{"id":1004039792,"date":"2012-03-12T06:51:48","date_gmt":"2012-03-12T14:51:48","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004037253"},"modified":"2022-12-08T09:32:13","modified_gmt":"2022-12-08T17:32:13","slug":"usaa-real-estate-acquires-interest-in-square-mile-capital-management","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/usaa-real-estate-acquires-interest-in-square-mile-capital-management\/","title":{"rendered":"USAA Real Estate Acquires Interest in Square Mile Capital Management"},"content":{"rendered":"<p><strong>By Barbra Murray, Contributing Editor<\/strong><\/p>\n<p>USAA Real Estate Co. and Square Mile Capital Management L.L.C. now have something quite important in common: each other. USAA recently made a strategic investment in Square Mile.<\/p>\n<p>Together, the two companies cover quite a bit of ground. Square Mile, a private investment firm that made its debut in 2006, has deftly handled approximately $2 billion of equity in real estate and real estate-related investments, focusing on distressed and high-yield debt, as well as recapitalizations and undervalued assets. USAA, which has a clientele consisting of U.S. pension funds and foreign and domestic institutional investors, oversees a portfolio valued in the billions and spanning a variety of real estate sectors.<\/p>\n<p>The joining of forces was USAA&#8217;s idea. The company initiated talks with Square Mile regarding the possibility of establishing a partnership that would allow USAA to offer a broader range of investment options for its clients and pave the road to long-term growth for Square Mile. &#8220;While we have made great strides as a firm in recent years, our platform&#8217;s alliance with USAA Real Estate Company will help us to open new doors and provide us with even more firepower in the marketplace, while enabling Square Mile to remain nimble and decisive in our decision-making,&#8221; Jeffrey B. Citrin, co-founder and managing principal with Square Mile, noted.<\/p>\n<p>Citrin and co-founder Craig H. Solomon&#8217;s roles as managers of Square Mile&#8217;s day-to-day operations will not change, and the two will also maintain a majority interest in the company they created. It&#8217;s a win-win situation for Square Mile and USAA. &#8220;Both organizations have strong real estate platforms that now can complement each other,&#8221; Citrin added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>USAA Real Estate Co. and Square Mile Capital Management L.L.C. now have something quite important in common &#8212; each other &#8212; with USAA&#8217;s strategic investment in Square Mile.<\/p>\n","protected":false},"author":969,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21742],"tags":[],"class_list":["post-1004039792","post","type-post","status-publish","format-standard","hentry","category-corporate-real-estate","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>USAA Real Estate Acquires Interest in Square Mile Capital Management - 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\/usaa-real-estate-acquires-interest-in-square-mile-capital-management\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USAA Real Estate Acquires Interest in Square Mile Capital Management\" \/>\n<meta property=\"og:description\" content=\"USAA Real Estate Co. and Square Mile Capital Management L.L.C. now have something quite important in common -- each other -- with USAA&#039;s strategic investment in Square Mile.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/usaa-real-estate-acquires-interest-in-square-mile-capital-management\/\" \/>\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=\"2012-03-12T14:51:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T17:32:13+00:00\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\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\/usaa-real-estate-acquires-interest-in-square-mile-capital-management\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/usaa-real-estate-acquires-interest-in-square-mile-capital-management\/\",\"name\":\"USAA Real Estate Acquires Interest in Square Mile Capital Management - 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