Joint Acquisition by SITQ and USAA

SITQ, a subsidiary of Caisse de dépôt et placement du Québec, and USAA Real Estate Company, the real estate arm of United States Automobile Association of San Antonio, Texas closed on May 25, 2000 the first of a series of REIT investments by acquiring the First National Bank Building in San Diego, California for an amount of $125 million.

SITQ’s legal team comprised Hélene Lafond, General Counsel of SITQ, and Pierre-André Themens (Montreal) and Jeff Scheine (New York) of Goodman Phillips & Vineberg. USAA was represented by Randal Seewald, Vice-President and General Counsel of USAA Real Estate Company, assisted by Elaine Folson of Locke Liddell & Sapp LLP of Dallas, Texas.
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