Eben Novy-Williams of Bloomberg reports:

Admiral Capital Group, the private- equity firm of former San Antonio Spurs All-Star David Robinson, entered into a joint venture with United States Automobile Association Real Estate to invest in property.

San Antonio-based USAA’s $50 million investment will be matched by investors including Admiral Capital, Covenant Multifamily Offices and Spurs owner Peter Holt.

The group will make investments between $25 million and $100 million in office buildings, lodging, multifamily dwellings and retail properties.