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Granite Real Estate Investment Trust has announced the pricing of a C$500 million offering of 2.194% Series 6 senior unsecured debentures due August 30, 2028. The debentures, guaranteed by Granite and Granite REIT Inc., are part of the company's second green bond issuance. The offering is expected to close on or about August 30, 2021, pending customary closing conditions. Proceeds will fund Eligible Green Projects as per Granite's Green Bond Framework. The company has engaged Scotia Capital Inc. and RBC Capital Markets as co-leads for the offering.
Granite Real Estate Investment Trust (NYSE: GRPU) has announced the acquisition of a development property in Brantford, Ontario, and a portfolio of five income-producing properties in the U.S., totaling approximately 4.2 million square feet for about C$330.7 million. The Brantford site will develop logistics space expected to yield 5.5% upon stabilization. Also, Granite has initiated a build-to-suit lease of 690,000 square feet with an e-commerce retailer in Houston, complementing its existing projects. These acquisitions aim to enhance Granite's portfolio and provide substantial net asset value growth.
Granite Real Estate Investment Trust (Granite) (TSX: GRT.UN / NYSE: GRP.U) has declared a distribution of CAD $0.250 per stapled unit for August 2021. This distribution will be paid on September 15, 2021, to unitholders of record by the close of trading on August 31, 2021. The units will trade ex-dividend starting August 30, 2021. The distribution does not constitute effectively connected income for U.S. federal tax purposes. Granite owns 118 investment properties totaling approximately 51.3 million square feet across North America and Europe.
Granite Real Estate Investment Trust (GRP.U), announced a CAD $0.250 monthly distribution for July 2021, payable on August 16, 2021, to unitholders on record as of July 30, 2021. The stapled units will trade ex-dividend starting July 29, 2021, on both the Toronto and New York Stock Exchanges. The distribution does not qualify as effectively connected income for U.S. federal tax purposes. Granite owns 115 properties across North America and Europe, totaling approximately 50.4 million square feet of leasable area.
Granite Real Estate Investment Trust (TSX: GRT.UN / NYSE: GRP.U) will announce its financial results for the second quarter ended June 30, 2021 on August 4, 2021, after market close. A conference call, led by President and CEO Kevan Gorrie, will follow on August 5, 2021, at 11:00 a.m. ET. Interested participants can call 1 (800) 908-8951 (North America) or 1 (416) 641-6712 (International). A replay will be available until August 16, 2021. Granite operates in the logistics, warehouse, and industrial property sectors, with a portfolio of 115 properties covering approximately 50.4 million square feet.
Granite Real Estate Investment Trust (TSX: GRT.UN / NYSE: GRP.U) has declared a distribution of CAD $0.250 per stapled unit for June 2021. This payment will be made on July 15, 2021, to unitholders recorded by the close of trading on June 30, 2021. Trading on an ex-dividend basis will commence on June 29, 2021. Furthermore, Granite confirms that this distribution does not constitute effectively connected income for U.S. federal tax purposes. The company manages logistics and industrial properties across North America and Europe, owning 115 properties totaling approximately 50.4 million square feet.
Granite Real Estate Investment Trust (Granite REIT) and Granite REIT Inc. (Granite GP) reported the results of their joint annual general meetings, attended by 74% of stapled unitholders. All nominated trustees and directors were successfully elected, with Peter Aghar receiving 99.78% support as a trustee, while Remco Daal garnered 99.82% as a director. The re-appointment of Deloitte LLP as auditors was also approved with 99.93% support. Granite owns and manages 115 properties totaling approximately 50.4 million square feet in North America and Europe.
Granite Real Estate Investment Trust has received approval from the Toronto Stock Exchange for a Normal Course Issuer Bid (NCIB), allowing it to repurchase up to 6,154,057 stapled units over the next 12 months. This represents about 10% of its public float as of May 17, 2021. The NCIB will begin on May 21, 2021, and daily purchases are capped at 46,074 units. The Board believes these repurchases, especially at prices below intrinsic value, are beneficial for the company's financial health.
Granite Real Estate Investment Trust (TSX: GRT.UN / NYSE: GRP.U) declared a distribution of CAD $0.250 per stapled unit for May 2021. This distribution will be paid on June 15, 2021, to unitholders of record as of the close of trading on May 28, 2021. The stapled units will begin trading on an ex-dividend basis on May 27, 2021. Additionally, Granite confirms that no portion of the distribution is considered effectively connected income for U.S. federal tax purposes, with further details to be provided in a qualified notice.
