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BlackBerry reaches deal to sell most of its real estate in Canada

21
Mar
2014

BlackBerry Ltd said on Friday it has reached an agreement to sell the vast majority of its real estate holdings in Canada, as part of a plan outlined earlier this year aimed at bolstering the technology companys balance sheet. BlackBerry said the terms of the transaction would only be announced after the principal conditions were satisfied, or waived by the parties acquiring the 3 million square feet of space that also includes vacant lands. The company had in January announced that it planned to sell the assets, in partnership with commercial real estate services company CBRE. BlackBerry plans to lease back a portion of the space being sold.

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