SDDS Wiring-Guide

Accounting basis

Cash or accrual

Accounting standard

Indicates the accounting standard used to fill in the SDDS for the underlying vehicle, e.g., Luxembourg GAAP, IFRS-EU, US GAAP. Please provide details in case of vehicle specific accounting standard.

Acquisition date

In case of acquisition during the period, date of completion of acquisition of the asset. 

Acquisition expenses (amortised over five years)

Under the fair value model, acquisition expenses of an investment property are effectively charged to income when fair value is calculated at the first subsequent measurement date after acquisition. This results in the fair value of a property on subsequent fair value measurement being lower than the total purchase price of the property, all other things being equal.  Property acquisition expenses should be capitalised and amortised over the first five years after acquisition of the property.  The rationale to capitalise and amortise acquisition expenses is to better reflect the duration of the economic benefits to the vehicle of these costs.    When capitalising and amortising acquisition costs, a possible impairment test should be taken into account every time the adjusted NAV is calculated when market circumstances change and it is not expected that the capitalised acquisition costs can be utilised with the sale of units of a vehicle.  When a property is sold during the amortisation period or is classified as held for sale, the balance of capitalised acquisition expenses of that property should be expensed. 

Acquisition expenses (amortised over holding period)

For pricing purposes only. Amortisation periods of acquisition expenses should be adapted to the planned holding period of a vehicle. For evergreen vehicles, asset specific features should determine the amortisation period and, in their absence, a 10-year period is recommended unless there is a specific asset feature which requires deviation from this period. The approach and rationale should be disclosed in the constitutional documentation when the investment vehicle is being launched. See INREV Governance module for more details.

Address 1

Main address, name of the street on which the asset is located

Address 2

The number of a building / house of the asset (includes suffix)

Adjusted net asset value for pricing purposes

Represents the adjusted vehicle NAV for pricing purposes, using the INREV NAV or another NAV as a base. It can be calculated as sum of #4.3 and #4.4. See INREV Governance guideline G09 for details on open end fund pricing best practice.

Adjustment for other fee adjustments

Any adjustments performed as a result of different share classes (net basis)

Amount of capital expenditure (re)development

Costs related to capital improvements for redevelopments that lengthen the life and increase the value of the assets.

Amount of capital expenditure for standing investments & initial leasing

Costs related to capital improvements for an standing investments and initial leasing that lengthen the life and increase the value of the assets. This is an addition to any maintenance operating expenses. 

Amount of new / renewed debt facilities

Total value of new third party debt facilities (additional borrowing / refinancing) during the reported period. This excludes shareholders' loans and lease liabilities.

Area unit of measurement

Please select from dropdown list the unit of area measurement to indicate the unit measurement for all data fields related to area.

Asset capital return

Asset capital returns on a time-weighted basis reflect the performance of the respective operating asset. See Performance Measurement Module of the INREV Guidelines for detailed calculation PM21.

Asset income return

Asset income returns on a time-weighted basis reflect the performance of the respective operating asset. Net investment income of the asset divided by NAV of the asset plus the time weighted (daily) contributions for the measurement period (TwdC) minus the time weighted (daily) redemptions for the measurement period (TwdR) and minus the time weighted (daily) distributions for the measurement period (TwdD). See Performance Measurement Module of the INREV Guidelines PM20.

Asset level total return

Time-weighted net and unlevered return. See Performance Measurement Module of the INREV Guidelines PM19. Asset level total return reflect the Asset level total returns on a time-weighted basis reflect the performance of the respective operating asset. Reference is made to  Performance Measurement Module of the INREV Guidelines PM19.

Asset life cycle

Current life cycle stage for the asset (e.g. Pre-development, development, etc.)

Asset management fees

Fee typically charged by investment advisors, or managers, for their services regarding the management of the vehicle’s assets. See INREV Fee and Expense Metrics module for detailed services included in the asset management fee.

Asset management fees

Fee typically charged by investment advisors, or managers, for their services regarding the management of the vehicle’s assets. See INREV Fee and Expense Metrics module for detailed services included in the asset management fee.

Asset management fees- portion incl. in REER

Portion of Asset management fees allocated to TGER. The investment manager should use best judgement to split its asset management fee services between what is directly attributable to the building and the vehicle management activities, e.g. strategic input, production of asset level business plan. Click here for details around INREV Fee and expense metrics.

Asset management fees- portion incl. in TGER

Portion of Asset management fees allocated to TGER. The investment manager should use best judgement to split its asset management fee services between what is directly attributable to the building and the vehicle management activities, e.g. strategic input, production of asset level business plan. Click here for details around INREV Fee and expense metrics.

Asset name

A text description of the name of the asset. This describes land and/or building(s)

Asset sub-type

Asset sub-type depends on the asset type. (eg for residential: student housing, social housing, etc). If the share of market rent of any single sub-asset use type is greater than 50% select this as the main asset use. If none of the types has a share greater than 50%, the asset sub type should be defined as mixed.

Asset type

Asset use (eg retail, office, industrial, residential, etc).  Main asset use is determined by the local authority classification or is manager defined. If the share of market rent of any single asset use type is greater than 50% select this as the main asset use. If none of the types has a share greater than 50%, the asset type should be defined as mixed.