RFA Financial Inc. (“RFA” or the “Company”) (TSX: RFA) today announced a 20-year lease agreement with IG Wealth Management (“IG”) at 360 Main Street and 300 Main Street in the heart of downtown Winnipeg.
IG, a Canadian leader in delivering integrated financial planning, has had a presence in the city for almost 100 years. The firm, a member of IGM Financial Inc., a subsidiary of the Power Corporation of Canada, provides an institutional-quality tenancy that enhances the long-term strength and stability of RFA’s office portfolio.
The landmark agreement is scheduled to commence in 2028 and totals more than 120,000 square feet over two distinct leases. The first encompasses six full floors at 360 Main Street totalling just under 115,000 square feet, and the second adds 6,300 square feet at 300 Main Street, a mixed-use residential tower and the tallest building in Manitoba.
“We are pleased to welcome IG to our interconnected Main Street properties as they establish 360 and 300 Main as their new national headquarters,” said Kim Riley, President of RFA Asset Management. “This transaction highlights the advantages of our integrated downtown portfolio and our ability to deliver scalable, well-connected solutions for leading organizations. As demand continues to grow for high-quality space that supports evolving workplace needs, our assets are uniquely positioned to meet that demand.”
This transaction underscores RFA’s proven ability to execute its asset management and leasing strategy, driving occupancy growth and enhancing the long-term value of its properties. The lease increases committed occupancy from 79.6%(1) to approximately 95.1% and is expected to increase net operating income by approximately 59.7%(1) in RFA’s core Winnipeg office portfolio. These results demonstrate the Company’s ability to unlock embedded value, improve asset performance, and deliver long-term value creation across its portfolio.
“This landmark transaction, the largest private-sector relocation to an existing Class A downtown Winnipeg office building in recent history, highlights the exceptional efforts of our leasing team and their success in delivering a transformative leasing outcome for the property and for Winnipeg’s downtown,” added Kim.
The addition of IG to 360 and 300 Main is expected to generate meaningful economic benefits for the surrounding community, bringing over 1,000 employees to the city’s core, resulting in increased foot traffic, job creation, and demand for nearby retail and service businesses.
“Reopening Portage and Main to pedestrians was all about creating a downtown where people and businesses want to be,” said Scott Gillingham, Mayor of Winnipeg. “The city and property owners, like RFA, have put huge investments into this corner recently, and IG choosing to recommit to downtown by bringing hundreds of employees right to 360 Main shows those moves are delivering results. The financial heart of our city is beating strong.”
Adjusted to reflect the expiration of an existing lease within the premises to be occupied by IG.
The campus-style property is directly connected to the city’s underground retail concourse and skywalk system, enhancing accessibility and providing year-round connectivity to surrounding offices, shopping, transit, and other amenities. As part of the long-term lease agreement, the tenant has secured exclusive signage rights at the top of 300 Main Street, one of the most prominent branding opportunities in the city, along with rooftop signage at 330 Main, offering a bird’s-eye view from surrounding towers.
“This move marks an exciting new chapter for IG Wealth Management and reflects our confidence in Winnipeg’s future,” said Damon Murchison, President and CEO, IGM Financial and IG Wealth Management. “As our home for nearly a century, Winnipeg has played a vital role in our success, and we are proud to deepen our investment in both the city and its downtown core. Our new headquarters will provide employees with a modern, flexible, and collaborative workplace designed to support innovation, well-being, and connection.”
RFA owns multiple properties in the downtown core, along with parking facilities supporting these assets. Together, these properties form an integrated platform that supports tenant demand, enhances operating synergies, and contributes to a vibrant and active downtown environment.
About RFA Financial Inc.
RFA is a Canadian financial services platform anchored by a Schedule I bank. RFA offers a diversified suite of financial services to support Canadians at every stage of their financial journey, combined with the stability of a proven real estate platform. RFA common shares trade on the Toronto Stock Exchange under the symbol RFA, while Series E and Series I preferred shares trade under the symbols RFA.PR.E and RFA.PR.I, respectively. The common shares also trade in the United States on the OTCQX Best Market under the symbol RFAFF.
For more information, please visit rfafinancial.ca.
Source : RFA Financial Inc.
