Glossary of Commercial Real Estate Terms
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Welcome to the A.CRE Glossary of Commercial Real Estate Terms. This is a continuously growing list of commercial real estate terms and definitions.
A huge thank you to Matthew de Klerk for donating his time to jump start this initiative.
If you don’t see a term here that you are looking for, please feel free to contact us with the terms or definitions you would like to see and we will add it to our list.
- Absorption
- Acre
- Acuity Spectrum
- Adaptive Reuse
- Add Alternate
- Adjusted Funds from Operations (AFFO)
- ADR
- Adverse Possession
- Affidavit of Title
- American-Style Waterfall
- Assignee
- Assignor
- Average Daily Rate
- Average Life
- Average Rate of Return
- Axonometric
- Balance Sheet Investing
- Balloon Payment
- Bargain and Sale Deed
- Base Year Stop
- Bid and Award Process
- BOMA
- Breakeven Occupancy
- Breakup Fee
- Bridge Loan
- Building Core
- Building Owners and Managers Association
- Buildup Rate
- Common Area Maintenance (CAM)
- Cap Rate
- Capital Expenditure
- Car Stacker
- Promote
- Cash-on-Cash Return
- Cash-Out Refinance
- Cash Sweep
- Catch Up Provision
- CCIM
- Clawback Provision
- Cold Shell
- Conceptual Design
- Concessions
- Construction Documents
- Construction Financing
- Construction-Perm Loan
- Contingency Cost
- Continuing Care Retirement Communities (CCRC’s)
- Contract Rent
- Contract Rent
- Contractor Controlled Insurance Program (CCIP)
- Core
- Core Plus
- Cost Plus Contract
- CPI Rent Escalation
- Curtailment
- DCF
- Debt Covenants
- Debt Service Coverage Ratio
- Debt Yield
- Debtor
- Deed
- Deed in Lieu of Foreclosure
- Deed in Lieu of Foreclosure
- Deed of Trust
- Defeasance
- Delaware Statutory Trust
- Design Development
- Development Spread
- Development Yield
- Direct Capitalization
- Discount Rate
- Discounted Cash Flow
- DSCR
- DST
- Earn-Out
- Earnest Money Deposit
- Stabilized Pro Forma
- Economic Vacancy
- Effective Gross Revenue
- Elevation
- Entitlement Process
- Equitable Title
- equity multiple
- Equity Multiple
- European-Style Waterfall
- Expansion Rights
- Expense Stop
- FAR
- FF&E
- Financing Memorandum
- Fixed Costs
- Fixed Rate Debt
- Floating Rate Debt
- Floor Area Ratio
- Floor to Ceiling Height
- Floor to Floor Height
- Floor Plan
- Floor Plate
- Forward Sale
- Free and Clear Return
- Full Service Gross Lease
- Full Service Hotel
- Funds from Operations (FFO)
- Furniture, Fixtures, and Equipment
- Future Value Factor
- General Contractor
- General Vacancy and Credit Loss
- General Warranty Deed
- Good News Money
- Grantee
- Grantor
- Gross Asset Value
- Ground Lease
- Guarantee of Non-Recourse Carve-Outs
- Guaranteed Maximum Price (GMP)
- Hangout and Hangout Risk
- Hard Costs
- Hectare
- Hold/Sell Analysis
- Hotel "Flag"
- HUD Home
- In arrears
- In-place Rent
- Institutional Investor
- Interest Reserve
- Internal Rate of Return
- Jingle Mail
- Joint Tenenacy
- Key Money
- Key Performance Indicator
- Land Assemblage
- Land Use Restriction Agreements (LURA)
- Lease Depth
- Leasehold Interest
- Leasing Commissions
- Legal Title
- Lessee
- Lessor
- Letter of Intent
- Levered Cash Flow
- Limited Partner
- Limited Service Hotel
- Limited Warranty Deed
- Load Factor
- Loan Amortization
- Loan to Cost
- Loan to Value
- Loan Workout
- Lock Out
- Lock Out Period
- Loss-to-Lease
- Lump Sum Contract
- Make Ready Costs
- Market Rent
- Master Tenant
- Metropolitan Statistical Area
- Mezzanine Debt
- Millage Rate
- MOIC
- Monte Carlo Method
- Mortage Loan Duration
- Mortgage Constant
- Mortgagee
- Mortgagor
- MSA
- Multiple on Invested Capital
- Municipal Bond
- Net Effective Rent
- Net Lease
- Net Operating Income
- NOI
- Non-Disclosure State
- Non-Recourse Carve-Outs
- Occupancy Cost
- Occupancy Cost Percentage
- Offering Memorandum (OM)
- Operating Supplies and Equipment
- Opportunistic
- Opportunity Zones
- Option Agreement
- OS&E
- Other Income
- Owner Controlled Insurance Program (OCIP)
- Owner's Affidavit
- Paid in arrears
- Pari Passu
- Parking Income
- Crystallization
- Permanent Financing
- Preferred Return
- Premier Suburb
- Prepayment Penalty
- Present Value
- Present Value Factor
- Project Buyout
- PSA
- Purchase and Sale Agreement
- Quitclaim Deed
- Ratio Utility Billing System (RUBS)
- Real Estate Investment Trust (REIT)
- Real Estate Private Equity (REPE)
- Recourse
- Renewal Option
- Rent Control
- Rent Roll
- Rentable Area
- Replacement Cost
- Residual Land Value Analysis
- Residual Pro Forma
- Retention
- REVPAR (Revenue Per Available Room)
- RevPAR
- Right of First Refusal
- ROFR
- Sale Leaseback
- Schematic Design
- Seller's Title Affidavit
- Short Sale
- Soft Costs
- Sources and Uses
- Special Servicer
- Special Servicer
- Special Warranty Deed
- Specific Performance
- Specifications Manual (Spec Book)
- Sponsor
- Springing Recourse
- Stacking Plan
- Stochastic Analysis
- Storage Income
- Structured Parking
- Subcontractor
- Takeout Loan
- Tax Increment Financing
- Temporary Certificate of Occupancy
- Tenancy By The Entirety
- Tenant
- Tenant Estoppel Certificate
- Tenant Improvements
- Tenant Rollover Risk
- Tenants in Common (TIC)
- Income Approach
- Time Value of Money
- Title Affidavit
- Title Insurance
- Total RevPAR
- Trailing Twelve Months
- Transfer Tax
- Trended Rents
- TRevPAR
- Trophy Asset
- Under Water
- Unlevered Cash Flow
- Urban Infill
- Usable Area
- Valet Trash
- Value Add
- Variable Costs
- Vertical Expansion Option
- Walkability
- Wall Street Prime Rate
- War Room
- Warm Shell
- Wrap Up Insurance
- Yield Maintenance
- Yield-on-Cost
- Zero Cash Flow Property