Granite Real Estate (TSE:GRT.UN) has released an update.
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Granite Real Estate Investment Trust is set to revamp its capital framework by transitioning from a stapled unit structure to a traditional REIT trust unit structure, effective October 1, 2024. The reorganization will see the uncoupling and consolidation of units, with Granite REIT units expected to begin trading separately on the Toronto and New York Stock Exchanges shortly thereafter. This move is aimed at simplifying the company’s structure and is part of Granite’s strategy to advance its portfolio of logistics, warehouse, and industrial properties across North America and Europe.
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