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Helical to sell £150M portfolio to Blackstone, M7 funds

Helical Plc exchanged contracts to sell The Magnus Portfolio to funds managed by Blackstone Group LP and M7 Real Estate for £150 million.

The 2.27 million-square-foot portfolio comprises 20 logistics assets across the U.K.

The sale price reflects a 14% premium to the portfolio's book value as at September 2017.

Net proceeds will be used to reduce debt and annual finance costs.