USAA RealCo and HSA Form Midwest Partnership

Advocate Southwest Outpatient Center in suburban Tinley Park, IL, one of several properties just acquired by the new joint venture between USAA RealCo and HSA PrimeCare.

CHICAGO—USAA Real Estate Co. and HSA PrimeCare, the national healthcare real estate division of Chicago-based HSA Commercial Real Estate, have just formed a joint venture to acquire and develop healthcare real estate properties in 11 Midwestern states. The San Antonio-based USAA RealCo forged a similar agreement last year with Brackett Flagship Properties LLC to cover the Southeast region, and its leaders tell GlobeSt.com that these moves are part of a national strategy.

“We believe this product has a compelling case,” says Rob Sult, a managing director of USAA RealCo, and company officials are currently having “on-going discussions with similar types of firms around the country.” By the end of this year, he expects to forge two or three other regional partnerships.