{"id":1004023097,"date":"2010-09-15T09:02:40","date_gmt":"2010-09-15T17:02:40","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004023097"},"modified":"2022-12-07T21:06:01","modified_gmt":"2022-12-08T05:06:01","slug":"teacher-retirement-system-of-texas-invests-in-usaas-546m-government-building-fund","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/teacher-retirement-system-of-texas-invests-in-usaas-546m-government-building-fund\/","title":{"rendered":"Teacher Retirement System of Texas Invests in USAA’s $546M Government Building Fund"},"content":{"rendered":"

September 15, 2010
\nBy Barbra Murray, Contributing Editor<\/p>\n

\"\"<\/a><\/p>\n

The closing of Teacher Retirement System of Texas into San Antonio-based USAA Real Estate Company’s US Government Building Fund L.L.C., also known as the GB Fund, is now official. With the system’s participation, the fund’s equity commitments now total $546 million, with the total size expected to reach $1 billion. <\/p>\n

USAA competed fundraising for the GB Fund in August, having culled direct and indirect equity commitments from six institutional investors, in addition to the real estate company’s own investment. The list of contributors consists of pension funds and insurance companies in the U.S. and abroad. <\/p>\n

GB Fund’s goal is to acquire Class A commercial properties leased by federal and state government entities across the country. “There is obviously going to be an emphasis on state capitals and Washington, D.C., where you are going to have a strong government presence,” Sharon G. Ballenger, USAA Managing Director of Marketing, told CPE<\/em>. <\/p>\n

To date, the portfolio encompasses approximately 1 million square feet of space, including the 430,000-square-foot, LEED Platinum-certified Federal Bureau of Investigation Field Office Building in Chicago (pictured), which the fund acquired in January 2009. The group of assets also includes facilities in Richmond, Virginia, and Sacramento, California, and there are more to come. “We are still in acquisition mode,” Ballenger said, “and there are some properties that are currently under contract and should be closing within the next month.”<\/p>\n","protected":false},"excerpt":{"rendered":"

With the system’s participation, the fund’s equity commitments now total $546 million, with the total size expected to reach $1 billion. <\/p>\n","protected":false},"author":936,"featured_media":1004023098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21742],"tags":[],"class_list":["post-1004023097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-latest"],"acf":[],"yoast_head":"\nTeacher Retirement System of Texas Invests in USAA's $546M Government Building Fund - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/teacher-retirement-system-of-texas-invests-in-usaas-546m-government-building-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Teacher Retirement System of Texas Invests in USAA's $546M Government Building Fund\" \/>\n<meta property=\"og:description\" content=\"With the system's participation, the fund's equity commitments now total $546 million, with the total size expected to reach $1 billion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/teacher-retirement-system-of-texas-invests-in-usaas-546m-government-building-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-09-15T17:02:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T05:06:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/09\/USAA-Govt-Bldg.-Fund-FBI-Field-Office-Chicago.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"576\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/teacher-retirement-system-of-texas-invests-in-usaas-546m-government-building-fund\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/teacher-retirement-system-of-texas-invests-in-usaas-546m-government-building-fund\/\",\"name\":\"Teacher Retirement System of Texas Invests in USAA's $546M Government Building Fund - 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