RFA Financial has sold, or agreed to sell, 34 properties with a combined value of $535.7 million since February 1, said the company in an activity update.
That date coincides with the completion of the merger between RFA Capital Holdings and now-defunct Artis REIT through a reverse takeover comprising a take-private transaction. The merged company rebranded as RFA Financial, which is in the process of divesting former Artis holdings as part of an effort to become a pure-play financial-services firm.
RFA said the total $535.7-million total includes $140.3 million in completed property sales, $178.5 million in unconditional sale agreements and $216.9 million in conditional sale agreements.
Most recently, RFA completed the sale of a 12-property industrial portfolio in Winnipeg for $79.8 million, which closed June 10. The company also entered into unconditional agreements to sell a 10-property industrial portfolio in Winnipeg for $76.5 million and a single-tenant industrial property in Saskatoon for $14 million. Those transactions are expected to close in the third quarter, subject to customary conditions. In addition, RFA signed conditional agreements for the sale of one industrial property and two retail assets valued at approximately $100.8 million. The properties’ locations were not disclosed.
RFA said the sale prices for all closed and unconditional transactions completed so far this year are 4% above the IFRS values reported as of June 30, 2025.
“Executing on our disposition strategy at values above IFRS affirms our disciplined approach to value realization and our commitment to maximizing shareholder returns,” said Ben Rodney, president and CEO of RFA. “We are focused on sustaining this momentum as we unlock embedded value across the portfolio and redeploy capital into higher-return opportunities that support the continued growth and scalability of our financial services platform.”
Toronto-based RFA is a financial-services platform anchored by a Schedule I bank and currently offers a range of financial services alongside a real estate platform.
Founded in 2004, Artis was a large player in the Western Canadian industrial real estate scene and an active office and industrial investor across Canada and in the U.S.
Pictured: Calgary office building.
Photo: Artis REIT
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