USAA Real Estate and Square Mile Capital announced the next era of a comprehensive strategic alliance launched in 2012. Effective April 1, USAA Real Estate completed the long-planned acquisition of the remaining interest in the company initially owned by co-founders Craig Solomon and Jeff Citrin. Financial details of the transaction were not disclosed.

Simultaneous with this strategic ownership consolidation, Solomon assumed an ownership interest in the combined USAA Real Estate/Square Mile platform and was appointed to USAA Real Estate’s board of directors.

“From inception, our partnership has been forward thinking, successfully leveraging the immense talent of our teams,” says Solomon. “This strategic ownership consolidation furthers our teams’ alignment, enhances their professional growth opportunities and reinforces our common objective to thoughtfully expand the existing platform offerings to include complementary strategies.”

Solomon will continue leading the business as CEO of Square Mile Capital, while also playing a larger role in various strategic initiatives that span the overall platform. In addition, Square Mile Capital will maintain its current executive leadership team and board of directors. Citrin will remain on the investment committees for Square Mile’s legacy fund vehicles and serve in a senior adviser capacity.

“With the Square Mile/USAA Real Estate strategic partnership entering its 10th year and with the ownership transition we envisioned a decade ago now complete, I have enormous confidence that Craig and Len will continue leading the combined platform with creativity, passion, integrity and energy,” Citrin adds.