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