Teachers Insurance And Annuity Association Of America - Real Estate Account Variable Annuity (QREARX) 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ACADIA RLTY TR	COM SH BEN INT	004239109	3,451	139,832	SH		SOLE		139,832	0	0
AGREE REALTY CORP	COM	008492100	1,021	33,840	SH		SOLE		33,840	0	0
AKAMAI TECHNOLOGIES INC	COM	00971T101	20,635	399,143	SH		SOLE		399,143	0	0
ALEXANDERS INC	COM	014752109	1,445	5,049	SH		SOLE		5,049	0	0
ALEXANDRIA REAL ESTATE EQ IN	COM	015271109	11,403	178,587	SH		SOLE		178,587	0	0
AMERICAN ASSETS TR INC	COM	024013104	2,653	86,953	SH		SOLE		86,953	0	0
AMERICAN CAMPUS CMNTYS INC	COM	024835100	8,962	262,419	SH		SOLE		262,419	0	0
AMERICAN HOMES 4 RENT	CL A ADDED	02665T306	1,857	114,990	SH		SOLE		114,990	0	0
AMERICAN RESIDENTIAL PPTYS I	COM	02927E303	807	45,810	SH		SOLE		45,810	0	0
AMERICAN RLTY CAP PPTYS INC	COM	02917T104	5,579	457,300	SH		SOLE		457,300	0	0
AMERICAN TOWER CORP NEW	COM	03027X100	73,093	986,009	SH		SOLE		986,009	0	0
APARTMENT INVT & MGMT CO	CL A	03748R101	10,148	363,223	SH		SOLE		363,223	0	0
ARMADA HOFFLER PPTYS INC	COM	04208T108	471	47,530	SH		SOLE		47,530	0	0
ASHFORD HOSPITALITY TR INC	COM SHS	044103109	1,927	156,183	SH		SOLE		156,183	0	0
ASSOCIATED ESTATES RLTY CORP	COM	045604105	1,912	128,225	SH		SOLE		128,225	0	0
AUL CTRS INC	COM	804395101	1,514	32,736	SH		SOLE		32,736	0	0
AVALONBAY CMNTYS INC	COM	053484101	40,845	321,390	SH		SOLE		321,390	0	0
AVIV REIT INC MD	COM	05381L101	666	29,210	SH		SOLE		29,210	0	0
BIOMED REALTY TRUST INC	COM	09063H107	8,964	482,177	SH		SOLE		482,177	0	0
BOSTON PROPERTIES INC	COM	101121101	40,268	376,685	SH		SOLE		376,685	0	0
BRANDYWINE RLTY TR	SH BEN INT NEW	105368203	5,217	395,829	SH		SOLE		395,829	0	0
BRE PROPERTIES INC	CL A	05564E106	9,615	189,418	SH		SOLE		189,418	0	0
CALPINE CORP	COM NEW	131347304	43,294	2,228,216	SH		SOLE		2,228,216	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	13,040	212,246	SH		SOLE		212,246	0	0
CAMPUS CREST CMNTYS INC	COM	13466Y105	1,748	161,828	SH		SOLE		161,828	0	0
CAPLEASE INC	COM	140288101	1,802	212,259	SH		SOLE		212,259	0	0
CBL & ASSOC PPTYS INC	COM	124830100	8,146	426,477	SH		SOLE		426,477	0	0
CEDAR REALTY TRUST INC	COM NEW	150602209	949	183,285	SH		SOLE		183,285	0	0
CHAMBERS STR PPTYS	COM	157842105	4,846	551,900	SH		SOLE		551,900	0	0
CHATHAM LODGING TR	COM	16208T102	1,031	57,737	SH		SOLE		57,737	0	0
CHESAPEAKE LODGING TR	SH BEN INT	165240102	2,912	123,712	SH		SOLE		123,712	0	0
CIT GROUP INC	COM NEW	125581801	2,645	54,249	SH		SOLE		54,249	0	0
COLE REAL ESTATE INVTS INC	COM ADDED	19329V105	14,397	1,174,270	SH		SOLE		1,174,270	0	0
COLONIAL PPTYS TR	COM SH BEN INT	195872106	4,512	200,614	SH		SOLE		200,614	0	0
COMMONWEALTH REIT	COM SH BEN INT	203233101	6,451	294,418	SH		SOLE		294,418	0	0
CORESITE RLTY CORP	COM	21870Q105	1,873	55,183	SH		SOLE		55,183	0	0
CORPORATE OFFICE PPTYS TR	SH BEN INT	22002T108	4,792	207,453	SH		SOLE		207,453	0	0
CORRECTIONS CORP AMER NEW	COM NEW	22025Y407	9,595	277,710	SH		SOLE		277,710	0	0
COUSINS PPTYS INC	COM	222795106	4,483	435,676	SH		SOLE		435,676	0	0
CUBESMART	COM	229663109	6,005	336,620	SH		SOLE		336,620	0	0
CYRUSONE INC	COM	23283R100	841	44,330	SH		SOLE		44,330	0	0
DCT INDUSTRIAL TRUST INC	COM	233153105	5,734	797,530	SH		SOLE		797,530	0	0
DDR CORP	COM	23317H102	9,955	633,688	SH		SOLE		633,688	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	5,226	489,827	SH		SOLE		489,827	0	0
DIGITAL RLTY TR INC	COM	253868103	17,038	320,872	SH		SOLE		320,872	0	0
DOUGLAS EMMETT INC	COM	25960P109	7,665	326,594	SH		SOLE		326,594	0	0
DUKE REALTY CORP	COM NEW	264411505	12,496	809,306	SH		SOLE		809,306	0	0
DUPONT FABROS TECHNOLOGY INC	COM	26613Q106	4,152	161,116	SH		SOLE		161,116	0	0
EASTGROUP PPTY INC	COM	277276101	4,384	74,049	SH		SOLE		74,049	0	0
EDUCATION RLTY TR INC	COM	28140H104	2,672	293,651	SH		SOLE		293,651	0	0
EPR PPTYS	COM SH BEN INT	26884U109	5,714	117,232	SH		SOLE		117,232	0	0
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	6,398	187,246	SH		SOLE		187,246	0	0
EQUITY ONE	COM	294752100	3,146	143,936	SH		SOLE		143,936	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	47,499	886,664	SH		SOLE		886,664	0	0
ESSEX PPTY TR INC	COM	297178105	13,895	94,079	SH		SOLE		94,079	0	0
EVERBANK FINANCIAL CORP	COM	29977G102	4,232	282,526	SH		SOLE		282,526	0	0
EXCEL TR INC	COM	30068C109	1,430	119,155	SH		SOLE		119,155	0	0
EXTRA SPACE STORAGE INC	COM	30225T102	11,804	258,002	SH		SOLE		258,002	0	0
FEDERAL REALTY INVT TR	SH BEN INT NEW	313747206	16,513	162,766	SH		SOLE		162,766	0	0
FEDERAL-MOGUL CORP	COM	313549404	35,561	2,118,016	SH		SOLE		2,118,016	0	0
FELCOR LODGING TR INC	COM	31430F101	1,853	300,775	SH		SOLE		300,775	0	0
FIRST INDUSTRIAL REALTY TRUS	COM	32054K103	4,457	273,923	SH		SOLE		273,923	0	0
FIRST POTOMAC RLTY TR	COM	33610F109	1,910	151,941	SH		SOLE		151,941	0	0
FRANKLIN STREET PPTYS CORP	COM	35471R106	2,869	225,189	SH		SOLE		225,189	0	0
GENERAL GROWTH PPTYS INC NEW	COM	370023103	26,527	1,375,179	SH		SOLE		1,375,179	0	0
GENERAL MOTORS CO	COM	37045V100	207	5,774	SH		SOLE		5,774	0	0
GEO GROUP INC	COM	36159R103	5,702	171,490	SH		SOLE		171,490	0	0
GETTY RLTY CORP NEW	COM	374297109	1,235	63,548	SH		SOLE		63,548	0	0
GLADSTONE COML CORP	COM	376536108	611	34,020	SH		SOLE		34,020	0	0
GLIMCHER RLTY TR	SH BEN INT	379302102	3,514	360,422	SH		SOLE		360,422	0	0
GOVERNMENT PPTYS INCOME TR	COM SHS BEN INT	38376A103	3,341	139,597	SH		SOLE		139,597	0	0
HCP INC	COM	40414L109	46,221	1,128,719	SH		SOLE		1,128,719	0	0
HEALTH CARE REIT INC	COM	42217K106	44,225	708,958	SH		SOLE		708,958	0	0
HEALTHCARE RLTY TR	COM	421946104	5,587	241,762	SH		SOLE		241,762	0	0
HEALTHCARE TR AMER INC	CL A	42225P105	1,156	109,880	SH		SOLE		109,880	0	0
HERSHA HOSPITALITY TR	SH BEN INT A	427825104	2,470	441,823	SH		SOLE		441,823	0	0
HIGHWOODS PPTYS INC	COM	431284108	7,928	224,539	SH		SOLE		224,539	0	0
HOME PROPERTIES INC	COM	437306103	8,097	140,210	SH		SOLE		140,210	0	0
HOSPITALITY PPTYS TR	COM SH BEN INT	44106M102	9,915	350,350	SH		SOLE		350,350	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	32,818	1,857,264	SH		SOLE		1,857,264	0	0
HUDSON PAC PPTYS INC	COM	444097109	2,068	106,312	SH		SOLE		106,312	0	0
INLAND REAL ESTATE CORP	COM NEW	457461200	2,210	216,059	SH		SOLE		216,059	0	0
INVESTORS REAL ESTATE TR	SH BEN INT	461730103	2,116	256,491	SH		SOLE		256,491	0	0
ISHARES	U.S. REAL ES ETF	464287739	95,640	1,500,000	SH		SOLE		1,500,000	0	0
KILROY RLTY CORP	COM	49427F108	9,453	189,243	SH		SOLE		189,243	0	0
KIMCO RLTY CORP	COM	49446R109	20,452	1,013,463	SH		SOLE		1,013,463	0	0
KITE RLTY GROUP TR	COM	49803T102	1,438	242,483	SH		SOLE		242,483	0	0
LAREDO PETROLEUM HOLDINGS	COM	516806106	742	25,000	SH		SOLE		25,000	0	0
LASALLE HOTEL PPTYS	COM SH BEN INT	517942108	6,782	237,792	SH		SOLE		237,792	0	0
LEVEL 3 COMMUNICATIONS INC	COM NEW	52729N308	11,186	419,142	SH		SOLE		419,142	0	0
LEXINGTON REALTY TRUST	COM	529043101	6,108	543,895	SH		SOLE		543,895	0	0
LIBERTY PPTY TR	SH BEN INT	531172104	12,729	357,550	SH		SOLE		357,550	0	0
LTC PPTYS INC	COM	502175102	3,338	87,896	SH		SOLE		87,896	0	0
MACERICH CO	COM	554382101	19,809	350,982	SH		SOLE		350,982	0	0
MACK CALI RLTY CORP	COM	554489104	4,847	220,933	SH		SOLE		220,933	0	0
MARKEL CORP	COM	570535104	16,876	32,594	SH		SOLE		32,594	0	0
MEDICAL PPTYS TRUST INC	COM	58463J304	4,965	407,967	SH		SOLE		407,967	0	0
MID-AMER APT CMNTYS INC	COM	59522J103	6,574	105,184	SH		SOLE		105,184	0	0
MONMOUTH REAL ESTATE INVT CO	CL A	609720107	934	102,977	SH		SOLE		102,977	0	0
MPG OFFICE TR INC	COM	553274101	444	141,919	SH		SOLE		141,919	0	0
NATIONAL HEALTH INVS INC	COM	63633D104	3,515	61,794	SH		SOLE		61,794	0	0
NATIONAL RETAIL PPTYS INC	COM	637417106	9,672	303,970	SH		SOLE		303,970	0	0
NUANCE COMMUNICATIONS INC	COM	67020Y100	1,678	89,850	SH		SOLE		89,850	0	0
OMEGA HEALTHCARE INVS INC	COM	681936100	8,708	291,533	SH		SOLE		291,533	0	0
ONE LIBERTY PPTYS INC	COM	682406103	636	31,357	SH		SOLE		31,357	0	0
PARKWAY PPTYS INC	COM	70159Q104	1,986	111,749	SH		SOLE		111,749	0	0
PARTNERRE LTD	COM	G6852T105	18,904	206,518	SH		SOLE		206,518	0	0
PEABODY ENERGY CORP	SDCV 4.750%12/1	704549AG9	6,318	7,500,000	SH		SOLE		7,500,000	0	0
PEBBLEBROOK HOTEL TR	COM	70509V100	4,417	153,837	SH		SOLE		153,837	0	0
PENNSYLVANIA RL ESTATE INVT	SH BEN INT	709102107	3,030	162,035	SH		SOLE		162,035	0	0
PHYSICIANS RLTY TR	COM ADDED	71943U104	285	23,540	SH		SOLE		23,540	0	0
PIEDMONT OFFICE REALTY TR IN	COM CL A	720190206	7,233	416,642	SH		SOLE		416,642	0	0
PLUM CREEK TIMBER CO INC	COM	729251108	18,901	403,607	SH		SOLE		403,607	0	0
POST PPTYS INC	COM	737464107	5,999	133,253	SH		SOLE		133,253	0	0
POTLATCH CORP NEW	COM	737630103	3,660	92,248	SH		SOLE		92,248	0	0
PROLOGIS INC	COM	74340W103	46,715	1,241,751	SH		SOLE		1,241,751	0	0
PS BUSINESS PKS INC CALIF	COM	69360J107	3,284	44,010	SH		SOLE		44,010	0	0
PUBLIC STORAGE	COM	74460D109	57,038	355,269	SH		SOLE		355,269	0	0
RAMCO-GERSHENSON PPTYS TR	COM SH BEN INT	751452202	2,313	150,090	SH		SOLE		150,090	0	0
RAYONIER INC	COM	754907103	17,393	312,549	SH		SOLE		312,549	0	0
REALTY INCOME CORP	COM	756109104	19,405	488,164	SH		SOLE		488,164	0	0
REGENCY CTRS CORP	COM	758849103	10,950	226,468	SH		SOLE		226,468	0	0
RETAIL OPPORTUNITY INVTS COR	COM	76131N101	2,468	178,566	SH		SOLE		178,566	0	0
RETAIL PPTYS AMER INC	CL A	76131V202	6,439	468,255	SH		SOLE		468,255	0	0
REXFORD INDL RLTY INC	COM ADDED	76169C100	537	39,760	SH		SOLE		39,760	0	0
RLJ LODGING TR	COM	74965L101	7,173	305,364	SH		SOLE		305,364	0	0
ROUSE PPTYS INC	COM	779287101	1,093	53,113	SH		SOLE		53,113	0	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	4,580	132,720	SH		SOLE		132,720	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	2,195	95,403	SH		SOLE		95,403	0	0
SELECT INCOME REIT	COM SH BEN INT	81618T100	1,849	71,680	SH		SOLE		71,680	0	0
SENIOR HSG PPTYS TR	SH BEN INT	81721M109	10,997	471,147	SH		SOLE		471,147	0	0
SILVER BAY RLTY TR CORP	COM	82735Q102	1,468	93,740	SH		SOLE		93,740	0	0
SIMON PPTY GROUP INC NEW	COM	828806109	113,203	763,696	SH		SOLE		763,696	0	0
SL GREEN RLTY CORP	COM	78440X101	20,179	227,135	SH		SOLE		227,135	0	0
SOVRAN SELF STORAGE INC	COM	84610H108	5,956	78,699	SH		SOLE		78,699	0	0
SPIRIT RLTY CAP INC NEW	COM ADDED	84860W102	8,128	885,451	SH		SOLE		885,451	0	0
STAG INDL INC	COM	85254J102	2,112	104,960	SH		SOLE		104,960	0	0
STRATEGIC HOTELS & RESORTS I	COM	86272T106	3,621	417,139	SH		SOLE		417,139	0	0
SUMMIT HOTEL PPTYS	COM	866082100	1,521	165,518	SH		SOLE		165,518	0	0
SUN CMNTYS INC	COM	866674104	3,657	85,816	SH		SOLE		85,816	0	0
SUNSTONE HOTEL INVS INC NEW	COM	867892101	5,213	409,166	SH		SOLE		409,166	0	0
TANGER FACTORY OUTLET CTRS I	COM	875465106	7,559	231,504	SH		SOLE		231,504	0	0
TAUBMAN CTRS INC	COM	876664103	10,595	157,399	SH		SOLE		157,399	0	0
TERRENO RLTY CORP	COM	88146M101	1,050	59,134	SH		SOLE		59,134	0	0
TIME WARNER CABLE INC	COM	88732J207	22,871	204,939	SH		SOLE		204,939	0	0
TRONOX LTD	SHS CL A	Q9235V101	6,085	248,690	SH		SOLE		248,690	0	0
U M H PROPERTIES INC	COM	903002103	315	31,724	SH		SOLE		31,724	0	0
UDR INC	COM	902653104	14,828	625,661	SH		SOLE		625,661	0	0
UNIVERSAL HEALTH RLTY INCM T	SH BEN INT	91359E105	1,331	31,798	SH		SOLE		31,798	0	0
URSTADT BIDDLE PPTYS INC	CL A	917286205	1,170	58,833	SH		SOLE		58,833	0	0
VENTAS INC	COM	92276F100	45,101	733,348	SH		SOLE		733,348	0	0
VORNADO RLTY TR	SH BEN INT	929042109	34,973	416,053	SH		SOLE		416,053	0	0
W P CAREY INC	COM	92936U109	9,400	145,290	SH		SOLE		145,290	0	0
WASHINGTON REAL ESTATE INVT	SH BEN INT	939653101	4,150	164,207	SH		SOLE		164,207	0	0
WEINGARTEN RLTY INVS	SH BEN INT	948741103	8,010	273,110	SH		SOLE		273,110	0	0
WEYERHAEUSER CO	COM	962166104	41,411	1,446,418	SH		SOLE		1,446,418	0	0
WHITESTONE REIT	COM	966084204	677	45,930	SH		SOLE		45,930	0	0
WINTHROP RLTY TR	SH BEN INT NEW	976391300	894	80,257	SH		SOLE		80,257	0	0