These are a set of elevators adjacent to one another. They are usually part of a system in a high-rise building with elevators that go to different floors in order to increase efficiency.
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Future Value
Otherwise referred to as FV, future value is the value of a current asset at a specified future date on an assumed rate of growth. Understanding an asset's future value gives investors and financial planners an estimate of the...
Co-investment
This is the term used when multiple groups of funds or pension funds share the ownership of a particular real estate property. In this arrangement, relative ownership is based on the amount of capital contributed.
Average occupancy
The average occupancy rate for a property is the percentage of time a property was lived in during the last year. To get this, simply divide the number of months the property was occupied by 12.
Fair Value Of An Asset (or liability)
This is the amount wherein the asset or the liability can be purchased or incurred, sold or settled in a current transaction between willing parties.
First mortgage
Due to its position, the first mortgage, or the primary loan of a property, has priority over all junior encumbrances. In the event of a default, the holder has a priority right to payment.
Building Permit
This refers to the written permission approved by a local government to develop, renovate, or repair a building. It is used to ensure that the project's plans comply with local standards for zoning, land use, and construction...
Capitalized Interest
Instead of being paid current each month, capitalized interest is a method wherein construction loan interest amounts are charged but allowed to accumulate or accrue and be added to the total loan principal balance. Therefore...
Auction
This is a method of publicly selling an asset or property to the highest bidder.
Construction 1031 Exchange
This refers to a replacement property that has not been built yet. The improvements on the property must be completed prior to the expiration of the 180 days. The property is held by an LLC called the exchange accommodation...
