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Under construction: The period of time after construction has
started but before the certificate of occupancy has been issued
Under contract: The period of time after a seller has accepted a
buyer's offer to purchase a property and during which the buyer is able to
perform its due diligence and finalize financing arrangements. During this
time, the seller is precluded from entertaining offers from other buyers.
Underwriter: A company, usually an investment banking firm, that
guarantees or participates in a guarantee that an entire issue of stocks or
bonds will be purchased
Unencumbered: Property that is free of liens and other encumbrances
Unimproved land: Most commonly refers to land without improvements or
buildings but also can mean land in its natural state
Unrated classes: Typically the most subordinated classes of CMBS
UPREIT (Umbrella partnership real estate investment trust):
Organizational structure where a REIT's assets are owned by a holding
company for tax purposes
Usable square footage: The area contained within the demising walls
of the tenant space that equals the net square footage multiplied by the
circulation factor
Use: The specific purpose for which a parcel or a building is
intended to be used or for which it has been designed or arranged
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Use the
Search Box for Commercial Real Estate Terms
|
|
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|
Click a
letter to find Commercial Real Estate Terms
|
|
A |
B | C | D |
E | F |
G | H | I | J |
K | L | M |
N | O | P | Q |
R | S | T |
U | V | W | X |
Y | Z
|
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