Multifamily
Multifamily Properties are defined as multi-unit residential buildings intended for occupancy by individual dwellers.  The improvements must adjoin and provide for five or more residential dwellings. 

Apartment Building
Multi-unit residential building.  A building containing independent dwelling units, each with complete living facilities with shared common areas.  The common areas contain a main entrance, stairs, and elevators.

Residential Condominium
A condominium is a type of joint ownership, wherein a unit owner possesses a percentage ownership in the improvements and common areas of the building.

Commercial Real Estate
Real property acquired for investment purposes, except for apartment houses, housing projects and other dwelling units.  Is also defined as improved real estate held by its owner for the production of income through leases for commercial or business usage.

Multi-Tenant
A commercial property divided into multiple rental units and leased to a variety of tenants. 

Mortgage Broker 
A professional with two sets of clients:  real estate owners (developer/borrower) and lenders.  For the real estate owner mortgage brokers identify and negotiate term debt financing; for the lender they originate loans.

Office Building
A building utilized to house businesses and professionals.  Office buildings are categorizes in one of three categories:

• Class A
  Modern High-Rise buildings.  Many building services.  Used as company headquarters
• Class B
  Basic services, older build-out.  Usually run satisfactorily for back-office operations,
• Class C
  Basic offices.  Not many additional building amenities, may need renovations and technology upgrade.

Shopping Center
A group of retail stores managed as a single unit.

Single Purpose: A commercial property developed for a special purpose or specific use. 

Industrial Real Estate
Land or improved land adaptable for industrial use.  A combination of land, improvements, and machinery that collectively functions as an integrated unit.  Facilitates commonly functions for assembling, processing, manufacturing or rendering of services. 

Classifications of Industrial Real Estate:
• Heavy Industrial
• Light Industrial
• Research and Development.

Single-Tenant: A commercial property occupied by a single third-party tenant or by the owner for business use.

Special Use
A commercial property developed for one specific business purpose.

Hotels and Motels
Facilities designed for the temporary residence.

Mobile Home Parks
Residential facility designed as a relatively permanent place of residence providing space to be rented for the accommodation of mobile homes.

Multi-Use
A commercial property consisting of a combination of construction types which enhances the use and the enjoyment of the tenants.

SBA:  The United States Small Business Administration (SBA).  The SBA helps new or growing businesses meet their financial needs and offers special assistance to businesses owned by minorities, women, and veterans.