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Hard cost: The cost of actually constructing property
improvements
High-rise: In the central business district, this could mean a
building higher than 25 stories above ground level, but in suburban markets,
it generally refers to buildings higher than seven or eight stories.
Highest and best use: The reasonably probable and legal use of vacant
land or an improved property that is physically possible, appropriately
supported, financially feasible and that results in the highest value
Holdbacks: A portion of a loan commitment that is not funded until an
additional requirement is met, such as completion of construction
Holding period: The length of time an investor expects to own a
property from purchase to sale
Hold-over tenant: A tenant retaining possession of the leased
premises after the expiration of a lease
HVAC: The acronym for heating, ventilating and air conditioning
Hybrid debt: A mortgage position with equity-like participation
features in both cash flow and the appreciation of the property at the time
of sale or refinance
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Every