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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 real estate.
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Improvements:
In the context of leasing, the term typically
refers to the improvements made to or inside a
building but may include any permanent structure
or other development, such as a street,
sidewalks, utilities, etc. |
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Indirect Costs:
Development costs, other than material and labor
costs which are directly related to the
construction of improvements, including
administrative and office expenses, commissions,
architectural, engineering and financing costs. |
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Internal Rate of Return (IRR):
The true annual rate of earnings on an
investment. Equates the value of cash invested
with cash returns. Considers the application of
compound interest factors. |
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Inventory:
The total amount of rentable square feet of
existing and any forthcoming space (whether it
be a tenant vacating space or new buildings
coming on the market), in a given category, for
example, all warehouse space in a specified
submarket. Inventory refers to all space within
a certain proscribed market without regard to
its availability or condition, and categories
can include all types of leased space such as
office, flex, retail and warehouse space. |
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Investment Bank:
A lending institution that is both a direct
lender as well as an intermediary. |
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