NEWS
 
Blackberry to sell off Canadian property
The Waterloo-based smart phone maker plans to dump 3 million square feet of property...
0 0

BlackBerry is selling the majority of its commercial real estate holdings in Canada, but the struggling smartphone maker refused Tuesday to say how much it expects to make from the deals.

Waterloo, Ont.,-based BlackBerry said it plans to use a combination vacant sales and sale-leaseback arrangements in divesting the properties.

The company 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.  

``BlackBerry will not comment on the potential value of a sale and will disclose further information as required in connection with any definitive sale transaction,'' it said in a release after markets closed.

The company is working with CBRE, a commercial real estate company that provides financing and management services in conducting the sales.

``BlackBerry remains committed to being headquartered in Waterloo and having a strong presence in Canada along with other global hubs,'' CEO and executive chairman John Chen said.

``This initiative will further enhance BlackBerry's financial flexibility, and will provide additional resources to support our operations as our business continues to evolve.''

Leave a comment:

· Subscribe to comments
Log in and be the first to comment!

@NEWSTALK1010

Facebook

DON'T MISS

IN-DEPTH AND INTERACTIVE

TICKETS ARE NOW SOLD OUT!

Aaron Waxman & Associates present the 4th annual IN-DEPTH AND INTERACTIVE -- May 19 at the Liberty Grand

NEWS ALERTS

STAY CONNECTED

Sign up for out Breaking News Alerts and receive up-to-the-minute coverage of the top stories of the day

 
0 0

BlackBerry is selling the majority of its commercial real estate holdings in Canada, but the struggling smartphone maker refused Tuesday to say how much it expects to make from the deals.

Waterloo, Ont.,-based BlackBerry said it plans to use a combination vacant sales and sale-leaseback arrangements in divesting the properties.

The company 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.  

``BlackBerry will not comment on the potential value of a sale and will disclose further information as required in connection with any definitive sale transaction,'' it said in a release after markets closed.

The company is working with CBRE, a commercial real estate company that provides financing and management services in conducting the sales.

``BlackBerry remains committed to being headquartered in Waterloo and having a strong presence in Canada along with other global hubs,'' CEO and executive chairman John Chen said.

``This initiative will further enhance BlackBerry's financial flexibility, and will provide additional resources to support our operations as our business continues to evolve.''

Leave a comment:

· Subscribe to comments
Log in and be the first to comment!

Top stories

Hundreds of youths attack officers, throwing bottles and bricks...

Poll

Do you think the Raptors need to win Game 3 tonight to survive the first round?

Voting is restricted to one vote every 24 hours 24 hour(s) VoteResults