Canadian Manufacturing

BlackBerry selling majority of Canadian real estate holdings

Plans to use combination of vacant sales, sale-leaseback arrangements in divesting properties

January 22, 2014  by The Canadian Press

WATERLOO, Ont.—BlackBerry Ltd. says it intends to sell the majority of its commercial real estate holdings in Canada.

The Waterloo, Ont.-based smartphone maker plans to use a combination of vacant sales and sale-leaseback arrangements in divesting the properties.

BlackBerry did not put a value on the real estate holdings but said those being offered for sale comprise more than three million square feet of space.

The company says the transaction are being handled by CBRE Ltd., a commercial real estate company that provides financing and management services in conducting the sales.