Granite's Evolution
IPP PORTFOLIO SEGMENTATION BY CATEGORY1
Distribution/E-commerce Properties
78 Properties
41.2M SF (~528K SF/property)
$5.6B Fair Value (~$136/SF)
WALT: 6.3 years
$241.3 M Annualized Revenue(~$5.85/SF): 66%
Magna Concentration: 1%
Concentration in the GTA (rev): 7%
Clear Height: 34'
Average Age: 10 Yrs
Overall Cap Rate: 4.10%
Flex/Office
4 Properties
0.7M SF (~170K SF/property)
$0.2B Fair Value (~$232/SF)
WALT: 6.4 years
$8.9M Annualized Revenue (~$13.01/SF): 2%
Magna Concentration: 36%
Concentration in the GTA (rev): 48%
Clear Height: 26'
Average Age: 22 Yrs
Overall Cap Rate: 5.00%
71%
$7.9B
C
2%
14%
13%
Industrial/Warehouse
33 Properties
5.1M SF (~156K SF/property)
$1.0B Fair Value(~$194/SF)
WALT: 4.0 years
$41.5M Annualized Revenue (~$8.09/SF): 12%
Magna Concentration: 78%
Concentration in the GTA (rev): 56%
Clear Height: 32'
Average Age: 34Yrs
Overall Cap Rate: 4.20%
Special Purpose Properties
7 Properties (2 GTA, 1 Germany, 4 Austria)
8.9M SF (~1,268K SF/property)
$1.1B Fair Value (~$125/SF)
WALT: 4.4 years
$73.6 M Annualized Revenue(~$8.29/SF): 20%
Magna Concentration: 92%
Concentration in the GTA (rev): 21%
Clear Height: 31'
Average Age: 52 Yrs
Overall Cap Rate: 6.81%
Cap Rate in Canada: 4.25%
Cap Rate in Europe: 8.12%
IPP Total Fair Value of $7.9B with an overall WALT of 5.8 years
1 Excludes assets held for sale and reflects adjustments for subsequent events. Refer to the "Subsequent Events" section in Appendix C on page 25.
March 2022
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