Built to Suit in Commercial Real Estate
In a built to suit lease, a developer builds a property specifically for the use of one tenant. Generally, a tenant will locate a developer who is willing to pu
Commercial Real Estate Finance
Everything tagged Commercial Real Estate Finance in the Commercial Real Estate Glossary.
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Blend and Extend Amendments in Commercial Real Estate
In commercial leasing, a blend and extend amendment is allows a tenant to extend their lease and negotiate a new rate, merging, or “blending” the new and old re
Real Estate Debt Funds in Commercial Real Estate
For commercial real estate borrowers, debt funds often offer loans that banks can’t-- or won’t offer, including commercial construction loans, bridge loans/leas
Dark Shell in Commercial Real Estate
A dark shell refers to a commercial property that is leased to a tenant without interior improvements, such as heating, lighting, interior walls, plumbing, or a
Adaptive Reuse in Commercial Real Estate
In commercial real estate, adaptive reuse occurs when an older building is adapted for a different use than it was originally designed for.
Intercreditor Agreement in Commercial Real Estate
In commercial real estate, an intercreditor agreement is an agreement between two lenders that stipulates the rights and responsibilities of each party. Intercr
Recapture Clause in Commercial Real Estate
In commercial leasing, a recapture clause permits a landlord to terminate a lease early, and may also allow them to demand all or part of the remaining lease pa
Infill Development in Commercial Real Estate
In commercial real estate, infill is defined as the development of unused land in urban areas. This commonly takes the form of developing an empty lot of land b
Capital Stack in Commercial Real Estate
In commercial real estate finance, the capital stack is the legal organization of all the layers of debt that are used to purchase, build, or renovate a piece o
UBP: Unpaid Principal Balance in Commercial Real Estate
In commercial real estate finance, unpaid principal balance, or UPB, is the amount of a loan’s principal balance that has not yet been paid back to a lender. To
DSCR: Debt Service Coverage Ratio
Debt service coverage ratio or DSCR, is a comparison between net operating income and debt service on an annual basis and is generally one of the most important
MSA: Metropolitan Statistical Area in Commercial Real Estate
Metropolitan Statistical Areas, or MSAs, are U.S. government designations for specific urban areas. MSAs are defined by the U.S. Office of Management and Budget
Due Diligence in Commercial Real Estate
Due Diligence refers to the practice of investigating or auditing a prospective investment in order to confirm facts. The audit includes analyzing different asp
CMBS: Commercial Mortgage Backed Securities in Commercial Real Estate
A Commercial Mortgage Backed Security (CMBS) loan is a fixed income security backed by a commercial mortgage. These loans are for commercial property such as ma
Conduit Loan in Commercial Real Estate
A conduit loan, also known as a CMBS loan, is a commercial real estate loan which is secured by a mortgage on a commercial property. These loans are structured
Holdbacks in Relation to Commercial Property Loans
A holdback is a clause in the commercial property loan that seeks to put aside a certain portion of the loan until an objective has been accomplished. Holdbacks
CapEx: Capital Expenditure in Commercial Real Estate
Capital expenditure or "CapEx" are the funds used to acquire, upgrade or repair the property. It also includes the acquisition of equipment for said property. A
NOFA: Notice of Funding Availability in Commercial Real Estate
NOFA or Notice of Funding Availability is a statement issued by the GRRHP (under the USDA) in the Federal Register. The statement will contain information on t
GRRHP: Guaranteed Rural Rental Housing Program in Commercial Real Estate
The GRRHP or Guaranteed Rural Rental Housing Program is a federal government initiative which backs loans made by private lenders to developers of rural homes.
FHLB: Federal Home Loan Banks in Commercial Real Estate
An FHLB (sometimes referred to as an FHLBank) or Federal Home Loan Bank is a region based bank that is part of a federally backed group of banks who provide hou
CFR: Code of Federal Regulations in Commercial Real Estate
CFR stands for Code of Federal Regulations. The CFR is the codification of the general andpermanent rules and regulations published in the Federal Register by t
AMI: Area Median Income in Commercial Real Estate
AMI stands for Area Median Income and is a statistic published by HUD. It is the household income of the median (middle) household in an area. HUD releases the
HUD in Relation to Commercial Real Estate?
HUD is the term used to describe The United States Housing and Urban DevelopmentDepartment, which is the federal department tasked with creating decent housing
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