Granite Real Estate (TSE:GRT.UN) has released an update.
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Granite Real Estate Investment Trust, a Canadian-based REIT known for its logistics, warehouse, and industrial property portfolio, has received court approval for a restructure of its capital. The decision, following unitholder approval, will transition Granite from a stapled unit to a conventional REIT trust unit structure by the end of fiscal 2024. This move is expected to simplify Granite’s capital structure and is subject to certain closing conditions.
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