The majority stake was acquired from CanTex Capital in a secondary transaction, alongside a New York-based global investor.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
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 deal will support the UK housebuilder's expansion toward 7,000 homes a year, with Apollo retaining control.
The transaction included $140 million in equity led by Partners group, while Corebridge Financial provided $203 million in senior financing.
Goldman Sachs Alternatives co-led the continuation fund for North American digital infrastructure provider TerraPact Holdings.
The multi-asset vehicle is seeded with eight self-storage assets and includes commitments to acquire additional properties in supply-constrained markets.
"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 communications and technology-focused investment firm is set to be acquired by Digital Realty, a NYSE-listed data center REIT, for $485 million.
Neuberger's second real estate secondaries fund closed last year with more than $1 billion in commitments, according to SecLink Data.
