BlackBerry to sell its Canadian real estate for $305 million

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BlackBerry announced today that it has entered into an agreement with Spear Street Capital to sell its Canadian real estate holdings, more than 3 million square feet of space and surrounding land, for $305 million CDN.

The deal is expected to close, in part, this month, with 80% of the holdings being fulfilled by the end of May. The remaining 20% will be completed by the end of the third quarter.

BlackBerry will lease back portions of the sold properties for its own uses “to have a strong presence in Canada with Waterloo continuing as the home of its global headquarters.”