This Glossary provides definitions of terms related to property and property investing.
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Term and Definition
Weighted average capitalisation rate (WACR)

A property fund risk metric; the analysis of each asset's capitalisation rate weighted by asset value.

Weighted average cost of capital (WACC)

Weighted average cost of debt and notional cost of equity, used as a benchmark to assess investment returns.

Weighted average cost of debt

The weighted average cost of debt is the interest rate on each external debt instrument in the fund weighted by the size of debt instruments.

Weighted average lease expiry (WALE)

A property fund risk metric; the analysis of the time until tenancies expire, generally weighted by either area or income and expressed in years.

Weighted average term to maturity

The average time the fund's debt has until it is due for repayment. A fund's weighted average term to maturity weights each loan principal as a proportion of the total debt facilities in the fund, by the time to each respective repayment date, usually expressed in years.

Wholesale fund status

Legal terminology for the State Government legislation on stamp duty payable if a fund is deemed 'land rich'. No investor within a Wholesale Fund can own more than 49%. A Wholesale Fund is determined by either having a minimum of two properties over $10 million or six investors.

Wind up fees

Fees relating to the termination of the fund. These fees are not related to the disposal of assets as part of the termination of the fund.

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