Tuesday, September 14, 2010

Teachers Retirement System of Texas Joins USAA Real Estate Co. in the US Government Building Fund, LLC

USAA Real Estate Company is pleased to announce the closing of Teachers Retirement System of Texas ("TRST") into the US Government Building Fund, LLC. This commitment together with USAA and other investments by large foreign and domestic pension plans and insurance companies now brings the total equity commitments for the Fund to $546 million.

US Government Building Fund, LLC has begun to assemble 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 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 very pleased to have TRST as a co-investment partner. Together with TRST and our other partners, we have pooled our resources to generate a very large and significant portfolio which we feel provides excellent risk adjusted returns," states Pat Duncan, Chairman and CEO of real estate operations and investments for USAA Real Estate Company. "This commitment by TRST marks the second investment with USAA in the past few years and we look forward to more opportunities in the future."

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