Book value

Usually cited as collective shareholder's equity, this is the total shareholder's equity from the time of the most recent quarterly balance sheet minus preferred stock and redeemable preferred stock.

Appreciation return

The piece of the complete return initiated by the move in the value of the real estate assets within the duration of the current quarter, as measured by both appraisals as well as sales of assets

Asset management fee

A percentage billed to investors centered on the total quantity invested into real estate assets for the fund or account.

Average total assets

Determined by adding the complete available means of an organization for the five latest quarters and dividing by five

Capital appreciation

The change in market value of a property or portfolio altered for capital enhancements and partial sales