Sector Hub · 3 Property Types
Meta-sector real estate covers airports (passenger + cargo + general aviation facilities — typically owned by quasi-public airport authorities), transit hubs (train stations, bus terminals, intermodal hubs, ferry terminals — typically owned by transit authorities), and Unknown / Unclassified (the fallback category for properties pending classification by Ilora.ai's engine). The category exists because some property types — especially airports and transit hubs — don't cleanly map to any of the other 10 sectors despite having significant real estate exposure. Most major US airports + transit hubs are owned by public authorities rather than REITs; international privatized examples include AENA (Spain), Aeroports de Paris (ADP), Heathrow Airport Holdings (private), Auckland International (AIA). Meta-sector properties typically generate revenue from concessions (retail, F&B, parking, rental car) layered on top of underlying transportation operations. Adjacent industrial-REIT exposure: Prologis (PLD) and First Industrial (FR) hold intermodal cargo facilities. Ilora.ai treats META as a guard-rail category — better to flag UNKNOWN explicitly than assign incorrect type-specific KPIs.
Property Types
Canonical KPIs
Common Questions
Airports (passenger + cargo + general aviation), transit hubs (train stations, bus terminals, intermodal hubs, ferry terminals), and Unknown / Unclassified (the fallback category for properties pending sector + type assignment). Three property types covering cross-sector use.
Some property types — especially airports and transit hubs — don't cleanly map to any of the other 10 sectors despite significant real estate exposure. META is a first-class taxonomy bucket, not a guard rail. UNKNOWN within META is the fallback for properties pending classification.
US airports are predominantly quasi-public airport authorities — joint city / county / state entities operating airports as independent authorities with public bond financing access. Privatization is rare. International privatized airports trade publicly: AENA (Spain), ADP (France), Heathrow (private), AIA (Auckland).
UNKNOWN is a fallback for properties pending classification by Ilora.ai's engine. UNKNOWN properties receive only Universal KPIs (NOI, Cap Rate, DSCR, LTV, OER, GRM, IRR, CoC, DCF, TTM) until classification is complete. Once classified, sector-specific + type-specific KPIs apply.