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USAA to sell controlling interest in real estate subsidiary
People - NOVEMBER 14, 2019

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USAA to sell controlling interest in real estate subsidiary

by Released

USAA has agreed to sell a controlling interest in USAA Real Estate (USAARE) to the current management of USAARE and a private investment group. USAA will retain a significant ownership stake in USAARE.

Len O’Donnell, president and CEO of USAARE, will continue to lead the business, and the company will remain the exclusive investment manager for USAA’s real estate portfolio.

“We remain as committed as ever to producing great results for USAA and its members,” said O’Donnell.  “This change enables us to provide an even greater level of service to our clients and partners as we strive to maximize performance for their portfolios. It creates a deeper and richer alignment between our clients, USAA and the management team, from which all will benefit immensely.”

The move continues to simplify USAA’s operating structure enabling it to better serve members through its core businesses of banking, auto, home and life insurance, and retirement products. Th

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