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HELICAL SELLS LOGISTICS PORTFOLIO FOR £150M
HELICAL SELLS LOGISTICS PORTFOLIO FOR £150M.
About this update from Helical Plc
[{"type":"text","content":"\n \nRNS Number : 7614G Helical PLC 06 March 2018 \n\n6 March 2018\nHELICAL PLC\n('Helical'/ 'the Company')\nHELICAL SELLS LOGISTICS PORTFOLIO FOR £150M\n \nHelical plc announces that is has exchanged contracts to sell The Magnus Portfolio of 20 logistics assets to real estate funds managed by Blackstone and M7 Real Estate for £150m. The 2.27m sq ft nationwide portfolio, comprising 17 single-let and three multi-let assets, was accumulated through portfolio and individual acquisitions in 2014 and 2015. The price achieved is a 14% premium to September 2017 book value and the net proceeds will be used to reduce debt and annual finance costs. \n \nTom Anderson, Senior Investment Executive at Helical, said: \"This is a significant sale for Helical, bringing to an end our investment in the logistics sector. The price achieved reflects the structural shift towards e-commerce, strength of occupier demand, shortage of supply and rental growth prospects.\"\n \nHelical was represented by Tudor Toone and LSH. Blackstone/M7 was represented by DTRE.\n \nFor further information please contact:\n\n\n\n\nHelical \n\n\n\n\n\n\n\nTom Anderson / Gerald Kaye \n\n\nTel: 020 7629 0113\n\n\n\n\n\n\n\n\n\n\n\n\nFTI Consulting\n\n\n\n\n\n\n\nDido Laurimore/Tom Gough/Richard Gotla\n\n\nTel: 020 3727 1000\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DISLLFSTVAIEIIT\n ","length":3010,"tagName":"div"}]