The non-cancellable period for which the lessee has contracted to lease the asset, together with any further terms for which the lessee has the option to continue to lease the asset, with or without further payment, when at the inception of the lease it is reasonably certain that the lessee will exercise the option.

AIFMG 2009

Method by which an asset is acquired. Examples include purchase, lease, build.

Through the use of long-term ground leases organisations secure a future strategic asset while facilities are provided by private companies. Upon termination of the lease the lessor has the right for the building ownership to be transferred to the leaseholder or demolished and grounds reinstated. - IIMM

A lease that is cancellable only upon the occurrence of some remote contingency, or with the permission of the lessor, or if the lessee enters into a new lease for the same or an equivalent asset with the same lessor, or upon payment by the lessee of such an additional amount that, at the inception of the lease, makes the continuation of the lease reasonably certain. AIFMG 2009

This model involves an organisation purchasing land and constructing the facility, selling on completion, then the organisation leasing the property back. This enables the facilities to be provided at no capital cost and the lease costs to be matched with the benefits delivered. - IIMM