USAA Real Estate Company Receives “Best of Best” Recognition
San Antonio, TX – September 28, 2011 – (RealEstateRama) — USAA Real Estate Company received high rankings as one of the largest developers in the nation by National Real Estate Investor’s 2011 Best of the Best, an annual survey that tracks trends among the commercial real estate companies in the nation.
USAA was recognized as the second largest industrial developer in the nation with 6.5 million square feet of industrial build to suits under construction at the close of 2010. This ranking marks a significant increase from sixth place in 2009 and number 22 in 2008. USAA Real Estate Company has emerged as one of the country’s premier development and capital sources to developers throughout the country.
Of 25 Office Developers recognized, USAA moved up to the number 10 position from 13th a year ago. Office projects include some of the highest quality projects in their respective markets such as the 430,000 square foot FBI Field Office in Chicago, IL, the 439,000 square foot University of Phoenix headquarters in Phoenix, AZ and the 358,000 square foot Nuclear Regulatory Commission currently under construction in Rockville, MD.
“We are honored to be recognized as a leader in the industry,” says USAA Chairman and CEO Pat Duncan, who attributes the company’s consistent performance to the quality of our people and our one-stop shop for developer capital that combines both the debt and equity components of a transaction.
National Real Estate Investor conducts independent research pertaining to office, industrial, retail, hotel and multi-family markets. The Best of the Best survey, in its 11th year, encompasses these sectors in addition to brokerage firms, property managers and other commercial real estate services.
USAA Real Estate Company manages a multi-billion dollar portfolio including recent acquisitions of $3 billion and development assets of $2 billion. The company provides co-investment asset management services to U.S. pension funds as well as foreign and domestic institutional investors. USAA Real Estate Company also provides capital to partners for development. The portfolio consists of office, industrial, multi-family, retail and hotel properties as well as investments in real estate operating companies.
