Granite REIT engages in the acquisition, development, and management of industrial properties in North America and Europe. Its portfolio consists of various manufacturing, corporate office, warehouse and logistics, and product engineering facilities.
Logistics and distribution warehouses and multipurpose buildings constitute the majority of its assets. Granite REIT is a spin-off of Magna International which still continues to be its major tenant.
Magna accounts for ~60% of Granite’s total revenues. Granite REIT has a diversified yet balanced geographical presence in Canada (26% of revenue), U.S. (31%), Austria (27%), and Europe (15%). It owns 85 investment properties with 33 million square feet of leasable area.