Spear Street Capital LLC and its affiliates acquired the interests of BlackBerry Limited and its affiliates in the majority of BlackBerry’s real estate holdings in Canada located in Waterloo, Cambridge, Mississauga and Ottawa, Ontario, for approximately $305 million.
The properties acquired comprise 19 office and industrial properties totalling approximately 3-million square feet of space and 6 developable land assets. As part of the transaction, BlackBerry leased back a portion of the space.
Spear Street was represented by Davies Ward Phillips & Vineberg LLP with a team including Greg Howard, Steven Martin, Don Stanbury, Pawel Mielcarek and Daniel Peterson, as well as John Ulmer and Chris Anderson (tax), Sarah Powell (environmental) and Anita Banicevic (competition).
BlackBerry and its affiliates were represented by in-house senior counsel Jason Larton, and by Torys LLP with a team including Graham Rawlinson, David Dell and Nooreen Bhanji, as well as Jerald Wortsman (tax), Michael Fortier (environmental) and Omar Wakil (competition).