Granite REIT Declares Monthly Distribution

                  Granite REIT Declares Monthly Distribution

PR Newswire

TORONTO, April 18, 2013

TORONTO, April 18, 2013 /PRNewswire/ - 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$0.175
per stapled unit. The distribution will be paid by Granite on May 15, 2013 to
stapled unitholders of record at the close of trading on April 30, 2013. The
stapled units will begin trading on an ex-dividend basis at the opening of
trading on April 26, 2013.

ABOUT GRANITE

Granite is a Canadian-based REIT engaged in the ownership and management of
predominantly industrial properties in Canada, the United States, Mexico and
Europe. Granite owns approximately 29 million square feet in 106 rental income
properties. Our tenant base currently includes operating subsidiaries of Magna
International Inc. 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, at 647-925-7600.

SOURCE Granite Real Estate Investment Trust

Contact:

Tom Heslip, Chief Executive Officer, at 647-925-7539 or Michael Forsayeth,
Chief Financial Officer, at 647-925-7600.
 
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