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Percentage In Point (PIP)

Definitions

A unit of change in an exchange rate of a currency pair; also known as “price interest point”.

Performance Allocation

Definitions

A form of incentive fee compensation paid to a fund general partner in the form of an allocation of the profits of the fund, typically calculated as a set percentage of the profits ...

Personal Property

Definitions

Consists of every kind of property that is not real property; movable without damage to itself or the real estate; subdivided into “tangible personal property” and &ldq ...

Phase I Environmental Site Assessment (ESA)

Definitions

A study of a property and its surrounding area to determine whether there are any hazards to the environment and human health; if issues are found, it presents a potential liabilit ...

Phase II Environmental Site Assessment (ESA)

Definitions

A study of a property and its surrounding area to determine whether there are any hazards to the environment and human health triggered when a Phase I Environmental Site Assessment ...

Phase III Environmental Site Assessment (ESA)

Definitions

A study of a property and its surrounding area to determine whether there are any hazards to the environment and human health triggered by the confirmation of environmental contami ...

Physical Obsolescence

Definitions

The reduction in a property’s value due to gross mismanagement and physical neglect resulting in deferred maintenance; however, physical deterioration in itself is not a form ...

Placement Agent

Definitions

An intermediary who raises capital for investment funds; professional placement agents are required to be registered with the securities regulatory agency in their jurisdiction, su ...

Pooled Fund

Definitions

See “Commingled Fund”  

Portfolio Deal

Definitions

A single transaction involving the sale of multiple buildings or companies.

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