A former managing director at New York-based fund operator Square Mile Capital has moved just down the hall to USAA Real Estate Company (RealCo)'s Manhattan office.
Michael Schonbraun (pictured) started at RealCo, the real estate arm of financial services firm USAA, as executive director of real estate investments last month. In the newly created position, he is focusing on acquisitions in the Northeast and Mid-Atlantic and reports to executive managing director Bruce Peterson.
A spokeswoman for San Antonio-based RealCo confirmed the appointment but declined to comment further.
Prior to joining USAA, Schonbraun worked at Square Mile, which he joined in 2011 as a principal. He previously worked for Cerberus Capital from 2003 to 2011 and Berenson & Company from 2001 to 2002, according to his LinkedIn profile.
RealCo, which has about $15 billion in assets under management, according to its website, bought a minority stake in Square Mile in 2012.