Global Definitions Database
Access, learn and discover all terms related to the non-listed real estate sector.
J
J Curve
An investment cash flow pattern in which an investment initially requires a significant amount of negative cash flow in the early years of investment with positive cash flow distributions occurring later in the life cycle of the investment.
Japanese Real Estate Investment Trust (J REIT)
A corporation-type closed-end fund listed on the Tokyo Stock Exchange (TSE), where the investment units are publicly traded.
Jensen’s Alpha
A risk-adjusted performance measure that represents the average return on a portfolio or investment, above or below that predicted by the capital asset pricing model (CAPM), given the portfolio's or investment's beta and the average market return.
Job creation
(Related to Impact Investing) Additional jobs created as a direct result of an investment. An impact investment strategy may focus on employment for vulnerable or disadvantaged groups.
Joint Venture
A Vehicle with at least two parties with a common investment objective. Control over significant investment and risk management decisions is not transferred to an external manager, but is exercised by members in the venture per the Vehicle Documentation.
Junior Debt
Debt that has a lower priority for repayment than first ranking debt claims in the case of a borrower's default. It is a type of subordinated debt.
Junior Debt/Loan/Mortgage
A debt financing obligation issued to a company or an individual by a bank or similar financial institution which is lower in priority to a first or more senior debt/loan/mortgage.