The phrase refers to a category of property investment characterized by stability, low risk, and predictable income streams. Such investments typically involve well-occupied, high-quality assets located in major metropolitan areas. Examples include stabilized Class A office buildings with long-term leases, or multi-family residential properties with consistently high occupancy rates in desirable locations.
Investing in this category provides diversification, protection against economic downturns, and a relatively consistent cash flow. Historically, these assets have demonstrated resilience and retained value during periods of market volatility, making them an attractive option for long-term institutional investors, pension funds, and those seeking stable returns.