Granite Real Estate Investment Trust is a Canadian REIT that owns and manages logistics, warehouse, and industrial properties across North America and Europe. Originally spun off from automotive component manufacturer Magna International in 2003 as MI Developments, the trust rebranded as Granite REIT in 2012 and converted to a REIT structure in 2013. The company is publicly traded on the Toronto Stock Exchange (TSX: GRT.UN) and New York Stock Exchange (NYSE: GRP.U). Granite's portfolio consists of 147 investment properties totaling 62.6 million square feet across six countries: Canada, the United States, Germany, the Netherlands, Austria, and the United Kingdom. The trust maintains a 98% occupancy rate and focuses on institutional-quality assets in distribution and e-commerce markets. Magna International remains the trust's largest tenant, representing 19% of gross leasable area and 27% of annualized rental revenue as of Q1 2025. In January 2026, Granite acquired five income-producing properties in the United States totaling 1.2 million square feet for C$256.1 million, including facilities in Fort Lauderdale and Houston, along with a property in Northampton, United Kingdom for C$36.2 million. The trust simultaneously disposed of three U.S. properties comprising 1.7 million square feet for C$189.5 million. During Q4 2025, Granite executed new leases for 769,000 square feet of previously vacant space, including a 712,800 square foot facility in Avon, Indiana leased to a material handling company. The trust operates with 32% debt-to-EBITDA leverage and maintains $900 million in liquidity.