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O Terms

Offer – A proposed stated sale price or price range for whole loans or securities.  Also known as a dollar figure representing the amount a willing buyer submits to a seller for the purchase of real property.

Open Space – A largely undeveloped area of land or water dedicated for public or private use.

Operating Cost Escalation – Escalation clauses are intended, through a variety of ways, to adjust rents by external reference standards such as a published index, negotiated wage levels, or ownership and operation expenses of a building.

Operating Expense – Actual costs associated with using a property, such as maintenance and repairs, management, taxes, utilities and insurance.

Out-Parcel – Individual retail site of each business in a shopping center or mall.

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