The communications and technology-focused investment firm is set to be acquired by Digital Realty, a NYSE-listed data center REIT, for $485 million.
The newly formed joint venture acquired an 87-building industrial portfolio across eight US markets, with GID retaining asset management responsibilities.
The transaction allows the Minneapolis-based firm to retain majority ownership of an 18-building infill industrial portfolio in Atlanta.
The CV would reportedly acquire ByteDance and Ant Group stakes at a roughly 30% discount to their combined $1.5 billion NAV.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
The continuation fund will reportedly have its largest exposure to TikTok's parent, ByteDance, alongside Ant Group.
The oversubscribed vehicle for the mass transit operator was backed by Australian superannuation funds and international institutional investors.
The firm has reportedly engaged with prospective buyers to facilitate liquidity for investors in a US-based open-ended fund managed by Blackstone Property Partners.
The alternatives manager also gave updates on the fundraising status of several other secondaries strategies spanning private equity, GP-leds, venture capital, and infrastructure.
Goldman Sachs Alternatives co-led the continuation fund for North American digital infrastructure provider TerraPact Holdings.
