USAA Real Estate was founded in 1982 as the real estate investment arm of USAA. With more than USD2bn in assets under management, the company provides co-investment asset management services to US pension funds, as well as to foreign and domestic institutional investors. USAA Real Estate also provides capital to partners for development. The portfolio consists of office, medical office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies.