Canadian REIT capital offerings down over 45% sequentially in Q1 2026

Editor's note: This article is published quarterly with current data available at that time.

Publicly traded Canadian real estate investment trusts pulled in C$760 million through capital offerings during the first quarter of 2026, a 46.8% drop from the C$1.43 billion collected in the previous quarter and a 71.2% plunge from C$2.64 billion raised in Q1 2025.

Common equity offerings accounted for C$560 million of capital raised, and debt offerings brought in C$200 million.

Office REITs account for over 70% of total capital

Only two property sectors pulled in capital during the first quarter. The office sector led the list, collecting 73.7% of the total capital in the first quarter, amounting to C$560.0 million. The retail sector, which consists of shopping centers and other retail properties, followed, raising C$200.0 million during the same period.

– Set email alerts for future Data Dispatch articles. – Access a spreadsheet listing the offerings completed year to date in 2026 by publicly traded Canadian REITs. – For further capital offerings research, try the Global Real Estate Capital Offerings Activity template.

Allied Properties collects the most capital

Office landlord Allied Properties REIT attracted the most capital in the first quarter, raising a total of C$560.0 million through common equity offerings, as the REIT issued an aggregate of 56,000,000 units at an offering price of C$10 per share. The REIT intends to use the net proceeds of the offerings to repay amounts outstanding under its operating line of credit, which was drawn down to repay the REIT's $600,000,000 aggregate principal amount of 1.726% series H senior unsecured debentures on February 12, 2026.

During the same quarter, shopping center REIT RioCan REIT sold $200 million of 4.308% series AQ senior unsecured debentures due March 11, 2033. The company intends to use the offering's net proceeds to repay existing indebtedness at or prior to maturity, while the remaining balance of the net proceeds, if any, will be used for general business purposes.