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BlackBerry to Sell Majority of Canadian Real Estate

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Jan 21, 2014, 6:17 PM   by Eric M. Zeman

BlackBerry today said that it plans sell off nearly all of its real estate holdings in Canada. The company will, with its partner CBRE Limited, accomplish the divestiture through a combination of sale-leasebacks and vacant asset sales. According to BlackBerry, the sale covers more than three million square feet of office space. BlackBerry did not say how much money it hopes to make or save from the real estate sale. The move is meant to help BlackBerry shore up its balance sheet. Nokia took similar measures in 2013.


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