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All Global Definitions

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A

Absolute energy
Account Report
Accounting Standards Update (ASU)
Acquisition
ADC Arrangements
Additional Contingent Interest
All-in Interest Rate
Allocated Loan Amount
Alternative Investment Fund (AIF)
Alternative Investment Fund Manager (AIFM)
Amortization Period
ANREV
Appreciation
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
Assignment / Transfer clauses
Attachment Point LTV
Audit costs
Authorised Management Company

B

Bank / loan / overdraft / debt interest
Bank Charges
Base Interest
Base Rent Income
Benchmark
Borrower
Borrower sustainability credentials
Borrower sustainability scorecard
Boundaries
Break Costs
Bridge Loan
Building energy intensity
Building GHG intensity
Building types
Building water intensity
Bullet Repayment

C

Capital expenditure (Capex) Facility
Capital expenditures (CAPEX)
Capital gain / loss (Realized)
Capital gain / loss (Unrealized)
Capital Structure
Caps
Carbon Disclosure Project
Carbon trading
Carried interest
Carve-outs (lending)
Cash management fee third party
Cash Sweep
Catch-up
CFA Institute
Claw backs
Closed End
Club Deal
Commercial mortgage-backed securities (CMBS)
Commingled Fund
Commitment
Commitment fees
Commitment period
Common parts
Community Center
Compensation Prepayment Proceeds
Composite
Conditions Precedent
Conditions Subsequent
Construction Loan
Contingent Interest
Contingent liabilities
Contractual Interest
Contractual Principal
Controlling Equity Interest
Core (INREV Style)
Core (RS Style)
Cost Approach (valuation technique)
Cost of development portfolio
Costs of Sale
Credit Committee
Credit Default Swap (CDS)
Credit enhancements
Credit Rating
Cross Collateralization
Cumulative returns
Cure Rights
Currency exposure
Current development exposure as percentage of GAV
Custodian costs

D

Dead deal costs
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
Deferred taxes
Deposit Account
Development
Development Facility
Development fee
Development Margin
Discount margin
Discretion
Disposals Account
Disposition
Distribution fee
Distribution-dividend yield
Distributions
Distributions to paid-in capital (DPI) multiple
District heating and cooling
Dividend Payment
Duty of Care Agreement

E

Economic Share
Effective Property Share
Emerging Issues Task Force (EITF)
End of Investment Period
End of maximum extendable vehicle term
Equity multiple (Gross)
Equity multiple (Net)
Equity multiple- gross, projected
Equity multiple-net, projected
Equity-share
Estimated Rental Value (ERV)
Euro Interbank Offered Rate (EURIBOR)
Event of Default (EOD)
Excluded Recovery Proceeds
Exempt fees and costs
Exit LTV
Expansion
External leasing commissions

F

Facility Agent
Fair Value
Fair Value (GIPS, Appraisal Institute)
Fair value (IFRS definition)
Fair Value Accounting Policy Manual
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 reductions/rebates
Fee waivers
Feed-in-Tariffs
Final closing
Financial Accounting Standards Board (FASB)
Financial control
Financial Covenants
Financing Company
Financing fee
First Ranking Mortgage
Fixed and floating charges over assets
Fixed Rate Debt
Fixed Rate Recourse Debt
Flex Space
Flexibility for alternative use
Floating Rate Debt
Floor area
Foreign exchange difference
Foundational Standards
Free Rent
Fugitive emissions
Fund
Fund /Account(s)
Fund management fee
Fund Manager
Fund Net Sale Proceeds Share
Funds of funds

G

Garden-type Projects
General Partner (GP)
Generally Accepted Accounting Principles (GAAP)
Geometrically linked
Global Investment Performance Standards (GIPS®)
Governmental Accounting Standards Board (GASB)
Greenhouse gas (GHG) emissions
Gross asset value of vehicle (Including pro rata share in joint ventures)
Gross Assets (for fund leverage measures)
Gross equity multiple of vehicle realized
Gross initial yield
Gross operating income
Gross property return
Gross property value
Gross return
Gross Sales Price
Grouping
Guarantee

H

Healthcare
Hedged %
Hedging Arrangement/Agreement
hedging instruments
High Quality Liquid Assets (HQLA)
High-rise Elevator Projects
Highest and Best Use
Historical Interest Cover Ratio (Historical ICR)
Hold Period
Hurdle Rate
HVAC

I

Inception date
Inception date (Fund)
Income Approach (valuation technique)
Income return
Industrial Revenue Bonds
Information Covenants
Initial Closing
Initial Leasing
INREV
INREV Guidelines
Insurance Prepayment Proceeds
Intercreditor Agreement
Interest Payment Date (IPD)
Interest Period
Interest Rate
Interest rate hedging ratio
Interest Rate Swaps
Interest reserve account
Internal leasing commissions
Internal Rate of Return - IRR (INREV)
Internal Rate of Return - IRR (RS)
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 Financial Reporting Standards (IFRS)
International Valuation Standards Council (IVSC)
Investee
Investment
Investment Advisor
Investment Company
Investment level
Investment Management Company
Investment Manager
Investment margin (Spread)
Investment multiple
Investment Period

J

Joint Venture

K

Key men clause

L

Land
Lease Area
Legal fees (Not property specific)
Legal Property Share
Letter of credit (LOC)
Leverage
Leverage Limits
Leverage Percentage
Life Insurance Separate Account
Limited Liability Company
Limited Liability Partnership (LLP)
Limited Partner
Limited Partnership (LP)
Liquidity Coverage Ratio (LCR)
Loan Amortisation
Loan Amortization Period
Loan Covenants
Loan Lockout Period
Loan to Cost (LTC)
Loan to equity
Loan to Value (LTV)
London Interbank Offered Rate (LIBOR)
Low-rise Projects

M

Make-Whole Margin
Make-Whole Provision
Mandatory disclosure requirements
Manufactured
Manufacturing
Margin
Mark-to-Market
Market Approach (valuation technique)
Market Vacancy
Market Value
Marketing costs
Material Adverse Effect
Maturity Date
Maximum LTV
Mezzanine Debt
Minimum Capital Requirement (MCR)
Modified Dietz
Mortgage Company
Multi manager

N

National Council of Real Estate Investment Fiduciaries (NCREIF)
Neighborhood Center
Net Asset Value - NAV (INREV)
Net Asset Value - NAV (RS)
Net Debt Yield
Net equivalent yield
Net financing cost
Net Initial Yield (NIY)
Net investment income-Operating Model
Net Operating Income (NOI)
Net return
Net Sale Price
NOI yield
Nominal value of debt excluding shareholder loans
Non-controlling effects on the INREV NAV adjustments
Non-Controlling Equity Interests (Minority Interest)
Non-Operating Model
Non-participating mortgage loan
Non-Recourse Debt
Number of assets
Number of new / renewed loans

O

Obligor
Offer price
Office Showroom
Open End
Open-end Commingled Fund
Operating Model
Operating or Stabilized
Operating Property
Operational control
Operational results
Opportunistic (INREV Style)
Opportunistic (RS Style)
Other net income
Other/misc. vehicle costs
Outlet Center
Over the Counter (OTC)

P

Paid in capital
Paid in Capital Multiple
Paid in capital to committed capital multiple
Parking
Partial Period
Participated Loan
Participating mortgage
Partnership
Payment in Kind (PIK) interest/ Accrued Interest
Pension Real Estate Association (PREA)
Percentage of total capital commitments invested
Percentage Rent
Performance Attribution
Performance Bond
Performance fee
Permitted Payment
Persons
Placement agent costs
Planned Liquidation Date
Pooled Trusts
Portfolio Interest Service Coverage Ratio
Power Center
Predevelopment
Prepayment
Prepayment Fees
Prepayment Penalty
Private Placement
Professional services costs
Project management costs
Project management fee (excl. development activities)
Property
Property acquisition costs
Property acquisition fee
Property Company
Property Conversion
Property disposition costs
Property disposition fee
Property insurance costs
Property Management Company
Property management costs
Property Management Fee
Property Manager
Property Market Vacancy
Property Protection Loan
Property-level loan to value
Property-related taxes
Public/Private Partnership (PPP)

R

Real Estate Expense Ratio (REER)
Realization Multiple
Recallable capital
Recommended Standard (element)
Recourse Debt
Recovery Payment Proceeds
Redemption
Redemption fees
Redevelopment
Refurbishment
Regional Mall
Registered Investment Advisor (RIA)
Regulatory / Statutory costs
Reimbursement Income
Related parties
Remaining capital commitment
Renewable energy
Renovation
Replacement Costs
Report
Reporting standards - handbook volume I and II
Required standard
Research and Development
Residential Mortgage-Backed Securities (RMBS)
Residual multiple
Residual value
Residual value to paid-in capital multiple (RVPI)
Restrictions on transfer
Reversionary income
Reversionary yield
ROI (Return on Investment)

S

Second Mortgage
Secondary Trade
Securities handling charges
Segregated Account
Self-Storage
Senior Living
Separate Accounts
Set-up costs
SFAS
Single Account
Single Client Account
Single-Tenant
SOP
Special Purpose Vehicle (SPV)
Stabilized Expenses
Stabilized Income
Stabilized Net Income
Stabilized Occupancy
Staff costs
Start of Investment Period
Stepped Rent
Strategy-Account
Style
Style- Account
Subscription Agreement
Subscription fee
Subscription secured credit facilities
Super-Regional Mall
Surety Bond
Sustainability scorecard
Syndicated loan purchaser

T

Target percentage non-income producing investments
Target percentage of (re)development exposure
Target return derived from income
Tax effect of the adjustments
Taxes on property related activities
Termination Clause
Termination Date
Termination Date (Scheduled: Closed-end Fund)
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
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)
Transaction offsets
Transfer agent costs
Trustee Costs

U

Uniform Standards of Professional Appraisal Practice (USPAP)
Utilities, repair and maintenance costs (non-rechargeable portion)

V

Vacancy (Based on estimated rental value)
Vacancy (Based on leasable floor space)
Valuation
Valuation costs
Value-added (INREV Style)
Value-added (RS Style)
Vehicle
Vehicle administration costs
Vehicle Documentation
Vehicle formation costs
Vehicle Formation Date
Vehicle Manager
Vehicle-level loan to cost
Vehicle-level loan to value
Void rate

W

Warehouse
Waste by disposal route
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
Wind-up fee