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Granite REIT Announces Closing of C$231 Million Bought Deal Equity Offering
Granite REIT Announces Closing of C$231 Million Bought Deal Equity Offering Canada...
About this update from Granite Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nGranite REIT Announces Closing of C$231 Million Bought Deal Equity Offering\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, April 30, 2019\n\n\n\nTORONTO, April 30, 2019 /CNW/ - Granite Real Estate Investment Trust (\"Granite\") (TSX: GRT.UN / NYSE: GRP.U) announced today that it has closed its previously announced public offering (the \"Offering\") of 3,749,000 stapled units (the \"Units\"), inclusive of 489,000 Units issued pursuant to the exercise in full of the over-allotment option, at a price of C$61.50 per Unit for total gross proceeds of C$230,563,500.\nThe Offering was conducted on a bought deal basis through a syndicate of underwriters co-led by BMO Capital Markets and TD Securities.\nGranite intends to use the net proceeds from the Offering to partially fund the potential acquisition of two properties, one industrial income producing property in Columbus, Ohio and one development property located in Calgary, Alberta for total expected costs (post development) of C$126.3 million, as well as to fund development costs associated with Granite's previously announced Indiana development project and for general trust purposes.  \nABOUT GRANITE\nGranite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North America and Europe. Granite owns over 85 rental income properties representing approximately 35 million square feet of leasable area. \nOTHER INFORMATION \nCopies 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. For further information, please see our website at www.granitereit.com or contact Andrea Sanelli, Manager, Legal & Investor Services, at 647-925-7504 or...