WALE is an abbreviation of Weighted Average Lease Expiry. It is used by property companies as an indicator of the average remaining life of the leases within their portfolios, taking into account the size. This can be the size of either expected income or space. Therefore large tenants can shift the balance of things, especially if they have a longer lease lengths. Most listed companies use WALE in reference to space/rentable area, however this is certainly not always the case, as we see clients reporting WALE in reference to income.
A similar term is WAULT, Weighted Average Unexpired Lease Term in portfolios. More can be learnt here.
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