To install click the Add extension button. That's it.

The source code for the WIKI 2 extension is being checked by specialists of the Mozilla Foundation, Google, and Apple. You could also do it yourself at any point in time.

Kelly Slayton
Congratulations on this excellent venture… what a great idea!
Alexander Grigorievskiy
I use WIKI 2 every day and almost forgot how the original Wikipedia looks like.
Live Statistics
English Articles
Improved in 24 Hours
Added in 24 Hours
What we do. Every page goes through several hundred of perfecting techniques; in live mode. Quite the same Wikipedia. Just better.

Granite Real Estate

From Wikipedia, the free encyclopedia

Granite Real Estate Investment Trust
Traded asNYSEGRP.U
IndustryReal estate
Key people
Kelly Marshall, Chairman of the Board, Kevan Gorrie, President and Chief Executive Officer

Granite Real Estate Investment Trust (formerly MI Developments Inc.) is a Canadian-based REIT 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 Magna International.

YouTube Encyclopedic

  • 1/1
    11 594
  • ✪ 1A Boys Basketball Championship: Georgiana vs. Sacred Heart



Granite was originally a part of Magna International and was spun-off as a public company known as MI Developments in 2003.[1] MI Developments was indirectly controlled by Frank Stronach, founder of Magna, through a multiple voting share structure.[2] In 2009, Magna Entertainment Corporation, which was majority owned by MI Developments, went bankrupt.[2] 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.

In 2011, Frank Stronach gave up control of MI Developments.[3] In return, the company transferred the gaming assets of the former Magna Entertainment Group to The Stronach Group, which was still controlled by Stronach.[3] 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.[4]

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 board was reconstituted following the annual general meeting in June 2017.[5][6] In September 2017, Mike Forsayeth, Granite’s then CEO, announced that he would retire in the ensuing 12 months. [7] In August 2018, Kevan Gorrie was appointed as President and Chief Executive Officer. [8]


Granite’s tenants include Magna International Inc. (and its operating subsidiaries) as its principal tenant (responsible for approximately 60% of revenue) as well as tenants from various other industries. As at September 30, 2018, Granite owned approximately 85 investment properties located in 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.[9] 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.


  1. ^ "MI Developments seeks more distance from Magna". The Globe and Mail. 2012-05-17. Retrieved 2018-02-08.
  2. ^ a b "Stronach sells $124-million of Magna shares". The Globe and Mail. 2010-12-20. Retrieved 2018-02-08.
  3. ^ a b "Magna's rags-to-riches Stronach set to go electric". Reuters. 2011-04-01. Retrieved 2018-02-08.
  4. ^ "Granite REIT – Annual Information Form" (PDF).
  5. ^ "Sandpiper – Vancouver's triumphant proxy warrior". Business in Vancouver. Retrieved 2018-02-08.
  6. ^ "How the dissidents got their way at Granite REIT after a bruising proxy battle". Financial Post. 2017-06-16. Retrieved 2018-02-08.
  7. ^ "Granite CEO, Michael Forsayeth, to Retire September 30, 2019" (PDF).
  8. ^ "Granite Announces 2018 Second Quarter Results" (PDF).
  9. ^ "Granite Announces 2018 Third Quarter Results and Increases its Monthly Distribution" (PDF).
This page was last edited on 14 October 2020, at 23:51
Basis of this page is in Wikipedia. Text is available under the CC BY-SA 3.0 Unported License. Non-text media are available under their specified licenses. Wikipedia® is a registered trademark of the Wikimedia Foundation, Inc. WIKI 2 is an independent company and has no affiliation with Wikimedia Foundation.