The information set forth below under "Item 7.01 Regulation FD Disclosure" is incorporated herein by reference.

From time to time, the TIAA Real Estate Account (the "Account" or the "Registrant") prepares materials for its investors so that such investors may compare the performance of the Account to that of an independently formulated composite index. In order to facilitate comparability between the Account's performance and this index, the Account has engaged the National Council of Real Estate Investment Fiduciaries, an independent party, to recalculate the Account's direct real estate asset performance in accordance with the methodology used to measure performance for the real estate portion of the composite index (such document is entitled the "Report"). This recalculated performance is designed for the use of Account investors for comparison purposes only, and does not reflect the true returns experienced by holders of interests in the Account. In the future, the Account periodically intends to prepare similar comparison materials for its investors to reflect the most recent fiscal period for which data is available.

The most recently prepared Report, relating to the performance of the Account through December 31, 2011, is furnished as Exhibit 99.1 to this report. The information contained in this Item 7.01, including Exhibit 99.1 furnished herewith, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise stated in such filing.

(a) Not Applicable.

(b) Not Applicable.

(c) Not Applicable.

(d) Exhibits.

Exhibit No.   Description
-----------   --------------

  99.1 -      Quarterly Composite Index Comparison for the period ending December 31, 2011.