January 17, 2018 / 11:48 PM / a year ago

BRIEF-Granite REIT Signs Agreements To Sell Ten Properties For About $400 Mln

Jan 17 (Reuters) - Granite Real Estate Investment Trust :

* GRANITE REIT UNLOCKS VALUE WITH SALE OF $400 MILLION OF PROPERTIES INCLUDING THREE SPECIAL PURPOSE PROPERTIES

* GRANITE REAL ESTATE INVESTMENT TRUST - ENTERS INTO AGREEMENTS FOR SALE OF TEN PROPERTIES FOR A TOTAL SALES PRICE OF ABOUT $400 MILLION

* GRANITE REAL ESTATE INVESTMENT TRUST - TAX EFFICIENT TRANSACTIONS ARE ACCRETIVE TO GRANITE’S NET ASSET VALUE BY ABOUT $1.50 PER STAPLED UNIT

* GRANITE REAL ESTATE INVESTMENT TRUST - POST COMPLETION OF TRANSACTIONS, GRANITE’S ESTIMATED NET DEBT-TO-GROSS BOOK VALUE WILL BE ABOUT 10% Source text for Eikon: Further company coverage:

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