Granite REIT Announces Completion of Mexican Portfolio Sale

TORONTO, June 26, 2014 /CNW/ - Granite Real Estate Investment Trust ("Granite") (TSX: GRT.UN; NYSE: GRP.U) announced today that it has completed the previously disclosed disposition of its portfolio of Mexican properties to a subsidiary of Magna International Inc. ("Magna") for a purchase price of U.S. $105.0 million, before closing adjustments.  The portfolio of eight properties was leased to Magna and represents an aggregate of approximately 2.4 million square feet.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the ownership and management of predominantly industrial, warehouse and logistics properties in North America and Europe. Granite owns approximately 29 million square feet in over 100 rental income properties. Our tenant base currently includes Magna International Inc. and its operating subsidiaries as our largest tenants, together with tenants from other industries.

OTHER INFORMATION

Copies of financial data and other publicly filed documents are available through the internet on the Canadian Securities Administrators' System 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 Tom Heslip, Chief Executive Officer, at 647-925-7539 or Michael Forsayeth, Chief Financial Officer, at 647-925-7600.

SOURCE: Granite Real Estate Investment Trust

For further information: please see our website at www.granitereit.com or contact Tom Heslip, Chief Executive Officer, at 647-925-7539 or Michael Forsayeth, Chief Financial Officer, at 647-925-7600.

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