Incentive fee

Refers to fee structures where the size of the fee that is billed is determined by the effectiveness of the real estate means under management

Highest and best use

The apparently available and legit use of vacant land or an improved property that is literally likely, sufficiently sustained, financially possible and that ends in the best value

Holdbacks

A portion of a loan commitment that's not supported until a second requirement is met, like the finish of development

Hybrid debt

A mortgage situation with equity-like association characteristics in both available resources and the growth of the piece of property at the period of sale or refinance

Implied cap rate

Overall working revenues divided by the sum of a REIT's equity industry capitalization and its whole outstanding debt