RFA Financial is continuing to sell off assets following its creation from the merger of RFA Capital Inc. and Artis REIT in February. The new company is seeking to bolster its financial services and banking operations with capital from these sales.

Since February, RFA Financial said in an announcement, it has divested 34 properties for $535.7 million. This includes completed, previously announced sales and roughly $191 million in new unconditional sales agreements and newly executed conditional contracts across 26 properties.

"Since February 1, 2026, RFA has completed $140.3 million in property sales, and currently has $178.5 million of unconditional contracts as well as $216.9 million of conditional sale agreements in place (including those previously disclosed), representing an aggregate of $535.7 million of disposition activity," RFA said.

RFA has entered into unconditional sale agreements for a 10-property industrial portfolio in Winnipeg, for $76.5 million, and a single-tenant industrial property in Saskatoon for $14 million.

These transactions are expected to close in the third quarter of 2026, the company said. 

New conditional sale agreements

In addition, RFA has entered into conditional sale agreements for one industrial and two retail assets for approximately $100.8 million.

RFA declined to release any more details on the properties which were sold.

"Executing on our disposition strategy at values above IFRS affirms our disciplined approach to value realization and our commitment to maximizing shareholder returns," Ben Rodney, president and CEO of RFA, said in the announcement. "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."

The completed transactions, which were previously announced, include the sale of a portfolio of 12 industrial properties in Winnipeg for $79.8 million, in a deal which closed on June 10.

RFA and Artis

RFA Financial is a financial services platform anchored by a Schedule I bank, offering a diverse suite of financial services. It resulted from the merger RFA Capital and Artis REIT, which finalized earlier this year.

RFA Capital was founded in 1996 as a Canadian-owned real estate investment and asset management firm. It expanded into the residential lending market in 2018 and acquired Street Capital Bank in 2019. In 2024, the company acquired Five Continents Financial Limited, a wealth and investment management company in the Cayman Islands.

On February 1, RFA Capital Inc. and Artis Real Estate Investment Trust combined to form RFA Financial, a unique public company that combines a growing Canadian bank and mortgage finance company with a real estate platform.

When the merger with RFA Capital was announced in September 2025, Winnipeg-based Artis REIT had a portfolio across the office, industrial, multifamily and retail asset classes comprising 92 properties and approximately 10 million square feet of GLA.