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Press release from CNW Group

Granite REIT Declares Monthly Distribution

Friday, May 16, 2014

Granite REIT Declares Monthly Distribution

17:06 EDT Friday, May 16, 2014

TORONTO, May 16, 2014 /CNW/ - Granite Real Estate Investment Trust ("Granite") (TSX: GRT.UN / NYSE: GRP.U) announced today that its board of trustees has declared a distribution on Granite's stapled units of CDN$0.183 per stapled unit.  The distribution will be paid by Granite on June 16, 2014 to stapled unitholders of record at the close of trading on May 30, 2014.  The stapled units will begin trading on an ex-dividend basis at the opening of trading on May 28, 2014 on the Toronto Stock Exchange and the New York Stock Exchange.

As it relates to certain unitholders, Granite confirms that no portion of the above distribution constitutes effectively connected income and that this release serves as a qualified notice pursuant to United States Treasury Regulation Section 1.1446-4.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the ownership and management of predominantly industrial, warehouse and logistics properties in North America and Europe. Granite owns approximately 32 million square feet and over 100 properties. Our tenant base currently includes Magna International Inc. and its operating subsidiaries as our largest tenants, together with tenants from other industries.

OTHER INFORMATION

Copies of financial data and other publicly filed documents are available through the internet on Canadian Securities Administrators' Systems for Electronic Document Analysis and Retrieval (SEDAR) which can be accessed at www.sedar.com and on the United States Securities and Exchange Commission's Electronic Data Gathering, Analysis and Retrieval System (EDGAR) which can be accessed at www.sec.gov. For further information, please see our website at www.granitereit.com or contact Tom, Heslip, Chief Executive Officer, at 647-925-7539 or Michael Forsayeth, Chief Financial Officer, 647-925-7600.

SOURCE Granite Real Estate Investment Trust

For further information: For further information, please see our website at www.granitereit.com or contact Tom Heslip, Chief Executive Officer, at 647-925-7539 or Michael Forsayeth, Chief Financial Officer, at 647-925-7600.

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