USAA Real Estate (USAARE), a residential and commercial real estate firm with $20 billion in assets under management, is set to strike out on its own.

The United Services Automobile Association (USAA) — a provider of financial services, including mortgages and home insurance, to military service members — has sold a majority stake in USAA Real Estate to the management of USAARE and a private investment group, the Commercial Real Estate Herald reported. USAA will still retain a “significant ownership stake” and the transaction, expected to close in early 2020, should have “minimal impact” on employees.

In possession of properties around the world, USAA is based in San Antonio, Texas, but has team members spread out across New York, Amsterdam, Atlanta, Chicago, Dallas, Los Angeles, Seoul, San Francisco and Washington D.C.

“The move continues to simplify USAA’s operating structure, enabling it to better serve members through its core businesses of banking, auto, home and life insurance and retirement products,” said USAA in a statement, according to the Commercial Real Estate Herald.

USAA touts having “repaid every dollar of debt we borrowed in full and did not lose a single dollar of our investors’ equity” on its website. Its website also features a commitment to environmental and social sustainability.

The firm appears to place a special focus on channeling U.S. pension fund capital into real estate. It offers co-investment asset management services to U.S. pension funds, noting on its website that the beneficiaries of its investments include service members, teachers, police officers, firefighters and civil servants.

Email Teke Wiggin.

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