Granite Real Estate Completes Conversion to Granite REIT

Granite Real Estate Inc. (“Granite Co.”) completed its conversion from a corporate structure to a stapled unit real estate investment trust structure.

The conversion was implemented pursuant to a plan of arrangement under the Business Corporations Act (Quebec). Under the plan of arrangement, all of the common shares of Granite Co. were exchanged, on a one-for-one basis, for stapled units, each of which consists of one unit of Granite Real Estate Investment Trust (“Granite REIT”) and one common share of Granite REIT Inc. (together with Granite REIT, “Granite”).

On January 4, 2013, the stapled units began trading on the Toronto Stock Exchange under the symbol “GRT.UN” and on the New York Stock Exchange under the symbol “GRP.U.”

Granite is a Canadian-based REIT engaged in the ownership and management of predominantly industrial properties in North America and Europe.

Granite owns approximately 29 million square feet in 106 rental income properties.

Granite was represented in-house by Jennifer Tindale, Executive Vice-President, General Counsel and Secretary, and Lawrence Clarfield, Legal Counsel, Real Estate, and was assisted by Blake, Cassels & Graydon LLP, with a team including Jeff Lloyd, Brendan Reay, Tim Andison, Catherine Youdan, Matthew Merkley, Jacky Sin, Susan Tomaine, Kurt Sarno, Rory ffrench, Paul Martel and Eric Poole (corporate/securities); Sébastien Guy and Adam Spiro (litigation); Elizabeth Boyd (pensions and employee benefits) and Lauren Temple (real estate). John Ulmer, Neal Armstrong, Abraham Leitner and Megan Grandinetti of Davies Ward Phillips & Vineberg LLP advised Granite on Canadian and US tax matters.

Granite was also represented on US matters by Edwin Maynard, Stephen Centa and Tim Phillips (corporate/securities); Mitchell Berg and Barry Langman (real estate) and Lawrence Witdorchic and Lauri Penn (benefits) of Paul, Weiss, Rifkind, Wharton & Garrison LLP.

Allen & Overy LLP, with a team including Eugen Bogenschütz, Sven Prüfer, Katrin Gaensler, Markus Herz, Jean Schaffner, Marc Feider and Marie Arnaud, acted as German and Luxembourg counsel. In Austria and the UK, Granite was represented by Freshfields Bruckhaus Deringer LLP with a team including Claus Staringer, Lars Gläser, Oliver-Christoph Günther and Murray Clayson (tax); Thomas Zottl (corporate/real estate); Felix Neuwirther (real estate); Florian Klimscha (finance) and Sandra Jedinger (corporate).