On September 23, 2026, Real Estate Split Corp. (TSX: RS and RS.PR.A) (the “Fund”) completed an overnight public offering (the “Offering”) of 972,500 class A shares and 1,202,075 preferred shares for total gross proceeds of approximately $21.5 million.
The objectives of the Fund are to provide holders of the class A shares with non-cumulative monthly cash distributions and the opportunity for capital appreciation through exposure to the Fund’s investment portfolio and holders of the preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price. This will be achieved through a diversified, actively managed, high conviction portfolio comprised of dividend-paying securities of issuers operating in the real estate or related sectors, including real estate investment trusts, that are engaged in e-commerce, data infrastructure as well as the multi-family, retail, office and healthcare sectors.
The syndicate of agents for the Offering was co-led by CIBC Capital Markets, RBC Capital Markets and Scotiabank, and included National Bank Financial Inc., Canaccord Genuity Corp., Hampton Securities Limited, BMO Nesbitt Burns Inc., CI Investment Services Inc., iA Private Wealth Inc., Raymond James Ltd., Manulife Wealth Inc., Ventum Financial Corp., Wellington-Altus Private Wealth Inc., Desjardins Securities Inc. and Research Capital Corporation.
Middlefield Limited, the manager of the Fund, was advised by Fasken with a team that consisted of Stephen Erlichman, Daniel Fuke, George Soules and Terence Bernard (Securities, Investment Products and Wealth Management); and Andrew Haikal and Katerina Ignatova (Tax).
Jurisdiction
- Canada
