On January 16, 2023, Real Estate Split Corp. announced a $150 million at-the-market equity offering, equally split between Preferred Shares and Class A Shares ($75 million each). The offering is managed by National Bank Financial Inc., with shares trading on the TSX under symbols RS.PR.A and RS. The proceeds will support the company’s diversified real estate portfolio, focusing on e-commerce and cyclical REITs.

Preferred Shares, rated Pfd-3 (high) by DBRS, aim to provide fixed quarterly dividends, while Class A Shares offer monthly distributions and capital appreciation potential. Legal advisors include Fasken Martineau DuMoulin LLP for the issuer and McCarthy Tétrault LLP for the agent. The offering complies with National Instrument 44-102, with no minimum fundraising amount required. Proceeds will enhance income generation and growth strategies.