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

SAN ANTONIO, Sept. 14 /PRNewswire/ -- USAA Real Estate Company is pleased to announce the closing of Teacher Retirement System of Texas ("TRS") 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 TRS as a co-investment partner.  Together with TRS 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 TRS marks the second investment with USAA in the past few years and we look forward to more opportunities in the future."

About Teacher Retirement System of Texas:

TRS delivers retirement and related benefits authorized by the Texas Legislature and manages an $92.3 billion trust fund established to finance member benefits.  Nearly 1.3 million public education and higher education employees and retirees participate in the system.  For more information, visit www.trs.state.tx.us.

About USAA Real Estate Company:

USAA Real Estate Company, with approximately $6 billion of 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 over $137.5 billion of assets under management, serving military families since 1922.  For more information, visit www.usrealco.com.

SOURCE USAA Real Estate Company

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