Glossary of commercial real estate finance,loan terms and definitions.
Note: The information contained in this section is for general information purposes only and is provided without warranty of any kind.
- Abatement
- Above Building Standard
- Absorption
- Absorption Rate
- Acre
- Ad valorem
- Adjusted funds from operations
- Anchor
- Anchor Tenant
- Appraisal
- ''As Is'' Condition
- Assessment
- Asset management
- Asset management fee
- Asset turnover
- Assets under management
- Assignee name
- Assignment
- Attorn
- Available Office Space
- Average common equity
- Average downtime
- Average free rent
- Average occupancy
- Average Rent Per Square Foot
- Average total assets
- Balloon Payment
- Balloon risk
- Bankrupt
- Bankruptcy
- Base principal balance
- Base rent
- Base Year
- Below-grade
- Beneficiary
- Beta
- Bid
- Book value
- Broker
- Brokerage
- Build-out
- Build-to-suit
- Buildable acres
- Building Classifications
- Building code
- Building standard plus allowance
- Bullet Loan
- Call date
- Cap Rate
- Capital appreciation
- Capital expenditures
- Capital Expenses
- Capital gain
- Capital improvements
- Capital markets
- Capitalization Rate
- Carrying Charges
- Cash flow
- Cash-on-cash yield
- Cash (or Funds) Available for Distribution
- Certificate of occupancy
- Chapter 7
- Chapter 11
- Circulation factor
- Class A
- Class B
- Class C
- Clear-Span Facility
- Closed-end fund
- Closing
- CMBS (commercial mortgage-backed securities)
- CMO (collateralized mortgage obligation)
- Co-investment
- Co-investment program
- Co-working
- Collateral
- Commercial real estate
- Commercial real estate broker
- Commingled fund
- Commodity Pool Operator (CPO)
- Common area
- Common area maintenance
- Comparables
- Concessions
- Condemnation
- Conduit
- Construction loan
- Construction Management
- Construction Starts
- Consultant
- Consumer Price Index ("CPI")
- Contiguous space
- Contract Documents
- Contract rent
- Convertible debt
- Convertible preferred stock
- Conveyance
- Core
- Core Investment
- Core-plus
- Core properties
- Cost-approach improvement value
- Cost of Capital
- Cost-of-sale percentage
- Coupon
- Covenant
- Covenant of Quiet Enjoyment
- Coworking
- Credit enhancement
- Creditworthy Tenant
- Cross-collateralization
- Cross-defaulting
- Cumulative discount rate
- Current occupancy
- Current yield
- Deal structure
- Debt service
- Debt service coverage ratio (DSCR)
- Dedicate
- Deed
- Deed in lieu of foreclosure
- Deed of trust
- Default
- Deferred maintenance account
- Deficiency judgment
- Defined-benefit plan
- Defined-contribution plan
- Demising wall
- Depreciation
- Derivative securities
- Design/Build
- Discount rate
- Discretion
- Distraint
- Diversification
- Dividend
- Dividend-ex date
- Dividend yield
- Dollar stop
- DownREIT
- Drag-Along Rights
- Due diligence
- Due on sale
- Earnest money
- Easement
- EBITDA
- Economic feasibility
- Economic rent
- Effective date
- Effective gross income (EGI)
- Effective gross rent (EGR)
- Effective rent
- Efficiency Factor
- Elective Stock Dividend
- Electronic Authentication
- Encroachment
- Encumbrance
- Endowment
- Entity Investing
- Environmental impact statement
- Equitization
- Equity
- Equity Market Cap
- Equity REIT
- ERISA (Employee Retirement Income Security Act)
- Escalation clause
- Escrow agreement
- Estoppel certificate
- Exclusive Agency
- Exclusive agency listing
- Exclusive Right to Sell or Lease
- Exclusive Use Clause
- Exit strategy
- Face rental rate
- Facility space
- FAD (funds available for distribution)
- FAD multiple
- Fair market value
- Fannie Mae (FNMA)
- Fee simple interest
- FFO (funds from operations)
- FFO multiple
- Fiduciary
- Finance Charge
- First Generation Space
- First-loss position
- First Mortgage
- First Refusal Right or Right Of First Refusal (Purchase)
- Fixed Costs
- Fixed rate
- Fixture
- Flat fee
- Flex Space
- Flexible Office Space
- Floor area ratio (FAR)
- Force majeure
- Foreclosure
- Forward commitments
- Foundation
- Four quadrants of the real estate capital markets
- Freddie Mac (FHLMC)
- Full Recourse Loan
- Full-service rent
- Fully diluted shares
- Future proposed space
- General contractor
- General Partnership
- GICS
- Glide Path
- Going-in capitalization rate
- Graduated lease
- Grant
- Grantee
- Grantor
- Gross building area
- Gross investment in real estate (historic cost)
- Gross Leasable Area (GLA)
- Gross lease
- Gross real estate asset value
- Gross real estate investment value
- Gross returns
- Ground rent
- Guarantor
- Guaranty
- Hard cost
- High-rise
- Highest and best use
- Hold Over Rent
- Hold-over tenant
- Holdbacks
- Holding period
- HVAC
- Hybrid debt
- Hybrid REIT
- Implied cap rate
- Implied Equity Market Cap
- Improvements
- Incentive fee
- Income capitalization value
- Income property
- Income return
- Indirect costs
- Individual account management
- Industrial Building
- Inflation
- Inventory
- Joint venture
- Judgment Lien
- Just compensation
- Kiosk
- Landlord’s Lien
- Landlord's warrant
- Lead manager
- Lease
- Lease agreement
- Lease commencement date
- Lease expiration exposure schedule
- Leasehold interest
- LEED® (Leadership in Energy and Environmental Design)
- Legal description
- Legal owner
- Letter of credit
- Letter of intent
- Leverage
- LIBOR (London InterBank Offered Rate)
- Lien
- Lien waiver
- Lifecycle
- Like-kind property
- Limited partnership
- Liquidity
- Listing agreement
- Loan-to-value ratio (LTV)
- Lock-box structure
- Lockout
- Long-term lease
- Loss severity
- Lot
- Low-rise
- Lump-sum contract
- Magic page
- Maker
- Mandate
- Manufacturing Building
- Mark to market
- Market capitalization
- Market rental rates
- Market study
- Market value
- Marketable title
- Master Lease
- Master Limited Partnership - MLP
- Master servicer
- Maturity date
- Mechanic's lien
- Metes and bounds
- Mezzanine financing
- Mid-rise
- Minority Investment
- Mixed-use
- Modified Gross Lease
- Mortgage
- Mortgage broker
- Mortgage constant
- Mortgage REIT (mREIT)
- Negative amortization
- Net Asset Value (NAV)
- Net asset value per share
- Net assets
- Net cash flow
- Net investment in real estate
- Net investment income
- Net operating income (NOI)
- Net present value (NPV)
- Net purchase price
- Net returns
- Net sales proceeds
- Net square footage
- Nominal yield
- Non-compete clause
- Non-discretionary funds
- Non-investment-grade CMBS
- Non-performing loan
- Non-recourse debt
- Non-Recourse Loan
- Non-residential buildings
- Normal Wear and Tear
- Offer
- Office Building
- Office Condo
- Open-end fund
- Open Space
- Operating Cost Escalation
- Operating Expenses
- Opportunistic
- Option
- Originator
- Out-parcel
- Overallotment
- Parking Ratio or Index
- Partial sales
- Participating debt
- Pass-through certificate
- Payout ratio
- Pension fund
- Performance Bond
- Plat (Plat Map)
- Pop-up Retail
- Portfolio management
- Portfolio turnover
- Positive Spread Investing (PSI)
- Power Of Sale
- Pre-let agreement
- Precast Concrete
- Preleased
- Prime Space
- Prime Tenant
- Private Debt Real Estate
- Private Equity Real Estate
- Private REITs
- Pro rata
- Punch list
- Qualified plan
- Raw Land
- Raw Space
- Real Assets
- Real Estate Investment Trust Act of 1960
- REIT
- Real Property
- Recapture
- Rehab
- REIT Modernization Act of 1999
- Renewal Option
- Rent
- Rent Commencement Date
- Rent-Up Period
- Rentable Square Footage
- Rentable/Usable Ratio
- Rental Concession
- Representation Agreement
- Recourse
- Return on Investment (ROI)
- Sale and Leaseback
- Second Generation or Secondary Space
- Second Mortgage
- Securitization
- Security Deposit
- Seisen (Seizen)
- Setback
- Setback Ordinance
- Shell Space
- Single-tenant Office Building
- Site Analysis
- Site Development
- Site Plan
- Slab
- Soft Cost
- Space Plan
- Special assessment
- Specific Performance
- Speculative Space
- Step-Up Lease (Graded Lease)
- Straight Lease (Flat Lease)
- Straight-lining
- Strip center
- Subcontractor
- Subdivision Plat
- Subordination Agreement
- Surety
- Surface Rights
- Taking
- Tax Base
- Tax Lien
- Tax Reform Act of 1986
- Tax roll
- Tenant at will
- Tenant Improvement (“TI”) Allowance or Work Letter
- Tenant Improvements
- Tenant (Lessee)
- “Time Is Of The Essence”
- Title
- Title Insurance
- Title Search
- Total Inventory
- Total Market Cap
- Total Return
- Trade Fixtures
- Triple Net (NNN) Rent
- Turn Key Project
- Under construction
- Under Construction
- Under contract
- Unencumbered
- Unimproved Land
- Unimproved Land
- UPREIT
- Usable Square Footage
- Use
- Vacancy factor
- Vacancy rate
- Vacant Space
- Valuation
- Value-added
- Variance
- Warehouse
- Warranty of Possession
- Weighted-average coupon
- Weighted Average Rental Rates
- Working Drawings
- Workletter
- Yield
- Yield maintenance premium
- Yield spread
- Zoning
- Zoning ordinance
