The sale will be at a premium to NAV and marks the GP stakes specialist's tenth realization since 2024.
The transaction expands BlueFive's Sharia-compliant asset management presence into Southeast Asia.
Harrison Street's process sold 91% of shares offered, with 41% transacting at a 15% discount to NAV versus the 20% initially requested.
The transaction, expected to close in Q4, will support the growth of AREP's investment and development platform, including its vertically integrated data center strategy.
The deal marks Reality Growth's second investment since launching earlier this year as a dedicated GP stakes platform.
The GP stakes specialists sold their minority stakes to DigitalBridge as part of its $1.05 billion acquisition of the infrastructure investor.
The direct secondary transaction, which values the real estate firm at $3 billion, will reportedly materialize in the coming weeks.
The minority stake, acquired from Brookfield's private equity business, values the Australian alts manager at $2.1 billion.
Founded in 2008, Prime is a private commercial real estate credit platform with over $15 billion in AUM.
The non-traded fund currently has more than $2 billion in outstanding redemption requests.
