A lease portfolio refers to a collection or group of real estate properties that are being rented out under various leases. This term is commonly used in commercial real estate, where investors will purchase multiple properties and then rent them out on a long-term basis through leases. The lease portfolio represents the income stream generated from these leased properties, as well as the overall value of the assets themselves. Investors may manage their lease portfolios to maximize returns and minimize risks associated with property management, vacancies, and changes in market conditions.