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Lender

Definitions

An individual, a public or private group, or a financial institution that makes funds available to another with the expectation that the funds will be repaid.

Lessee

Definitions

A person who holds the lease of a property.

Lessor

Definitions

A person who leases or lets a property to another.

Leverage Ratio

Definitions

Any ratio used to measure the ability of a company or investment to meet financial obligations.

Liability Driven Investment (LDI)

Definitions

An investment philosophy and strategy that is designed toward gaining enough assets to cover all current and future liabilities; general approach consists of minimizing and managin ...

Lifecycle

Definitions

The various developmental stages of a property: pre-development, development, leasing, operating, and redevelopment (or rehab).

Limited Liability Company (LLC)

Definitions

A legal entity which operates within the framework of general corporate legal provisions of a respective domicile. The owner's pooled liability is limited.  

Limited Partner Advisory Council (LPAC)

Definitions

A group of LPs who are independent of the GP, but usually selected by the GP and comprised of the largest investors.  Responsibilities include resolving conflict of interest s ...

Limited Partner Excuse

Definitions

The right by which an investor is permitted to opt-out from an investment on a case-by-case basis, often as a result of regulatory issues or due to a policy of the Investor that wo ...

Limited Partner Transfer

Definitions

The legal sale, assignment, pledge or disposition of all or an undivided portion of an investor’s interest in a fund, including its obligation to make capital contributions a ...

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