Affinius Capital has offloaded more of its San Antonio portfolio.
The real estate investment firm, formerly known as USAA Real Estate, sold the Colonnade, a 142,000-square-foot office building where its own headquarters is located, at 9830 Colonnade Boulevard, to investment firm SageView for an undisclosed amount, the San Antonio Business Journal reported.
The building was valued this year at just under $28 million, according to the Bexar County Appraisal District. SageView took out a loan from Security State Bank as part of the deal.
Affinius, led by CEO Len O’Donnell, is the building’s largest tenant and will continue operating at the site, Affinius co-COO Pete McLaughlin said.
In April, Affinius sold a 6,500-square-foot downtown office building at 1012 Navarro Street to hotelier Douglas Jaffe.
Affinius’ parent company, USAA, moved out of its downtown building at 300 Convent Street in December. The insurance giant announced it was bringing a handful of employees back to the office in March after they worked remotely throughout the pandemic.
—Quinn Donoghue
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