A 1031 Exchange, also known as a Like-Kind Exchange, is a provision in the U.S. tax code that allows real estate investors to defer paying capital gains taxes on the sale of an investment property, provided they reinvest the proceeds into a similar property.

This term refers to a computation made by analysts and investors to measure a real estate company's recurring/normalized FFO after deducting capital improvement funding.

Building performance standards (BPS) are regulatory policies aimed at improving the energy efficiency of and reducing greenhouse gas (GHG) emissions of buildings.

The capitalization rate (or "cap" rate) for a property is determined by dividing the property's net operating income by its purchase price. Generally, high cap rates indicate higher returns and greater perceived risk.

Carbon accounting is the process of measuring and tracking an organization's greenhouse gas (GHG) emissions. These emissions are a major contributor to climate change, and carbon accounting provides a structured approach for organizations, especially in industries like real estate, to monitor, report, and manage their environmental impact.

Cash (or funds) available for distribution (CAD or FAD) is a measure of a REIT's ability to generate cash and to distribute dividends to its shareholders. CAD or FAD is generally calculated by subtracting from AFFO major non-cash items. There is no standardized definition of CAD or FAD; therefore, financial statement users should understand how the measure is defined by the company.

Climate risks are threats posed by climate change, and they fall into two main categories: physical risks and transitional risks.

Commercial Mortgage-Backed Securities (CMBS) are a type of fixed-income investment, enabling investors to buy into pools of commercial mortgages.

Commercial real estate (CRE) represents a broad range of properties that are used for business purposes to generate revenue.

A downREIT is structured much like an UPREIT, but the REIT owns and operates properties other than its interest in a controlled partnership that owns and operates separate properties.

Earnings Before Interest, Taxes, Depreciation and Amortization.

Earnings Before Interest, Taxes, Depreciation and Amortization for Real Estate EBITDAre is calculated as follows:
GAAP net income, plus interest expense, income tax expense and depreciation and amortization.

Elective stock dividends are dividends comprised of a combination of cash and stock. Under IRS Revenue Procedure 2008-68, so long as a REIT provides its shareholders with a choice between cash or stock (and so long as at least 10 percent of the total dividend is available in cash), the entire dividend distribution is treated as a distribution of cash for purposes of the tax rules to qualify as a REIT.

Energy use intensity (EUI) quantifies the energy usage of a building relative to its size, providing a snapshot of the building's energy efficiency.

A REIT which owns, or has an "equity interest" in, rental real estate (rather than making loans secured by real estate collateral).

The most commonly accepted and reported measure of REIT operating performance. Equal to a REIT's net income, excluding gains or losses from sales of property and adding back real estate depreciation.

A green lease is a rental agreement that incorporates specific clauses promoting sustainable practices such as energy efficiency, waste reduction, and environmental responsibility.

A REIT that makes or owns loans and other obligations that are secured by real estate collateral. Mortgage REITs are commonly referred to as mREITs.

The "market value" of all a company's assets, including but not limited to its properties, after subtracting the “market value” of all its liabilities and obligations.

A private REIT is a real estate investment trust not registered with the SEC and not publicly traded, typically available only to accredited or institutional investors.

A public, non-listed REIT is a real estate investment trust registered with the SEC but not traded on stock exchanges, offering investors access to real estate assets with less liquidity than publicly traded REITs.

A public REIT is a REIT that is accessible to everyday investors with smaller amounts to invest. Public REITs are available for purchase on a public stock exchange, and they are regulated by the U.S. Securities and Exchange Commission (SEC) ensuring transparency and protecting investors through stringent reporting requirements.

The federal law that authorized REITs. Its purpose was to allow small investors to pool their investments in real estate in order to get the same benefits as might be obtained by direct ownership, while also diversifying their risks and obtaining professional management.

RIDEA allows REITs to partner directly with property operators, gaining a stake in both the revenue and expenses associated with the property’s operation sharing in the operational upsides, like increasing occupancy rates or service pricing, as well as any downsides, such as operational cost increases.

Federal tax law change whose provisions allow a REIT to own up to 100% of stock of a taxable REIT subsidiary that can provide services to REIT tenants and others. The law also changed the minimum distribution requirement from 95 percent to 90 percent of a REIT's taxable income–consistent with the rules for REITs from 1960 to 1980.

Section 199A, also known as the Qualified Business Income (QBI) Deduction, is a provision introduced under the Tax Cuts and Jobs Act of 2017. It offers significant tax benefits for business owners, particularly those involved in pass-through entities such as sole proprietorships, partnerships, S corporations, and certain trusts and estates.

A stock's dividend income plus capital appreciation, before taxes and commissions.

In the typical UPREIT, the partners of the Existing Partnerships and a newly formed REIT become partners in a new partnership termed the Operating Partnership. For their respective interests in the Operating Partnership ("Units"), the partners contribute the properties from the Existing Partnership and the REIT contributes the cash proceeds from its public offering. The REIT typically is the general partner and the majority owner of the Operating Partnership Units.