GLA

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What Are "Bad Boy" Carve-Outs?

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What Are "Bad Boy" Carve-Outs?

Non-recourse loans prevent a lender from going after a borrower’s personal property in the case of a default. Bad boy carve-outs allow the lender to go after the borrower’s personal property if they conduct themselves badly.

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Merchant Builders in Commercial Real Estate: Definition & Explanation

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Merchant Builders in Commercial Real Estate: Definition & Explanation

Merchant builders are commercial real estate developers who build properties and sell them in a short time frame. Merchant builders develop properties in all asset classes, including multifamily and single-family homes.

Floor Plate in Commercial Real Estate: Definition & Explanation

Floor Plate in Commercial Real Estate: Definition & Explanation

Floor plate is a term that indicates the amount of square footage that can be leased on each floor of a commercial building. Due to structural considerations, in high-rise buildings, floor plates on lower stories are typically larger than floor plates on higher stories.

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What are TI/LC: Tenant Improvements / Leasing Commissions? 

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What are TI/LC: Tenant Improvements / Leasing Commissions? 

A TI, or tenant improvement, is an improvement made by the property owner so that the property better fits the need of the new tenant. An LC, or leasing commission, is the real estate agent’s or broker’s commission received after a lease is successfully closed.

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What is GLA: Gross Leasable Area in Real Estate?

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What is GLA: Gross Leasable Area in Real Estate?

GLA, or gross leasable area, or GLA, is the part of a commercial or multifamily building that is designated for use by the tenant alone.

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