Building Status
A building that is still being built
What is under construction?
How much landlords want for a space
What is "asking rent" or "face rate?"
How much money a property makes back per year relative to its purchase price
What is capitalization or cap rate?
What is conversion?
The type of tenant Meritex wants
What is a creditworthy tenant?
High-quality real estate asset in good market, commanding high rent and at least 80% leased
What is a core investment?
Upgrading and modernizing parts of a building
What is renovation?
Preleased space
What is space leased in a building that's under construction?
Income generated after deducting operating expenses but before deducting taxes and financing expenses
What is net operating income or NOI?