Adjusted Funds From Operations (AFFO)
FFO moved closer to distributable cash: it deducts the recurring capital spending needed to keep the buildings let (maintenance capex, tenant improvements and leasing commissions) and straight-line rent recognised before it is received, and usually adds back share-based pay. There is no single standard definition, so it is compared across REITs with care. The dividend is judged against it.
Where Adjusted Funds From Operations (AFFO) comes up
Keep reading
Real estate modelsRelated Real Estate terms
Go further than reading
The written material is free. These are the ways to get it applied to your own work.
CV Review by a Human
Written margin-note feedback on structure, impact bullets and ATS-readability. Reviewed by Suro, not an AI score.
$25 48h turnaround
Cover Letter Review by a Human
Line-by-line review of argument, tailoring and tone, with a rewritten opening as a worked example.
$50 48h turnaround
L3VLUP Pro
The subscription: personalised alerts, Apply Packs, every answer marked, full history and the whole research library.
$25 /month
Browse the full glossary — 329 finance recruiting and technical terms, in plain English.