Texas Teacher Retirement System, Austin, and USAA Real Estate formed a $233 million co-investment fund targeting core and core-plus office, retail and multifamily properties, confirmed Howard Goldman, director of communications for the $88 billion retirement system.
The system is investing $200 million and USAA, $33 million, said Susan Wallace, an executive managing director of the private equity group at USAA Real Estate. The fund also could potentially use leverage of about $70 million to buy properties, she said.
