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DALLAS AND HOUSTON — An affiliate of San Antonio-based USAA Real Estate Co. has entered into a joint venture agreement with Gables Residential to develop Class A multifamily properties at urban infill sites as well as purchase an interest in several of Gables' best-in-class stabilized properties. The development and acquisitions have the capacity to equal more than $400 million of Class A multifamily assets. Two of the first three stabilized properties under development include Gables Fairmount, which will comprise 333 apartments in Dallas' Uptown neighborhood, and Gables Bering, which will consist of 306 apartments and 11,200 square feet of retail space in Houston.