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AUSTIN AND DALLAS — An affiliate of San Antonio-based USAA Real Estate Co. has acquired a significant interest in two of Gables' Class A multifamily and mixed-use properties in Austin and Dallas. USAA Real Estate Co.'s joint venture with Atlanta-based Gables Residential was executed in January 2011 for a portfolio of Gables' existing Class A stabilized communities and select urban infill ground up developments and acquisition cost of more than $400 million for all interests. The joint venture began construction earlier this year on two ground-up developments: the 333-unit Gables Fairmount community in the Uptown submarket in Dallas and the 281-unit Gables Upper Rock community in Rockville, Md.