Granite Real Estate Investment Trust

Granite owns properties leased under long-term triple-net leases, meaning tenants pay property taxes, insurance, and maintenance. This provides stable, predictable cash flow. The trust distributes most taxable income to unitholders as dividends, typical for REIT structure.

Granite targets industrial, logistics, and infrastructure properties. Its portfolio includes manufacturing plants, warehousing facilities, distribution centers, and data centers. The trust avoids office, retail, and residential real estate.

Granite is a publicly traded REIT listed on the TSX and NYSE. It maintains standard governance with an independent board and quarterly financial disclosure. It is not a family office, though its origins are tied to Magna International's real estate spin-off.

Michael Forsayeth serves as President and CEO, overseeing strategy and capital allocation. The board and management team operate within the trust's mandate to acquire and manage industrial properties. Detailed bios are available in the firm's annual filings.

Granite holds properties primarily in Canada, the United States, and Europe. Major markets include Ontario, Quebec, the U.S. Midwest and Southeast, and countries such as Germany and the United Kingdom.

Granite was created from the spin-off of Magna International's real estate assets, and Magna remains a significant tenant. However, Granite operates independently with a diversified tenant base. This lineage gives Granite a portfolio of functional industrial properties built to tenant specifications.

Granite uses a mix of debt and equity. The trust issues unsecured debentures, draws on credit facilities, and may issue new units. In March 2024, it raised $300 million through a debenture offering for refinancing and future acquisitions.