A fragment of a loan commitment that is not financed until an additional condition is met, like completion of development

Income capitalization value

The indication of market value obtained for an income-creating piece of property by reorganizing its forecasted advantages into property value through direct capitalization of likely income or by decreasing the yearly cash flows for the holding period at a specified yield rate

Holding period

The span of time an investor anticipates to own a piece of real estate from purchase to sale

Incentive fee

Is associated with fee structures where the total amount of the fee that is billed is estimated by the efficiency of the real estate assets under management


In the situation of renting, the term commonly concerns the renovations made to or inside a unit but could consist of any fixed structure or additional development, such as a street, sidewalk, utilities, etc.