Glossary
The following is a glossary containing some terms used frequently in the worlds of commercial real estate and REITs. Many of these terms are not always used in the same way by all investors; therefore, you will undoubtedly encounter definitions elsewhere that are some what different. Another good source of REIT and commercial real estate terminology can be found at NAREIT's web site, specifically, www.reit.com/IndividualInvestors/GlossaryofREITTerms.aspx.
Adjusted funds from operations (AFFO).
FFO (see FFO), less normalized recurring expenditures that are capitalized by the REIT and amortized, and which are necessary to properly maintain and lease the property (e.g., new carpeting and draperies in apartment units, leasing expenses, and ...
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