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Tuesday, May 6, 2014

BlackBerry says much of its Canadian property will be sold this month

BlackBerry says it expects to sell much of its Canadian property and land this month. This follows an announcement in January when it revealed plans to sell the majority of its ‘real estate’ holdings in Canada.

Investment business Spear Street Capital LLC has agreed to purchase the property for CDN$305 million (£165 million), with around 80% of the transaction expected to be completed this month. The sale of the remaining properties is due to be completed by the autumn.

More than 3 million square feet of commercial space is being sold by BlackBerry. It will lease back some of this office space and has committed to maintaining its corporate HQ in the city of Waterloo.

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Author: The Fonecast
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