Granite REIT Completes Sale of Mexican Portfolio

Granite Real Estate Investment Trust  announced that it has completed the previously disclosed disposition of its portfolio of Mexican properties to a subsidiary of Magna International Inc.  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.
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.

on June 27, 2014