USAA Scoops Up Stake In Real Estate Investor Square Mile

Law360, New York (March 12, 2012, 7:34 PM EDT) -- USAA Real Estate Co. has acquired an undisclosed stake in real estate investment firm Square Mile Capital Management LLC in an effort to diversify its portfolio and branch out into distressed and high-yield debt, the co-investment and development firm said Monday.

USAA said it had made the investment as part of a strategy to expand the acquisition and development services it provides to pension funds and institutional investors to include opportunistic investments in high-yield debt, recapitalizations and undervalued equity situations.

Square Mile has invested more than...
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