USAA, USAA Real Estate close transaction for new ownership structure

USAA has closed the sale of its controlling interest in USAA Real Estate to the company’s management and a group of investors with deep industry expertise, a commitment to USAA’s values and the potential to help drive the real estate company to an even higher level of performance.

Along with Len O’Donnell, who will continue to lead the day-to-day business as president and CEO of USAARE, James Davidson and Fritz Wolff will become key principals under the new structure. Paxion Capital, founded and managed by Davidson and Wolff, is also a minority investor in the transaction.

Davidson is one of the founders of technology investment firm Silver Lake and served as managing partner from its inception until 2018. He has been a leader in technology investing for more than 30 years, most recently with a focus on the intersection of technology and real estate. Wolff has spent his entire career in the real estate industry and today serves as executive chairman of The Wolff