Physical completion is the state of project where it is functioning, but has not yet started to generate cash flows.
Equipment Installation means facilities attached to a building (or integrated into its structure) and which are not removable without damage to the building or structure. These include elevators, escalators, plumbing and electrical wiring, firefighting equipment and water sprinklers, and cooling, heating, ventilation systems. Generally, in view of law, installed equipment becomes a part of a property and is sold and conveyed with it. Also called installed property.