Highest and best use

The seemingly possible and legit use of vacant land or an improved structure that is physically likely, properly backed, financially possible and that ends in the top value

HVAC

An acronym for the words for heating, ventilating and air conditioning

Holdbacks

A piece of a loan contract that is not financed until a second requirement is met, like completion of construction

Hybrid debt

A mortgage condition with equity-like association aspects in both capital means and the cost increase of the piece of real estate at the time of sale or refinance

Implied cap rate

Overall operating revenues divided by the sum of a REIT's equity market capitalization and its entire unsettled debt