"This investment reflects our conviction in the sector and the strength of our Secondaries platform in providing flexible capital solutions," said Jamie Sunday, Co-Head of RE Secondaries at Ares.
The newly formed joint venture acquired an 87-building industrial portfolio across eight US markets, with GID retaining asset management responsibilities.
The secondary share sale reportedly values the defense tech company at $90 billion.
The transaction allows the Minneapolis-based firm to retain majority ownership of an 18-building infill industrial portfolio in Atlanta.
The GP staker will support the Australian property investor's growth across distribution, product development, and institutionalization.
Ares Secondaries funds made the follow-on commitment three months after their initial minority equity investment in the data center operator.
The deal will support the UK housebuilder's expansion toward 7,000 homes a year, with Apollo retaining control.
The direct secondary transaction, which values the real estate firm at $3 billion, will reportedly materialize in the coming weeks.
The majority stake was acquired from CanTex Capital in a secondary transaction, alongside a New York-based global investor.
Neuberger's second real estate secondaries fund closed last year with more than $1 billion in commitments, according to SecLink Data.
