DAVID ROBINSON-LED PARTNERSHIP FUND TO DEVELOP REAL ESTATE, COMMUNITIES

SAN ANTONIO — USAA Real Estate Co. and Admiral Capital Group have formed the Admiral Capital Real Estate Fund to pursue commercial real estate opportunities nationally. Led by David Robinson, the legendary San Antonio Spurs center who teamed with former Wake Forest basketball great Tim Duncan to win multiple NBA championships, Admiral Capital Group brings its real estate and hospitality investment expertise, as well as a strong reputation for social initiatives, to the partnership. Alongside other, third-party investors, USAA Real Estate Co. has committed up to $50 million to the partnership and will provide resources from its extensive real estate platform to support the fund's investment strategy, including identifying acquisitions, due diligence and asset management. “In my basketball career, I surrounded myself with the best team possible so we could win championships and give back to our community, and this partnership is no different,” says Robinson, whose Hall of Fame basketball career includes two NBA championships, an NBA MVP trophy and two Olympic Gold Medals. The fund will pursue opportunities in major U.S. markets with a target transaction size of $25 million to $100 million. It will also embrace Robinson's mission to invest in community revitalization and in assets that foster positive social impact. The 1987 U.S Naval Academy graduate and renowned philanthropist, whose name is tied to the NBA's community service award, has personally contributed more than $10 million to the San Antonio community, primarily to support The Carver Academy, which he founded in 2001.