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Glossary of Real Estate Terms


This Glossary has been provided as a courtesy to assist you in gathering information relative to your commercial real estate financing needs and has been linked to various pages within the Terrace Capital website for your convenience. If you do not find what you're looking for in this glossary, please do not hesitate to contact us. Thank you for your consideration.

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1031 Exchange
AAA Tenant
Abandonment
Abatement
Above Building Standard
Absorption Rate
Abstract of Judgment
Abstract of Title
Acceleration Clause
Accommodation Recording
Acknowledgment
Acquisition and Development Loan (A&D Loan)
Acre
Ad Valorem
Advisory Services
Add-On Factor
Allowance Over Building Shell
Amendment
American Land Title Association (ALTA)
Amortization
Anchor Tenant
Anchored Centers
Annual Loan Constant
Annual Percentage Rate (APR)
Appraisal
Appreciation
As-Is Condition
Assessment
Assignment
Average Daily Rate (ADR)
Average Life
Bankrupt
Bankruptcy
Base Rent
Base Year
Basis Points
Below-grade
Bridge Loan
Building Classifications
Building Code
Building or "Core" Factor
Building Owners & Managers Association (BOMA)
Building Standard
Building Standard Plus Allowance
Build-out
Build-To-Suit
Bullet Loan
Capital Expenses
Capital (Reserves) Expenditure (CAP-X)
Capitalization
Capitalization Rate
Carrying Charges
Carve-outs
Certificate of Occupancy
Chapter 7
Chapter 11
Circulation Factor
Clear-Span Facility
Closing Costs
Commercial Bank
Commitment Fee
Commitment Letter
Common Area
Common Area Maintenance (CAM)
Comparables
Concessions
Condemnation
Conduit
Constant
Construction Loan
Construction Management
Consumer Price Index ("CPI")
Contiguous Space
Contract Documents
Conveyance
Core Factor
Correspondent
Cost Approach
Covenant
Covenant of Quiet Enjoyment
Cross-Collateralization
Cumulative Discount Rate
Debt Service Coverage Ratio (DSCR)
Debt Service
Dedicate
Deed
Deed In Lieu Of Foreclosure
Deed Of Trust
Default
Defeasance
Deficiency Judgment
Demising Walls
Design/Build
Depreciation
Discount Rate
Distraint
Dollar Stop
Earnest Money
Easement
Economic Feasibility
Economic Rent
Effective Gross Income (EGI)
Effective Rent
Efficiency Factor
Eminent Domain
Encroachment
Encumbrance
Environmental Impact Statement
Equity
Equity Participation
Escalation Clause
Estoppel Certificate
Escrow Agreement
Exclusive Agency Listing
Expense Ratio
Expense Stop
Fair Market Value
Federal National Mortgage Association (FNMA)
Fee Simple
Finance Charge
First Generation Space
First Mortgage
First Refusal Right or Right Of First Refusal (Purchase)
First Refusal Right or Right Of First Refusal (Adjacent Space)
Fixed Expenses
Flex Space
Floor Area Ratio (FAR)
Force Majeure
Forward Commitment
Foreclosure
Full Recourse
Full Service Rent
Fully Amortized Mortgage (Loan)
Future Proposed Space
General Contractor
General Partner
Graduated Lease
Grant
Grantee
Grantor
Gross Absorption
Gross Building Area
Gross Lease
Ground Rent
Guarantor
Guaranty
Highest and Best Use
High Rise
Hold Over Tenant
HVAC
Improvements
Indirect Costs
Internal Rate of Return (IRR)
Inventory
Investment Bank
Judgment
Judgment Lien
Just Compensation
Landlord's Lien
Landlord's Lien or Warrant
Lease
Lease Agreement
Lease Commencement Date
Leasehold Improvements
Legal Description
Legal Owner
Letter Of Attornment
Letter Of Credit
Letter Of Intent
Lien
Lien Waiver (Waiver of Liens)
Like-Kind Property
Limited Partnership
Listing Agreement
Long Term Lease
Lot
Low Rise
Lump-Sum Contract
Maker
Market Rent
Market Study
Marketable Title

Master Lease
Mechanic's Lien
Metes and Bounds
Mid-Rise
Mixed-Use
Mortgage
Net Lease
Net Rentable Area
Net Square Footage (S.F.)
Non-Compete Clause
Non-Recourse Loan
Normal Wear and Tear
Open Space
Operating Cost Escalation
Operating Expenses
Operating Expense Escalation
Parking Ratio or Index
Partial Taking
Pass Throughs
Percentage Lease
Performance Bond
Plat (Plat Map)
Power Of Sale
Precast Concrete
Preleased
Prime Space
Prime Tenant
Pro rata
Punch List
Quitclaim Deed
Raw Space
REO (Real Estate Owned)
Real Estate Journal Online
Real Property
Recapture
Recourse
Rehab
Renewal Option
Rent
Rent Commencement Date
Rentable Square Footage
Rentable/Usable Ratio
Rental Concession
Rent-Up Period
Representation Agreement
Request for Proposal ("RFP")
Right Of First Refusal
Sale-Leaseback
Second Mortgage
Second Generation or Secondary Space
Security Deposit
Seisen (Seizen)
Setback
Setback Ordinance
Shell Space
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)
Strip Center
Subcontractor
Subdivision Plat
Subordination Agreement
Surety
Surface Rights
Survey
Tax Base
Tax Lien
Tax roll
Tenant (Lessee)
Tenant At Will
Tenant Improvements
Tenant Improvement ("TI") Allowance or Work Letter
Time Is Of The Essence
Title
Title Insurance
Title Search
Total Inventory
Trade Fixtures
Triple Net (NNN) Rent
Turn Key Project
Under Construction
Under Contract
Unencumbered
Unimproved Land
Use
Usable Square Footage
Vacancy Rate
Vacant Space
Variance
Warranty of Possession
Weighted Average Rental Rates
Workletter
Working Drawings
Zoning
Zoning Ordinance

 

 

 

 

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