Granite Real Estate Investment Trust and Granite REIT Inc. (collectively, Granite) has established an at-the-market equity distribution program (the ATM Program), pursuant to which Granite may sell up to $250 million of stapled units on the Toronto Stock Exchange at the prevailing market prices at the time of sale. The launch of the ATM Program was announced on November 3, 2021.
Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 126 investment properties representing approximately 53.3 million square feet of leasable area.
Granite was represented by its Senior Vice President, Legal Counsel, Lawrence Clarfield and by Blake, Cassels & Graydon LLP with respect to corporate/securities matters, with a team that included Jeff Lloyd, Brendan Reay, Kendall Grant, Luke Hills and Beverly Cheung; by Davies Ward Phillips & Vineberg LLP with respect to tax matters, with a team that included Neal Armstrong and Eytan Dishy (Canadian tax) and Peter Glicklich and Heath Martin (U.S. tax); and by Paul, Weiss, Rifkind, Wharton & Garrison LLP with respect to U.S. matters, with a team that included Christopher Cummings, Steve Centa and Anderson Christie.
BMO Nesbitt Burns Inc., Scotia Capital Inc. and TD Securities Inc. are acting as agents in connection with the ATM Program.
The underwriters were represented by McMillan LLP with a team comprising Georges Dubé, Jeffrey Gebert, Arjin Choi and Ouvedi Rama Naiken (corporate/securities) and Ted Thiessen (tax).