|[February 28, 2013]
Duncan to Retire, O'Donnell Named CEO of USAA Real Estate Company
SAN ANTONIO --(Business Wire)--
Pat Duncan, CEO of USAA Real Estate Co. ("RealCo"), will retire from the
day-to-day activities of the company effective May 1, 2013. Mr. Duncan
will remain on several entity-related company boards, including the
RealCo board as executive vice chairman. He will also remain on the
boards of various RealCo subsidiaries and affiliates.
Len O'Donnell will succeed Pat Duncan as CEO of RealCo. For the past two
years, Mr. O'Donnell has served as RealCo's president and chief
operating officer, overseeing all operations of the company including
acquisitions, global investing, capital markets and portfolio management.
"Pat's record, especially successfully leading RealCo during the recent
economic downturn, is outstanding," says Joe Robles, USAA president and
CEO. "Thanks to Pat's leadership, USAA Real Estate Company has grown to
be a major industrial developer that is highly respected, and Len has
proven himself well-qualified to build on that tradition."
Before he joined USAA, Mr. O'Donnell was a RealCo development partner as
he served as principal and chief investment officer for Crimson Real
Estate Fund, which specialized invalue-added acquisitions and
build-to-suit development. A graduate of the University of Delaware, Mr.
O'Donnell also served as president and CEO of Crimson Capital Ltd., a
diversified real estate investment company offering investment
management services, as well as development, property management and
About USAA Real Estate Company
USAA Real Estate Company, with approximately $12 billion in assets under
management, provides co-investment, acquisition, build-to-suit and
development services for corporate and institutional investors. The USAA
Real Estate Company portfolio is diversified by product type and
location and includes investments in real estate operating companies.
USAA Real Estate Company is a subsidiary of USAA, a leading financial
services company, serving military families since 1922. For more
information, visit www.usrealco.com.
USAA provides insurance, banking, investment and retirement products and
services to 9.4 million members of the U.S. military and their families.
Known for its legendary commitment to its members, USAA is consistently
recognized for outstanding service, employee well-being and financial
strength. USAA membership is open to all who are serving or have
honorably served our nation in the U.S. military - and their eligible
family members. For more information about USAA, or to learn more about
membership, visit usaa.com.
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