TORONTO, May 26, 2020 (GLOBE NEWSWIRE) -- Granite Real Estate Investment Trust (“Granite” or “the REIT”) (TSX: GRT.UN / NYSE: GRP.U) announced today that it and Granite REIT Inc. … The site is in Atlanta’s Palmetto sub-market near the I-85 thoroughfare less than 15 miles from Hartsfield-Jackson Atlanta International Airport, the world’s busiest passenger airport. Granite Real Estate Investment Trust ("Granite" or the "REIT") (TSX: GRT.UN / NYSE: GRP.U) announced today that it has closed its previously announced public offering (the "Offering") of … Sign Up For Email Alerts The “Risk Factors” section of the Annual Information Form and the Q1 MD&A also contain information about the material factors or assumptions underlying such forward-looking statements and forward-looking information. The transaction is expected to close in Q4 2020. TORONTO, Nov. 17, 2020 (GLOBE NEWSWIRE) -- Granite Real Estate Investment Trust (“Granite” or “the REIT”) (TSX: GRT.UN / NYSE: GRP.U) announced today that it has completed or … © 2020 GlobeNewswire, Inc. All Rights Reserved. The property is PVH’s primary e-commerce distribution facility and is being acquired at an in-going yield of 4.4 per cent. The offering allows us to maintain our strong balance sheet position with estimated pro forma liquidity of approximately C$960 million.”. Each Unit is comprised of one trust unit of the REIT and one common share of Granite REIT Inc. Granite had its roots as the real estate arm of Magna, but has been steadily diversifying and repositioning its portfolio. Granite … Toronto-based Granite (NYSE: GRP.U) reported it has agreed to acquire 8500 … Granite … The Real Estate News Exchange (RENX) is an online service that provides news, information and commentary about the Canadian built environment. Kevin Gorrie, president and CEO of Granite REIT. Forward-looking statements and forward-looking information may include, among others, statements regarding the expected closing date of the Offering, Granite’s intended use of the net proceeds of the Offering to fund potential future acquisitions and commitments under the REIT’s existing development projects and for general trust purposes, Granite’s intention and ability to make future investments and acquisitions on satisfactory terms, Granite’s pro forma liquidity position assuming completion of the Offering, and Granite’s plans, goals, strategies, intentions, beliefs, estimates, costs, objectives, economic performance, expectations, or foresight or the assumptions underlying any of the foregoing. TORONTO--(BUSINESS WIRE)--Nov 24, 2020--Granite Real Estate Investment Trust (“ Granite ” or the “ REIT ”) (TSX: GRT.UN / NYSE: GRP.U) announced today that it has closed its … It continues to like the metrics in both Georgian cities. “Atlanta has been on our radar for quite a while – we think it is a very important logistics market,” Gorrie said. U.K.-Canada deal hit by delays, threatening trade on WTO … “There has been a lot of supply but demand to date has been able to keep up with it.”. Prior to joining RENX, Don…. In the Greater Toronto Area, Granite closed on three acquisitions: * 8995 Airport Rd., a 100,000-square-foot, 26-foot clear modern distribution facility on 5.5 acres of land in Brampton. The securities to be offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. “In the U.S., it was a different story. Kevan Gorrie, Granite’s President and CEO, commented that, “The proceeds from the equity offering position the REIT to continue to execute on high-quality acquisition opportunities, including some of which that are in advanced negotiations with vendors and that are consistent with our stated strategy. ABOUT GRANITE Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and … Granite Real Estate Investment Trust ("Granite") (TSX: GRT.UN / NYSE: GRP.U) announced today that its board of trustees has declared a distribution of CAD $0.242 per stapled unit for the month of November 2020. The distribution will be paid by Granite … NOT FOR DISTRIBUTION TO U.S. NEWSWIRE OR FOR DISSEMINATION TO THE UNITED STATES December 3, 2020, Toronto, Ontario, Canada – Granite Real Estate Investment Trust (“Granite” or the “REIT”) (TSX: GRT.UN / NYSE: GRP.U) announced today that its wholly owned subsidiary Granite REIT Holdings Limited Partnership (“Granite … Granite … The REIT’s Q3 financial highlights reported net operating income of $76.5 million, up significantly from $60.1 million in Q3 2019 due mainly to acquisitions. Granite … The trust (GRT-UN-T) announced this week the acquisitions of three properties in the Greater Toronto Area (each about 100,000 square feet), a firm agreement to buy a million-square-foot distribution centre in Atlanta and dispositions of three non-core Magna-tenanted facilities, one in Barcelona and the other two in Southwestern Ontario. It’s leased for 10 years, with contractual rent escalations, representing an in-going yield of 4.6 per cent. Forward-looking statements and forward-looking information speak only as of the date the statements and information were made and unless otherwise required by applicable securities laws, Granite expressly disclaims any intention and undertakes no obligation to update or revise any forward-looking statements or forward-looking information contained in this press release to reflect subsequent information, events or circumstances or otherwise. Granite’s dispositions included two Magna-tenanted sited in Tecumseth and St. Catharines in Ontario, as well as a third in Barcelona for a total of $31.3 million. The REIT has received 98% of May rent due (compared to 95% as at May 13, Requests have been received for deferrals of rent from 11 tenants for a weighted average period of 3.7 months and for rent abatements from 7 tenants for a weighted average period of 2.9 months, combined totaling approximately $7.3 million, representing approximately 2.6% of Granite’s total portfolio based on annualized revenue. The Week Ahead: Housing data, Cenovus-Husky shareholder meeting. The 7.6-acre site contains excess land which could support an expansion of about 40,000 square feet. TORONTO — Granite Real Estate Investment Trust (“Granite” or the “REIT”) (TSX: GRT.UN / NYSE: GRP.U) announced today that it has closed its previously announced … Further to the REIT’s previous updates on the impacts of the COVID-19 pandemic on its operations, the status of rent collection for April and May and requests for deferral or abatement as at May 26, 2020 is summarized below: (1) Annualized revenue is calculated as rental revenue excluding tenant recoveries, for the month of March 2020, recognized in accordance with IFRS, multiplied by 12 months. We like the markets, we love the quality of the assets and we felt that they provided strong growth potential. “The pace of our acquisition activity to date has been slower, but frankly that has been more a factor of the steep increase in pricing for good assets in our target markets during the second and third quarters than a lack of opportunities,” Granite president and CEO Kevan Gorrie told analysts and investors on the trust’s quarterly financials call this week. The expansion of Granite REIT’s industrial portfolio continued without pause during Q3 2020, with the additions of 1.3 million more square feet of space, a move into a new U.S. market and an increase in the trust’s distributions to shareholders. “At this time, I would characterize our acquisitions pipeline as being very active and we expect to commit a good portion of our cash on hand by the end of the year.”. Granite paid $22.2 million in a sale-leaseback of the Canadian headquarters of GameStop Corporation, for an initial five-year term at an in-going yield of 5.1 per cent; * Four industrial buildings in Mississauga, totalling about 100,000 square feet on 6.1 acres of contiguous land, for $19.5 million. Forward-looking statements and forward-looking information should not be read as guarantees of the closing of the Offering, Granite’s intended use of the net proceeds of the Offering, Granite’s intention and ability to acquire and develop properties on satisfactory terms, or other events, performance or results and will not necessarily be accurate indications of whether or the times at or by which future events or performance will be achieved. Granite REIT enters Atlanta market The acquisitions include an agreement to acquire 8500 Tatum Rd., a million-square-foot, 36-foot clear height modern warehouse distribution facility on 83.5 … A high-level overview of Granite Real Estate Investment Trust (GRP.U) stock. The state-of-the-art facility was completed in 2019 and is leased to PVH Corp. for 15 years. Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States. We want to continue to find opportunities and grow our footprint in that market.”. The AFFO payout ratio was 80 per cent for the quarter, up two per cent from 2019. Canada's Granite Real Estate Investment Trust is buying a big new Atlanta distribution center for $80 million. Words such as “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “seek”, “objective” and similar expressions are used to identify forward-looking statements and forward-looking information. The acquisitions include an agreement to acquire 8500 Tatum Rd., a million-square-foot, 36-foot clear height modern warehouse distribution facility on 83.5 acres in Atlanta, for $107 million. The REIT intends to use the net proceeds from the Offering to fund potential future acquisitions and commitments under the REIT’s existing development projects and for general trust purposes. “We potentially mistakenly thought there would be more value opportunity out there as a result of COVID, but there was just too much capital chasing good industrial product in our target markets and pricing became much more competitive, much faster than we had expected.”. Forward-looking statements and forward-looking information are based on information available at the time and/or management’s good faith assumptions and analyses made in light of its perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances, and are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond Granite’s control, that could cause actual events or results to differ materially from such forward-looking statements and forward-looking information. It also benefited from same property an NOI increase of three per cent, driven by a couple of significant rent increases. This press release may contain statements that, to the extent they are not recitations of historical fact, constitute “forward-looking statements” or “forward-looking information” within the meaning of applicable securities legislation, including the United States Securities Act of 1933, as amended, the United States Securities Exchange Act of 1934, as amended, and applicable Canadian securities legislation. Our acquisition pipeline remains robust at pricing levels we view as attractive within the current market backdrop, and we see positive momentum for industrial sector fundamentals. “So, we were willing for the weighted average lease term to go down and capture some growth because we believe in the quality of those assets and the locations.”, Don is a veteran editor and journalist with over three decades of experience in print and online news, including 20 years at the Ottawa Sun. About Granite Granite REIT is a Canadian-based real estate investment trust engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North … Gorrie said expectations there might be some asset pricing reductions due to the COVID-19 pandemic have not materialized, except in a very few instances. Latest News. Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Article content. For further information, please see our website at www.granitereit.com or contact Teresa Neto, Chief Financial Officer, at 647-925-7560 or Andrea Sanelli, Manager, Legal & Investor Services, at 647-925-7504. On June 18, 2020, Granite closed on the acquisitions of four of a portfolio of five income-producing properties located in the Midwest markets of Cincinnati, Columbus and Indianapolis in the … Granite is already active in the nearby Savannah market, owning a couple of properties in the area which have access to its busy port facilities. In-place rents are significantly below market. Undue reliance should not be placed on such statements. The divestments leave it with about 35 per cent of its revenues from Magna, a figure it expects to pare to about 30 per cent over the next year or so. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. ”We don’t believe we are done in the Atlanta market. No rent deferrals or rent abatements have been granted to date and Granite is currently in discussion with all tenants in arrears. Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. For its investors, the trust increase its annual distribution rate 3.4 per cent to $3 per unit, or $0.25 per month, beginning in December. In total, the … Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Consumer sentiment in U.S. rises unexpectedly on vaccine news. Copies of financial data and other publicly filed documents about Granite are available through the internet on the Canadian Securities Administrators’ Systems for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com and on the United States Securities and Exchange Commission’s Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov. Granite owns over 90 rental income properties representing approximately 40.3 million square feet of leasable area. Important factors that could cause such differences include, but are not limited to, the risks set forth in the annual information form of Granite Real Estate Investment Trust and Granite REIT Inc. dated March 4, 2020 (the “Annual Information Form”) and management’s discussion and analysis of results of operations and financial position for the three months ended March 31, 2020 (“Q1 MD&A”). The investment market – market fundamentals to a degree, but the investment market – snapped back much faster. Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Its portfolio data, Cenovus-Husky shareholder meeting Estate arm of Magna, but the investment market – fundamentals... 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