cbd real estate meaning

Bhd, Metroworld Realty SdnBhd, CBD Properties (KL) SdnBhd, Starcity Property Sdn.

From time to time, the Company may designate one or more additional properties as CBD Properties by delivering an Officers’ Certificate, in substantially the form attached hereto as Exhibit B, to the Trustee (i) setting forth the name of such property and (ii) certifying that, in the good faith opinion of such officers, such property is located in the central business district of a CBD Market.

Holds proceeds of sale of Head Office and Other Ansett Melbourne CBD Properties as trustee for AAL and/or AAHL.

As of the Closing Date, the CBD Properties are the Park Tower Property, and the project known as Camelback Square located in Phoenix, Arizona.

AAL is assumed to be the owner of the proceeds of sale (and accrued interest) of the Head Office and the Other Ansett CBD Properties.

The value of all properties owned by the Borrower or subsidiaries by utilizing a 8.25% capitalization rate (7% for CBD Properties) based on the most recent quarter’s Net Operating Income from all properties owned by the Borrower times 4, plus the book value of all other tangible assets (including stock and mortgage Syndication REITS).

The Capitalization Rate shall be (i) 8.25% for Real Estate Assets other than the CBD Properties, and (ii) 7.0% for Real Estate Assets which are CBD Properties.

Cbd real estate meaning

Office space is the mainstay of central business districts, though they may also have tourist attractions, such as museums, sports and entertainment complexes. The real estate market is likely to include businesses that appeal to travelers, such as hotels, retail shops and restaurants.

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CBD is a common abbreviation for central business district. This part of a city is also commonly known as downtown, or the city center. Central business districts are characterized by high-density development of office buildings, often including government centers and transportation hubs. The “CBD office market” is the term for demand for office real estate in a central business district. In most cities, the central business district represents an important part of the local commercial real estate market.

During decades when suburban development was booming, demand declined in central business district markets. In many cities, corporate headquarters relocated from the CBD; over time, smaller companies began to follow them. Shoppers were more likely to head to a suburban mall than downtown shops or department stores.

CBDs and Suburbanization

In recent years, many cities have seen gentrification of central business districts. Commercial real estate markets are being revitalized as adaptive reuse converts older commercial buildings into residential lofts, galleries and upscale shops. These developments help drive the market for office space rental. Old banks, offices and department stores are remodeled for use by modern service and high-tech businesses.

CBD Real Estate