Granite REIT Declares Monthly Distribution

TORONTO, March 17, 2015 /PRNewswire/ - Granite Real Estate Investment Trust ("Granite") (TSX: GRT.UN /NYSE: GRP.U) announced today that its board of trustees has declared a distribution on Granite's stapled units of CDN$0.192 per stapled unit.  The distribution will be paid by Granite on April 15, 2015 to stapled unitholders of record at the close of trading on March 31, 2015.  The stapled units will begin trading on an ex-dividend basis at the opening of trading on March 27, 2015 on the Toronto Stock Exchange and the New York Stock Exchange.

As it relates to certain unitholders, Granite confirms that no portion of the above distribution constitutes effectively connected income and that this release serves as a qualified notice pursuant to United States Treasury Regulation Section 1.1446-4.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the ownership and management of predominantly industrial, warehouse and logistics properties in North America and Europe.  Granite owns approximately 30 million square feet in over 100 rental income 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 Real Estate Investment Trust

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