Data Dictionary - LightBox JSON (Valuation Data)

Service-Level Assumptions

File Number

String

The Client's unique Job or Project Number, not the Vendor's internal file or invoice number.

Service-Level Assumptions

Platform

Standard Dropdown

The originating Lightbox platform. At this time, some dropdowns may be dependent on Platform.

Service-Level Assumptions

LightBox Job ID

GUID

A unique Job ID provided by LightBox.

Service-Level Assumptions

Client Company Name

String

The Client's unique name.

Service-Level Assumptions

Date of Report

MM/DD/YYYY

Date of Report

Service-Level Assumptions

Currency Type

Standard Dropdown

Selection of currency for all monetary values

Property Information

Property Name

String

Name of the subject Property, or general description of the project.

Property Information

Street Address

String

Street address of subject property

Property Information

City

String

Municipality of subject property

Property Information

State

Standard Dropdown

State of subject property

Property Information

Zip

String

Zip code of subject property

Property Information

County

String

County of subject property

Property Information

CBSA Name

String

Census Bureau Statistical Area

Property Information

Country

Standard Dropdown

Country of subject property

Property Information

Latitude

EX: 34.123461

Latitude of subject property

Property Information

Longitude

EX: -117.81799

Longitude of subject property

Property Information

Legal Description

String

A description of land that identifies the real estate according to a system established or approved by law; an exact description that enables the real estate to be located and identified. (Example: Part of Tract 1, South 49’ of Lot 4, Block 5.)

Property Information

Existing or Proposed?

Standard Dropdown

Are the structures and grounds existing? Or proposed?

Property Information

No. of Tenants

Integer

One who holds or possesses real estate by any kind of right or title; commonly a person who occupies and uses the property of another under a lease.

Property Information

Property Type

Standard Dropdown

Categorization and subcategorization of property's use

Property Information

Property Sub Type

Standard Dropdown

Categorization and subcategorization of property's use

Ownership / Property History

Current Owner Name

String

One who has the legal or rightful title to a property.

Ownership / Property History

Most Recent Sale Date

MM/DD/YYYY

Ownership / Property History

Subject Sold in last three years?

Standard Dropdown

Ownership / Property History

Most Recent Sale Price

0 or $#,###

The amount asked, offered, or paid for a property.

Ownership / Property History

Property Currently Listed for Sale?

Standard Dropdown

Ownership / Property History

If so, at what Price?

0 or $#,###

The Price attributed to a Pending Contract, that has not closed.

Ownership / Property History

Is the Property Encumbered?

Standard Dropdown

Is the property encumbered by a purchase contract, option or similar type of agreement?

Ownership / Property History

If so, at what Price?

0 or $#,###

Ownership / Property History

Anticipated Close Date

MM/DD/YYYY

Anticipated date of closing for subject transaction

Various Property Information

Land SF

#,###

Total Land Area of the Site in Square Feet

Various Property Information

Acres

#,###.##

Total Land Area of the Site in Acres

Various Property Information

Usable Land SF

#,###

Usable Land: The minimum land area required per development which is suitable for OSS. This area includes satisfactory soil conditions, vertical separation and horizontal separation(s).

Various Property Information

Usable Acres

#,###.##

Various Property Information

Zoning Code

String

Public regulation of the use of private land through application of police power; accomplished by establishing districts or areas with uniform requirements requirements relating to lot coverage, setbacks, type of improvement, permitted activities, signage, structure height, minimum lot area, density, landscaping, and other aspects of land use and development. Zoning regulations are established by enactment of a local (city, town, or county)
zoning ordinance.

Various Property Information

Topography

String

The relief features or surface configurations of an area, e.g., hills, valleys, slopes, lakes, rivers.

Various Property Information

Flood Zone

String

The flat surfaces along the courses of rivers, streams, and other bodies of water that are subject to flooding.

Various Property Information

GBA - Gross Building SF

0 or #,###

Total floor area of a building, excluding unenclosed areas, measured from the exterior of the walls of the abovegrade area. This includes mezzanines and basements if and when typically included in the market area of the type
of property involved.

Various Property Information

NRA - Net Rentable Area SF

0 or #,###

For office or retail buildings, the tenant’s pro rata portion of the entire office floor, excluding elements of the building that penetrate through the floor to the areas below. The rentable area of a floor is computed by measuring to the
inside finished surface of the dominant portion of the permanent building walls, excluding any major vertical penetrations of the floor. Alternatively, the amount of space on which the rent is based; calculated according to local practice.

Various Property Information

Number of Units

Integer

Total number of units on the property.

Various Property Information

Number of Buildings

Integer

The number of buildings/structures on the improved site.

Various Property Information

Number of Stories

Integer

Number of stories. If more than one building, state the max number of stories.

Various Property Information

Elevators

Integer

Number of Elevators.

Various Property Information

Building Class

Standard Dropdown

For the purposes of comparison, office space is grouped into three classes: Class A, B, and C. These classes represent a subjective quality rating of buildings, which indicates the competitive ability of each building to attract similar types of tenants. Combinations of factors such as rent, building finishes, system standards and efficiency, building amenities, location or accessibility, and market perception are used as relative measures.

Various Property Information

Construction Class

Standard Dropdown

Class A, Class B, Class C, Class D, Class S. https://www.corelogic.com/intelligence/a-report-card-for-commercial-building-construction/

Various Property Information

Construction Quality

Standard Dropdown

Quality of Construction

Various Property Information

Condition

Standard Dropdown

An analysis of the quality and condition of building components that distinguishes among deferred maintenance items (those in need of immediate repair), short-lived items (those that must be repaired or replaced in the future), and items that are expected to last for the remaining economic life of the building.

Various Property Information

Parking Type

Standard Dropdown

The type of parking for a building: Garage, Surface, Car port, etc.

Various Property Information

Parking Spaces

Integer

Number of Parking Spaces

Various Property Information

Year Built

String

The year the primary improvements were completed; also referred to as year of construction.

Various Property Information

Year Renovated

String

The process in which older structures or historic buildings are modernized, remodeled, or restored. Generally, the objective of renovation is to maintain or restore the basic plan and style of a building rather than to modify the original design by accretions or alterations, though new construction often accompanies restoration. Renovation is closely associated with urban renewal and may encompass the development of facilities to serve the community.

Various Property Information

Real Estate Remaining Economic Life

Integer

The estimated period over which existing improvements are expected to contribute economically to a property; an estimate of the number of years remaining in the economic life of a structure or structural components as of the effective date of the appraisal; used in the economic age-life method of estimating depreciation.

Valuation Scenarios

Valuation Premise

Standard Dropdown

An assumption regarding the most likely set of transactional circumstances that may be applicable to the subject valuation. Ex: Market Value (NOTE: Must be exactly as it is stated from Lender. Speak to a support representative if the dropdown options do not align with values from Lender)

Valuation Scenarios

Valuation Type

Standard Dropdown

Valuation premise qualifier for valuation scenario - Ex: Market Value, Going Concern, etc. Ex: As Stabilized (NOTE: Must be exactly as it is stated from Lender. Speak to a support representative if the dropdown options do not align with values from Lender)

Valuation Scenarios

Valuation Interest

Standard Dropdown

Interest appraised for valuation scenario: An enforceable, legal claim to title of or interest in property. Ex: Leased Fee (NOTE: Must be exactly as it is stated from Lender. Speak to a support representative if the dropdown options do not align with values from Lender)

Valuation Scenarios

Effective Date of Value

MM/DD/YYYY

Date when concluded valuation is in effect

Valuation Scenarios

Value Conclusion

0 or $#,###

A type of value, stated as an opinion, that presumes the transfer of a property (i.e., a right of ownership or a bundle of such rights), as of a certain date, under specific conditions set forth in the value definition that is identified by the appraiser as applicable in an appraisal.

Valuation Scenarios

Exposure Time (Months)

Integer

Assumed exposure time (in months). An opinion, based on supporting market data, of the length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.

Valuation Scenarios

Marketing Time (Months)

Integer

Assumed marketing time (in months). An opinion of the amount of time to sell a property interest at the concluded market value or at a benchmark price during the period immediately after the effective date of an appraisal. Marketing time differs from exposure time, which precedes the effective date of an appraisal.

Property Information

Primary Improvement Size Type

Standard Dropdown

Pre-defined list (GBA SF, Units, etc.)

Property Information

Primary Improvement Size

#,###

Selected "primary" improvement size by vendor

Real Property Allocations

Improvements Value

0 or $#,###

Concluded contributory value of improvements only

Real Property Allocations

Primary Land Value

0 or $#,###

Concluded contributory value of primary land only

Real Property Allocations

Subtotal:

Real Property Allocations

Permanent Equipment (Real Property)

0 or $#,###

Concluded contributory value of permant fixtures & equipment

Real Property Allocations

Subtotal:

Real Property Allocations

Excess Land Value

0 or $#,###

Concluded contributory value of excess land

Real Property Allocations

Total Value of Real Property

Non-Real Property Allocations

Personal Property (FF&E)

0 or $#,###

Concluded contributory value of personal property (FF&E) associated with subject property

Non-Real Property Allocations

Total Tangible Non-Real Property

Non-Real Property Allocations

Intangible Property - Business Enterprise

0 or $#,###

Concluded contributory value of business or enterprise associated with subject property

Non-Real Property Allocations

Total Intangible Non-Real Components

Non-Real Property Allocations

Total Value of Non-Real Property

0 or $#,###

Tangible or intangible objects that are considered personal, as opposed to real property. Examples of tangible personal property include furniture, vehicles, jewelry, collectibles, machinery and equipment, and computer hardware. Examples of intangible personal property include contracts, patents, licenses, computer software, and intellectual property.

Total Property Allocations

Total Value of Real, Non-Real Property

0 or $#,###

Real Property Metrics

Overall Value Per

0 or $#,###.00

Indexed (normalized) Total Real Property Value by selected unit of measurement

Real Property Metrics

Effective OAR

#.##%

OAR (overall rate, cap rate) implied by the Total Real Property Value and NOI (net operating income) projected under the Direct Capitalization Method

Real Property Metrics

Overall EGIM

#.##

Valuation metric: Total Real Property Value / Effective Gross Income projected under the Direct Cap Method

Income Approach

Income Approach Value

0 or $#,###

Concluded valuation via the Income Approach, which may factor in DCF and/or Direct Capitalization Method Values

Income Approach

Income Approach Unit of Measure

Standard Dropdown

Pre-defined list (GBA SF, Units, etc.)

Income Approach

Income Approach Value Per

0 or $#,###.00

Indexed (normalized) Income Approach Value by unit of measure

Income Approach

Income Approach Effective OAR

#.##%

OAR (overall rate, cap rate) implied by the Income Approach Value and NOI (net operating income) projected under the DCF Method

Income Approach Assumptions

Direct Cap Method Applied Cap Rate

Cap rate (OAR, overall rate) applied to NOI projection to arrive at value under Direct Cap Method

Income Approach Assumptions

Direct Capitalization Value

0 or $#,###

A method used to convert an estimate of a single year’s income expectancy into an indication of value in one direct step, either by dividing the net income estimate by an appropriate capitalization rate or by multiplying the income estimate by an appropriate factor. Direct capitalization employs capitalization rates and multipliers extracted or developed from market data. Only one year’s income is used. Yield and value changes are implied, but not explicitly identified.

Income Approach Assumptions

Direct Cap Unit of Measure

Standard Dropdown

Pre-defined list (GBA SF, Units, etc.)

Income Approach Assumptions

Direct Cap Value Per

0 or $#,###.00

Income Approach Assumptions

Discounted Cash Flow Value

0 or $#,###

The procedure in which a discount rate is applied to a set of projected income streams and a reversion. The analyst specifies the quantity, variability, timing, and duration of the income streams and the quantity and timing of the reversion, and discounts each to its present value at a specified yield rate.

Income Approach Assumptions

Discounted Cash Flow Unit of Measure

Standard Dropdown

Pre-defined list (GBA SF, Units, etc.)

Income Approach Assumptions

Discounted Cash Flow Per

0 or $#,###.00

Income Approach Assumptions

Internal Rate of Return (Discount Rate)

#.##%

Discount rate applied to projected cash flows under the DCF Method

Income Approach Assumptions

Terminal Cap Rate

#.##%

Terminal cap rate applied to terminal cash flow projection under the DCF Method

Operating Data

Data Period Type

Standard Dropdown

Categorization of financial information as actual vs projection (or forecast)

Operating Data

Period

MM/DD/YYYY

End date of time period for financial information

Operating Data

Period Type Qualifier

Standard Dropdown

Additional detail / categorization of financial information data type

Operating Data

Financial Information Data Source

Standard Dropdown

Source (provider) of information for financial information. Assumes single source - if multiple, select primary source

Operating Data

Rental Income

0 or $#,###

Total amount of revenue from leased spaces or units.

Operating Data

Other Income

0 or $#,###

All income generated in the operation of the property that is not derived directly from space rental.

Operating Data

Potential Gross Income

0 or $#,###

The total income attributable to property at full occupancy before vacancy and operating expenses are deducted.

Operating Data

- Vacancy & Collection Loss

0 or $#,###

A deduction from potential gross income (PGI) made to reflect income reductions due to vacancies, tenant turnover, and nonpayment of rent;

Operating Data

Effective Gross Income

0 or $#,###

Gross Rental Revenue plus other income items, less vacancy and collection loss

Operating Data

Variable Expenses

0 or $#,###

Operating expenses that generally vary with the level of occupancy or the extent of services provided.

Operating Data

Fixed Expenses

0 or $#,###

Operating expenses such as property taxes and insurance that generally do not vary with occupancy and that prudent management will pay for whether the property is occupied or vacant.

Operating Data

Ground Lease Expense

0 or $#,###

The rent paid for the right to use and occupy land according to the terms of a ground lease; the portion of the total rent allocated to the underlying land.

Operating Data

Operating Expenses

0 or $#,###

The sum of all fixed and variable operating expenses and the replacement allowance cited in the appraiser’s operating expense estimate.

Operating Data

Reserves

0 or $#,###

An allowance that provides for the periodic replacement of building components that wear out more rapidly than the building itself and must be replaced during the building’s economic life; sometimes referred to as reserves or reserves for replacement.

Operating Data

Reserves Included?

Standard Dropdown

Did info provider include Replacement Allowance (Reserves) line item in their calculation of operating expenses (yes-default) or show as capital item (no)

Operating Data

Ground Lease Included?

Standard Dropdown

Did info provider include Ground Rent line item in their calculation of operating expenses (yes-default) or show as capital item (no)

Operating Data

Net Operating Income

0 or $#,###

Net operating income: EGI value - OpEx value

Operating Data

Occupancy Rate

#.##%

Percent of space occupied / paying rent

Operating Data

Vacancy Rate

#.##%

Percent of Vacant Space

Cost Approach Value

Cost Approach Value

0 or $#,###

Concluded valuation via the Cost Approach

Cost Approach Value

Cost Approach Unit of Measure

Standard Dropdown

Pre-defined list (GBA SF, Units, etc.)

Cost Approach Value

Cost Approach Value Per

0 or $#,###.00

Indexed (normalized) Cost Approach Value by unit of measure

Cost Approach Value

Direct or Hard Costs

0 or $#,###

Expenditures for the labor and materials used in the construction of improvements; also called hard costs.

Cost Approach Value

Indirect or Soft Costs

0 or $#,###

Expenditures or allowances for items other than labor and materials that are necessary for construction, but are not typically part of the construction contract. Indirect costs may include administrative costs, professional fees, financing
costs and the interest paid on construction loans, taxes and the builder’s or developer’s all-risk insurance during construction, and marketing, sales, and lease-up costs incurred to achieve occupancy or sale. Also called soft costs.

Cost Approach Value

Entrepreneurial Profit

0 or $#,###

A market-derived figure that represents the amount an entrepreneur received for his or her contribution to a past project to compensate for his or her time, effort, knowledge, and risk; the difference between the total cost of a
property (cost of development) and its market value (property value after completion), which represents the entrepreneur’s compensation for the risk and expertise associated with development. An entrepreneur is motivated by
the prospect of future value enhancement (i.e., the entrepreneurial incentive). An entrepreneur who successfully creates value through new development, expansion, renovation, or an innovative change of use is rewarded by
entrepreneurial profit. Entrepreneurs may also fail and suffer losses.

Cost Approach Value

Site Improvement Costs

0 or $#,###

Improvements on and off a site that make it suitable for its intended use or development. On-site improvements include grading, landscaping, paving, and utility hookups; off-site improvements include streets, curbs, sidewalks, drains, and connecting utility lines.

Cost Approach Value

Total Depreciation

0 or $#,###

In appraisal, a loss in the value of improvements from any cause; the difference between the cost of an improvement on the effective date of the appraisal and the value of the improvement on the same date.

Sales Comparison Approach

Sales Approach Value

0 or $#,###

Concluded valuation via the Sales Approach

Sales Comparison Approach

Sale Approach Unit of Measure

Standard Dropdown

Pre-defined list (GBA SF, Units, etc.)

Sales Comparison Approach

Sales Approach Value Per

0 or $#,###.00

Indexed (normalized) Sales Approach Value by unit of measure

Development Approach

Bulk Discounted Value

0 or $#,###

Concluded value on bulk discounted basis