Spear Street to buy BlackBerry's Canadian real estate assets

Mon May 5, 2014 8:49am EDT
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TORONTO May 5 (Reuters) - BlackBerry Ltd disclosed on Monday that U.S. real estate investment company Spear Street Capital is buying the majority of its real estate holdings in Canada for C$305 million ($278 million).

The embattled technology company announced in March that it had reached an agreement to sell the vast majority of its real estate holdings, as part of a plan outlined earlier this year to strengthen its balance sheet. At the time, BlackBerry did not disclose the name of the buyer or terms of the deal.

($1 = 1.0967 Canadian Dollars) (Reporting by Euan Rocha)