granite reit news

The 100,000-square-foot, 24-foot clear height light manufacturing industrial facility was bought on a sale-leaseback for $15.4 million. Minto Apartment REIT invests in Vancouver, now…, Relief for commercial tenants and property owners: Breaking down the CERS, TorQuest acquires VersaCold from KingSett, Ivanhoé, Minto Apartment REIT invests in Vancouver, now a national player, Starlight, BSR both expand U.S. multifamily portfolios, referring to two portfolio purchases made earlier in 2020, Granite to acquire 8 U.S. distribution centres for $332M, Granite buying $393M worth of U.S. distribution centres, Dream Industrial expands portfolio; gets BBB rating from DBRS, Western Canada Apartment Investment Conference. 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. No rent deferrals or rent abatements have been granted to date and Granite is currently in discussion with all tenants in arrears. Article content. 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. The Week Ahead: Housing data, Cenovus-Husky shareholder meeting. 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. We liked these opportunities because they were really good locations, they had a good growth profile and we felt the pricing was impacted by COVID,” he said, noting Granite attempted to avoid bidding wars which often develop on fully marketed assets. The Real Estate News Exchange (RENX) is an online service that provides news, information and commentary about the Canadian built environment. GRANITE REIT ANNOUNCES OFFERING OF C$500 MILLION 2.378% SENIOR DEBENTURES DUE 2030. “During the time, we saw a number of opportunities that crossed our radar in the GTA. 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. Securities Act”), and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. The property is PVH’s primary e-commerce distribution facility and is being acquired at an in-going yield of 4.4 per cent. 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. … 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. It’s leased for 10 years, with contractual rent escalations, representing an in-going yield of 4.6 per cent. Granite had its roots as the real estate arm of Magna, but has been steadily diversifying and repositioning its portfolio. Toronto-based Granite (NYSE: GRP.U) reported it has agreed to acquire 8500 … 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 … Prior to joining RENX, Don…. 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. “Those were shorter (remaining lease terms). “A big part of it was the portfolios we added in the Midwest and Memphis,” Gorrie said, referring to two portfolio purchases made earlier in 2020. 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. We want to continue to find opportunities and grow our footprint in that market.”. “In the U.S., it was a different story. 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. 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. We like the markets, we love the quality of the assets and we felt that they provided strong growth potential. ”We don’t believe we are done in the Atlanta market. 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 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. Granite also updated its development activities. 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. © 2020 GlobeNewswire, Inc. All Rights Reserved. The properties are at the junction of Highways 401, 410 and 403; * 555 Beck Crescent in Ajax. Canada's Granite Real Estate Investment Trust is buying a big new Atlanta distribution center for $80 million. 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. 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. AFFO was $52.7 million ($0.91 per unit) compared to $44.4 million ($0.90 per unit) a year earlier. 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. 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. “There has been a lot of supply but demand to date has been able to keep up with it.”. 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. Get the latest stock price for Granite Real Estate Investment Trust Stapled Units (GRT.UN), plus the latest news, recent trades, charting, insider activity, and analyst ratings. The distribution will be paid by Granite … The transaction is expected to close in Q4 2020. In-place rents are significantly below market. The weighted average lease term across the portfolio dipped from 6.5 to 5.9 years, but Gorrie said management is comfortable with that because it is mainly attributed to asset acquisitions. Consumer sentiment in U.S. rises unexpectedly on vaccine news. The 7.6-acre site contains excess land which could support an expansion of about 40,000 square feet. It completed and occupied one property in the Netherlands “months ahead of schedule” and is moving ahead with plans to start construction on other developments in Houston and Forth Worth in Texas, as well as in Germany during the first half of 2021. Granite is targeting $100 to $140 million in development during 2021. 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 … In total, the … Thus, deploying capital has remained a challenge through both Q2 and Q3. Latest News. “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. 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 … 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. 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 … The properties are 100 per cent leased to four tenants for a weighted average lease term of 5.6 years, with a in-going yield of 4.1 per cent. Granite is a Canadian-based REIT engaged in the acquisition, … 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. The Offering is expected to close on or about June 2, 2020 and is subject to certain customary conditions including the approval of the Toronto Stock Exchange. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. 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 … 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. 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 … It also benefited from same property an NOI increase of three per cent, driven by a couple of significant rent increases. “I think the volume of opportunities continued to grow late in the second quarter and into the third, it’s just that pricing in our minds had gone up quite considerably and cap rates had fallen. The Units will be offered in Canada pursuant to a prospectus supplement filed under Granite’s short form base shelf prospectus dated September 12, 2019. GLA has grown from 40 million square feet to 45.4 million square feet. A high-level overview of Granite Real Estate Investment Trust (GRP.U) stock. 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. 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. Granite REIT (GRT-UN-T) says it is acquiring seven more industrial properties in the U.S. and Netherlands, and has closed on a previously announced acquisition in Atlanta. Renx ) is an online service that provides news, analysis, fundamentals, and! 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