Affinius Capital is an institutional real estate investment firm headquartered in San Antonio and New York that manages approximately $61 billion in assets across North America and Europe. The firm was founded in 1982 as the real estate investment arm of USAA and operated under that name until 2020, when a management-led partnership acquired controlling interest. In 2012, USAA Real Estate formed a joint venture with Square Mile Capital to expand its debt and equity capabilities, completing a full buyout of Square Mile in 2021. The two platforms formally integrated under the Affinius Capital brand in March 2023. The firm invests across the capital stack through development, acquisitions, and lending, with strategic focus on technology-driven real estate assets including data centers and industrial logistics, multifamily housing, opportunistic investments, and structured credit. Core holdings span industrial logistics, multifamily, data centers, life science, office, retail, and mixed-use properties. In 2014, Affinius expanded into Europe with an Amsterdam office and a majority stake in Mountpark, a pan-European logistics developer, acquiring the remaining interest in November 2024. In 2021, the firm formed Corscale, a portfolio company focused on data center development for hyperscale clients. Affinius has invested approximately $14 billion in U.S. multifamily acquisitions and developments totaling 35,000 units, and has delivered 27 million square meters (290 million square feet) across 740 logistics projects since 2002. Geographic concentration includes the Northeastern U.S., Texas, California, the U.K., Ireland, and continental Europe.