Real Estate Terminology

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What is a Lease

+ What is a lease?

+ What makes a lease valuable?

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Lease Types

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Lease Type Tenant Responsibility LL Responsibility

Bondable Lease Rent, NNN, Utilities, Capital Expenses -

NNN Rent, NNN, Utilities Capital Expenses

Industrial Gross Rent, NNN(%), Utilities (NNN)%, Capital Expenses

Gross Rent, Utilities NNN, Capital Expenses

Full Service

GrossRent NNN, Capital Expenses, Utilities, Services

Gross+% rents Rent (Base) + Rent (% of Sales) NNN, Capital Expenses, Utilities, Services

Others?

+ What are different types of leases?

+ What different types of leases affect different

type of real estate?

– Multifamily

– Office

– Industrial

– Retail

– Single Family

– Hospitality

– Healthcare

– Mobile Home Park

– Manufacturing

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Lease Terms

+ Term – Length of lease

+ Amount – rent per month or per annum

– West Coast – per month

– Rest of Country/World – per annum

+ Rent Free – amount of time they occupy the space but are not paying rent

– Non Cash

+ TI’s – Tenant improvements

+ Passing – rent in place at time of acquisitions

+ Market – rent that should be attained should a market lease be signed at stabilization

+ Growth – amount that rent is growing over time (projected and historical)

+ What Else?

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