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Artis Real Estate Investment Trust and RFA Capital Holdings Inc., a privately-held Canadian financial services organization, have entered into an agreement pursuant to which the parties will combine and RFA will acquire all of the outstanding units of Artis through a court-approved plan of arrangement.
Founded in 1996 and based in Toronto, RFA is a growing Canadian financial services organization, known for providing innovative financing solutions to the residential and commercial real estate sectors. RFA's primary business is a licensed bank, RFA Bank of Canada, which held over $2.5 billion in assets as of June 30, 2025
Following completion of the transaction, Artis will become a subsidiary of RFA, and RFA will operate as "RFA Financial".
CIBC World Markets Inc. is acting as financial advisor to Artis and has provided fairness opinions to the board of trustees of Artis and Artis special committee in connection with the transaction. Norton Rose Fulbright Canada LLP is acting as legal advisor to Artis. Haywood Securities Inc. has provided an independent fairness opinion to the board of trustees of Artis and Artis special committee in connection with the transaction.
BMO Capital Markets is acting as financial advisor to RFA in connection with the transaction. Borden Ladner Gervais LLP is acting as legal advisor to RFA.
Torys LLP is acting as counsel to the special committee of the board of directors of RFA Bank of Canada, a subsidiary of RFA, in connection with the transaction.
Parties
Company
Artis Real Estate Investment Trust
Company
RFA Capital Holdings Inc.
Bank
RFA Bank of Canada
Deal Type
Merger & AcquisitionIndustry
InfrastructureTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
02 February 2026