Harrison Street is in talks to buy Vicinity Energy, Antin’s US district energy platform, according to two sources familiar with the sale process.

One of the sources described the talks as advanced, while a third source said that Antin is expected to announce a deal in the next few weeks.

Last year, Antin mandated TD Securities and Evercore as sellside financial advisors to lead the sale of the Boston-based platform, which operates 19 district energy systems in 12 US cities. The sale process launched around the beginning of 2026.

Antin declined to comment. Harrison Street, TD Securities, and Evercore did not respond to requests for comment.

Antin reached a deal to buy the company from Veolia in 2019 for an enterprise value of USD 1.25bn. The business was then a unit of Veolia Environment, and it was rebranded as Vicinity post-acquisition in 2020.

Vicinity is owned by Antin’s fourth flagship fund, according to Antin’s website.

In August, Antin announced that it had entered into exclusive talks to sell French energy platform Idex to JP Morgan Asset Management’s Infrastructure Investments Fund (IIF). The deal’s enterprise value is around EUR 3.8bn (USD 4.32bn), this publication reported, roughly 2.7x the valuation when Antin bought the company in 2018.

Headquartered in Chicago, Harrison Street invests in real estate and infrastructure while also offering credit and private wealth platforms. The firm has made several district heating and cooling investments through its Harrison Street Infrastructure Fund, according to Infralogic data, including a district energy public-private partnership (P3) at Appalachian State University in North Carolina and a campus utility system at the Illinois Institute of Technology.