Risk Premium
Market Risk
Market Rent
Market Portfolio
Market Participants
Market Interest Rate
Market Delineation
Market Cycle
Market Area
Market Analysis
Mandate
Management Risk
Management Fee
Lock-Up Period
Lock-Out Period
Locational Obsolescence
Liquidity Risk
Liquidity
Linkage
Line of Credit
Limited Partnership Agreement (LPA)
Limited Partner Withdrawal
Limited Partner Transfer
Limited Partner Excuse
Limited Partner Advisory Council (LPAC)
Limited Liability Company (LLC)
Lifecycle
Liability Driven Investment (LDI)
Leverage Ratio
Lessor
Lessee
Lender
Lendee
Legislative Risk
Leasing Fee
Leasehold Value
Leased Fee Estate
Lease Terms
Lease Expiration Exposure Schedule
Lease Commencement Date
Lease Agreement
Lease
Lead Manager
Landscaping
Land Ratio Method
Lag Vacancy
Know Your Customer (KYC)
Kick-Out Clause/Provision
Junior Debt/Loan/Mortgage
Jensen’s Alpha
Japanese Real Estate Investment Trust (J REIT)
J Curve
Investor Opinion
Investor Letter
Investment Value
Investment Risk
Investment Policy
Investment Management Agreement
Investment Level Return
Investment Guidelines or Limitations
Investment Guidelines
Investment Grade Security
Investment Company Act of 1940
Investment Advisers Act of 1940 (Investment Advisers Act)
Invested Capital
Inventory
International Council of Shopping Centers (ICSC)
Internal Rate of Return (IRR) Breakpoint Analysis
Intermediary
Interim Close
Interest Rate Risk
Interaction (in Attribution)
Intangible Personal Property
Initial Yield
Informational Efficiency
Information Ratio
Inflation Risk
Inflation Hedge
Independent Variable
Indemnity
Inception-Date Cohort
Incentive Fee
Implemented Consulting
Idiosyncratic Risk
Huff’s Law of Shopper Attraction
Household Population
Household
Homogenous or Homogeneous
Hold-Over Tenant
Holding Period
High-Yield Investment
Heat Map
Haircut
Guarantor
Ground Rent
Ground Lease
Gross Sales Area (GSA)
Gross Rent Multiplier (GRM)
Gross Negligence
Gross National Product (GNP)
Gross Lease
Gross Leasable Area (GLA)
Gross Income Multiplier (GIM)
Gross Floor Area (GFA)
Gross Domestic Product (GDP)
Gross Building Area
Great Recession, The
Great Depression, The
Gravity or Gravitational Models
Graduated Lease
Going-In Capitalization (Cap) Rate
Going-Concern Value
Global Financial Crisis (GFC)
Global Endowment Management Implied Private Premium® (GEM IPP)
Glide Path
Giveback Provision
Geometric Mean
Geographic Information System(s) (GIS)
Geographic Core
Geo-Fence
General Consultant or Consulting Firm
Future Proposed Space
Fund Expenses
Functional Obsolescence
Full-Pool Carry (Waterfall)
Full Service Rent
Full Service Lease
Full Recourse Guarantee
Frontage
Frictional Vacancy
Fractions Rule
Four Quadrants
Foundation
Forward Commitment
Foreign Investment in Real Property Tax Act of 1980 (FIRPTA)
Foreign Corrupt Practices Act (FCPA)
Force Majeure
Follow-On Investment
Floor Area Ratio (FAR)
Flat Fee
Fixture
Fixed or Determinable Annual or Periodical Income (FDAP)
Fixed Cost or Expense
First-Time Fund
First-Close Investor
First Loss (Equity) Position
First Generation Space
Financial Risk
Financial Institutions Reform, Recovery and Enforcement Act (FIRREA)
Financial Industry Regulatory Authority (FINRA)
Finance, Insurance, and Real Estate (FIRE)
Fiduciary Self-Dealing Transactions
Fiduciary
Fee Spread (in Percent)
Fee Simple Value
Fee Sharing (in Dollars)
Fee Loss (in Percent)
Fee Loss (in Dollars)
Fee Leakage
Fee Drag
Face Rent
Facade
Externality
Extension
Expense Stop
Expense Reimbursements
Expense Ratio
Expense Policy
Exit Capitalization (Cap) Rate
Execution Risk
Exclusivity Right
Exclusion Clause/Provision
Exchange Rate Risk
Excess Return
Event Risk
Escheat
ERISA Limited Partner
ERISA Fund
ERISA
Equity Yield or Equity Yield Rate
Equity Method
Equity Capitalization (Cap) Rate
Equilibrium Vacancy
Equilibrium
Equal-Weighted Index
Environmental, Social and Governance (ESG) Criteria
Environmental Risk
Environmental Protection Agency (EPA)
Environmental Indemnity Agreement
Environmental Assessment
Entity Investing
Entitlement Risk
Entitlement
Enterprise Zone
Endowment
Encumbrance
Employee Retirement Income Security Act of 1974 (ERISA)
Emerging Manager
Elasticity
Egress
Efficient Frontier
Efficiency Ratio
Effectively Connected Income (ECI)
Effectively Connected Earnings and Profits
Effective Yield
Effective Tax Rate
Effective Rent
Effective Practical Control (of Section 892)
Effective Ownership Share
Effective Gross Income (EGI)
Effective Buying Income (EBI)
Effective Age
Economic Regime
Economic Ownership
Economic Obsolescence
Economic Life
Economic Feasibility
Easement
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
Due-on-Transfer Clause
Due-on-Sale Clause
Due Diligence Questionnaire (DDQ)
Dry Powder
Drive Time-Based Trade Area
Drawdown
Drag-Along Rights
DOWNREIT
Dollar-Weighted Rate of Return
Dividend Equivalent Amount
Diversifiable Risk
Distribution Waterfall
Distressed Asset
Disposition Fee
Discretion or Discretionary Account
Discounted Cash Flow (DCF)
Discount Rate
Direct Investment
Direct Alpha
Dilution
Developer Profit
Design/Amenity Attributes
Derivative Security
Dependent Variable
Denominator
Demand Driver
Delivered
Delinquency Rate
Defined Contribution Pension Plan
Defined Benefit Pension Plan
Deferred Maintenance
Defaulting Investor
Deal-by-Deal Carry (Waterfall)
Deadlock Provision
Dark Space
Customer Spotting Technique
Current Occupancy
Current Expected Credit Losses (CECL)
Currency Risk
Cure Period
Cross-Over Demand
Credit Tenant
Credit Risk
Credit Facility
Covenant
Covariance
Country Risk
Counter Party Risk
Cost Index
Correlation Coefficient ( )
Correlation
Corporate Housing
Corporate Blocker
Core-Based Statistical Area (CBSA)
Core Plus
Convertible Preferred Stock
Convertible Debt/Loan/Mortgage
Convertible Debt
Controlled Commercial Entity (of Section 892)
Contributory Value
Contract Rent
Continuous Operations Clause
Contiguous Space
Consumption Per Household
Consumer Price Index (CPI)
Consumer Behavior
Construction Risk
Construction Completion Guarantee/Guaranty
Consent Rights
Conduit
Condemnation
Concessions
Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) or Superfund
Compliance
Comparables (Comps) or Comparable Sales
Common Area Maintenance (CAM) Charges
Common Area
Commercial
Collection Loss
Collateralized Mortgage Obligation (CMO)
Collateral Account/Package
Collateral
Co-Investment Program
Co-Investment
Class C
Class B
Class A
Chain Linking Returns
Certificate of Occupancy (CO)
Census Tracts
Cash Flow Before Tax (CFBT)
Cascading Pledge
Capture Rate
Capitalization-Weighted Index (CWI)
Capitalization (Cap) Rate
Capitalization
Capital Markets
Capital Market Risk
Capital Market Line (CML)
Capital Gain
Capital Asset Pricing Model (CAPM)
Capital Allocator
Calibration
Business Value
Business Risk
Business Enterprise Value
Business Enterprise
Build-to-Suit
Build-Out
Building Standard Plus Allowance
Building Owners and Managers Association (BOMA)
Building Lines
Broker-Dealer
Brinson-Hood-Beebower (BHB) Attribution Analysis
Brinson-Fachler (BF) Attribution Analysis
Branch Profits Tax
Bottom-Up Investing
Borrowing Base
Blocker or Blocker Corporation
Block Groups (BGs)
Block Group-Based Trade Area
Blind Pool
Bitesize
Beta (β)
Benchmarking
Benchmark Cohort
Before-Tax Internal Rate of Return (BTIRR)
Before-Tax Cash Flow (BTCF)
Bad Boy Acts/Carve-Out
B Note (Junior Debt/Loan)
Average
Attribution Analysis
Asset Class
Asset Backed Security
Asset Allocation
Assessor
Assessed Value
Assemblage
Asking Rent
As-Is Value
Arithmetic Mean
As-Is Condition
Arrears
Arm’s Length Transaction
ARGUS
Arbitration
Arbitrage
Appraisal Institute
Appraisal
Anti-Dilution Clause/Covenant/Provision
A-Note (Senior Debt/Loan)
Anchor Tenant
Amortizing/Amortization
American Institute of Certified Public Accountants (AICPA)
Amenities
Alternative Lender
Alternative Investment Vehicle (AIV)
Alternative Investment Risk
Alpha (α)
Allowances
Allocation Policy
Allocation Method
Allocation by Ratio
Allocation by Abstraction
Allocation (in Attribution)
All Appropriate Inquiries
Alignment of Interest
After-Tax Internal Rate of Return (ATIRR)
After-Tax Cash Flow
Affiliate Agreement
Advisory Board or Committee
Adjusted Basis
Adjustable-Rate Debt/Loan/Mortgage (ARM)
Activity and Use Limitation (AUL)
Acquisition-Date Cohort
Acquisition Fee
Accredited Investor
Accounts
Accounting Standards Codification (ASC) 820
Account Pledgor
Absorption or Absorption Rate
Absolute Return Attribution
704(b) Regulations
509(a) Nonprofit Organizations
501(c)(3) Nonprofit Organization
401(a) Pension Plan
1031 Exchange
Q2 2025
Total returned capital recalled
Total return of capital
Return of capital
Remaining capital commitment
Currency exposure
Net Debt Yield
Q4 2024
Effective Share
Gross operating income
Current development exposure as percentage of Gross Asset Value (GAV)
Property Loan to Value (LTV)
Vehicle Loan to Value (LTV)
Gross property value
Commitment
Unrealised (capital) gain / loss
Realised (capital) gain/ loss
Q4 2023
Vintage Year
Redemption Queuing Mechanism
Subscription queuing mechanism
Q3 2023
Recallable Capital
Unfunded Commitment
Outstanding Capital Commitment
Redemption Cap
Q2 2023
Private Placement Memorandum (PPM)
Lock-up Period
Lock-up
Income distribution
Capital distribution
Operational Real Estate
Common parts
Floor area
Mandatory disclosure requirements
HVAC
Building types
Persons
Building energy intensity
Absolute energy
District heating and cooling
Renewable energy
Greenhouse gas (GHG) emissions
Carbon Disclosure Project
Boundaries
Financial control
Operational control
Equity-share
Building GHG intensity
Total indirect GHG emissions
Fugitive emissions
Building water intensity
Waste by disposal route
Feed-in-Tariffs
Carbon trading
Social Impact
Affordable Housing
Intentionality
Additionality
Impact Investing
Impact investing metrics
Sustainable Development Goals (SDG)
Impact Measurement & Management
Community Development
Job creation
Economic Development
Financial Inclusion
Underserved population
Climate Risk
Physical Risk
Transition Risk
Q1 2023
Assets under Management (AUM)
Side Letter
Capital contribution
Capital commitment
Capital call notice
Capital call
Q4 2022
Hurdle Rate
Catch-up
Q2 2022
Capital Structure
London Interbank Offered Rate (LIBOR)
Hold Period
Key person clause
Residential Mortgage-Backed Securities (RMBS)
Prepayment
Q4 2021
Constitutional Documents
Corporate Governance
Sustainable Investment
Diversity, Equity and Inclusion (DEI)
Environment, Social and Governance (ESG)
Net Zero Carbon Building
Sustainability
Q2 2021
Strategy-Account Vehicle
Commitment period
Funds of funds
Multi manager
Master Vehicle
Parallel Vehicle
Feeder Vehicle
Q1 2021
Holding Company
Brownfield
Greenfield
Indexed Rent
Contingent Rent
Stabilisation
Repositioning
Financial Accounting Standards Board (FASB)
Fair Value Generally Accepted Accounting Principles (FV GAAP)
Generally Accepted Accounting Principles (GAAP)
Governmental Accounting Standards Board (GASB)
Stepped Rent
Standing investment
Renovation
Redevelopment
Predevelopment
Development
Q1 2020
Repayment
Non-Performing Loan (NPL)
Transaction Obligor
Syndicated Loan
Step in Rights
Outstanding Principal Balance
Outstanding Portfolio Balance
Transaction Document
Subordinated Loan
Subordinated Creditor's Security Agreement
Subordinated Creditor
Subordination Agreement
Standalone Sustainable Lending Policy
Senior Loan
Sponsor
Spens Clause
Security
Security Agent
Securitized Loan
Q4 2019
Asset Management Company
Q3 2019
Second Mortgage
Recovery Payment Proceeds
Public/Private Partnership (PPP)
Property Protection Loan
Private Placement
Prepayment Fees
Payment in Kind (PIK) interest/ Accrued Interest
Permitted Payment
Participated Loan
Conditions Precedent
Compensation Prepayment Proceeds
Obligor
Margin
Make-Whole Provision
Make-Whole Margin
Sustainability scorecard
Junior Debt
Capital expenditure (Capex) Facility
Interest reserve account
Interest Rate
Interest Period
Interest Payment Date (IPD)
Information Covenants
Historical Interest Cover Ratio (Historical ICR)
Flexibility for alternative use
Fixed and floating charges over assets
First Ranking Mortgage
Facility Agent
Disposals Account
Discount margin
Development Facility
Deposit Account
Debt Yield
Debt Fund
Debt Vehicle
Debenture
Cure Rights
Conditions Subsequent
Commercial mortgage-backed securities (CMBS)
Cash Sweep
Bullet Repayment
Break Costs
Borrower sustainability credentials
Borrower sustainability scorecard
Attachment Point LTV
Assignment / Transfer clauses
Asset-backed securities (ABS)
Syndicated loan purchaser
Asset Originator
Asset Liability Matching (ALM)
Loan Amortisation
Allocated Loan Amount
All-in Interest Rate
Event of Default (EOD)
Borrower
Over the Counter (OTC)
Minimum Capital Requirement (MCR)
Mezzanine Debt
Material Adverse Effect
Mark-to-Market
Investment margin (Spread)
Internal Ratings-Based Approach (IRB)
Intercreditor Agreement
Insurance Prepayment Proceeds
High Quality Liquid Assets (HQLA)
Liquidity Coverage Ratio (LCR)
Hedging Arrangement/Agreement
Fixed Rate Recourse Debt
Financial Covenants
Exit LTV
Excluded Recovery Proceeds
Euro Interbank Offered Rate (EURIBOR)
Duty of Care Agreement
Development Margin
Default Covenant
Credit Rating
Credit Default Swap (CDS)
Credit Committee
Set-up costs
Q2 2019
Wealth taxes
Related parties
Trustee Costs
Segregated Account
Disposition
Expansion
Financing fee
Q2 2018
Transaction offsets
Distribution fee
Claw back
Q1 2018
Subscription fee
Staff costs
Securities handling charges
Redemption fees
Property-related taxes
Placement agent costs
Fee waivers
Fee reductions/rebates
Development fee
Deferred taxes
Debt arrangement fee
Debt arrangement costs
Commitment fees
Capital expenditures (CAPEX)
Q2 2017
Core (INREV Style)
Property Management Company
Limited Liability Company
Investment Company
Authorised Management Company
Registered Investment Advisor (RIA)
Special Purpose Vehicle (SPV)
Property Company
Alternative Investment Fund (AIF)
Alternative Investment Fund Manager (AIFM)
Investment Management Company
Mortgage Company
Financing Company
General Partner (GP)
Limited Partner
Partnership
Limited Liability Partnership (LLP)
Limited Partnership (LP)
Loan Term
Loan Amortization Period
Loan Lockout Period
Base Rent Income
Reimbursement Income
Lease Area
High-rise Elevator Apartments
Low-rise Apartments
Garden-type Apartments
Flex Space (industrial)
Research and Development (industrial)
Warehouse (industrial)
Manufacturing facility (industrial)
Office Showroom
Neighborhood Center (retail)
Community Center
Regional Mall
Super-Regional Mall
Fashion / Specialty Center
Power Center
Theme / Festival Center
Outlet Center
Self-Storage (facility)
Senior Living (facility)
Gross Sales Price
Net Sale Price
Market Vacancy
Amortization Period
Q1 2017
Inception date
Q4 2016
Vehicle Documentation
Acquisition
Refurbishment
Property Conversion
Q3 2016
Initial Closing
Dividend Payment
Distributions
Redemption
Vehicle Formation Date
Subscription Agreement
Termination Date
Wind-up fee
Vehicle administration costs
Vehicle formation costs
Vehicle Manager
Valuation costs
Vehicle
Uniform Standards of Professional Appraisal Practice (USPAP)
Utilities, repair and maintenance costs (non-rechargeable portion)
Taxes on property related activities
Termination Clause
Transfer agent costs
Investment Advisor
Style
Accounting Standards Update (ASU)
Single Account
Single Client Account
Start of Investment Period
Secondary Trade
Total direct GHG emissions
Reporting standards - handbook volume I and II
Regulatory / Statutory costs
Property management costs
Property Management Fee
Property Manager
Property disposition fee
Property insurance costs
Discretion
Property acquisition fee
Property
Property acquisition costs
Project management costs
Project management fee (excl. development activities)
Pooled Trusts
Professional services costs
Performance fee
Planned Liquidation Date
Other/misc. vehicle costs
Pension Real Estate Association (PREA)
Marketing costs
National Council of Real Estate Investment Fiduciaries (NCREIF)
Open End Vehicle
Legal fees (Not property specific)
Life Insurance Separate Account
Investment Manager
Investment Period
Joint Venture
Investee
Investment
INREV
INREV Guidelines
Internal leasing commissions
International Financial Reporting Standards (IFRS)
International Valuation Standards Council (IVSC)
Fund Manager
Global Investment Performance Standards (GIPS®)
Fund
Fund management fee
External leasing commissions
Final closing
Emerging Issues Task Force (EITF)
End of Investment Period
Property disposition costs
Custodian costs
Dead deal costs
Composite
Closed End Vehicle
Club Deal
Carried interest
Cash management fee third party
Bank / loan / overdraft / debt interest
Bank Charges
Asset management fee
Asset Manager
Audit costs
ANREV
CFA Institute
Valuation
Reversionary income
Reversionary yield
Market Approach (valuation technique)
Market Value
Replacement Costs
Income Approach (valuation technique)
Internal valuation
Appreciation
Cost Approach (valuation technique)
Highest and Best Use
Vacancy (Based on estimated rental value)
Vacancy (Based on leasable floor space)
Operational results
Percentage Rent
Offer price
Initial Leasing
Estimated Rental Value (ERV)
Cost of development portfolio
Weighted Average Remaining term of Fixed Rate Fund T1 leverage
Weighted Average Remaining term of Floating Rate Fund T1 leverage
Weighted average cost of debt excluding shareholder loans
Weighted Average interest rate of Fund T1 leverage
Weighted average maturity of debt excluding shareholder loans (Years)
Vehicle-level loan to value
Weighted average cost of debt
TIF Notes
Total debt maturities
Vehicle-level loan to cost
Subscription secured credit facilities
Surety Bond
Recourse Debt
Restrictions on transfer
Performance Bond
Prepayment Penalty
Property-level loan to value
Number of new / renewed loans
Participating mortgage
Nominal value of debt excluding shareholder loans
Non-participating mortgage loan
Non-Recourse Debt
Maturity Date
Maximum LTV
Loan to Cost (LTC)
Loan to equity
Leverage Percentage
Loan Covenants
Letter of credit (LOC)
Leverage
Leverage Limits
Portfolio Interest Service Coverage Ratio
Industrial Revenue Bonds
Interest rate hedging ratio
Interest Rate Swaps
Hedged %
hedging instruments
Fixed Rate Debt
Floating Rate Debt
Guarantee
Debt Service Coverage Ratio - DSCR (INREV)
Debt Service Coverage Ratio - DSCR (RS)
Credit enhancements
Cross Collateralization
Debt Interest
Contractual Interest
Contractual Principal
Construction Loan
Contingent Interest
Contingent liabilities
Bridge Loan
Caps (Interest)
Carve-outs (lending)
Base Interest
ADC Arrangements
Additional Contingent Interest
Statement of Position (SOP) (accounting)
Non-Controlling Equity Interests (Minority Interest)
Other net income
Net investment income-Operating Model
Net Operating Income (NOI)
Free Rent
Fair Value Option
Foreign exchange difference
Fair Value Net Asset Value (FV NAV)
Fair value of investment portfolio
Fair value of vehicle according to INREV guidelines
Fair value (IFRS definition)
Costs of Sale
Fair Value
Fair Value (GIPS, Appraisal Institute)
Controlling Equity Interest
Time-Weighted Return (TWR), property level
Total return (net and unlevered)
Total return net to investor
Time-Weighted Return (TWR) (Fund Level)
Time-Weighted Return (TWR), investment level
Residual value to paid-in capital multiple (RVPI)
ROI (Return on Investment)
Time-Weighted Return (TWR)
Residual multiple
Residual value
Partial Period (for TWR purposes)
Performance Attribution
Realization Multiple
NOI yield
Paid in capital
Net financing cost
Net Initial Yield (NIY)
Net return
Modified Dietz
Net equivalent yield
Internal Rate of Return-starting from inception to end-projected-gross
Internal Rate of Return-starting from inception to end-projected-net
Investment multiple
Internal Rate of Return-since inception gross of fees
Internal Rate of Return-since inception net
Internal Rate of Return-net
Internal Rate of Return-original and projected
Internal Rate of Return-realized (Gross) vehicle
Internal Rate of Return - IRR (RS)
Internal Rate of Return-gross
Income return
Internal Rate of Return - IRR (INREV)
Gross return
Gross equity multiple of vehicle realized
Gross initial yield
Gross property return
Equity multiple- gross, projected
Equity multiple-net, projected
Geometrically linked TWR
Equity multiple (Gross)
Equity multiple (Net)
Distribution-dividend yield
Distributions to paid-in capital (DPI) multiple
Benchmark
Cumulative TWR returns
Total Expense Ratio (TER)
Real Estate Expense Ratio (REER)
Exempt fees and costs
Waterfall calculation
Weighted average lease expiry
Void rate
Waterfall Analysis
Value-added (INREV Style)
Value-added (RS Style)
Total Value to paid in capital multiple (TVPI)
Total capital drawn down
Total current outstanding capital
Total capital commitment drawn
Total capital commitments (By all investors)
Target return derived from income
Tax effect of the adjustments
Target percentage non-income producing investments
Target percentage of (re)development exposure
Paid in capital to committed capital multiple
Percentage of total capital commitments invested
Number of assets
Paid in Capital Multiple
Net Asset Value - NAV (RS)
Non-controlling effects on the INREV NAV adjustments
Net Asset Value - NAV (INREV)
Inception date (Fund)
Gross asset value of vehicle (Including pro rata share in joint ventures)
Gross Assets (for fund leverage measures)
End of maximum extendable vehicle term
Economic Share
Commingled Fund
Asset-weighted composites
Asset weighted
Asset weighting methodology
Style-Fund
SFAS
Separate Accounts
Required standard
Opportunistic (INREV Style)
Operating Model
Opportunistic (RS Style)
Non-Operating Model
Investment level
Fund /Account(s)
Foundational Standards
Fair Value Accounting Policy Manual
Core (RS Style)
Q3 2016
Core (RS Style)
Fair Value Accounting Policy Manual
Foundational Standards
Fund /Account(s)
Investment level
Non-Operating Model
Opportunistic (RS Style)
Operating Model
Opportunistic (INREV Style)
Required standard
Separate Accounts
SFAS
Style-Fund
Asset weighting methodology
Asset weighted
Asset-weighted composites
Commingled Fund
Economic Share
End of maximum extendable vehicle term
Gross Assets (for fund leverage measures)
Gross asset value of vehicle (Including pro rata share in joint ventures)
Inception date (Fund)
Net Asset Value - NAV (INREV)
Non-controlling effects on the INREV NAV adjustments
Net Asset Value - NAV (RS)
Paid in Capital Multiple
Number of assets
Percentage of total capital commitments invested
Paid in capital to committed capital multiple
Target percentage of (re)development exposure
Target percentage non-income producing investments
Tax effect of the adjustments
Target return derived from income
Total capital commitments (By all investors)
Total capital commitment drawn
Total current outstanding capital
Total capital drawn down
Total Value to paid in capital multiple (TVPI)
Value-added (RS Style)
Value-added (INREV Style)
Waterfall Analysis
Void rate
Weighted average lease expiry
Waterfall calculation
Exempt fees and costs
Real Estate Expense Ratio (REER)
Total Expense Ratio (TER)
Cumulative TWR returns
Benchmark
Distributions to paid-in capital (DPI) multiple
Distribution-dividend yield
Equity multiple (Net)
Equity multiple (Gross)
Geometrically linked TWR
Equity multiple-net, projected
Equity multiple- gross, projected
Gross property return
Gross initial yield
Gross equity multiple of vehicle realized
Gross return
Internal Rate of Return - IRR (INREV)
Income return
Internal Rate of Return-gross
Internal Rate of Return - IRR (RS)
Internal Rate of Return-realized (Gross) vehicle
Internal Rate of Return-original and projected
Internal Rate of Return-net
Internal Rate of Return-since inception net
Internal Rate of Return-since inception gross of fees
Investment multiple
Internal Rate of Return-starting from inception to end-projected-net
Internal Rate of Return-starting from inception to end-projected-gross
Net equivalent yield
Modified Dietz
Net return
Net Initial Yield (NIY)
Net financing cost
Paid in capital
NOI yield
Realization Multiple
Performance Attribution
Partial Period (for TWR purposes)
Residual value
Residual multiple
Time-Weighted Return (TWR)
ROI (Return on Investment)
Residual value to paid-in capital multiple (RVPI)
Time-Weighted Return (TWR), investment level
Time-Weighted Return (TWR) (Fund Level)
Total return net to investor
Total return (net and unlevered)
Time-Weighted Return (TWR), property level
Controlling Equity Interest
Fair Value (GIPS, Appraisal Institute)
Fair Value
Costs of Sale
Fair value (IFRS definition)
Fair value of vehicle according to INREV guidelines
Fair value of investment portfolio
Fair Value Net Asset Value (FV NAV)
Foreign exchange difference
Fair Value Option
Free Rent
Net Operating Income (NOI)
Net investment income-Operating Model
Other net income
Non-Controlling Equity Interests (Minority Interest)
Statement of Position (SOP) (accounting)
Additional Contingent Interest
ADC Arrangements
Base Interest
Carve-outs (lending)
Caps (Interest)
Bridge Loan
Contingent liabilities
Contingent Interest
Construction Loan
Contractual Principal
Contractual Interest
Debt Interest
Cross Collateralization
Credit enhancements
Debt Service Coverage Ratio - DSCR (RS)
Debt Service Coverage Ratio - DSCR (INREV)
Guarantee
Floating Rate Debt
Fixed Rate Debt
hedging instruments
Hedged %
Interest Rate Swaps
Interest rate hedging ratio
Industrial Revenue Bonds
Portfolio Interest Service Coverage Ratio
Leverage Limits
Leverage
Letter of credit (LOC)
Loan Covenants
Leverage Percentage
Loan to equity
Loan to Cost (LTC)
Maximum LTV
Maturity Date
Non-Recourse Debt
Non-participating mortgage loan
Nominal value of debt excluding shareholder loans
Participating mortgage
Number of new / renewed loans
Property-level loan to value
Prepayment Penalty
Performance Bond
Restrictions on transfer
Recourse Debt
Surety Bond
Subscription secured credit facilities
Vehicle-level loan to cost
Total debt maturities
TIF Notes
Weighted average cost of debt
Vehicle-level loan to value
Weighted average maturity of debt excluding shareholder loans (Years)
Weighted Average interest rate of Fund T1 leverage
Weighted average cost of debt excluding shareholder loans
Weighted Average Remaining term of Floating Rate Fund T1 leverage
Weighted Average Remaining term of Fixed Rate Fund T1 leverage
Cost of development portfolio
Estimated Rental Value (ERV)
Initial Leasing
Offer price
Percentage Rent
Operational results
Vacancy (Based on leasable floor space)
Vacancy (Based on estimated rental value)
Highest and Best Use
Cost Approach (valuation technique)
Appreciation
Internal valuation
Income Approach (valuation technique)
Replacement Costs
Market Value
Market Approach (valuation technique)
Reversionary yield
Reversionary income
Valuation
CFA Institute
ANREV
Audit costs
Asset Manager
Asset management fee
Bank Charges
Bank / loan / overdraft / debt interest
Cash management fee third party
Carried interest
Club Deal
Closed End Vehicle
Composite
Dead deal costs
Custodian costs
Property disposition costs
End of Investment Period
Emerging Issues Task Force (EITF)
Final closing
External leasing commissions
Fund management fee
Fund
Global Investment Performance Standards (GIPS®)
Fund Manager
International Valuation Standards Council (IVSC)
International Financial Reporting Standards (IFRS)
Internal leasing commissions
INREV Guidelines
INREV
Investment
Investee
Joint Venture
Investment Period
Investment Manager
Life Insurance Separate Account
Legal fees (Not property specific)
Open End Vehicle
National Council of Real Estate Investment Fiduciaries (NCREIF)
Marketing costs
Pension Real Estate Association (PREA)
Other/misc. vehicle costs
Planned Liquidation Date
Performance fee
Professional services costs
Pooled Trusts
Project management fee (excl. development activities)
Project management costs
Property acquisition costs
Property
Property acquisition fee
Discretion
Property insurance costs
Property disposition fee
Property Manager
Property Management Fee
Property management costs
Regulatory / Statutory costs
Reporting standards - handbook volume I and II
Total direct GHG emissions
Secondary Trade
Start of Investment Period
Single Client Account
Single Account
Accounting Standards Update (ASU)
Style
Investment Advisor
Transfer agent costs
Termination Clause
Taxes on property related activities
Utilities, repair and maintenance costs (non-rechargeable portion)
Uniform Standards of Professional Appraisal Practice (USPAP)
Vehicle
Valuation costs
Vehicle Manager
Vehicle formation costs
Vehicle administration costs
Wind-up fee
Termination Date
Subscription Agreement
Vehicle Formation Date
Redemption
Distributions
Dividend Payment
Initial Closing
Q4 2016
Property Conversion
Refurbishment
Acquisition
Vehicle Documentation
Q1 2017
Inception date
Q2 2017
Amortization Period
Market Vacancy
Net Sale Price
Gross Sales Price
Senior Living (facility)
Self-Storage (facility)
Outlet Center
Theme / Festival Center
Power Center
Fashion / Specialty Center
Super-Regional Mall
Regional Mall
Community Center
Neighborhood Center (retail)
Office Showroom
Manufacturing facility (industrial)
Warehouse (industrial)
Research and Development (industrial)
Flex Space (industrial)
Garden-type Apartments
Low-rise Apartments
High-rise Elevator Apartments
Lease Area
Reimbursement Income
Base Rent Income
Loan Lockout Period
Loan Amortization Period
Loan Term
Limited Partnership (LP)
Limited Liability Partnership (LLP)
Partnership
Limited Partner
General Partner (GP)
Financing Company
Mortgage Company
Investment Management Company
Alternative Investment Fund Manager (AIFM)
Alternative Investment Fund (AIF)
Property Company
Special Purpose Vehicle (SPV)
Registered Investment Advisor (RIA)
Authorised Management Company
Investment Company
Limited Liability Company
Property Management Company
Core (INREV Style)
Q1 2018
Capital expenditures (CAPEX)
Commitment fees
Debt arrangement costs
Debt arrangement fee
Deferred taxes
Development fee
Fee reductions/rebates
Fee waivers
Placement agent costs
Property-related taxes
Redemption fees
Securities handling charges
Staff costs
Subscription fee
Q2 2018
Claw back
Distribution fee
Transaction offsets
Q2 2019
Financing fee
Expansion
Disposition
Segregated Account
Trustee Costs
Related parties
Wealth taxes
Q3 2019
Set-up costs
Credit Committee
Credit Default Swap (CDS)
Credit Rating
Default Covenant
Development Margin
Duty of Care Agreement
Euro Interbank Offered Rate (EURIBOR)
Excluded Recovery Proceeds
Exit LTV
Financial Covenants
Fixed Rate Recourse Debt
Hedging Arrangement/Agreement
Liquidity Coverage Ratio (LCR)
High Quality Liquid Assets (HQLA)
Insurance Prepayment Proceeds
Intercreditor Agreement
Internal Ratings-Based Approach (IRB)
Investment margin (Spread)
Mark-to-Market
Material Adverse Effect
Mezzanine Debt
Minimum Capital Requirement (MCR)
Over the Counter (OTC)
Borrower
Event of Default (EOD)
All-in Interest Rate
Allocated Loan Amount
Loan Amortisation
Asset Liability Matching (ALM)
Asset Originator
Syndicated loan purchaser
Asset-backed securities (ABS)
Assignment / Transfer clauses
Attachment Point LTV
Borrower sustainability scorecard
Borrower sustainability credentials
Break Costs
Bullet Repayment
Cash Sweep
Commercial mortgage-backed securities (CMBS)
Conditions Subsequent
Cure Rights
Debenture
Debt Vehicle
Debt Fund
Debt Yield
Deposit Account
Development Facility
Discount margin
Disposals Account
Facility Agent
First Ranking Mortgage
Fixed and floating charges over assets
Flexibility for alternative use
Historical Interest Cover Ratio (Historical ICR)
Information Covenants
Interest Payment Date (IPD)
Interest Period
Interest Rate
Interest reserve account
Capital expenditure (Capex) Facility
Junior Debt
Sustainability scorecard
Make-Whole Margin
Make-Whole Provision
Margin
Obligor
Compensation Prepayment Proceeds
Conditions Precedent
Participated Loan
Permitted Payment
Payment in Kind (PIK) interest/ Accrued Interest
Prepayment Fees
Private Placement
Property Protection Loan
Public/Private Partnership (PPP)
Recovery Payment Proceeds
Second Mortgage
Q4 2019
Asset Management Company
Q1 2020
Securitized Loan
Security Agent
Security
Spens Clause
Sponsor
Senior Loan
Standalone Sustainable Lending Policy
Subordination Agreement
Subordinated Creditor
Subordinated Creditor's Security Agreement
Subordinated Loan
Transaction Document
Outstanding Portfolio Balance
Outstanding Principal Balance
Step in Rights
Syndicated Loan
Transaction Obligor
Non-Performing Loan (NPL)
Repayment
Q1 2021
Development
Predevelopment
Redevelopment
Renovation
Standing investment
Stepped Rent
Governmental Accounting Standards Board (GASB)
Generally Accepted Accounting Principles (GAAP)
Fair Value Generally Accepted Accounting Principles (FV GAAP)
Financial Accounting Standards Board (FASB)
Repositioning
Stabilisation
Contingent Rent
Indexed Rent
Greenfield
Brownfield
Holding Company
Q2 2021
Feeder Vehicle
Parallel Vehicle
Master Vehicle
Multi manager
Funds of funds
Commitment period
Strategy-Account Vehicle
Q4 2021
Sustainability
Net Zero Carbon Building
Environment, Social and Governance (ESG)
Diversity, Equity and Inclusion (DEI)
Sustainable Investment
Corporate Governance
Constitutional Documents
Q2 2022
Prepayment
Residential Mortgage-Backed Securities (RMBS)
Key person clause
Hold Period
London Interbank Offered Rate (LIBOR)
Capital Structure
Q4 2022
Catch-up
Hurdle Rate
Q1 2023
Capital call
Capital call notice
Capital commitment
Capital contribution
Side Letter
Assets under Management (AUM)
Q2 2023
Transition Risk
Physical Risk
Climate Risk
Underserved population
Financial Inclusion
Economic Development
Job creation
Community Development
Impact Measurement & Management
Sustainable Development Goals (SDG)
Impact investing metrics
Impact Investing
Additionality
Intentionality
Affordable Housing
Social Impact
Carbon trading
Feed-in-Tariffs
Waste by disposal route
Building water intensity
Fugitive emissions
Total indirect GHG emissions
Building GHG intensity
Equity-share
Operational control
Financial control
Boundaries
Carbon Disclosure Project
Greenhouse gas (GHG) emissions
Renewable energy
District heating and cooling
Absolute energy
Building energy intensity
Persons
Building types
HVAC
Mandatory disclosure requirements
Floor area
Common parts
Operational Real Estate
Capital distribution
Income distribution
Lock-up
Lock-up Period
Private Placement Memorandum (PPM)
Q3 2023
Redemption Cap
Outstanding Capital Commitment
Unfunded Commitment
Recallable Capital
Q4 2023
Subscription queuing mechanism
Redemption Queuing Mechanism
Vintage Year
Q4 2024
Realised (capital) gain/ loss
Unrealised (capital) gain / loss
Commitment
Gross property value
Vehicle Loan to Value (LTV)
Property Loan to Value (LTV)
Current development exposure as percentage of Gross Asset Value (GAV)
Gross operating income
Effective Share
Q2 2025
Net Debt Yield
Currency exposure
Remaining capital commitment
Return of capital
Total return of capital
Total returned capital recalled
Q3 2025
1031 Exchange
401(a) Pension Plan
501(c)(3) Nonprofit Organization
509(a) Nonprofit Organizations
704(b) Regulations
Absolute Return Attribution
Absorption or Absorption Rate
Account Pledgor
Accounting Standards Codification (ASC) 820
Accounts
Accredited Investor
Acquisition Fee
Acquisition-Date Cohort
Activity and Use Limitation (AUL)
Adjustable-Rate Debt/Loan/Mortgage (ARM)
Adjusted Basis
Advisory Board or Committee
Affiliate Agreement
After-Tax Cash Flow
After-Tax Internal Rate of Return (ATIRR)
Alignment of Interest
All Appropriate Inquiries
Allocation (in Attribution)
Allocation by Abstraction
Allocation by Ratio
Allocation Method
Allocation Policy
Allowances
Alpha (α)
Alternative Investment Risk
Alternative Investment Vehicle (AIV)
Alternative Lender
Amenities
American Institute of Certified Public Accountants (AICPA)
Amortizing/Amortization
Anchor Tenant
A-Note (Senior Debt/Loan)
Anti-Dilution Clause/Covenant/Provision
Appraisal
Appraisal Institute
Arbitrage
Arbitration
ARGUS
Arm’s Length Transaction
Arrears
As-Is Condition
Arithmetic Mean
As-Is Value
Asking Rent
Assemblage
Assessed Value
Assessor
Asset Allocation
Asset Backed Security
Asset Class
Attribution Analysis
Average
B Note (Junior Debt/Loan)
Bad Boy Acts/Carve-Out
Before-Tax Cash Flow (BTCF)
Before-Tax Internal Rate of Return (BTIRR)
Benchmark Cohort
Benchmarking
Beta (β)
Bitesize
Blind Pool
Block Group-Based Trade Area
Block Groups (BGs)
Blocker or Blocker Corporation
Borrowing Base
Bottom-Up Investing
Branch Profits Tax
Brinson-Fachler (BF) Attribution Analysis
Brinson-Hood-Beebower (BHB) Attribution Analysis
Broker-Dealer
Building Lines
Building Owners and Managers Association (BOMA)
Building Standard Plus Allowance
Build-Out
Build-to-Suit
Business Enterprise
Business Enterprise Value
Business Risk
Business Value
Calibration
Capital Allocator
Capital Asset Pricing Model (CAPM)
Capital Gain
Capital Market Line (CML)
Capital Market Risk
Capital Markets
Capitalization
Capitalization (Cap) Rate
Capitalization-Weighted Index (CWI)
Capture Rate
Cascading Pledge
Cash Flow Before Tax (CFBT)
Census Tracts
Certificate of Occupancy (CO)
Chain Linking Returns
Class A
Class B
Class C
Co-Investment
Co-Investment Program
Collateral
Collateral Account/Package
Collateralized Mortgage Obligation (CMO)
Collection Loss
Commercial
Common Area
Common Area Maintenance (CAM) Charges
Comparables (Comps) or Comparable Sales
Compliance
Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) or Superfund
Concessions
Condemnation
Conduit
Consent Rights
Construction Completion Guarantee/Guaranty
Construction Risk
Consumer Behavior
Consumer Price Index (CPI)
Consumption Per Household
Contiguous Space
Continuous Operations Clause
Contract Rent
Contributory Value
Controlled Commercial Entity (of Section 892)
Convertible Debt
Convertible Debt/Loan/Mortgage
Convertible Preferred Stock
Core Plus
Core-Based Statistical Area (CBSA)
Corporate Blocker
Corporate Housing
Correlation
Correlation Coefficient ( )
Cost Index
Counter Party Risk
Country Risk
Covariance
Covenant
Credit Facility
Credit Risk
Credit Tenant
Cross-Over Demand
Cure Period
Currency Risk
Current Expected Credit Losses (CECL)
Current Occupancy
Customer Spotting Technique
Dark Space
Deadlock Provision
Deal-by-Deal Carry (Waterfall)
Defaulting Investor
Deferred Maintenance
Defined Benefit Pension Plan
Defined Contribution Pension Plan
Delinquency Rate
Delivered
Demand Driver
Denominator
Dependent Variable
Derivative Security
Design/Amenity Attributes
Developer Profit
Dilution
Direct Alpha
Direct Investment
Discount Rate
Discounted Cash Flow (DCF)
Discretion or Discretionary Account
Disposition Fee
Distressed Asset
Distribution Waterfall
Diversifiable Risk
Dividend Equivalent Amount
Dollar-Weighted Rate of Return
DOWNREIT
Drag-Along Rights
Drawdown
Drive Time-Based Trade Area
Dry Powder
Due Diligence Questionnaire (DDQ)
Due-on-Sale Clause
Due-on-Transfer Clause
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
Easement
Economic Feasibility
Economic Life
Economic Obsolescence
Economic Ownership
Economic Regime
Effective Age
Effective Buying Income (EBI)
Effective Gross Income (EGI)
Effective Ownership Share
Effective Practical Control (of Section 892)
Effective Rent
Effective Tax Rate
Effective Yield
Effectively Connected Earnings and Profits
Effectively Connected Income (ECI)
Efficiency Ratio
Efficient Frontier
Egress
Elasticity
Emerging Manager
Employee Retirement Income Security Act of 1974 (ERISA)
Encumbrance
Endowment
Enterprise Zone
Entitlement
Entitlement Risk
Entity Investing
Environmental Assessment
Environmental Indemnity Agreement
Environmental Protection Agency (EPA)
Environmental Risk
Environmental, Social and Governance (ESG) Criteria
Equal-Weighted Index
Equilibrium
Equilibrium Vacancy
Equity Capitalization (Cap) Rate
Equity Method
Equity Yield or Equity Yield Rate
ERISA
ERISA Fund
ERISA Limited Partner
Escheat
Event Risk
Excess Return
Exchange Rate Risk
Exclusion Clause/Provision
Exclusivity Right
Execution Risk
Exit Capitalization (Cap) Rate
Expense Policy
Expense Ratio
Expense Reimbursements
Expense Stop
Extension
Externality
Facade
Face Rent
Fee Drag
Fee Leakage
Fee Loss (in Dollars)
Fee Loss (in Percent)
Fee Sharing (in Dollars)
Fee Simple Value
Fee Spread (in Percent)
Fiduciary
Fiduciary Self-Dealing Transactions
Finance, Insurance, and Real Estate (FIRE)
Financial Industry Regulatory Authority (FINRA)
Financial Institutions Reform, Recovery and Enforcement Act (FIRREA)
Financial Risk
First Generation Space
First Loss (Equity) Position
First-Close Investor
First-Time Fund
Fixed Cost or Expense
Fixed or Determinable Annual or Periodical Income (FDAP)
Fixture
Flat Fee
Floor Area Ratio (FAR)
Follow-On Investment
Force Majeure
Foreign Corrupt Practices Act (FCPA)
Foreign Investment in Real Property Tax Act of 1980 (FIRPTA)
Forward Commitment
Foundation
Four Quadrants
Fractions Rule
Frictional Vacancy
Frontage
Full Recourse Guarantee
Full Service Lease
Full Service Rent
Full-Pool Carry (Waterfall)
Functional Obsolescence
Fund Expenses
Future Proposed Space
General Consultant or Consulting Firm
Geo-Fence
Geographic Core
Geographic Information System(s) (GIS)
Geometric Mean
Giveback Provision
Glide Path
Global Endowment Management Implied Private Premium® (GEM IPP)
Global Financial Crisis (GFC)
Going-Concern Value
Going-In Capitalization (Cap) Rate
Graduated Lease
Gravity or Gravitational Models
Great Depression, The
Great Recession, The
Gross Building Area
Gross Domestic Product (GDP)
Gross Floor Area (GFA)
Gross Income Multiplier (GIM)
Gross Leasable Area (GLA)
Gross Lease
Gross National Product (GNP)
Gross Negligence
Gross Rent Multiplier (GRM)
Gross Sales Area (GSA)
Ground Lease
Ground Rent
Guarantor
Haircut
Heat Map
High-Yield Investment
Holding Period
Hold-Over Tenant
Homogenous or Homogeneous
Household
Household Population
Huff’s Law of Shopper Attraction
Idiosyncratic Risk
Implemented Consulting
Incentive Fee
Inception-Date Cohort
Indemnity
Independent Variable
Inflation Hedge
Inflation Risk
Information Ratio
Informational Efficiency
Initial Yield
Intangible Personal Property
Interaction (in Attribution)
Interest Rate Risk
Interim Close
Intermediary
Internal Rate of Return (IRR) Breakpoint Analysis
International Council of Shopping Centers (ICSC)
Inventory
Invested Capital
Investment Advisers Act of 1940 (Investment Advisers Act)
Investment Company Act of 1940
Investment Grade Security
Investment Guidelines
Investment Guidelines or Limitations
Investment Level Return
Investment Management Agreement
Investment Policy
Investment Risk
Investment Value
Investor Letter
Investor Opinion
J Curve
Japanese Real Estate Investment Trust (J REIT)
Jensen’s Alpha
Junior Debt/Loan/Mortgage
Kick-Out Clause/Provision
Know Your Customer (KYC)
Lag Vacancy
Land Ratio Method
Landscaping
Lead Manager
Lease
Lease Agreement
Lease Commencement Date
Lease Expiration Exposure Schedule
Lease Terms
Leased Fee Estate
Leasehold Value
Leasing Fee
Legislative Risk
Lendee
Lender
Lessee
Lessor
Leverage Ratio
Liability Driven Investment (LDI)
Lifecycle
Limited Liability Company (LLC)
Limited Partner Advisory Council (LPAC)
Limited Partner Excuse
Limited Partner Transfer
Limited Partner Withdrawal
Limited Partnership Agreement (LPA)
Line of Credit
Linkage
Liquidity
Liquidity Risk
Locational Obsolescence
Lock-Out Period
Lock-Up Period
Management Fee
Management Risk
Mandate
Market Analysis
Market Area
Market Cycle
Market Delineation
Market Interest Rate
Market Participants
Market Portfolio
Market Rent
Market Risk
Market Risk Premium
Market Segmentation
Market Share
Market Study
Marketability Analysis
Master Lease
Mean
Mean-Variance Analysis
Median Income
Metropolitan Statistical Area (MSA)
Minimum Rent
Mixed-Asset Portfolio
Mixed-Use
Modern Portfolio Theory (MPT)
Money-Weighted Rate of Return
Monte Carlo Simulation
Moral Hazard
Mortgage REIT
Mortgagee
Mortgagor
Most Favored Nations Clause (MFN)
Multi-Asset Portfolio
Multi-Tenant
Negative Leverage
Nelson Technique
Net Absorption
Net Income
Net Lease
Neutral Leverage
Nominal Alpha
Nominal Tax Rate
Non-Amortizing Debt/Loan/Mortgage
Non-Compete Clause/Provision
Nonconforming Use
Non-Discretion or Non-Discretionary
Non-Diversifiable Risk
Non-Recourse
Non-Transferable Debt/Loan/Mortgage
Numerator
Occupancy Rate
Operating Expense Risk
Operating Expenses
Operating Partner
Operating Property
Operational Risk
Opportunity Cost
Outliers
Outsourced Chief Investment Officer (CIO)
Outsourcing
Overage Rent
Override Fee
Overstored Trading Area
Par Value
Pari-Passu
Parking Index
Parking Ratio
Party-in-Interest
Party-in-Interest Transaction
Pass-Through Entity
Percentage In Point (PIP)
Performance Allocation
Personal Property
Phase I Environmental Site Assessment (ESA)
Phase II Environmental Site Assessment (ESA)
Phase III Environmental Site Assessment (ESA)
Physical Obsolescence
Placement Agent
Pooled Fund
Portfolio Deal
Positive Leverage
Potential Gross Income (PGI)
Potential Gross Rent
Preferred Debt/Loan/Mortgage
Preferred Return
Price Interest Point (PIP)
Pricing Risk
Primary Trade Area
Prime Space
Prime Tenant
Principal Market
Profit
Programmatic Joint Venture
Prohibited Transaction
Prohibited Transaction Safe Harbor
Promote
Property Condition Assessment Report
Property Level Return
Property Stacking Plan
Prospective Value
Prospectus
Protecting Americans from Tax Hikes Act of 2015 (PATH Act)
Prudent Man Rule
Public Market Equivalent (PME)
Purchasing Power
Purchasing Power Risk
Qualified Borrower
Qualified Business Income
Qualified Client or Investor
Qualified Foreign Pension Fund (QFPF) or Plan (QFPP)
Qualified Organization (QO)
Qualified Plan
Qualified Purchaser
Query
Racketeer Influenced and Corrupt Organizations Act (RICO)
Rating Agency
Real Estate Investment Trust (REIT)
Real Estate Market Cycle
Real Estate Market Cycle Risk
Real Estate Operator
Real Property Interest
Recognized Environmental Condition (REC)
Reconciliation
Recourse Loan
Recoveries
Redemption Period
Redemption Queue
Regional Center
Registration Statement
Regression Analysis
Regression Line
Regulation A+ Offering (Reg A+)
Regulation D Offering (Reg D)
Reilly’s Law of Retail Gravitation
Related Party Transaction
Relative Return
Remedial Action Plan
Renewal Option
Rent (Rental) Growth
Rent Concessions
Rent Growth
Rentable Area
Rented Area
Rent-Up Period
Reserve
Residual Capitalization (Cap) Rate
Residual Risk
Resolution Trust Corporation (RTC)
Retail Investor
Retrofit
Return on Capital (ROC)
Return on Invested Capital (ROIC)
Return on Total Capital (ROTC)
Reward-to-Risk Ratio
Right of First Offer (ROFO)
Right of First Refusal (ROFR)
Risk Factor
Risk Parity
Risk Preferences
Risk-Adjusted Discount Rate
Risk-Adjusted Return
Risk-Free Rate
Rollover
Rollover Risk
Royal Institution of Chartered Surveyors (RICS)
Rule 144A
Safe Harbor
Sale-Leaseback
Sales Comparison Approach (SCA)
Sales Risk
Saturated Trading Area
Savings and Loan Association (S&L)
Scenario Analysis
Second Generation Space
Secondary Space
Secondary Trade Area
Section 892 Exemption
Secured Overnight Financing Rate (SOFR)
Securities Act of 1933
Securities and Exchange Commission (SEC)
Securities Exchange Act (SEA) of 1934
Securitization
Security Market Line (SML)
Seed Asset
Selection (in Attribution)
Senior Debt/Loan/Mortgage
Sensitivity Analysis
Sharpe Ratio
Shopping Center
Sidecar Fund or Investment
Signage
Single Asset Deal
Single Real Estate Operating Company (REOC) Fund
Site Analysis
Site Development
Site Plan
Social Investing
Social Responsibility
Solver Function (Excel)
Sophisticated Investor
Sovereign Wealth Fund (SWF)
Space Absorption
Space Market
Space Plan
Special Limited Partner
Specialist Consultant or Consulting Firm
Specific Risk
Specified Asset or Investment
Specified Investing
Speculative Space
Standard Deviation (σ)
Stated Rent
Step-Up Provision
Strategic Investment Decisions
Strip Center
Style Drift
Subadvisor
Subordinate Debt/Loan/Mortgage
Subordination
Subscription Period
Subscription-Backed Credit Facility
Super-Exempt US Investor
Superfund or Comprehensive Environmental Response, Compensation and Liability Act (CERCLA)
Supermajority
Supply Risk
Systematic Risk
Systemic Risk
Tactical Investment Decisions
Tag-Along Rights
Tax Bracket
Tax Efficiency
Tax Shelter
Taxable REIT Subsidiary (TRS)
Tax-Exempt Investor
Tear Sheet
Tenant Finish Allowance
Tenant Improvement Allowance
Tenant Improvements
Tenant Mix
Term
Terminal Capitalization (Cap) Rate
Terminal Value
Terrorism Risk
Tertiary Trade Area
Top-Down Investing
Topography
Tracking Error
Trade Area
Traffic Count
Transferee
Transferor
Transparency
Treynor Ratio
Triple Net Lease (NNN)
Truth in Securities Law
Turn Key Project
Umbrella Partnership Real Estate Investment Trust (UPREIT)
Uncalled Capital Commitment
Understored Trading Area
Undiversifiable Risk
Units of Comparison
Unrelated Business Income Tax (UBIT)
Unrelated Business Taxable Income (UBTI)
Unsystematic Risk
Upfit
Urban Land Institute (ULI)
US Real Property Holding Corporation (USRPHC)
US Real Property Interest (USRPI)
Usable Area
Usury
Vacancy Loss
Valuation Policy
Valuation Risk
Value Creation
Value-Weighted Index
Variable Cost or Expense
Variance
Venture Capital
Venture Capital Operating Company (VCOC)
Vertically Integrated Manager
Visibility
Volatility
Waterfall
What-If Analysis
Whistleblower
Whole Loan
Wholly Owned Subsidiary
> 3000
Net Initial Yield (NIY)
Net equivalent yield
Attachment Point LTV
Reversionary yield
Estimated Rental Value (ERV)
Gross initial yield
Net financing cost
Gross asset value of vehicle (Including pro rata share in joint ventures)
Fee reductions/rebates
Asset management fee
Performance fee
Property disposition fee
Interest Payment Date (IPD)
Total Expense Ratio (TER)
Internal Rate of Return - IRR (INREV)
Net Asset Value - NAV (INREV)
ADC Arrangements
Real Estate Expense Ratio (REER)
Distribution-dividend yield
Equity multiple (Net)
Income return
Property acquisition fee
Property disposition costs
Target percentage non-income producing investments
Equity multiple (Gross)
Internal Rate of Return-since inception net
Property acquisition costs
National Council of Real Estate Investment Fiduciaries (NCREIF)
Total capital commitment drawn
Assets under Management (AUM)
Dead deal costs
Property Management Fee
ANREV
Total return net to investor
Investment Manager
Capital expenditure (Capex) Facility
INREV
Gross return
Fair Value Net Asset Value (FV NAV)
Asset Manager
Net Operating Income (NOI)
Vehicle
Carried interest
Total current outstanding capital
Total return (net and unlevered)
Maximum LTV
Allocated Loan Amount
Fair value (IFRS definition)
Reporting standards - handbook volume I and II
Fund
International Valuation Standards Council (IVSC)
Closed End Vehicle
Internal Rate of Return-since inception gross of fees
Club Deal
Style
Accounting Standards Update (ASU)
Internal leasing commissions
Pension Real Estate Association (PREA)
Weighted average cost of debt
Loan Covenants
Investment Advisor
Project management fee (excl. development activities)
Internal Rate of Return-realized (Gross) vehicle
Waterfall calculation
Target return derived from income
Net return
Uniform Standards of Professional Appraisal Practice (USPAP)
Fund Manager
Internal Rate of Return-starting from inception to end-projected-gross
Fair value of investment portfolio
Void rate
Target percentage of (re)development exposure
International Financial Reporting Standards (IFRS)
Internal Rate of Return-gross
Custodian costs
Joint Venture
Life Insurance Separate Account
Internal Rate of Return-net
Equity multiple- gross, projected
Nominal value of debt excluding shareholder loans
Weighted average maturity of debt excluding shareholder loans (Years)
Vacancy (Based on leasable floor space)
Property Manager
Internal Rate of Return-starting from inception to end-projected-net
Emerging Issues Task Force (EITF)
Gross property return
Vehicle Manager
Global Investment Performance Standards (GIPS®)
All-in Interest Rate
INREV Guidelines
Vacancy (Based on estimated rental value)
Fair value of vehicle according to INREV guidelines
Single Account
Final closing
External leasing commissions
Distributions
Leverage Limits
Core (INREV Style)
Property-level loan to value
CFA Institute
Composite
Open End Vehicle
Utilities, repair and maintenance costs (non-rechargeable portion)
Total capital commitments (By all investors)
Non-controlling effects on the INREV NAV adjustments
Bank Charges
Weighted average cost of debt excluding shareholder loans
Vehicle Documentation
Net Zero Carbon Building
Professional services costs
Pooled Trusts
Acquisition
Gross equity multiple of vehicle realized
Vehicle formation costs
Sustainable Investment
Property management costs
Equity multiple-net, projected
Vehicle-level loan to value
Debt arrangement fee
Termination Date
Stepped Rent
Investment
Project management costs
NOI yield
Vehicle administration costs
Secondary Trade
Other/misc. vehicle costs
Number of new / renewed loans
Percentage of total capital commitments invested
Net investment income-Operating Model
Core (RS Style)
Taxes on property related activities
Property insurance costs
Offer price
Initial Closing
Cost of development portfolio
Tax effect of the adjustments
Debt Service Coverage Ratio - DSCR (INREV)
Investment Period
Transfer agent costs
Internal valuation
Valuation costs
Event of Default (EOD)
Vehicle-level loan to cost
Weighted average lease expiry
Termination Clause
Time-Weighted Return (TWR)
Vehicle Formation Date
Fund management fee
Bank / loan / overdraft / debt interest
Value-added (INREV Style)
Partial Period (for TWR purposes)
Feeder Vehicle
Opportunistic (INREV Style)
Non-Operating Model
Debt Service Coverage Ratio - DSCR (RS)
Distributions to paid-in capital (DPI) multiple
Cash management fee third party
Borrower sustainability scorecard
Standing investment
Total Value to paid in capital multiple (TVPI)
Exempt fees and costs
Borrower sustainability credentials
Asset weighted
Cost Approach (valuation technique)
Property Conversion
Non-participating mortgage loan
Euro Interbank Offered Rate (EURIBOR)
Style-Fund
Super-Regional Mall
Internal Rate of Return - IRR (RS)
Refurbishment
Value-added (RS Style)
Gross Assets (for fund leverage measures)
Redemption
Appreciation
Make-Whole Margin
Amortization Period
Benchmark
Fair Value Accounting Policy Manual
Investment multiple
Capital expenditures (CAPEX)
Legal fees (Not property specific)
Net Asset Value - NAV (RS)
Internal Rate of Return-original and projected
Claw back
Market Approach (valuation technique)
Reversionary income
Leverage
Asset weighting methodology
Subordinated Creditor
Operating Model
Market Value
Audit costs
Asset Originator
Property Protection Loan
Property
Paid in capital to committed capital multiple
Asset-weighted composites
Caps (Interest)
Opportunistic (RS Style)
Modified Dietz
Commingled Fund
Time-Weighted Return (TWR), property level
Cumulative TWR returns
Start of Investment Period
Economic Share
Base Rent Income
Exit LTV
Other net income
Geometrically linked TWR
Additional Contingent Interest
Initial Leasing
Senior Living (facility)
End of maximum extendable vehicle term
Time-Weighted Return (TWR) (Fund Level)
Subscription secured credit facilities
Portfolio Interest Service Coverage Ratio
Residual value to paid-in capital multiple (RVPI)
Fair Value (GIPS, Appraisal Institute)
Fair Value Option
Number of assets
Carve-outs (lending)
Contingent Interest
Leverage Percentage
Asset-backed securities (ABS)
Interest rate hedging ratio
Loan to equity
Income Approach (valuation technique)
Waterfall Analysis
Manufacturing facility (industrial)
Base Interest
Single Client Account
Construction Loan
Bridge Loan
Self-Storage (facility)
Commitment fees
Fair Value
Floating Rate Debt
Alternative Investment Fund Manager (AIFM)
Wind-up fee
Planned Liquidation Date
Borrower
Weighted Average interest rate of Fund T1 leverage
Operational results
Recourse Debt
Placement agent costs
Dividend Payment
Regulatory / Statutory costs
Weighted Average Remaining term of Fixed Rate Fund T1 leverage
Historical Interest Cover Ratio (Historical ICR)
Costs of Sale
Paid in capital
Cross Collateralization
Statement of Position (SOP) (accounting)
Foreign exchange difference
Inception date
Non-Controlling Equity Interests (Minority Interest)
Subscription Agreement
Residual multiple
Time-Weighted Return (TWR), investment level
Marketing costs
Valuation
Loan to Cost (LTC)
Fixed Rate Debt
Net Sale Price
Loan Lockout Period
Commercial mortgage-backed securities (CMBS)
Total capital drawn down
Hedged %
Controlling Equity Interest
Investment level
Debt Yield
Non-Recourse Debt
Contractual Principal
Realization Multiple
Inception date (Fund)
Lease Area
Industrial Revenue Bonds
Gross Sales Price
ROI (Return on Investment)
Foundational Standards
hedging instruments
Loan Amortization Period
Community Center
Credit enhancements
Guarantee
Spens Clause
Transaction offsets
Contractual Interest
Fund /Account(s)
Maturity Date
SFAS
Free Rent
Highest and Best Use
Paid in Capital Multiple
Regional Mall
Participating mortgage
Interest Rate Swaps
Alternative Investment Fund (AIF)
Contingent liabilities
Fashion / Specialty Center
Authorised Management Company
Development fee
Junior Debt
Weighted Average Remaining term of Floating Rate Fund T1 leverage
Office Showroom
Performance Attribution
Market Vacancy
TIF Notes
Debt Interest
Total debt maturities
Required standard
Performance Bond
Surety Bond
Residual value
High-rise Elevator Apartments
Flex Space (industrial)
Research and Development (industrial)
Subordinated Loan
Subscription fee
Outlet Center
Liquidity Coverage Ratio (LCR)
Asset Management Company
Deferred taxes
Letter of credit (LOC)
Garden-type Apartments
Debt arrangement costs
Redemption fees
Prepayment Penalty
Theme / Festival Center
Percentage Rent
Restrictions on transfer
Make-Whole Provision
Staff costs
Special Purpose Vehicle (SPV)
Fee waivers
Replacement Costs
Neighborhood Center (retail)
Warehouse (industrial)
Asset Liability Matching (ALM)
Registered Investment Advisor (RIA)
Distribution fee
Investee
Limited Liability Partnership (LLP)
Power Center
Reimbursement Income
Transaction Obligor
Discretion
Low-rise Apartments
Property-related taxes
Security
Minimum Capital Requirement (MCR)
Limited Partner
General Partner (GP)
Outstanding Capital Commitment
Bullet Repayment
Separate Accounts
Financing fee
Limited Partnership (LP)
Financing Company
Senior Loan
Security Agent
Parallel Vehicle
Total direct GHG emissions
Limited Liability Company
Subordination Agreement
Investment Management Company
Property Management Company
Cure Rights
Partnership
Investment Company
Securities handling charges
Property Company
Disposition
Environment, Social and Governance (ESG)
Break Costs
Mortgage Company
Expansion
Trustee Costs
Loan Amortisation
High Quality Liquid Assets (HQLA)
Fixed and floating charges over assets
Diversity, Equity and Inclusion (DEI)
Payment in Kind (PIK) interest/ Accrued Interest
Margin
Cash Sweep
End of Investment Period
Master Vehicle
Mezzanine Debt
Compensation Prepayment Proceeds
Mark-to-Market
Second Mortgage
Disposals Account
Outstanding Principal Balance
Flexibility for alternative use
Debt Fund
Assignment / Transfer clauses
Interest reserve account
Related parties
Development Facility
Over the Counter (OTC)
Recovery Payment Proceeds
Development Margin
Facility Agent
Set-up costs
Wealth taxes
Obligor
Internal Ratings-Based Approach (IRB)
Segregated Account
Discount margin
Public/Private Partnership (PPP)
> 2000
Credit Default Swap (CDS)
Constitutional Documents
First Ranking Mortgage
Debt Vehicle
Financial Covenants
Commitment period
Credit Rating
Debenture
Conditions Subsequent
Default Covenant
Conditions Precedent
Syndicated loan purchaser
Standalone Sustainable Lending Policy
Duty of Care Agreement
London Interbank Offered Rate (LIBOR)
Material Adverse Effect
Credit Committee
Excluded Recovery Proceeds
Interest Period
Interest Rate
Sustainability scorecard
Information Covenants
Permitted Payment
Subordinated Creditor's Security Agreement
Hedging Arrangement/Agreement
Fixed Rate Recourse Debt
Insurance Prepayment Proceeds
Outstanding Portfolio Balance
Funds of funds
Corporate Governance
Development
Investment margin (Spread)
Participated Loan
Deposit Account
Intercreditor Agreement
Generally Accepted Accounting Principles (GAAP)
Prepayment Fees
Strategy-Account Vehicle
Financial Accounting Standards Board (FASB)
Step in Rights
Private Placement
Non-Performing Loan (NPL)
Repayment
Syndicated Loan
Sponsor
Governmental Accounting Standards Board (GASB)
Capital contribution
Capital Structure
Contingent Rent
Hold Period
Capital call
Residential Mortgage-Backed Securities (RMBS)
Capital commitment
Loan Term
Redevelopment
Recallable Capital
Securitized Loan
Indexed Rent
Brownfield
Fair Value Generally Accepted Accounting Principles (FV GAAP)
Sustainability
Transaction Document
Vintage Year
Stabilisation
Redemption Queuing Mechanism
Renovation
Greenfield
Predevelopment
Holding Company
Side Letter
Key person clause
Capital call notice
Multi manager
Repositioning
Prepayment
Affordable Housing
Catch-up
Operational Real Estate
Unfunded Commitment
HVAC
Hurdle Rate
> 1000
Private Placement Memorandum (PPM)
Income distribution
Lock-up Period
Absolute energy
Capital distribution
Redemption Cap
Feed-in-Tariffs
Mandatory disclosure requirements
Building types
Lock-up
Subscription queuing mechanism
Common parts
Greenhouse gas (GHG) emissions
Building GHG intensity
Carbon Disclosure Project
Renewable energy
Climate Risk
Floor area
Building energy intensity
Boundaries
Carbon trading
Additionality
District heating and cooling
Transition Risk
Community Development
Physical Risk
Total indirect GHG emissions
Fugitive emissions
Equity-share
Operational control
Impact Investing
Job creation
Impact investing metrics
Sustainable Development Goals (SDG)
Building water intensity
Economic Development
Financial Inclusion
Persons
Financial control
Underserved population
Waste by disposal route
Intentionality
Social Impact
Impact Measurement & Management
Gross operating income
Current development exposure as percentage of Gross Asset Value (GAV)
Effective Share
Property Loan to Value (LTV)
Unrealised (capital) gain / loss
Commitment
Gross property value
> 500
Vehicle Loan to Value (LTV)
Realised (capital) gain/ loss
Total return of capital
Total returned capital recalled
Return of capital
Remaining capital commitment
Net Debt Yield
Currency exposure
< 500
Whole Loan
Whistleblower
Wholly Owned Subsidiary
Locational Obsolescence
Lock-Out Period
Lock-Up Period
Collateral Account/Package
Customer Spotting Technique
Current Occupancy
Concessions
Contributory Value
Core Plus
Calibration
Contract Rent
Consent Rights
Capitalization (Cap) Rate
Common Area
Conduit
Capital Allocator
Capital Asset Pricing Model (CAPM)
Comparables (Comps) or Comparable Sales
Capital Market Line (CML)
Business Enterprise
Volatility
Build-to-Suit
Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) or Superfund
Waterfall
Construction Risk
Controlled Commercial Entity (of Section 892)
What-If Analysis
Collateralized Mortgage Obligation (CMO)
Build-Out
Building Standard Plus Allowance
Compliance
Class B
Construction Completion Guarantee/Guaranty
Convertible Debt/Loan/Mortgage
Convertible Preferred Stock
Amortizing/Amortization
Capital Market Risk
Capitalization
Common Area Maintenance (CAM) Charges
Cure Period
Current Expected Credit Losses (CECL)
Business Risk
Convertible Debt
Dilution
Visibility
Chain Linking Returns
Collection Loss
Condemnation
Currency Risk
Deal-by-Deal Carry (Waterfall)
Land Ratio Method
Business Value
Core-Based Statistical Area (CBSA)
Counter Party Risk
Country Risk
Credit Facility
Venture Capital
Building Owners and Managers Association (BOMA)
Commercial
Cross-Over Demand
Vertically Integrated Manager
Accounts
Acquisition Fee
Capital Markets
Census Tracts
Corporate Blocker
Asking Rent
Asset Class
Class A
Internal Rate of Return (IRR) Breakpoint Analysis
Undiversifiable Risk
Accounting Standards Codification (ASC) 820
Capital Gain
Cash Flow Before Tax (CFBT)
Certificate of Occupancy (CO)
Collateral
Covariance
Lessee
Units of Comparison
Upfit
After-Tax Cash Flow
Capitalization-Weighted Index (CWI)
Consumer Behavior
Credit Tenant
Alternative Investment Vehicle (AIV)
Brinson-Hood-Beebower (BHB) Attribution Analysis
Consumer Price Index (CPI)
Graduated Lease
Valuation Policy
Class C
Co-Investment Program
Correlation
Dark Space
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
Lag Vacancy
Leverage Ratio
Linkage
Arm’s Length Transaction
Full Service Rent
Gross Lease
Investment Policy
Junior Debt/Loan/Mortgage
Lease
Lease Expiration Exposure Schedule
Truth in Securities Law
Usury
Assessor
Block Group-Based Trade Area
Block Groups (BGs)
Contiguous Space
Corporate Housing
Credit Risk
General Consultant or Consulting Firm
Leasing Fee
Lendee
Umbrella Partnership Real Estate Investment Trust (UPREIT)
A-Note (Senior Debt/Loan)
Design/Amenity Attributes
Discretion or Discretionary Account
Informational Efficiency
Lessor
Limited Partner Advisory Council (LPAC)
Triple Net Lease (NNN)
Arbitrage
Assessed Value
Business Enterprise Value
Cascading Pledge
Co-Investment
Dry Powder
Gross National Product (GNP)
Invested Capital
Variance
Alignment of Interest
Capture Rate
Defined Benefit Pension Plan
Gravity or Gravitational Models
Investment Risk
Lease Terms
Valuation Risk
Correlation Coefficient ( )
Due Diligence Questionnaire (DDQ)
Economic Feasibility
Great Recession, The
Idiosyncratic Risk
Investment Company Act of 1940
Investment Grade Security
Investment Level Return
J Curve
Limited Liability Company (LLC)
Limited Partner Withdrawal
Line of Credit
Venture Capital Operating Company (VCOC)
Absolute Return Attribution
Asset Allocation
Asset Backed Security
Building Lines
Deferred Maintenance
Developer Profit
Direct Investment
Giveback Provision
Information Ratio
Investment Advisers Act of 1940 (Investment Advisers Act)
Investor Opinion
Japanese Real Estate Investment Trust (J REIT)
Legislative Risk
Lender
Variable Cost or Expense
Accredited Investor
Activity and Use Limitation (AUL)
Adjusted Basis
Amenities
Anchor Tenant
Delinquency Rate
Effective Tax Rate
Efficiency Ratio
Going-In Capitalization (Cap) Rate
Investment Guidelines
Investment Management Agreement
Leasehold Value
Liability Driven Investment (LDI)
Limited Partner Transfer
Acquisition-Date Cohort
Appraisal Institute
Blocker or Blocker Corporation
Bottom-Up Investing
Continuous Operations Clause
Cost Index
Drive Time-Based Trade Area
Effective Rent
Global Financial Crisis (GFC)
Urban Land Institute (ULI)
Adjustable-Rate Debt/Loan/Mortgage (ARM)
Arbitration
Assemblage
Before-Tax Internal Rate of Return (BTIRR)
Brinson-Fachler (BF) Attribution Analysis
Consumption Per Household
Environmental Protection Agency (EPA)
Geo-Fence
International Council of Shopping Centers (ICSC)
Jensen’s Alpha
Know Your Customer (KYC)
Lead Manager
Lease Agreement
Leased Fee Estate
Treynor Ratio
Value-Weighted Index
Allocation by Abstraction
As-Is Condition
Bad Boy Acts/Carve-Out
Direct Alpha
Distressed Asset
Entitlement
Kick-Out Clause/Provision
Lifecycle
Transferee
Uncalled Capital Commitment
US Real Property Holding Corporation (USRPHC)
Value Creation
As-Is Value
Broker-Dealer
Defined Contribution Pension Plan
Easement
Employee Retirement Income Security Act of 1974 (ERISA)
Geographic Core
Great Depression, The
Gross Domestic Product (GDP)
Holding Period
Independent Variable
Intermediary
Investment Guidelines or Limitations
US Real Property Interest (USRPI)
All Appropriate Inquiries
Arrears
Covenant
Deadlock Provision
Dependent Variable
Discount Rate
DOWNREIT
Economic Life
Expense Reimbursements
Flat Fee
Full Recourse Guarantee
Fund Expenses
Initial Yield
Inventory
Limited Partnership Agreement (LPA)
Supermajority
Unrelated Business Income Tax (UBIT)
Unrelated Business Taxable Income (UBTI)
Vacancy Loss
Allowances
Borrowing Base
Delivered
Discounted Cash Flow (DCF)
Disposition Fee
Economic Ownership
Effectively Connected Income (ECI)
Fractions Rule
Homogenous or Homogeneous
Interim Close
Landscaping
Lease Commencement Date
Tag-Along Rights
Terminal Value
Usable Area
Distribution Waterfall
Diversifiable Risk
Dollar-Weighted Rate of Return
Economic Obsolescence
Economic Regime
Efficient Frontier
Endowment
Equity Yield or Equity Yield Rate
Foreign Corrupt Practices Act (FCPA)
Inception-Date Cohort
Supply Risk
Turn Key Project
Absorption or Absorption Rate
Advisory Board or Committee
Allocation (in Attribution)
Alpha (α)
Alternative Investment Risk
Anti-Dilution Clause/Covenant/Provision
ARGUS
Attribution Analysis
B Note (Junior Debt/Loan)
Drag-Along Rights
Effective Practical Control (of Section 892)
Fixed or Determinable Annual or Periodical Income (FDAP)
High-Yield Investment
Indemnity
Inflation Risk
Intangible Personal Property
Liquidity Risk
Affiliate Agreement
American Institute of Certified Public Accountants (AICPA)
Benchmark Cohort
Due-on-Sale Clause
Effectively Connected Earnings and Profits
Equilibrium
Fiduciary
Foreign Investment in Real Property Tax Act of 1980 (FIRPTA)
Forward Commitment
Foundation
Gross Income Multiplier (GIM)
Interaction (in Attribution)
Term
Transferor
Transparency
Understored Trading Area
Allocation Policy
Arithmetic Mean
Defaulting Investor
Due-on-Transfer Clause
Elasticity
Frictional Vacancy
Future Proposed Space
Incentive Fee
Investment Value
Limited Partner Excuse
Liquidity
Specified Asset or Investment
Specified Investing
Stated Rent
Topography
401(a) Pension Plan
Demand Driver
Denominator
Emerging Manager
Environmental Indemnity Agreement
Excess Return
First Loss (Equity) Position
Full-Pool Carry (Waterfall)
Gross Building Area
Gross Leasable Area (GLA)
Heat Map
Inflation Hedge
Interest Rate Risk
Subscription Period
Tenant Improvement Allowance
Unsystematic Risk
Account Pledgor
After-Tax Internal Rate of Return (ATIRR)
Allocation by Ratio
Branch Profits Tax
Drawdown
Externality
Geographic Information System(s) (GIS)
Gross Negligence
Haircut
Investor Letter
Subordination
Subscription-Backed Credit Facility
Tenant Improvements
Average
Dividend Equivalent Amount
Entity Investing
Fiduciary Self-Dealing Transactions
Glide Path
Global Endowment Management Implied Private Premium® (GEM IPP)
Going-Concern Value
Solver Function (Excel)
Speculative Space
Strategic Investment Decisions
Appraisal
Effective Yield
ERISA Limited Partner
Exit Capitalization (Cap) Rate
Follow-On Investment
Four Quadrants
Frontage
Gross Sales Area (GSA)
Huff’s Law of Shopper Attraction
Space Plan
Subadvisor
Super-Exempt US Investor
Systematic Risk
Tear Sheet
704(b) Regulations
Effective Age
Effective Gross Income (EGI)
Face Rent
Fee Drag
Finance, Insurance, and Real Estate (FIRE)
Force Majeure
Ground Lease
Household
Market Area
Tactical Investment Decisions
Tenant Mix
Top-Down Investing
1031 Exchange
Blind Pool
Derivative Security
Enterprise Zone
Equity Capitalization (Cap) Rate
Exchange Rate Risk
Financial Industry Regulatory Authority (FINRA)
Hold-Over Tenant
Specific Risk
Strip Center
Taxable REIT Subsidiary (TRS)
Tracking Error
Before-Tax Cash Flow (BTCF)
Expense Ratio
Financial Institutions Reform, Recovery and Enforcement Act (FIRREA)
Fixed Cost or Expense
Household Population
Management Fee
Management Risk
Market Cycle
Qualified Purchaser
501(c)(3) Nonprofit Organization
Bitesize
Effective Ownership Share
Egress
Equilibrium Vacancy
ERISA Fund
Escheat
Financial Risk
Full Service Lease
Geometric Mean
Tax Shelter
Terminal Capitalization (Cap) Rate
Benchmarking
Fee Simple Value
First Generation Space
Implemented Consulting
Market Delineation
Master Lease
Parking Ratio
Step-Up Provision
Subordinate Debt/Loan/Mortgage
Systemic Risk
Allocation Method
Equity Method
Exclusion Clause/Provision
Floor Area Ratio (FAR)
Functional Obsolescence
Gross Rent Multiplier (GRM)
Mandate
Section 892 Exemption
Terrorism Risk
Tertiary Trade Area
Trade Area
Alternative Lender
Effective Buying Income (EBI)
Entitlement Risk
Environmental Risk
Execution Risk
Extension
Fee Leakage
First-Close Investor
Fixture
Gross Floor Area (GFA)
Positive Leverage
Rule 144A
Encumbrance
Expense Stop
Fee Sharing (in Dollars)
Guarantor
Market Segmentation
Sales Comparison Approach (SCA)
Environmental Assessment
Market Portfolio
Mixed-Use
Signage
Tax Efficiency
Equal-Weighted Index
Exclusivity Right
Facade
First-Time Fund
Savings and Loan Association (S&L)
Scenario Analysis
Securities Act of 1933
Seed Asset
Specialist Consultant or Consulting Firm
Standard Deviation (σ)
Tax Bracket
Tenant Finish Allowance
Expense Policy
Fee Loss (in Dollars)
Operating Expenses
Purchasing Power Risk
Second Generation Space
Secondary Trade Area
Secured Overnight Financing Rate (SOFR)
Single Real Estate Operating Company (REOC) Fund
Sophisticated Investor
Sovereign Wealth Fund (SWF)
Style Drift
Environmental, Social and Governance (ESG) Criteria
Market Analysis
Market Interest Rate
Occupancy Rate
Prospective Value
Protecting Americans from Tax Hikes Act of 2015 (PATH Act)
Secondary Space
Social Responsibility
Space Market
Special Limited Partner
Traffic Count
Beta (β)
ERISA
Fee Loss (in Percent)
Market Participants
Outliers
Recoveries
Rent Concessions
Social Investing
Space Absorption
Tax-Exempt Investor
509(a) Nonprofit Organizations
Event Risk
Mortgage REIT
Net Lease
Property Condition Assessment Report
Sensitivity Analysis
Shopping Center
Site Development
Superfund or Comprehensive Environmental Response, Compensation and Liability Act (CERCLA)
Ground Rent
Mean-Variance Analysis
Non-Amortizing Debt/Loan/Mortgage
Override Fee
Prohibited Transaction Safe Harbor
Site Plan
Market Study
Marketability Analysis
Median Income
Opportunity Cost
Remedial Action Plan
Risk Factor
Risk Preferences
Sale-Leaseback
Negative Leverage
Non-Diversifiable Risk
Outsourced Chief Investment Officer (CIO)
Overage Rent
Placement Agent
Primary Trade Area
Promote
Public Market Equivalent (PME)
Rent (Rental) Growth
Sidecar Fund or Investment
Fee Spread (in Percent)
Market Rent
Money-Weighted Rate of Return
Moral Hazard
Multi-Tenant
Prime Space
Prime Tenant
Prudent Man Rule
Regression Analysis
Rent-Up Period
Market Share
Mortgagor
Nelson Technique
Pass-Through Entity
Phase III Environmental Site Assessment (ESA)
Potential Gross Rent
Programmatic Joint Venture
Qualified Borrower
Related Party Transaction
Renewal Option
Risk Parity
Selection (in Attribution)
Sharpe Ratio
Mixed-Asset Portfolio
Modern Portfolio Theory (MPT)
Monte Carlo Simulation
Non-Compete Clause/Provision
Non-Discretion or Non-Discretionary
Non-Recourse
Pricing Risk
Qualified Business Income
Rating Agency
Reconciliation
Risk-Free Rate
Saturated Trading Area
Securitization
Single Asset Deal
Net Income
Par Value
Party-in-Interest
Property Level Return
Real Estate Investment Trust (REIT)
Real Property Interest
Regional Center
Regulation A+ Offering (Reg A+)
Rented Area
Resolution Trust Corporation (RTC)
Retail Investor
Return on Capital (ROC)
Royal Institution of Chartered Surveyors (RICS)
Site Analysis
Minimum Rent
Nominal Tax Rate
Operating Partner
Percentage In Point (PIP)
Physical Obsolescence
Preferred Return
Profit
Regression Line
Rentable Area
Return on Invested Capital (ROIC)
Right of First Refusal (ROFR)
Multi-Asset Portfolio
Outsourcing
Parking Index
Purchasing Power
Racketeer Influenced and Corrupt Organizations Act (RICO)
Registration Statement
Rent Growth
Residual Capitalization (Cap) Rate
Residual Risk
Market Risk
Market Risk Premium
Neutral Leverage
Nominal Alpha
Pooled Fund
Qualified Foreign Pension Fund (QFPF) or Plan (QFPP)
Real Estate Operator
Relative Return
Right of First Offer (ROFO)
Risk-Adjusted Return
Safe Harbor
Most Favored Nations Clause (MFN)
Operating Property
Preferred Debt/Loan/Mortgage
Recognized Environmental Condition (REC)
Redemption Queue
Reilly’s Law of Retail Gravitation
Retrofit
Return on Total Capital (ROTC)
Reward-to-Risk Ratio
Securities Exchange Act (SEA) of 1934
Metropolitan Statistical Area (MSA)
Net Absorption
Nonconforming Use
Personal Property
Phase II Environmental Site Assessment (ESA)
Potential Gross Income (PGI)
Price Interest Point (PIP)
Qualified Client or Investor
Regulation D Offering (Reg D)
Security Market Line (SML)
Non-Transferable Debt/Loan/Mortgage
Overstored Trading Area
Party-in-Interest Transaction
Phase I Environmental Site Assessment (ESA)
Qualified Organization (QO)
Reserve
Rollover
Rollover Risk
Mean
Numerator
Operational Risk
Pari-Passu
Redemption Period
Sales Risk
Principal Market
Prohibited Transaction
Real Estate Market Cycle
Senior Debt/Loan/Mortgage
Operating Expense Risk
Performance Allocation
Qualified Plan
Recourse Loan
Property Stacking Plan
Prospectus
Query
Mortgagee
Portfolio Deal
Securities and Exchange Commission (SEC)
Risk-Adjusted Discount Rate
Real Estate Market Cycle Risk
< 500
Real Estate Market Cycle Risk
Risk-Adjusted Discount Rate
Securities and Exchange Commission (SEC)
Portfolio Deal
Mortgagee
Query
Prospectus
Property Stacking Plan
Recourse Loan
Qualified Plan
Performance Allocation
Operating Expense Risk
Senior Debt/Loan/Mortgage
Real Estate Market Cycle
Prohibited Transaction
Principal Market
Sales Risk
Redemption Period
Pari-Passu
Operational Risk
Numerator
Mean
Rollover Risk
Rollover
Reserve
Qualified Organization (QO)
Phase I Environmental Site Assessment (ESA)
Party-in-Interest Transaction
Overstored Trading Area
Non-Transferable Debt/Loan/Mortgage
Security Market Line (SML)
Regulation D Offering (Reg D)
Qualified Client or Investor
Price Interest Point (PIP)
Potential Gross Income (PGI)
Phase II Environmental Site Assessment (ESA)
Personal Property
Nonconforming Use
Net Absorption
Metropolitan Statistical Area (MSA)
Securities Exchange Act (SEA) of 1934
Reward-to-Risk Ratio
Return on Total Capital (ROTC)
Retrofit
Reilly’s Law of Retail Gravitation
Redemption Queue
Recognized Environmental Condition (REC)
Preferred Debt/Loan/Mortgage
Operating Property
Most Favored Nations Clause (MFN)
Safe Harbor
Risk-Adjusted Return
Right of First Offer (ROFO)
Relative Return
Real Estate Operator
Qualified Foreign Pension Fund (QFPF) or Plan (QFPP)
Pooled Fund
Nominal Alpha
Neutral Leverage
Market Risk Premium
Market Risk
Residual Risk
Residual Capitalization (Cap) Rate
Rent Growth
Registration Statement
Racketeer Influenced and Corrupt Organizations Act (RICO)
Purchasing Power
Parking Index
Outsourcing
Multi-Asset Portfolio
Right of First Refusal (ROFR)
Return on Invested Capital (ROIC)
Rentable Area
Regression Line
Profit
Preferred Return
Physical Obsolescence
Percentage In Point (PIP)
Operating Partner
Nominal Tax Rate
Minimum Rent
Site Analysis
Royal Institution of Chartered Surveyors (RICS)
Return on Capital (ROC)
Retail Investor
Resolution Trust Corporation (RTC)
Rented Area
Regulation A+ Offering (Reg A+)
Regional Center
Real Property Interest
Real Estate Investment Trust (REIT)
Property Level Return
Party-in-Interest
Par Value
Net Income
Single Asset Deal
Securitization
Saturated Trading Area
Risk-Free Rate
Reconciliation
Rating Agency
Qualified Business Income
Pricing Risk
Non-Recourse
Non-Discretion or Non-Discretionary
Non-Compete Clause/Provision
Monte Carlo Simulation
Modern Portfolio Theory (MPT)
Mixed-Asset Portfolio
Sharpe Ratio
Selection (in Attribution)
Risk Parity
Renewal Option
Related Party Transaction
Qualified Borrower
Programmatic Joint Venture
Potential Gross Rent
Phase III Environmental Site Assessment (ESA)
Pass-Through Entity
Nelson Technique
Mortgagor
Market Share
Rent-Up Period
Regression Analysis
Prudent Man Rule
Prime Tenant
Prime Space
Multi-Tenant
Moral Hazard
Money-Weighted Rate of Return
Market Rent
Fee Spread (in Percent)
Sidecar Fund or Investment
Rent (Rental) Growth
Public Market Equivalent (PME)
Promote
Primary Trade Area
Placement Agent
Overage Rent
Outsourced Chief Investment Officer (CIO)
Non-Diversifiable Risk
Negative Leverage
Sale-Leaseback
Risk Preferences
Risk Factor
Remedial Action Plan
Opportunity Cost
Median Income
Marketability Analysis
Market Study
Site Plan
Prohibited Transaction Safe Harbor
Override Fee
Non-Amortizing Debt/Loan/Mortgage
Mean-Variance Analysis
Ground Rent
Superfund or Comprehensive Environmental Response, Compensation and Liability Act (CERCLA)
Site Development
Shopping Center
Sensitivity Analysis
Property Condition Assessment Report
Net Lease
Mortgage REIT
Event Risk
509(a) Nonprofit Organizations
Tax-Exempt Investor
Space Absorption
Social Investing
Rent Concessions
Recoveries
Outliers
Market Participants
Fee Loss (in Percent)
ERISA
Beta (β)
Traffic Count
Special Limited Partner
Space Market
Social Responsibility
Secondary Space
Protecting Americans from Tax Hikes Act of 2015 (PATH Act)
Prospective Value
Occupancy Rate
Market Interest Rate
Market Analysis
Environmental, Social and Governance (ESG) Criteria
Style Drift
Sovereign Wealth Fund (SWF)
Sophisticated Investor
Single Real Estate Operating Company (REOC) Fund
Secured Overnight Financing Rate (SOFR)
Secondary Trade Area
Second Generation Space
Purchasing Power Risk
Operating Expenses
Fee Loss (in Dollars)
Expense Policy
Tenant Finish Allowance
Tax Bracket
Standard Deviation (σ)
Specialist Consultant or Consulting Firm
Seed Asset
Securities Act of 1933
Scenario Analysis
Savings and Loan Association (S&L)
First-Time Fund
Facade
Exclusivity Right
Equal-Weighted Index
Tax Efficiency
Signage
Mixed-Use
Market Portfolio
Environmental Assessment
Sales Comparison Approach (SCA)
Market Segmentation
Guarantor
Fee Sharing (in Dollars)
Expense Stop
Encumbrance
Rule 144A
Positive Leverage
Gross Floor Area (GFA)
Fixture
First-Close Investor
Fee Leakage
Extension
Execution Risk
Environmental Risk
Entitlement Risk
Effective Buying Income (EBI)
Alternative Lender
Trade Area
Tertiary Trade Area
Terrorism Risk
Section 892 Exemption
Mandate
Gross Rent Multiplier (GRM)
Functional Obsolescence
Floor Area Ratio (FAR)
Exclusion Clause/Provision
Equity Method
Allocation Method
Systemic Risk
Subordinate Debt/Loan/Mortgage
Step-Up Provision
Parking Ratio
Master Lease
Market Delineation
Implemented Consulting
First Generation Space
Fee Simple Value
Benchmarking
Terminal Capitalization (Cap) Rate
Tax Shelter
Geometric Mean
Full Service Lease
Financial Risk
Escheat
ERISA Fund
Equilibrium Vacancy
Egress
Effective Ownership Share
Bitesize
501(c)(3) Nonprofit Organization
Qualified Purchaser
Market Cycle
Management Risk
Management Fee
Household Population
Fixed Cost or Expense
Financial Institutions Reform, Recovery and Enforcement Act (FIRREA)
Expense Ratio
Before-Tax Cash Flow (BTCF)
Tracking Error
Taxable REIT Subsidiary (TRS)
Strip Center
Specific Risk
Hold-Over Tenant
Financial Industry Regulatory Authority (FINRA)
Exchange Rate Risk
Equity Capitalization (Cap) Rate
Enterprise Zone
Derivative Security
Blind Pool
1031 Exchange
Top-Down Investing
Tenant Mix
Tactical Investment Decisions
Market Area
Household
Ground Lease
Force Majeure
Finance, Insurance, and Real Estate (FIRE)
Fee Drag
Face Rent
Effective Gross Income (EGI)
Effective Age
704(b) Regulations
Tear Sheet
Systematic Risk
Super-Exempt US Investor
Subadvisor
Space Plan
Huff’s Law of Shopper Attraction
Gross Sales Area (GSA)
Frontage
Four Quadrants
Follow-On Investment
Exit Capitalization (Cap) Rate
ERISA Limited Partner
Effective Yield
Appraisal
Strategic Investment Decisions
Speculative Space
Solver Function (Excel)
Going-Concern Value
Global Endowment Management Implied Private Premium® (GEM IPP)
Glide Path
Fiduciary Self-Dealing Transactions
Entity Investing
Dividend Equivalent Amount
Average
Tenant Improvements
Subscription-Backed Credit Facility
Subordination
Investor Letter
Haircut
Gross Negligence
Geographic Information System(s) (GIS)
Externality
Drawdown
Branch Profits Tax
Allocation by Ratio
After-Tax Internal Rate of Return (ATIRR)
Account Pledgor
Unsystematic Risk
Tenant Improvement Allowance
Subscription Period
Interest Rate Risk
Inflation Hedge
Heat Map
Gross Leasable Area (GLA)
Gross Building Area
Full-Pool Carry (Waterfall)
First Loss (Equity) Position
Excess Return
Environmental Indemnity Agreement
Emerging Manager
Denominator
Demand Driver
401(a) Pension Plan
Topography
Stated Rent
Specified Investing
Specified Asset or Investment
Liquidity
Limited Partner Excuse
Investment Value
Incentive Fee
Future Proposed Space
Frictional Vacancy
Elasticity
Due-on-Transfer Clause
Defaulting Investor
Arithmetic Mean
Allocation Policy
Understored Trading Area
Transparency
Transferor
Term
Interaction (in Attribution)
Gross Income Multiplier (GIM)
Foundation
Forward Commitment
Foreign Investment in Real Property Tax Act of 1980 (FIRPTA)
Fiduciary
Equilibrium
Effectively Connected Earnings and Profits
Due-on-Sale Clause
Benchmark Cohort
American Institute of Certified Public Accountants (AICPA)
Affiliate Agreement
Liquidity Risk
Intangible Personal Property
Inflation Risk
Indemnity
High-Yield Investment
Fixed or Determinable Annual or Periodical Income (FDAP)
Effective Practical Control (of Section 892)
Drag-Along Rights
B Note (Junior Debt/Loan)
Attribution Analysis
ARGUS
Anti-Dilution Clause/Covenant/Provision
Alternative Investment Risk
Alpha (α)
Allocation (in Attribution)
Advisory Board or Committee
Absorption or Absorption Rate
Turn Key Project
Supply Risk
Inception-Date Cohort
Foreign Corrupt Practices Act (FCPA)
Equity Yield or Equity Yield Rate
Endowment
Efficient Frontier
Economic Regime
Economic Obsolescence
Dollar-Weighted Rate of Return
Diversifiable Risk
Distribution Waterfall
Usable Area
Terminal Value
Tag-Along Rights
Lease Commencement Date
Landscaping
Interim Close
Homogenous or Homogeneous
Fractions Rule
Effectively Connected Income (ECI)
Economic Ownership
Disposition Fee
Discounted Cash Flow (DCF)
Delivered
Borrowing Base
Allowances
Vacancy Loss
Unrelated Business Taxable Income (UBTI)
Unrelated Business Income Tax (UBIT)
Supermajority
Limited Partnership Agreement (LPA)
Inventory
Initial Yield
Fund Expenses
Full Recourse Guarantee
Flat Fee
Expense Reimbursements
Economic Life
DOWNREIT
Discount Rate
Dependent Variable
Deadlock Provision
Covenant
Arrears
All Appropriate Inquiries
US Real Property Interest (USRPI)
Investment Guidelines or Limitations
Intermediary
Independent Variable
Holding Period
Gross Domestic Product (GDP)
Great Depression, The
Geographic Core
Employee Retirement Income Security Act of 1974 (ERISA)
Easement
Defined Contribution Pension Plan
Broker-Dealer
As-Is Value
Value Creation
US Real Property Holding Corporation (USRPHC)
Uncalled Capital Commitment
Transferee
Lifecycle
Kick-Out Clause/Provision
Entitlement
Distressed Asset
Direct Alpha
Bad Boy Acts/Carve-Out
As-Is Condition
Allocation by Abstraction
Value-Weighted Index
Treynor Ratio
Leased Fee Estate
Lease Agreement
Lead Manager
Know Your Customer (KYC)
Jensen’s Alpha
International Council of Shopping Centers (ICSC)
Geo-Fence
Environmental Protection Agency (EPA)
Consumption Per Household
Brinson-Fachler (BF) Attribution Analysis
Before-Tax Internal Rate of Return (BTIRR)
Assemblage
Arbitration
Adjustable-Rate Debt/Loan/Mortgage (ARM)
Urban Land Institute (ULI)
Global Financial Crisis (GFC)
Effective Rent
Drive Time-Based Trade Area
Cost Index
Continuous Operations Clause
Bottom-Up Investing
Blocker or Blocker Corporation
Appraisal Institute
Acquisition-Date Cohort
Limited Partner Transfer
Liability Driven Investment (LDI)
Leasehold Value
Investment Management Agreement
Investment Guidelines
Going-In Capitalization (Cap) Rate
Efficiency Ratio
Effective Tax Rate
Delinquency Rate
Anchor Tenant
Amenities
Adjusted Basis
Activity and Use Limitation (AUL)
Accredited Investor
Variable Cost or Expense
Lender
Legislative Risk
Japanese Real Estate Investment Trust (J REIT)
Investor Opinion
Investment Advisers Act of 1940 (Investment Advisers Act)
Information Ratio
Giveback Provision
Direct Investment
Developer Profit
Deferred Maintenance
Building Lines
Asset Backed Security
Asset Allocation
Absolute Return Attribution
Venture Capital Operating Company (VCOC)
Line of Credit
Limited Partner Withdrawal
Limited Liability Company (LLC)
J Curve
Investment Level Return
Investment Grade Security
Investment Company Act of 1940
Idiosyncratic Risk
Great Recession, The
Economic Feasibility
Due Diligence Questionnaire (DDQ)
Correlation Coefficient ( )
Valuation Risk
Lease Terms
Investment Risk
Gravity or Gravitational Models
Defined Benefit Pension Plan
Capture Rate
Alignment of Interest
Variance
Invested Capital
Gross National Product (GNP)
Dry Powder
Co-Investment
Cascading Pledge
Business Enterprise Value
Assessed Value
Arbitrage
Triple Net Lease (NNN)
Limited Partner Advisory Council (LPAC)
Lessor
Informational Efficiency
Discretion or Discretionary Account
Design/Amenity Attributes
A-Note (Senior Debt/Loan)
Umbrella Partnership Real Estate Investment Trust (UPREIT)
Lendee
Leasing Fee
General Consultant or Consulting Firm
Credit Risk
Corporate Housing
Contiguous Space
Block Groups (BGs)
Block Group-Based Trade Area
Assessor
Usury
Truth in Securities Law
Lease Expiration Exposure Schedule
Lease
Junior Debt/Loan/Mortgage
Investment Policy
Gross Lease
Full Service Rent
Arm’s Length Transaction
Linkage
Leverage Ratio
Lag Vacancy
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
Dark Space
Correlation
Co-Investment Program
Class C
Valuation Policy
Graduated Lease
Consumer Price Index (CPI)
Brinson-Hood-Beebower (BHB) Attribution Analysis
Alternative Investment Vehicle (AIV)
Credit Tenant
Consumer Behavior
Capitalization-Weighted Index (CWI)
After-Tax Cash Flow
Upfit
Units of Comparison
Lessee
Covariance
Collateral
Certificate of Occupancy (CO)
Cash Flow Before Tax (CFBT)
Capital Gain
Accounting Standards Codification (ASC) 820
Undiversifiable Risk
Internal Rate of Return (IRR) Breakpoint Analysis
Class A
Asset Class
Asking Rent
Corporate Blocker
Census Tracts
Capital Markets
Acquisition Fee
Accounts
Vertically Integrated Manager
Cross-Over Demand
Commercial
Building Owners and Managers Association (BOMA)
Venture Capital
Credit Facility
Country Risk
Counter Party Risk
Core-Based Statistical Area (CBSA)
Business Value
Land Ratio Method
Deal-by-Deal Carry (Waterfall)
Currency Risk
Condemnation
Collection Loss
Chain Linking Returns
Visibility
Dilution
Convertible Debt
Business Risk
Current Expected Credit Losses (CECL)
Cure Period
Common Area Maintenance (CAM) Charges
Capitalization
Capital Market Risk
Amortizing/Amortization
Convertible Preferred Stock
Convertible Debt/Loan/Mortgage
Construction Completion Guarantee/Guaranty
Class B
Compliance
Building Standard Plus Allowance
Build-Out
Collateralized Mortgage Obligation (CMO)
What-If Analysis
Controlled Commercial Entity (of Section 892)
Construction Risk
Waterfall
Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) or Superfund
Build-to-Suit
Volatility
Business Enterprise
Capital Market Line (CML)
Comparables (Comps) or Comparable Sales
Capital Asset Pricing Model (CAPM)
Capital Allocator
Conduit
Common Area
Capitalization (Cap) Rate
Consent Rights
Contract Rent
Calibration
Core Plus
Contributory Value
Concessions
Current Occupancy
Customer Spotting Technique
Collateral Account/Package
Lock-Up Period
Lock-Out Period
Locational Obsolescence
Wholly Owned Subsidiary
Whistleblower
Whole Loan
> 500
Currency exposure
Net Debt Yield
Remaining capital commitment
Return of capital
Total returned capital recalled
Total return of capital
Realised (capital) gain/ loss
Vehicle Loan to Value (LTV)
> 1000
Gross property value
Commitment
Unrealised (capital) gain / loss
Property Loan to Value (LTV)
Effective Share
Current development exposure as percentage of Gross Asset Value (GAV)
Gross operating income
Impact Measurement & Management
Social Impact
Intentionality
Waste by disposal route
Underserved population
Financial control
Persons
Financial Inclusion
Economic Development
Building water intensity
Sustainable Development Goals (SDG)
Impact investing metrics
Job creation
Impact Investing
Operational control
Equity-share
Fugitive emissions
Total indirect GHG emissions
Physical Risk
Community Development
Transition Risk
District heating and cooling
Additionality
Carbon trading
Boundaries
Building energy intensity
Floor area
Climate Risk
Renewable energy
Carbon Disclosure Project
Building GHG intensity
Greenhouse gas (GHG) emissions
Common parts
Subscription queuing mechanism
Lock-up
Building types
Mandatory disclosure requirements
Feed-in-Tariffs
Redemption Cap
Capital distribution
Absolute energy
Lock-up Period
Income distribution
Private Placement Memorandum (PPM)
> 2000
Hurdle Rate
HVAC
Unfunded Commitment
Operational Real Estate
Catch-up
Affordable Housing
Prepayment
Repositioning
Multi manager
Capital call notice
Key person clause
Side Letter
Holding Company
Predevelopment
Greenfield
Renovation
Redemption Queuing Mechanism
Stabilisation
Vintage Year
Transaction Document
Sustainability
Fair Value Generally Accepted Accounting Principles (FV GAAP)
Brownfield
Indexed Rent
Securitized Loan
Recallable Capital
Redevelopment
Loan Term
Capital commitment
Residential Mortgage-Backed Securities (RMBS)
Capital call
Hold Period
Contingent Rent
Capital Structure
Capital contribution
Governmental Accounting Standards Board (GASB)
Sponsor
Syndicated Loan
Repayment
Non-Performing Loan (NPL)
Private Placement
Step in Rights
Financial Accounting Standards Board (FASB)
Strategy-Account Vehicle
Prepayment Fees
Generally Accepted Accounting Principles (GAAP)
Intercreditor Agreement
Deposit Account
Participated Loan
Investment margin (Spread)
Development
Corporate Governance
Funds of funds
Outstanding Portfolio Balance
Insurance Prepayment Proceeds
Fixed Rate Recourse Debt
Hedging Arrangement/Agreement
Subordinated Creditor's Security Agreement
Permitted Payment
Information Covenants
Sustainability scorecard
Interest Rate
Interest Period
Excluded Recovery Proceeds
Credit Committee
Material Adverse Effect
London Interbank Offered Rate (LIBOR)
Duty of Care Agreement
Standalone Sustainable Lending Policy
Syndicated loan purchaser
Conditions Precedent
Default Covenant
Conditions Subsequent
Debenture
Credit Rating
Commitment period
Financial Covenants
Debt Vehicle
First Ranking Mortgage
Constitutional Documents
Credit Default Swap (CDS)
> 3000
Public/Private Partnership (PPP)
Discount margin
Segregated Account
Internal Ratings-Based Approach (IRB)
Obligor
Wealth taxes
Set-up costs
Facility Agent
Development Margin
Recovery Payment Proceeds
Over the Counter (OTC)
Development Facility
Related parties
Interest reserve account
Assignment / Transfer clauses
Debt Fund
Flexibility for alternative use
Outstanding Principal Balance
Disposals Account
Second Mortgage
Mark-to-Market
Compensation Prepayment Proceeds
Mezzanine Debt
Master Vehicle
End of Investment Period
Cash Sweep
Margin
Payment in Kind (PIK) interest/ Accrued Interest
Diversity, Equity and Inclusion (DEI)
Fixed and floating charges over assets
High Quality Liquid Assets (HQLA)
Loan Amortisation
Trustee Costs
Expansion
Mortgage Company
Break Costs
Environment, Social and Governance (ESG)
Disposition
Property Company
Securities handling charges
Investment Company
Partnership
Cure Rights
Property Management Company
Investment Management Company
Subordination Agreement
Limited Liability Company
Total direct GHG emissions
Parallel Vehicle
Security Agent
Senior Loan
Financing Company
Limited Partnership (LP)
Financing fee
Separate Accounts
Bullet Repayment
Outstanding Capital Commitment
General Partner (GP)
Limited Partner
Minimum Capital Requirement (MCR)
Security
Property-related taxes
Low-rise Apartments
Discretion
Transaction Obligor
Reimbursement Income
Power Center
Limited Liability Partnership (LLP)
Investee
Distribution fee
Registered Investment Advisor (RIA)
Asset Liability Matching (ALM)
Warehouse (industrial)
Neighborhood Center (retail)
Replacement Costs
Fee waivers
Special Purpose Vehicle (SPV)
Staff costs
Make-Whole Provision
Restrictions on transfer
Percentage Rent
Theme / Festival Center
Prepayment Penalty
Redemption fees
Debt arrangement costs
Garden-type Apartments
Letter of credit (LOC)
Deferred taxes
Asset Management Company
Liquidity Coverage Ratio (LCR)
Outlet Center
Subscription fee
Subordinated Loan
Research and Development (industrial)
Flex Space (industrial)
High-rise Elevator Apartments
Residual value
Surety Bond
Performance Bond
Required standard
Total debt maturities
Debt Interest
TIF Notes
Market Vacancy
Performance Attribution
Office Showroom
Weighted Average Remaining term of Floating Rate Fund T1 leverage
Junior Debt
Development fee
Authorised Management Company
Fashion / Specialty Center
Contingent liabilities
Alternative Investment Fund (AIF)
Interest Rate Swaps
Participating mortgage
Regional Mall
Paid in Capital Multiple
Highest and Best Use
Free Rent
SFAS
Maturity Date
Fund /Account(s)
Contractual Interest
Transaction offsets
Spens Clause
Guarantee
Credit enhancements
Community Center
Loan Amortization Period
hedging instruments
Foundational Standards
ROI (Return on Investment)
Gross Sales Price
Industrial Revenue Bonds
Lease Area
Inception date (Fund)
Realization Multiple
Contractual Principal
Non-Recourse Debt
Debt Yield
Investment level
Controlling Equity Interest
Hedged %
Total capital drawn down
Commercial mortgage-backed securities (CMBS)
Loan Lockout Period
Net Sale Price
Fixed Rate Debt
Loan to Cost (LTC)
Valuation
Marketing costs
Time-Weighted Return (TWR), investment level
Residual multiple
Subscription Agreement
Non-Controlling Equity Interests (Minority Interest)
Inception date
Foreign exchange difference
Statement of Position (SOP) (accounting)
Cross Collateralization
Paid in capital
Costs of Sale
Historical Interest Cover Ratio (Historical ICR)
Weighted Average Remaining term of Fixed Rate Fund T1 leverage
Regulatory / Statutory costs
Dividend Payment
Placement agent costs
Recourse Debt
Operational results
Weighted Average interest rate of Fund T1 leverage
Borrower
Planned Liquidation Date
Wind-up fee
Alternative Investment Fund Manager (AIFM)
Floating Rate Debt
Fair Value
Commitment fees
Self-Storage (facility)
Bridge Loan
Construction Loan
Single Client Account
Base Interest
Manufacturing facility (industrial)
Waterfall Analysis
Income Approach (valuation technique)
Loan to equity
Interest rate hedging ratio
Asset-backed securities (ABS)
Leverage Percentage
Contingent Interest
Carve-outs (lending)
Number of assets
Fair Value Option
Fair Value (GIPS, Appraisal Institute)
Residual value to paid-in capital multiple (RVPI)
Portfolio Interest Service Coverage Ratio
Subscription secured credit facilities
Time-Weighted Return (TWR) (Fund Level)
End of maximum extendable vehicle term
Senior Living (facility)
Initial Leasing
Additional Contingent Interest
Geometrically linked TWR
Other net income
Exit LTV
Base Rent Income
Economic Share
Start of Investment Period
Cumulative TWR returns
Time-Weighted Return (TWR), property level
Commingled Fund
Modified Dietz
Opportunistic (RS Style)
Caps (Interest)
Asset-weighted composites
Paid in capital to committed capital multiple
Property
Property Protection Loan
Asset Originator
Audit costs
Market Value
Operating Model
Subordinated Creditor
Asset weighting methodology
Leverage
Reversionary income
Market Approach (valuation technique)
Claw back
Internal Rate of Return-original and projected
Net Asset Value - NAV (RS)
Legal fees (Not property specific)
Capital expenditures (CAPEX)
Investment multiple
Fair Value Accounting Policy Manual
Benchmark
Amortization Period
Make-Whole Margin
Appreciation
Redemption
Gross Assets (for fund leverage measures)
Value-added (RS Style)
Refurbishment
Internal Rate of Return - IRR (RS)
Super-Regional Mall
Style-Fund
Euro Interbank Offered Rate (EURIBOR)
Non-participating mortgage loan
Property Conversion
Cost Approach (valuation technique)
Asset weighted
Borrower sustainability credentials
Exempt fees and costs
Total Value to paid in capital multiple (TVPI)
Standing investment
Borrower sustainability scorecard
Cash management fee third party
Distributions to paid-in capital (DPI) multiple
Debt Service Coverage Ratio - DSCR (RS)
Non-Operating Model
Opportunistic (INREV Style)
Feeder Vehicle
Partial Period (for TWR purposes)
Value-added (INREV Style)
Bank / loan / overdraft / debt interest
Fund management fee
Vehicle Formation Date
Time-Weighted Return (TWR)
Termination Clause
Weighted average lease expiry
Vehicle-level loan to cost
Event of Default (EOD)
Valuation costs
Internal valuation
Transfer agent costs
Investment Period
Debt Service Coverage Ratio - DSCR (INREV)
Tax effect of the adjustments
Cost of development portfolio
Initial Closing
Offer price
Property insurance costs
Taxes on property related activities
Core (RS Style)
Net investment income-Operating Model
Percentage of total capital commitments invested
Number of new / renewed loans
Other/misc. vehicle costs
Secondary Trade
Vehicle administration costs
NOI yield
Project management costs
Investment
Stepped Rent
Termination Date
Debt arrangement fee
Vehicle-level loan to value
Equity multiple-net, projected
Property management costs
Sustainable Investment
Vehicle formation costs
Gross equity multiple of vehicle realized
Acquisition
Pooled Trusts
Professional services costs
Net Zero Carbon Building
Vehicle Documentation
Weighted average cost of debt excluding shareholder loans
Bank Charges
Non-controlling effects on the INREV NAV adjustments
Total capital commitments (By all investors)
Utilities, repair and maintenance costs (non-rechargeable portion)
Open End Vehicle
Composite
CFA Institute
Property-level loan to value
Core (INREV Style)
Leverage Limits
Distributions
External leasing commissions
Final closing
Single Account
Fair value of vehicle according to INREV guidelines
Vacancy (Based on estimated rental value)
INREV Guidelines
All-in Interest Rate
Global Investment Performance Standards (GIPS®)
Vehicle Manager
Gross property return
Emerging Issues Task Force (EITF)
Internal Rate of Return-starting from inception to end-projected-net
Property Manager
Vacancy (Based on leasable floor space)
Weighted average maturity of debt excluding shareholder loans (Years)
Nominal value of debt excluding shareholder loans
Equity multiple- gross, projected
Internal Rate of Return-net
Life Insurance Separate Account
Joint Venture
Custodian costs
Internal Rate of Return-gross
International Financial Reporting Standards (IFRS)
Target percentage of (re)development exposure
Void rate
Fair value of investment portfolio
Internal Rate of Return-starting from inception to end-projected-gross
Fund Manager
Uniform Standards of Professional Appraisal Practice (USPAP)
Net return
Target return derived from income
Waterfall calculation
Internal Rate of Return-realized (Gross) vehicle
Project management fee (excl. development activities)
Investment Advisor
Loan Covenants
Weighted average cost of debt
Pension Real Estate Association (PREA)
Internal leasing commissions
Accounting Standards Update (ASU)
Style
Club Deal
Internal Rate of Return-since inception gross of fees
Closed End Vehicle
International Valuation Standards Council (IVSC)
Fund
Reporting standards - handbook volume I and II
Fair value (IFRS definition)
Allocated Loan Amount
Maximum LTV
Total return (net and unlevered)
Total current outstanding capital
Carried interest
Vehicle
Net Operating Income (NOI)
Asset Manager
Fair Value Net Asset Value (FV NAV)
Gross return
INREV
Capital expenditure (Capex) Facility
Investment Manager
Total return net to investor
ANREV
Property Management Fee
Dead deal costs
Assets under Management (AUM)
Total capital commitment drawn
National Council of Real Estate Investment Fiduciaries (NCREIF)
Property acquisition costs
Internal Rate of Return-since inception net
Equity multiple (Gross)
Target percentage non-income producing investments
Property disposition costs
Property acquisition fee
Income return
Equity multiple (Net)
Distribution-dividend yield
Real Estate Expense Ratio (REER)
ADC Arrangements
Net Asset Value - NAV (INREV)
Internal Rate of Return - IRR (INREV)
Total Expense Ratio (TER)
Interest Payment Date (IPD)
Property disposition fee
Performance fee
Asset management fee
Fee reductions/rebates
Gross asset value of vehicle (Including pro rata share in joint ventures)
Net financing cost
Gross initial yield
Estimated Rental Value (ERV)
Reversionary yield
Attachment Point LTV
Net equivalent yield
Net Initial Yield (NIY)