USAA Real Estate Company and Gables Residential Enter Large National Development and Acquisition Venture

WASHINGTON, D.C. – January 14, 2011 – (RealEstateRama) — On January 12th, an affiliate of USAA Real Estate Company executed a Joint Venture Agreement with Gables Residential to develop Class-A multi-family properties at select urban infill sites as well as purchase an interest in several of Gables’ best-in-class stabilized properties. The development and acquisitions amount to over $400 million of Class-A multi-family assets