Granite Real Estate Investment Trust

Description

Granite Real Estate Investment Trust, listed on the Toronto Stock Exchange under the ticker of 'GRT.UN', is a Canadian real estate investment trust (REIT).

The trust is engaged in the development, acquisition, ownership and management of properties in the industrial real estate sector.

It is an open-ended, unincorporated, limited purpose trust governed by the laws of the Province of Ontario.

In addition, it also provides properties on a rental basis. The company's main operations are concentrated in North America and Europe. The portfolio consists of various income-producing real estate properties, including industrial properties, warehouses, logistics and multi-purpose facilities.

According to the March 2021 annual information form, the Toronto-based company claims to own an estimated 49.4 million square feet area representing approximately 115 income-producing properties in seven countries.

Magna International Inc and its subsidiaries are one of the company's significant tenants and reportedly contribute to a major portion of the total revenue.

The tenant base also includes other names such as Cardinal Health, Mercedes-Benz, DHL, LGI Logistics Group International, etc.

The Toronto-based real estate investment trust owns and manages various income-producing properties categorized as under:

• Light and heavy industrial properties
• Manufacturing facilities
• Test Facilities
• Warehouses
• Logistics properties
• Centres for development of products
• Engineering centers
• Corporate offices

The real estate investment trust says it focuses on conservative capital ratios, prioritizing proactive management and strategic allocation of the capital. In addition, the firm also claims to own and develop quality institutional real estate.

Granite provides and manages investment properties in various countries, including Canada, the United States, the Netherlands, the Czech Republic, Spain, Germany, the United Kingdom and Austria.

The company says its seven special-purpose properties are occupied exclusively by Magna in Canada, Austria and Germany.

Granite Real Estate Investment Trust is listed on the New York Stock Exchange and trades under the stock symbol 'GRP.U'.