Improvements: In the context of leasing, the term typically refers to
the improvements made to or inside a building but may include any
permanent structure or other development, such as a street, sidewalks, utilities, etc. See also “Leasehold Improvements”. See also Leasehold Improvements and Tenant Improvements.

Indirect Costs: Development costs, other than material and labor costs which are directly related to the construction of improvements, including administrative and office expenses, commissions, architectural,
engineering and financing costs.

Internal Rate of Return :  The true annual rate of earnings on an investment. Equates the value of cash invested with cash returns.
Considers the application of compound interest factors.

Inventory: The total amount of rentable square feet of existing and any forthcoming space (whether it be a tenant vacating space or new
buildings coming on the market), in a given category, for example, all warehouse space in a specified submarket. Inventory refers to all space
within a certain proscribed market without regard to its availability or condition, and categories can include all types of leased space such as
office, flex, retail and warehouse space.

Investment Bank: A lending institution such as Pacific Security Capital
that is both a direct lender as well as an intermediary. This type of
institution has the ability to directly fund or to re-trade/syndicate transactions. This capability allows for the maximum amount of funding
options when structuring a deal.