27:
153:, which was still controlled by Stronach. In 2012, MI Developments changed its name to Granite Real Estate, reconstituted its board and senior management, moved its headquarters from Aurora to Toronto, Ontario and announced its conversion from a corporate structure to a stapled unit real estate investment trust effective January 2013.
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Canada, the United States and Europe comprising approximately 33 million square feet of leasable area with a reported value of approximately CAD $ 3.2 billion. In terms of revenue, 26% of rental revenue is from Canada, 31% is from the United States, 27% is from
Austria, and 15% is from the rest of Europe.
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In 2017, certain dissident shareholders launched a proxy battle and proposed the addition of three new directors on the company's board. The shareholders were concerned about the company's cash reserve, which they perceived as excessive. The dissidents were successful in their campaign and
Granite’s
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Granite was originally a part of Magna
International and was spun-off as a public company known as MI Developments in 2003. MI Developments was indirectly controlled by Frank Stronach, founder of Magna, through a multiple voting share structure. In 2009, Magna Entertainment Corporation, which was
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Granite’s tenants include Magna
International Inc. (and its operating subsidiaries) as its principal tenant (responsible for approximately 28% of revenue) as well as tenants from various other industries. As at September 30, 2018, Granite owned approximately 85 investment properties located in
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majority owned by MI Developments, went bankrupt. In the preceding years, MI Developments had provided significant debt financing to MEC, often against the wishes of many of its shareholders, who alleged that the transfers benefited Frank
Stronach at the expense of MI Developments.
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board was reconstituted following the annual general meeting in June 2017. In
September 2017, Mike Forsayeth, Granite’s then CEO, announced that he would retire in the ensuing 12 months. In August 2018, Kevan Gorrie was appointed as President and Chief Executive Officer.
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engaged in the acquisition, development, ownership and management of industrial, warehouse and logistics properties in North
America and Europe. It was originally composed principally of former holdings of
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In 2011, Frank
Stronach gave up control of MI Developments. In return, the company transferred the gaming assets of the former Magna Entertainment Group to
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Kelly
Marshall, Chairman of the Board, Kevan Gorrie, President and Chief Executive Officer
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429:"Granite Announces 2018 Third Quarter Results and Increases its Monthly Distribution"
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337:"How the dissidents got their way at Granite REIT after a bruising proxy battle"
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366:"Granite CEO, Michael Forsayeth, to Retire September 30, 2019"
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248:"Magna's rags-to-riches Stronach set to go electric"
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308:"Sandpiper – Vancouver's triumphant proxy warrior"
184:"MI Developments seeks more distance from Magna"
594:Companies listed on the New York Stock Exchange
398:"Granite Announces 2018 Second Quarter Results"
589:Companies listed on the Toronto Stock Exchange
216:"Stronach sells $ 124-million of Magna shares"
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8:
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277:"Granite REIT – Annual Information Form"
604:Real estate investment trusts of Canada
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378:from the original on October 28, 2021
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122:Granite Real Estate Investment Trust
20:Granite Real Estate Investment Trust
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599:Real estate companies of Canada
410:from the original on 2018-08-12
347:from the original on 2018-02-09
318:from the original on 2018-02-09
289:from the original on 2021-10-28
258:from the original on 2018-02-09
226:from the original on 2022-08-05
194:from the original on 2018-05-05
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487:CTS Fahrzeug-Dachsysteme
514:Eurostar Automobilwerk
128:) is a Canadian-based
312:Business in Vancouver
126:MI Developments Inc.
563:Granite Real Estate
473:Magna International
135:Magna International
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220:The Globe and Mail
188:The Globe and Mail
151:The Stronach Group
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16:Canada-based REIT
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542:Belinda Stronach
502:New Venture Gear
492:Magna Powertrain
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343:. 2017-06-16.
341:Financial Post
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382:February 13,
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111:.granitereit
76:Headquarters
34:Company type
519:KSU Gazal-1
509:Magna Steyr
71:Real estate
583:Categories
414:2019-02-13
351:2018-02-08
322:2018-02-08
293:2019-02-13
262:2018-02-08
230:2018-02-08
198:2018-02-08
170:References
161:Properties
124:(formerly
95:Key people
44:Traded as
405:Archived
373:Archived
345:Archived
316:Archived
284:Archived
256:Archived
224:Archived
192:Archived
68:Industry
556:Related
252:Reuters
141:History
104:Website
60::
52::
535:People
497:Getrag
87:Canada
62:GRT.UN
37:Public
432:(PDF)
408:(PDF)
401:(PDF)
376:(PDF)
369:(PDF)
287:(PDF)
280:(PDF)
54:GRP.U
384:2019
130:REIT
113:.com
50:NYSE
109:www
58:TSX
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
