Glossary

Hard cost

The cost of actually constructing property improvements.

Headings

The heading element briefly describes the subject of the section it introduces.
Heading elements go from H1 to H6 with the lower numbered headings being most important. You should only use a single H1 element on each page, and may want to use multiple other heading elements to structure a document.

Headline

The title of an article or story.

High-rise

In the central business district, this could mean a building higher than 25 stories above ground level, but in suburban markets, it generally refers to buildings higher than seven or eight stories.

Highest and best use

The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible and that results in the highest value

Hold-over tenant

A tenant retaining possession of the leased premises after the expiration of a lease.

Holdbacks

A portion of a loan commitment that is not funded until an additional requirement is met, such as completion of construction.

Holding period

The length of time an investor expects to own a property from purchase to sale.

HVAC

The acronym for heating, ventilating and air conditioning.

Hybrid debt

A mortgage position with equity-like participation features in both cash flow and the appreciation of the property at the time of sale or refinance.