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Granite REIT closes US$123M warehouse, logistics portfolio acquisition

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Granite REIT closes US$123M warehouse, logistics portfolio acquisition

Granite REIT closed its acquisition of a three-property, 2.2 million-square-foot U.S. warehouse and logistics portfolio from IDI Gazeley for US$122.8 million.

Granite said earlier that it planned to fund the acquisition with cash on hand and a drawdown of its unsecured credit facility.