Granite REIT Holdings Limited Partnership (Granite LP), a subsidiary of Granite Real Estate Investment Trust and Granite REIT Inc. (collectively, Granite), completed an offering of $500 million aggregate principal amount of Series 4 senior unsecured debentures due 2027.
A syndicate of agents, which was co-led by BMO Capital Markets and Scotia Capital and which included RBC Dominion Securities Inc., TD Securities Inc., CIBC World Markets Inc. and Industrial Alliance Securities Inc, sold the 2027 debentures by way of a prospectus supplement.
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 over 90 investment properties representing approximately 40.3-million square feet of leasable area.
Lawrence Clarfield represented Granite LP as its senior vice-president, legal counsel.
Davies Ward Phillips & Vineberg LLP represented Granite LP with respect to tax matters, with a team that included Neal Armstrong and Sharon Ford (Canadian tax) and Heath Martin (U.S. tax).Osler, Hoskin & Harcourt LLP represented the agents with a team that included Desmond Lee, Sandra Malcolm and Deron Fung (corporate/securities) and Tim Hughes (tax).