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Glossary

Our glossary of industry terms is one of the most visited sections of our site. We work continually to keep it current and are always adding new terms. In addition, if you ever can't find an industry word you are looking for, let us know. We'll research it and add it for you.


  • General contractor

    The prime contractor who contracts for the construction of an entire building or project, rather than just a portion of the work. The general contractor hires subcontractors, coordinates all work and is responsible for payment to subcontractors.

  • General partner

    A member of a partnership who has authority to bind the partnership and shares in the profits and losses of the partnership.

  • Glide Path

    The formula in the design of a target date fund that defines the asset allocation mix for the fund, based on the number of years to the target date. The glide path defines an asset allocation that becomes more conservative (more fixed-income assets and fewer equities, for example) the closer a fund gets to its target date.

  • Going-in capitalization rate

    The capitalization rate computed by dividing the projected first year's net operating income by the value of the property.

  • Graduated lease

    A lease, generally long-term in nature, in which rent varies depending upon future contingencies.

  • Grant

    To bestow or transfer an interest in real property by deed or other instrument.

  • Grantee

    One to whom a grant is made.

  • Grantor

    The person making the grant.

  • Gross building area

    The sum of areas at each floor level, including basements, mezzanines and penthouses included within the principal outside faces of the exterior walls and neglecting architectural setbacks or projections.

  • Gross investment in real estate (historic cost)

    The total amount of equity and debt invested in real estate investments, including the gross purchase price, all acquisition fees and costs, plus subsequent capital improvements, less proceeds from sales and partial sales.

  • Gross leasable area

    The portion of total floor area designed for tenants' occupancy and exclusive use, including storage areas. It is the total area that produces rental income.

  • Gross lease

    A lease in which the tenant pays a flat sum for rent out of which the landlord must pay all expenses such as taxes, insurance, maintenance, utilities, etc.

  • Gross real estate asset value

    The market value of the total real estate investments under management in a fund or individual accounts. It typically includes the total value of all equity positions, debt positions and joint venture ownership positions, including the amount of any mortgages or notes payable related to those assets.

  • Gross real estate investment value

    The market value of real estate investments held in a portfolio without regard to debt, equal to the total of real estate investments as shown on a statement of assets and liabilities on a market-value basis.

  • Gross returns

    Returns generated from the operation of real estate without dilution for adviser or manager fees.

  • Ground rent

    Rent paid to the owner for use of land, normally on which to build a building. Generally, the arrangement is that of a long-term lease (e.g. 99 years) with the lessor retaining title to the land.

  • Guarantor

    One who makes a guaranty.

  • Guaranty

    Agreement whereby the guarantor assures satisfaction of the debt of another or performs the obligation of another if and when the debtor fails to do so.