Affinius Capital is a private real estate investment firm headquartered in San Antonio, Texas, formed in 2023 from the integration of USAA Real Estate and Square Mile Capital Management. The firm was originally established in 1982 as the real estate investment arm of USAA and operated under that structure until a 2020 management-led acquisition gave executives controlling interest in the business. In 2012, the firm formed a joint venture with Square Mile Capital to expand its debt and equity capabilities, culminating in the 2023 rebrand. The company invests across the risk spectrum and capital stack for a global client base, managing a portfolio of real assets spanning North America and Europe. Affinius operates through multiple strategies including development, acquisitions, and lending. The firm manages over $61 billion in assets under management as of 2026, with exposure to industrial and logistics, data centers, multifamily housing, life sciences, office, retail, and mixed-use properties.