This refers to areas found in a building and its surrounding site that are available for the common use of all tenants. These include washrooms, elevator lobbies, public corridors, parking lots, and electrical rooms.
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Construction loan
Also referred to as a self-build loan, a construction loan is interim financing in the developmental phase of a certain property. It is typically used to fund the costs of a project before you can obtain long term funds.
Sending the Sizzle
Family Office expert, Richard C. Wilson, speaks about grabbing the attention of investors with concise marketing materials. Learn more at www.FamilyOffices.com Family Office expert, Richard C Wilson, speaks about the importance...
Conveyance
This refers to the instrument, often written, indicating the transfer of some ownership interest in real property from one person to another. Examples of this are deeds and leases.
Down payment
This is a part of a property's or home's purchase value that you'll need to pay up front. It is typically not sourced from a mortgage lender via a loan. Down payment is usually in the form of cash or any equivalent at the time of...
Gross building area
This is the total sum of the areas at each floor level. It includes penthouses, mezzanine, and basements that are within the principal outside faces of the exterior walls and neglecting any architectural projections or setbacks.
Cooperative housing
Co-op for short is a kind of real estate unlike renting an apartment or buying or owning a condo. It refers to a housing unit both owned and controlled by a group of individuals that possess occupancy rights to the housing...
Conversion
This is a building or a property that is converted from one use to another. An example of this is a office that is converted into a multi-family building. The property that is being changed is removed from the current inventory...
Globalization
This is the state of a business or organization becoming or being globalized. Globalization is a concept that is utilized to identify cross-jurisdictional interdependencies and the ongoing incorporation of regional, local, and...
Building Owners and Managers Association
BOMA is an international organization for commercial real estate professionals founded in 1907 and is based in the United States and Canada. This organization is widely recognized as a primary resource on information regarding...
