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

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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	3,349	134,862	SH		SOLE		134,862	0	0
AGREE REALTY CORP	COM	008492100	982	33,840	SH		SOLE		33,840	0	0
AKAMAI TECHNOLOGIES INC	COM	00971T101	18,832	399,143	SH		SOLE		399,143	0	0
ALEXANDERS INC	COM	014752109	1,666	5,049	SH		SOLE		5,049	0	0
ALEXANDRIA REAL ESTATE EQ IN	COM	015271109	11,131	174,957	SH		SOLE		174,957	0	0
AMERICAN ASSETS TR INC	COM	024013104	2,733	86,953	SH		SOLE		86,953	0	0
AMERICAN CAMPUS CMNTYS INC	COM	024835100	8,246	256,019	SH		SOLE		256,019	0	0
AMERICAN HOMES 4 RENT	CL A	02665T306	1,863	114,990	SH		SOLE		114,990	0	0
AMERICAN RESIDENTIAL PPTYS I	COM	02927E303	786	45,810	SH		SOLE		45,810	0	0
AMERICAN RLTY CAP PPTYS INC	COM	02917T104	5,804	451,330	SH		SOLE		451,330	0	0
AMERICAN TOWER CORP NEW	COM	03027X100	77,369	969,299	SH		SOLE		969,299	0	0
APARTMENT INVT & MGMT CO	CL A	03748R101	9,212	355,553	SH		SOLE		355,553	0	0
ARMADA HOFFLER PPTYS INC	COM	04208T108	441	47,530	SH		SOLE		47,530	0	0
ASHFORD HOSPITALITY PRIME IN	COM	044102101	568	31,236	SH		SOLE		31,236	0	0
ASHFORD HOSPITALITY TR INC	COM SHS	044103109	1,293	156,183	SH		SOLE		156,183	0	0
ASSOCIATED ESTATES RLTY CORP	COM	045604105	2,299	143,225	SH		SOLE		143,225	0	0
AVALONBAY CMNTYS INC	COM	053484101	37,409	316,410	SH		SOLE		316,410	0	0
AVIV REIT INC MD	COM	05381L101	605	25,510	SH		SOLE		25,510	0	0
BIOMED REALTY TRUST INC	COM	09063H107	8,532	470,857	SH		SOLE		470,857	0	0
BOSTON PROPERTIES INC	COM	101121101	37,207	370,695	SH		SOLE		370,695	0	0
BRANDYWINE RLTY TR	SH BEN INT NEW	105368203	5,442	386,249	SH		SOLE		386,249	0	0
BRE PROPERTIES INC	CL A	05564E106	10,268	187,688	SH		SOLE		187,688	0	0
BRIXMOR PPTY GROUP INC	COM	11120U105	2,057	101,190	SH		SOLE		101,190	0	0
CALPINE CORP	COM NEW	131347304	43,472	2,228,216	SH		SOLE		2,228,216	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	11,805	207,546	SH		SOLE		207,546	0	0
CAMPUS CREST CMNTYS INC	COM	13466Y105	1,523	161,828	SH		SOLE		161,828	0	0
CBL & ASSOC PPTYS INC	COM	124830100	7,466	415,687	SH		SOLE		415,687	0	0
CEDAR REALTY TRUST INC	COM NEW	150602209	1,147	183,285	SH		SOLE		183,285	0	0
CHAMBERS STR PPTYS	COM	157842105	4,429	578,960	SH		SOLE		578,960	0	0
CHATHAM LODGING TR	COM	16208T102	1,181	57,737	SH		SOLE		57,737	0	0
CHESAPEAKE LODGING TR	SH BEN INT	165240102	3,129	123,712	SH		SOLE		123,712	0	0
CIT GROUP INC	COM NEW	125581801	2,828	54,250	SH		SOLE		54,250	0	0
COLE REAL ESTATE INVTS INC	COM	19329V105	16,101	1,146,830	SH		SOLE		1,146,830	0	0
COLUMBIA PPTY TR INC	COM NEW	198287203	6,751	270,050	SH		SOLE		270,050	0	0
COMMONWEALTH REIT	COM SH BEN INT	203233101	6,756	289,848	SH		SOLE		289,848	0	0
CORESITE RLTY CORP	COM	21870Q105	1,695	52,653	SH		SOLE		52,653	0	0
CORPORATE OFFICE PPTYS TR	SH BEN INT	22002T108	4,771	201,393	SH		SOLE		201,393	0	0
CORRECTIONS CORP AMER NEW	COM NEW	22025Y407	8,717	271,810	SH		SOLE		271,810	0	0
COTY INC	COM CL A	222070203	519	34,049	SH		SOLE		34,049	0	0
COUSINS PPTYS INC	COM	222795106	4,487	435,676	SH		SOLE		435,676	0	0
CUBESMART	COM	229663109	5,366	336,620	SH		SOLE		336,620	0	0
CYRUSONE INC	COM	23283R100	990	44,330	SH		SOLE		44,330	0	0
DCT INDUSTRIAL TRUST INC	COM	233153105	5,518	773,940	SH		SOLE		773,940	0	0
DDR CORP	COM	23317H102	11,501	748,278	SH		SOLE		748,278	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	5,539	479,587	SH		SOLE		479,587	0	0
DIGITAL RLTY TR INC	COM	253868103	15,411	313,752	SH		SOLE		313,752	0	0
DOUGLAS EMMETT INC	COM	25960P109	7,606	326,594	SH		SOLE		326,594	0	0
DUKE REALTY CORP	COM NEW	264411505	11,967	795,686	SH		SOLE		795,686	0	0
DUPONT FABROS TECHNOLOGY INC	COM	26613Q106	3,981	161,116	SH		SOLE		161,116	0	0
EASTGROUP PPTY INC	COM	277276101	4,290	74,049	SH		SOLE		74,049	0	0
EDUCATION RLTY TR INC	COM	28140H104	2,481	281,251	SH		SOLE		281,251	0	0
EMPIRE ST RLTY TR INC	CL A	292104106	2,817	184,140	SH		SOLE		184,140	0	0
EPR PPTYS	COM SH BEN INT	26884U109	6,125	124,602	SH		SOLE		124,602	0	0
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	6,648	183,486	SH		SOLE		183,486	0	0
EQUITY ONE	COM	294752100	3,230	143,936	SH		SOLE		143,936	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	45,205	871,504	SH		SOLE		871,504	0	0
ESSEX PPTY TR INC	COM	297178105	13,319	92,809	SH		SOLE		92,809	0	0
EVERBANK FINL CORP	COM	29977G102	5,182	282,527	SH		SOLE		282,527	0	0
EXCEL TR INC	COM	30068C109	1,270	111,535	SH		SOLE		111,535	0	0
EXTRA SPACE STORAGE INC	COM	30225T102	11,797	280,022	SH		SOLE		280,022	0	0
FEDERAL MOGUL CORP	COM	313549404	41,683	2,118,016	SH		SOLE		2,118,016	0	0
FEDERAL REALTY INVT TR	SH BEN INT NEW	313747206	16,270	160,436	SH		SOLE		160,436	0	0
FELCOR LODGING TR INC	COM	31430F101	2,454	300,775	SH		SOLE		300,775	0	0
FIRST INDUSTRIAL REALTY TRUS	COM	32054K103	4,780	273,923	SH		SOLE		273,923	0	0
FIRST POTOMAC RLTY TR	COM	33610F109	1,680	144,421	SH		SOLE		144,421	0	0
FRANKLIN STREET PPTYS CORP	COM	35471R106	2,597	217,299	SH		SOLE		217,299	0	0
GENERAL GROWTH PPTYS INC NEW	COM	370023103	25,494	1,270,239	SH		SOLE		1,270,239	0	0
GENERAL MTRS CO	COM	37045V100	498	12,175	SH		SOLE		12,175	0	0
GEO GROUP INC	COM	36159R103	5,447	169,050	SH		SOLE		169,050	0	0
GETTY RLTY CORP NEW	COM	374297109	1,167	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	3,374	360,422	SH		SOLE		360,422	0	0
GOVERNMENT PPTYS INCOME TR	COM SHS BEN INT	38376A103	3,388	136,327	SH		SOLE		136,327	0	0
GRAMERCY PPTY TR INC	COM	38489R100	734	127,720	SH		SOLE		127,720	0	0
HCP INC	COM	40414L109	40,218	1,107,319	SH		SOLE		1,107,319	0	0
HEALTH CARE REIT INC	COM	42217K106	37,249	695,326	SH		SOLE		695,326	0	0
HEALTHCARE RLTY TR	COM	421946104	5,066	237,712	SH		SOLE		237,712	0	0
HEALTHCARE TR AMER INC	CL A	42225P105	5,702	579,520	SH		SOLE		579,520	0	0
HERSHA HOSPITALITY TR	SH BEN INT A	427825104	2,377	426,743	SH		SOLE		426,743	0	0
HIGHWOODS PPTYS INC	COM	431284108	7,953	219,889	SH		SOLE		219,889	0	0
HOME PROPERTIES INC	COM	437306103	7,518	140,210	SH		SOLE		140,210	0	0
HOSPITALITY PPTYS TR	COM SH BEN INT	44106M102	9,916	366,850	SH		SOLE		366,850	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	35,437	1,822,914	SH		SOLE		1,822,914	0	0
HUDSON PAC PPTYS INC	COM	444097109	2,325	106,312	SH		SOLE		106,312	0	0
INLAND REAL ESTATE CORP	COM NEW	457461200	2,273	216,059	SH		SOLE		216,059	0	0
INVESTORS REAL ESTATE TR	SH BEN INT	461730103	2,201	256,491	SH		SOLE		256,491	0	0
ISHARES	U.S. REAL ES ETF	464287739	94,635	1,500,000	SH		SOLE		1,500,000	0	0
KILROY RLTY CORP	COM	49427F108	10,091	201,093	SH		SOLE		201,093	0	0
KIMCO RLTY CORP	COM	49446R109	19,618	993,333	SH		SOLE		993,333	0	0
KITE RLTY GROUP TR	COM	49803T102	2,112	321,483	SH		SOLE		321,483	0	0
LASALLE HOTEL PPTYS	COM SH BEN INT	517942108	7,852	254,432	SH		SOLE		254,432	0	0
LEVEL 3 COMMUNICATIONS INC	COM NEW	52729N308	13,903	419,142	SH		SOLE		419,142	0	0
LEXINGTON REALTY TRUST	COM	529043101	5,553	543,895	SH		SOLE		543,895	0	0
LIBERTY PPTY TR	SH BEN INT	531172104	12,034	355,290	SH		SOLE		355,290	0	0
LTC PPTYS INC	COM	502175102	3,002	84,816	SH		SOLE		84,816	0	0
MACERICH CO	COM	554382101	20,249	343,852	SH		SOLE		343,852	0	0
MACK CALI RLTY CORP	COM	554489104	4,663	217,063	SH		SOLE		217,063	0	0
MARKEL CORP	COM	570535104	18,916	32,594	SH		SOLE		32,594	0	0
MEDICAL PPTYS TRUST INC	COM	58463J304	4,831	395,297	SH		SOLE		395,297	0	0
MID-AMER APT CMNTYS INC	COM	59522J103	11,037	181,705	SH		SOLE		181,705	0	0
MONMOUTH REAL ESTATE INVT CO	CL A	609720107	936	102,977	SH		SOLE		102,977	0	0
NATIONAL HEALTH INVS INC	COM	63633D104	4,056	72,294	SH		SOLE		72,294	0	0
NATIONAL RETAIL PPTYS INC	COM	637417106	8,996	296,600	SH		SOLE		296,600	0	0
NUANCE COMMUNICATIONS INC	COM	67020Y100	1,366	89,850	SH		SOLE		89,850	0	0
OMEGA HEALTHCARE INVS INC	COM	681936100	8,918	299,263	SH		SOLE		299,263	0	0
ONE LIBERTY PPTYS INC	COM	682406103	631	31,357	SH		SOLE		31,357	0	0
PARKWAY PPTYS INC	COM	70159Q104	2,570	133,229	SH		SOLE		133,229	0	0
PARTNERRE LTD	COM	G6852T105	21,773	206,518	SH		SOLE		206,518	0	0
PEABODY ENERGY CORP	SDCV 4.750%12/1	704549AG9	5,930	7,500,000	SH		SOLE		7,500,000	0	0
PEBBLEBROOK HOTEL TR	COM	70509V100	4,732	153,837	SH		SOLE		153,837	0	0
PENNSYLVANIA RL ESTATE INVT	SH BEN INT	709102107	3,075	162,035	SH		SOLE		162,035	0	0
PHYSICIANS RLTY TR	COM	71943U104	611	47,950	SH		SOLE		47,950	0	0
PIEDMONT OFFICE REALTY TR IN	COM CL A	720190206	6,771	409,892	SH		SOLE		409,892	0	0
PLUM CREEK TIMBER CO INC	COM	729251108	20,100	432,157	SH		SOLE		432,157	0	0
POST PPTYS INC	COM	737464107	6,027	133,253	SH		SOLE		133,253	0	0
POTLATCH CORP NEW	COM	737630103	3,850	92,248	SH		SOLE		92,248	0	0
PROLOGIS INC	COM	74340W103	45,014	1,218,251	SH		SOLE		1,218,251	0	0
PS BUSINESS PKS INC CALIF	COM	69360J107	3,784	49,510	SH		SOLE		49,510	0	0
PUBLIC STORAGE	COM	74460D109	52,610	349,519	SH		SOLE		349,519	0	0
RAMCO-GERSHENSON PPTYS TR	COM SH BEN INT	751452202	2,362	150,090	SH		SOLE		150,090	0	0
RAYONIER INC	COM	754907103	12,976	308,209	SH		SOLE		308,209	0	0
REALTY INCOME CORP	COM	756109104	18,676	500,294	SH		SOLE		500,294	0	0
REGENCY CTRS CORP	COM	758849103	10,406	224,748	SH		SOLE		224,748	0	0
RETAIL OPPORTUNITY INVTS COR	COM	76131N101	2,628	178,566	SH		SOLE		178,566	0	0
RETAIL PPTYS AMER INC	CL A	76131V202	5,956	468,255	SH		SOLE		468,255	0	0
REXFORD INDL RLTY INC	COM	76169C100	525	39,760	SH		SOLE		39,760	0	0
RLJ LODGING TR	COM	74965L101	7,317	300,884	SH		SOLE		300,884	0	0
ROUSE PPTYS INC	COM	779287101	1,179	53,113	SH		SOLE		53,113	0	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	4,910	117,520	SH		SOLE		117,520	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	2,404	91,983	SH		SOLE		91,983	0	0
SAUL CTRS INC	COM	804395101	1,562	32,736	SH		SOLE		32,736	0	0
SELECT INCOME REIT	COM SH BEN INT	81618T100	1,830	68,430	SH		SOLE		68,430	0	0
SENIOR HSG PPTYS TR	SH BEN INT	81721M109	10,231	460,237	SH		SOLE		460,237	0	0
SILVER BAY RLTY TR CORP	COM	82735Q102	1,499	93,740	SH		SOLE		93,740	0	0
SIMON PPTY GROUP INC NEW	COM	828806109	114,214	750,616	SH		SOLE		750,616	0	0
SL GREEN RLTY CORP	COM	78440X101	21,455	232,245	SH		SOLE		232,245	0	0
SOVRAN SELF STORAGE INC	COM	84610H108	5,129	78,699	SH		SOLE		78,699	0	0
SPIRIT RLTY CAP INC NEW	COM	84860W102	8,536	868,341	SH		SOLE		868,341	0	0
STAG INDL INC	COM	85254J102	2,140	104,960	SH		SOLE		104,960	0	0
STRATEGIC HOTELS & RESORTS I	COM	86272T106	3,942	417,139	SH		SOLE		417,139	0	0
SUMMIT HOTEL PPTYS	COM	866082100	1,796	199,598	SH		SOLE		199,598	0	0
SUN CMNTYS INC	COM	866674104	3,659	85,816	SH		SOLE		85,816	0	0
SUNSTONE HOTEL INVS INC NEW	COM	867892101	5,991	447,056	SH		SOLE		447,056	0	0
TANGER FACTORY OUTLET CTRS I	COM	875465106	7,321	228,624	SH		SOLE		228,624	0	0
TAUBMAN CTRS INC	COM	876664103	9,921	155,209	SH		SOLE		155,209	0	0
TERRENO RLTY CORP	COM	88146M101	1,047	59,134	SH		SOLE		59,134	0	0
TIME WARNER CABLE INC	COM	88732J207	27,769	204,939	SH		SOLE		204,939	0	0
TRONOX LTD	SHS CL A	Q9235V101	5,737	248,690	SH		SOLE		248,690	0	0
U M H PROPERTIES INC	COM	903002103	299	31,724	SH		SOLE		31,724	0	0
UDR INC	COM	902653104	14,303	612,561	SH		SOLE		612,561	0	0
UNIVERSAL HEALTH RLTY INCM T	SH BEN INT	91359E105	1,274	31,798	SH		SOLE		31,798	0	0
URSTADT BIDDLE PPTYS INC	CL A	917286205	1,085	58,833	SH		SOLE		58,833	0	0
VENTAS INC	COM	92276F100	41,192	719,138	SH		SOLE		719,138	0	0
VORNADO RLTY TR	SH BEN INT	929042109	36,379	409,723	SH		SOLE		409,723	0	0
W P CAREY INC	COM	92936U109	8,682	141,520	SH		SOLE		141,520	0	0
WASHINGTON REAL ESTATE INVT	SH BEN INT	939653101	3,836	164,207	SH		SOLE		164,207	0	0
WEINGARTEN RLTY INVS	SH BEN INT	948741103	7,305	266,400	SH		SOLE		266,400	0	0
WEYERHAEUSER CO	COM	962166104	44,956	1,423,998	SH		SOLE		1,423,998	0	0
WHITESTONE REIT	COM	966084204	614	45,930	SH		SOLE		45,930	0	0
WINTHROP RLTY TR	SH BEN INT NEW	976391300	887	80,257	SH		SOLE		80,257	0	0