Business
Granite REIT Announces C$292 Million in Acquisitions, C$190 Million in Dispositions and Provides a Leasing Update
Granite Real Estate Investment Trust (TSX: GRT.UN) (“Granite”) announced today the ...
About this update from Granite Real Estate Investment Trust
[{"type":"text","content":"Granite REIT Announces C$292 Million in Acquisitions, C$190 Million in Dispositions and Provides a Leasing Update\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }\n \n\n\n\n Granite Real Estate Investment Trust (TSX: GRT.UN) (“Granite”) announced today the recent acquisition of five income-producing properties in the United States comprising approximately 1.2 million square feet at a combined purchase price of approximately $256.1 million (US$185.7 million). The properties were acquired at an in-going weighted average yield of approximately 4.7% and are expected to stabilize at an approximate 6.0% yield within two years. In addition, Granite has acquired an income-producing property on a 15-acre parcel of land in the United Kingdom for the planned future development of a 0.3 million square foot state-of-the-art e-commerce and logistics warehouse.\n \n\n This press release features multimedia. View the full release here:\n \n https://www.businesswire.com/news/home/20260114929575/en/\n \n\n\n\n\n 201 NW 22nd Avenue, Fort Lauderdale, Florida\n \n\n\n On December 19, 2025, Granite completed the disposition of three income-producing properties in the United States, comprising 1.7 million square feet, for total proceeds of $189.5 million (US$137.5 million). The properties were identified as part of Granite’s strategic disposition program and were sold at a weighted average in-going yield of 6.1%. As at September 30, 2025, the sold assets were classified as assets held for sale.\n \n\n Granite also announced today that during the fourth quarter of 2025, Granite entered into new leases for approximately 769,000 square feet of previously vacant space.\n \n\n Kevan Gorrie, Granite’s President and CEO, commented that, “The transactions announced today reflect a successful execution and rebalancing of the portfolio, including our reentry into the United Kingdom, which we expect in the near term, to generate accretive income and net asset value growth for our unitholders. In addition, recent leasing momentum and an in-place occupancy rate of 98% further underscores the strength and quality of Granite’s portfolio and our ability to provide the best-in-class locations and functionality that cater to tenants’ current requirements.”...