SAN ANTONIO and NEW YORK — USAA Real Estate, having acquired the balance of Square Mile Capital in 2021, will consummate a decade of partnership between the two companies with today’s announcement of the final integration of the two investment management platforms under a new corporate brand name, Affinius Capital®. Under the Affinius banner, the company will continue to provide strategic equity and debt capital, leveraging the accelerating demand for technology-driven real estate assets, structured credit, and flexible deal structures, while meeting the critical need for rental housing solutions.
“You may not yet recognize our new name, but you certainly know our firms and our people,” said Len O’Donnell, who will remain as CEO and Chairman. “We are the same committed partners, advisors, investors, and stewards we have always been. We will move forward with the same people, the same culture, and the same investment philosophy and, as we turn toward the future, we pay homage to our heritage and carry forward the sense of purpose and service instilled in us by USAA, as we continue to serve our diversified client base.”
Affinius Capital will be led by the same dedicated and diverse team of senior leaders, with the same disciplined approach to investing and alignment of interests that have defined USAA Real Estate and Square Mile Capital’s record of success.
Craig Solomon, the former CEO of Square Mile, will now serve as CIO and Vice Chairman of the combined company. Mr. Solomon said, “This is the concluding phase of a deliberate and comprehensive plan to create one firm positioned to serve our clients throughout the capital structure through more efficient use of our resources while expanding our execution capabilities.”
USAA Real Estate was a wholly owned affiliate of USAA from 1982 to until April 1, 2020, at which time Mr. O’Donnell and a group of investors acquired a controlling interest in the company. Mr. Solomon joined Mr. O’Donnell as a partner in the business in 2021 when the company acquired Mr. Solomon’s remaining interest in Square Mile.
Mr. O’Donnell commented “It has been our honor and privilege to serve USAA and its members for the past 40 years and I am pleased that we will continue to do so. Our name change brings with it no change in our relationship with USAA, which remains a client, an investment partner, and a partner in Affinius Capital.” O’Donnell adds, “Affinius Capital exists to serve all of our clients, putting their interests before our own, driven by partnership, transparency, and innovation.”
“For 40 years USAA Real Estate has acted as a trusted steward of investors’ capital. For the last 10 years, the seamless partnership with Square Mile further strengthened the firms’ combined investment strategies, leading to a diversified platform across the risk spectrum,” Mr. Solomon added.
Affinius Capital will continue to prioritize and align with its clients and their interests, pursuing risk-adjusted returns that generate positive and measurable impact to society, while maintaining its multifaceted focus on creative and dynamic solutions using technological advancements in predictive analytics, digital automation, and artificial intelligence.
The company will continue to have home offices in San Antonio and New York as well as regional experts operating in Amsterdam, Atlanta, Chicago, Dallas, Los Angeles, Phoenix, San Francisco, Seoul and Washington, D.C.
About Affinius Capital
Along with its affiliate companies, Affinius Capital invests across the risk spectrum for a global client base, managing over $35 billion in net assets under management within a diversified portfolio across North America and Europe. Affinius Capital provides strategic equity and debt capital, including to capitalize on the accelerating demand for technology-driven real estate assets, to meet the critical need for housing solutions, and for other market and capital structure opportunities exhibiting compelling risk-return characteristics.