whole loan
A commercial real estate loan that is secured by a first-ranking mortgage and split into senior and subordinated elements, with the senior risk sold a [...]
hospitality
A sector within the service industry comprising hotels and lodging, restaurants and bars, food and drink service, event planning, theme parks, tourism [...]
design
The realization of an idea or resolution of requirements by means of drawings, plans, specifications and models used to enable items and products to b [...]
asset class
For commercial real estate, the classification of income-producing property according to type (e.g., hotel, office or industrial) and its quality rank [...]
base management fee
The hotel operator fee for recovering operator overhead and ensuring a minimal level of profitability, commonly comprising the annual base fee and the [...]
foreclose
Taking legal action to recover the balance of a defaulted obligation in which a creditor holds a security interest or ownership by forcing the disposa [...]
