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Mortgage Loans Payable (Tables)

6 Months Ended

Jun. 30, 2013

Schedule Of Outstanding Mortgage Loans Payable Secured By Properties [Table Text Block]

The Account had outstanding mortgage loans payable secured by the following properties (in millions):


Property	Interest Rate and Payment Frequency⁽³⁾	Principal Amounts as of						Maturity
		June 30, 2013			December 31, 2012
		(Unaudited)
1 & 7 Westferry Circus^(1)(2)(5)	5.40% paid quarterly		$	—		$	208.4		February 28, 2013
Reserve at Sugarloaf⁽¹⁾⁽⁵⁾	5.49% paid monthly			—			23.9		June 1, 2013
South Frisco Village	5.85% paid monthly			—			26.3		June 1, 2013
Pacific Plaza⁽¹⁾⁽⁵⁾	5.55% paid monthly			7.9			8.0		September 1, 2013
Wilshire Rodeo Plaza⁽⁵⁾	5.28% paid monthly			112.7			112.7		April 11, 2014
1401 H Street NW⁽¹⁾⁽⁵⁾	5.97% paid monthly			110.1			110.8		December 7, 2014
Windsor at Lenox Park⁽⁵⁾	4.43% paid monthly			24.0			24.0		August 1, 2015
San Montego Apartments⁽⁵⁾⁽⁶⁾	4.47% paid monthly			21.8			21.8		August 1, 2015
Montecito Apartments⁽⁵⁾⁽⁶⁾	4.47% paid monthly			20.2			20.2		August 1, 2015
Phoenician Apartments⁽⁵⁾⁽⁶⁾	4.47% paid monthly			21.3			21.3		August 1, 2015
99 High Street	5.52% paid monthly			185.0			185.0		November 11, 2015
Lincoln Centre	5.51% paid monthly			153.0			153.0		February 1, 2016
Charleston Plaza⁽¹⁾⁽⁵⁾	5.60% paid monthly			36.5			36.9		September 11, 2016
The Legend at Kierland⁽⁵⁾⁽⁷⁾	4.97% paid monthly			21.8			21.8		August 1, 2017
The Tradition at Kierland⁽⁵⁾⁽⁷⁾	4.97% paid monthly			25.8			25.8		August 1, 2017
Mass Court⁽⁵⁾	2.88% paid monthly			92.6			92.6		September 1, 2019
Red Canyon at Palomino Park⁽⁵⁾⁽⁸⁾	5.34% paid monthly			27.1			27.1		August 1, 2020
Green River at Palomino Park⁽⁵⁾⁽⁸⁾	5.34% paid monthly			33.2			33.2		August 1, 2020
Blue Ridge at Palomino Park⁽⁵⁾⁽⁸⁾	5.34% paid monthly			33.4			33.4		August 1, 2020
Ashford Meadows⁽⁵⁾	5.17% paid monthly			44.6			44.6		August 1, 2020
The Corner⁽⁵⁾	4.66% paid monthly			105.0			105.0		June 1, 2021
The Palatine⁽⁵⁾	4.25% paid monthly			80.0			80.0		January 10, 2022
The Forum at Carlsbad⁽⁵⁾	4.25% paid monthly			90.0			90.0		March 1, 2022
The Colorado⁽⁵⁾	3.69% paid monthly			91.7			91.7		November 1, 2022
The Legacy at Westwood⁽⁵⁾	3.69% paid monthly			46.7			46.7		November 1, 2022
Regents Court⁽⁵⁾	3.69% paid monthly			39.6			39.6		November 1, 2022
The Caruth⁽⁵⁾	3.69% paid monthly			45.0			45.0		November 1, 2022
Fourth & Madison⁽⁵⁾⁽⁹⁾	3.75% paid monthly			200.0			145.0		June 1, 2023
1001 Pennsylvania Avenue⁽⁹⁾	3.70% paid monthly			330.0			210.0		June 1, 2023
50 Fremont Street⁽⁵⁾⁽⁹⁾	3.75% paid monthly			200.0			135.0		June 1, 2023
Publix at Weston Commons⁽⁵⁾	5.08% paid monthly			35.0			35.0		January 1, 2036

Total Principal Outstanding			$	2,234.0		$	2,253.8
Fair Value Adjustment⁽⁴⁾				20.8			28.8

Total mortgage loans payable			$	2,254.8		$	2,282.6

⁽¹⁾

The mortgage is adjusted monthly for principal payments.

⁽²⁾

The mortgage is denominated in British pounds and the principal payment had been converted to U.S. dollars using the exchange rate as of December 31, 2012.

⁽³⁾

Interest rates are fixed, unless stated otherwise.

⁽⁴⁾

The fair value adjustment consists of the difference (positive or negative) between the principal amount of the outstanding debt and the fair value of the outstanding debt. See Note 1- Organization and Significant Accounting Policies.

⁽⁵⁾

These properties are each owned by separate wholly owned subsidiaries of TIAA for benefit of the Account. The assets and credit of each of these borrowing entities are not available to satisfy the debts and other obligations of the Account or any other entity or person other than such borrowing entity.

⁽⁶⁾

Represents mortgage loans payable on these individual properties which are held within the Houston Apartment Portfolio.

⁽⁷⁾

Represents mortgage loans payable on these individual properties which are held within the Kierland Apartment Portfolio.

⁽⁸⁾

Represents mortgage loans payable on these individual properties which are held within Palomino Park.

⁽⁹⁾

Represents mortgage loans that were refinanced during the quarter ended June 30, 2013, into 10-year loans with interest only due for the first five years and principal payments due thereafter.