USAA Real Estate Company Announces Oversubscription to US Government Building Fund, LLC

SAN ANTONIO, Aug. 25 /PRNewswire/ -- USAA Real Estate Company announced today the successful conclusion of fundraising for the US Government Building Fund, LLC.  The Fund has raised $546 million in direct and indirect equity commitments from USAA and six institutional investors including domestic and foreign pension funds and insurance companies.

US Government Building Fund, LLC has assembled a geographically diverse portfolio of properties and provides attractive, risk-adjusted returns generated by the acquisition and operation of buildings leased to federal and state governments.  The Fund currently owns assets which total approximately 1 million square feet.  The Fund continues to target Class A core assets across the U.S. with the total size of the Fund expected to exceed $1 billion.

"We are pleased to have both foreign and domestic pension and institutional investors join us in the core US Government Building Fund," says T. Patrick Duncan, Chairman and CEO of USAA Real Estate Company.  "The Fund has been very successful in investing in the most stable, highest quality government leased assets in major markets.  During this recent recession, these assets have proven to hold their value greater than all other office product.  We look forward to the successful completion of the investment period which is expected to be completed within the next 12 - 24 months."    

About USAA Real Estate Company:

USAA Real Estate Company, with approximately $6 billion in owned and managed assets under management, provides fund and separate account investments in office, industrial, retail and multi-family sectors for domestic and foreign pension plans and other institutional investors.  USAA Real Estate Company is a subsidiary of USAA, a leading financial services company with $137.5 billion of assets under management, serving military families since 1922.  For more information, visit www.usrealco.com.

For more information contact
Sharon Ballenger (210) 641-8410

SOURCE USAA Real Estate Company