Affinius Capital

Affinius Capital traces its roots to 1982, when it was founded as the real estate investment arm of USAA. USAA Real Estate formed a joint venture with Square Mile Capital in 2012, acquired the remaining interest in 2021, and launched the Affinius Capital brand in March 2023.

The firm manages institutional real estate investments through equity, lending, development, acquisitions and asset management strategies. Its focus includes technology-driven real estate such as data centers and logistics, housing, opportunistic investments and structured credit.

Affinius is especially notable for operating across the capital stack: it can provide both property-level equity and lending solutions, with in-house development, acquisitions, portfolio management and research capabilities.