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Real Estate Dictionary

What is the MOIC formula?

The MOIC formula calculates the multiple of returned capital on an investment by dividing the exit value by the invested capital, indicating how many times the initial investment was made back.

March 9, 2024

What does CTL mean in real estate?

A Credit Tenant Lease (CTL) is a real estate investment strategy involving long-term leases to financially strong tenants, where the lease payments secure mortgage debt and offer investors a predictable income stream with a lower risk profile.

March 9, 2024

What is an UPREIT in real estate?

An UPREIT is a real estate investment structure that allows property owners to contribute their properties to a partnership in exchange for units that can be converted into REIT shares, deferring capital gains taxes and gaining liquidity and investment diversity.

March 9, 2024

What is CAM reconciliation?

CAM reconciliation involves calculating and adjusting the actual Common Area Maintenance (CAM) expenses incurred by a landlord over a specified period, typically a year, against the estimated charges paid by the tenants.

March 9, 2024

What is a gateway market?

A gateway market is a major, strategically located market that serves as an entry point for investors and companies into broader, international markets, characterized by high liquidity, developed infrastructure, and significant economic activity.

March 9, 2024

What are bad boy carve-outs in real estate?

"Bad boy carve-outs" are clauses in real estate loan agreements that make borrowers personally liable for certain wrongful acts, turning a non-recourse loan into a recourse one if these specific actions, ranging from fraud to failure in maintaining insurance, are committed.

March 9, 2024

What does conformity mean in real estate?

Conformity in real estate is the principle that a property's value increases when it closely matches the surrounding properties in use, style, size, and age, enhancing its desirability and appeal.

March 9, 2024

What is a location quotient?

A location quotient (LQ) is a measure used in economic geography and regional planning to analyze the concentration of a particular industry, occupation, or demographic feature within a region compared to a larger reference area, typically the national level.

March 9, 2024

What is the difference between net area and gross area?

Gross area refers to the total enclosed space of a building including common areas, while net area denotes the usable space available for a tenant's exclusive use, excluding common areas and structural elements.

March 9, 2024

What is a CELOC in real estate?

In real estate, CELOC stands for Commercial Equity Line of Credit. It is a type of financing that allows property owners to access the equity in their commercial property as a flexible line of credit.

March 9, 2024
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