The following explanations are not intended as technical definitions, but rather are intended to assist the reader in understanding terms used in this webpage.

an alternative investment fund manager within the meaning of AIFMD.


Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers.

“Basic NAV per share”

IFRS net assets divided by the number of shares in issue at the balance sheet date


the referendum decision by the United Kingdom to leave the European Union.


building management system


Central Business District

“Earnings per share (EPS)”

profit after taxation attributable to owners of the Parent divided by the weighted average number of ordinary shares in issue during the period.

“economic cycle”

the upward and downward movements of levels of gross domestic product and refers to the period of expansions and contractions in the level of economic activities around a long-term trend


European Public Real Estate Association.


EPRA Best Practices Recommendations November 2016

“equivalent yield”

The internal rate of return from an investment property reflecting reversions to current market rent and such items as voids and non-recoverable expenditure but ignoring future changes in capital value.

“estimated rental value” (“ERV”)

ERV is the open market rent that a property can be reasonably expected to attain given its characteristics, condition, location and local market conditions.


calculated as the borrowings secured on an individual asset as a percentage of the market value of that asset, or the aggregate borrowings of a company as a percentage of the market value of the total assets of the company (also referred to as loan to value or LTV ratio). In an investment strategy context, gearing refers to the use of various financial instruments or borrowed capital to increase the potential return of an investment

“gross domestic product” (“GDP”)

the market value of all officially recognised final goods and services produced within a country in a given period of time


heating, ventilation and air conditioning


Irish Auditing and Accounting Supervisory Authority


International Accounting Standards


the Investment Manager Agreement entered into by the Company and the Investment Manager (Green Property REIT Ventures DAC) on 12 July 2013

“industrial and logistics”

an industrial type real estate asset which may, for example, be used for manufacturing and distribution operations

“investment income yield”

the current annualised rent produced by investment properties, net of costs, expressed as a percentage of capital value, after allowing for notional purchaser’s costs

“Irish REIT Regime”

Part 25A of the Taxes Consolidation Act 1997 (as inserted by section 41 of the Finance Act 2013)

“loan to value” (“LTV”)

calculated as the borrowings secured on an individual asset as a percentage of the market value of that asset.


Leadership in Energy and Environmental Design, a widely used green building rating system

“mixed use”

a building or complex of buildings that blends a combination of residential, commercial, cultural, institutional, or industrial uses, where those functions are physically and functionally integrated


a classification of housing where multiple separate housing units for residential inhabitants are contained within one building or several buildings within one complex

‘‘Net Asset Value’’ (or ‘‘NAV’’ )

The measure shown in a company’s balance sheet of all assets less all liabilities, and is equal to the equity attributable to shareholders in any company or group.

The net asset value of the Company will be measured consistently with IFRS as adopted in the EU, and in particular will include the Company’s property assets at their most recent independently assessed market values and also the Company’s debt and hedging instruments at their most recent independent valuations.

“occupier market”

the office, industrial and retail market

“passing rent”

the annualised cash rental income being received as at a certain date, excluding the net effects of straight-lining for lease incentives;

“prime assets”

a highly regarded real estate asset due to, amongst other things, its location or quality of construction. An example of prime real estate asset would be a modern office building in the central business district of a major city

“property income”

in relation to a company or group, the property profits of the company or group, as the case may be, calculated using accounting principles, as reduced by revaluation surpluses on the company’s assets or increased by the revaluation deficits on the company’s assets.

“Property Income Distribution” (or “PID”)

a dividend paid by a REIT or the principal company of a Group REIT, as the case may be, from its Property Income;


per square foot


per square metre


the gap by which the passing rent of a property or portfolio is below that of its ERV.

“sq ft”

square feet

“sq m”

square metres

“total return”

the movement in net asset value between the beginning and the end of each financial year plus the dividend paid during the year, expressed as a percentage of the net asset value at the beginning of the financial year.


the weighted average period of unexpired lease term or if earlier period to the next lease break.


A measure of return on an asset calculated as the income arising on an asset expressed as a percentage of the total cost of the asset, including costs