The real estate investment firm will buy the real estate for CAD$305 million, or about $278 million. The sale includes 3 million square feet of office space and vacant lands. BlackBerry will leaseback some of the office space included in the deal.
The sale of 80% of the assets is expected to close later in May, with the rest of the deal completing sometime in the third quarter.
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TheStreet Ratings team rates BLACKBERRY LTD as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate BLACKBERRY LTD (BBRY) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: