Granite REIT Announces Closing of Property Acquisition in the United States

TORONTO, Aug. 9, 2013 /PRNewswire/ - Granite Real Estate Investment Trust ("Granite") (TSX: GRT.UN /NYSE: GRP.U) today announced that it has closed its acquisition of a 600,000 square foot logistics-distribution facility in West Chester (Cincinnati), Ohio from Fifth & Pacific Companies, Inc. (NYSE: FNP) at a purchase price of U.S. $21.0 million.  The agreement to acquire the property was previously announced on July 30, 2013.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the ownership and management of predominantly industrial properties in North America and Europe. Granite owns approximately 30 million square feet and over 100 properties. Our tenant base currently includes Magna International Inc. and its operating subsidiaries as our largest tenants, together with tenants from other industries.

OTHER INFORMATION

Copies of financial data and other publicly filed documents are available through the internet on Canadian Securities Administrators' Systems for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com and on the United States Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov. For further information, please see our website at www.granitereit.com or contact Tom Heslip, Chief Executive Officer, at 647-925-7539 or Michael Forsayeth, Chief Financial Officer, at 647-925-7600.

SOURCE Granite REIT