“Facility” is one of those words that has very different meanings, depending on the industry that is using it. In banking, for example, a “Facility” is money set aside to loan to a preferred customer, even thought the lone hasn’t yet been created.
That’s not the sense in which it is used in this chapter. Here, Facility is a synonym for Physical Address. From the point of view of “facilities management”, it is “a place with a purpose”, as distinguished from Geographic Location, which is simply “a place”. That is, it is “a place identified as being in a Geographic Location, where Parties use (physical) Assets to perform Activities”.
But one purpose it has in the overall scheme of things is as a means to locate Persons, Assets, Activities ...