Global Definitions Database
The Global Definitions Database (GDD) is the leading global source of definitions for the non‐listed real estate sector.
Global definitions are an important step towards producing global standards and aligning the INREV Guidelines with the NCREIF PREA Reporting Standards. The GDD provides a common glossary of non-listed real estate terms. Many terms have been agreed to globally, while others are specific to Asian, European and North American standards, guidelines and data products. This has been indicated in the source.
A common set of terms is a critical component of the global standardisation initiative and our interactive online tool makes them easily accessible. This provides the industry with one unique depository of definitions that will help increase transparency and align the industry globally.
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Net Initial Yield (NIY)
The passing rent or net operating income divided by the gross property value including notional acquisition costs.
Net equivalent yield
A time-weighted average of the net initial yield and reversionary yield, representing the return a property will produce based upon the timing of the ...
Reversionary yield
The estimated rental value as a percentage of gross property value.
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Recallable Capital
Also known as recyclable capital, returned capital that can be recalled by the investment manager, in accordance with the Vehicle Documentation. The e...
Unfunded Commitment
See definition of Outstanding Capital Commitment.
Outstanding Capital Commitment
Outstanding capital commitment also known as Unfunded Commitment, uncalled capital or remaining capital commitment represents the total unexpired capi...