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
PEABODY ENERGY CORP	SDCV 4.750%12/1	704549AG9	6,470	8,000,000	SH		SOLE		8,000,000	0	0
ACADIA RLTY TR	COM SH BEN INT	004239109	3,527	133,682	SH		SOLE		133,682	0	0
AGREE REALTY CORP	COM	008492100	1,029	33,840	SH		SOLE		33,840	0	0
AMERICAN ASSETS TR INC	COM	024013104	2,852	84,533	SH		SOLE		84,533	0	0
AMERICAN CAMPUS CMNTYS INC	COM	024835100	9,495	254,209	SH		SOLE		254,209	0	0
AMERICAN HOMES 4 RENT	CL A	02665T306	5,366	321,130	SH		SOLE		321,130	0	0
AMERICAN RESIDENTIAL PPTYS I	COM	02927E303	824	45,810	SH		SOLE		45,810	0	0
AMERICAN RLTY CAP PPTYS INC	COM	02917T104	25,413	1,812,637	SH		SOLE		1,812,637	0	0
AMERICAN TOWER CORP NEW	COM	03027X100	78,419	957,849	SH		SOLE		957,849	0	0
APARTMENT INVT & MGMT CO	CL A	03748R101	10,588	350,363	SH		SOLE		350,363	0	0
ARMADA HOFFLER PPTYS INC	COM	04208T108	477	47,530	SH		SOLE		47,530	0	0
ASHFORD HOSPITALITY PRIME IN	COM	044102101	620	40,976	SH		SOLE		40,976	0	0
ASHFORD HOSPITALITY TR INC	COM SHS	044103109	1,694	150,323	SH		SOLE		150,323	0	0
ASSOCIATED ESTATES RLTY CORP	COM	045604105	2,353	138,915	SH		SOLE		138,915	0	0
AVALONBAY CMNTYS INC	COM	053484101	41,003	312,240	SH		SOLE		312,240	0	0
AVIV REIT INC MD	COM	05381L101	624	25,510	SH		SOLE		25,510	0	0
BIOMED REALTY TRUST INC	COM	09063H107	9,577	467,397	SH		SOLE		467,397	0	0
BOSTON PROPERTIES INC	COM	101121101	41,976	366,505	SH		SOLE		366,505	0	0
BRANDYWINE RLTY TR	SH BEN INT NEW	105368203	5,454	377,179	SH		SOLE		377,179	0	0
BRE PROPERTIES INC	CL A	05564E106	11,662	185,758	SH		SOLE		185,758	0	0
BRIXMOR PPTY GROUP INC	COM	11120U105	2,158	101,190	SH		SOLE		101,190	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	13,835	205,456	SH		SOLE		205,456	0	0
CAMPUS CREST CMNTYS INC	COM	13466Y105	1,357	156,348	SH		SOLE		156,348	0	0
CBL & ASSOC PPTYS INC	COM	124830100	7,270	409,597	SH		SOLE		409,597	0	0
CEDAR REALTY TRUST INC	COM NEW	150602209	1,166	190,845	SH		SOLE		190,845	0	0
CHAMBERS STR PPTYS	COM	157842105	4,469	575,100	SH		SOLE		575,100	0	0
CHATHAM LODGING TR	COM	16208T102	1,276	63,127	SH		SOLE		63,127	0	0
CHESAPEAKE LODGING TR	SH BEN INT	165240102	3,158	122,752	SH		SOLE		122,752	0	0
COLUMBIA PPTY TR INC	COM NEW	198287203	8,204	301,070	SH		SOLE		301,070	0	0
COMMONWEALTH REIT	COM SH BEN INT	203233101	7,459	283,628	SH		SOLE		283,628	0	0
CORESITE RLTY CORP	COM	21870Q105	1,632	52,653	SH		SOLE		52,653	0	0
CORPORATE OFFICE PPTYS TR	SH BEN INT	22002T108	5,321	199,743	SH		SOLE		199,743	0	0
CORRECTIONS CORP AMER NEW	COM NEW	22025Y407	8,335	266,110	SH		SOLE		266,110	0	0
COUSINS PPTYS INC	COM	222795106	4,920	428,916	SH		SOLE		428,916	0	0
CROWN CASTLE INTL CORP	COM	228227104	59,494	806,370	SH		SOLE		806,370	0	0
CUBESMART	COM	229663109	5,807	338,420	SH		SOLE		338,420	0	0
CYRUSONE INC	COM	23283R100	923	44,330	SH		SOLE		44,330	0	0
DCT INDUSTRIAL TRUST INC	COM	233153105	6,062	769,310	SH		SOLE		769,310	0	0
DDR CORP	COM	23317H102	12,186	739,428	SH		SOLE		739,428	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	5,575	474,497	SH		SOLE		474,497	0	0
DIGITAL RLTY TR INC	COM	253868103	16,507	310,982	SH		SOLE		310,982	0	0
DOUGLAS EMMETT INC	COM	25960P109	8,652	318,784	SH		SOLE		318,784	0	0
DUKE REALTY CORP	COM NEW	264411505	13,288	787,186	SH		SOLE		787,186	0	0
DUPONT FABROS TECHNOLOGY INC	COM	26613Q106	3,799	157,836	SH		SOLE		157,836	0	0
EASTGROUP PPTY INC	COM	277276101	4,704	74,769	SH		SOLE		74,769	0	0
EDUCATION RLTY TR INC	COM	28140H104	2,744	278,001	SH		SOLE		278,001	0	0
EMPIRE ST RLTY TR INC	CL A	292104106	2,782	184,140	SH		SOLE		184,140	0	0
EPR PPTYS	COM SH BEN INT	26884U109	6,741	126,262	SH		SOLE		126,262	0	0
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	7,439	183,006	SH		SOLE		183,006	0	0
EQUITY ONE	COM	294752100	3,214	143,846	SH		SOLE		143,846	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	49,902	860,534	SH		SOLE		860,534	0	0
ESSEX PPTY TR INC	COM	297178105	15,864	93,289	SH		SOLE		93,289	0	0
EXCEL TR INC	COM	30068C109	1,414	111,535	SH		SOLE		111,535	0	0
EXTRA SPACE STORAGE INC	COM	30225T102	12,740	262,632	SH		SOLE		262,632	0	0
FEDERAL REALTY INVT TR	SH BEN INT NEW	313747206	18,584	161,996	SH		SOLE		161,996	0	0
FELCOR LODGING TR INC	COM	31430F101	2,719	300,775	SH		SOLE		300,775	0	0
FIRST INDUSTRIAL REALTY TRUS	COM	32054K103	5,167	267,453	SH		SOLE		267,453	0	0
FIRST POTOMAC RLTY TR	COM	33610F109	1,810	140,121	SH		SOLE		140,121	0	0
FRANKLIN STREET PPTYS CORP	COM	35471R106	2,684	212,979	SH		SOLE		212,979	0	0
GENERAL GROWTH PPTYS INC NEW	COM	370023103	26,756	1,216,169	SH		SOLE		1,216,169	0	0
GEO GROUP INC	COM	36159R103	5,418	168,060	SH		SOLE		168,060	0	0
GETTY RLTY CORP NEW	COM	374297109	1,201	63,598	SH		SOLE		63,598	0	0
GLADSTONE COML CORP	COM	376536108	590	34,020	SH		SOLE		34,020	0	0
GLIMCHER RLTY TR	SH BEN INT	379302102	3,533	352,282	SH		SOLE		352,282	0	0
GOVERNMENT PPTYS INCOME TR	COM SHS BEN INT	38376A103	3,270	129,747	SH		SOLE		129,747	0	0
GRAMERCY PPTY TR INC	COM	38489R100	719	139,420	SH		SOLE		139,420	0	0
HCP INC	COM	40414L109	42,359	1,092,009	SH		SOLE		1,092,009	0	0
HEALTH CARE REIT INC	COM	42217K106	41,725	700,079	SH		SOLE		700,079	0	0
HEALTHCARE RLTY TR	COM	421946104	5,623	232,832	SH		SOLE		232,832	0	0
HEALTHCARE TR AMER INC	CL A	42225P105	6,558	575,780	SH		SOLE		575,780	0	0
HERSHA HOSPITALITY TR	SH BEN INT A	427825104	2,435	417,633	SH		SOLE		417,633	0	0
HIGHWOODS PPTYS INC	COM	431284108	8,357	217,569	SH		SOLE		217,569	0	0
HOME PROPERTIES INC	COM	437306103	8,204	136,460	SH		SOLE		136,460	0	0
HOSPITALITY PPTYS TR	COM SH BEN INT	44106M102	10,291	358,310	SH		SOLE		358,310	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	36,367	1,796,784	SH		SOLE		1,796,784	0	0
HUDSON PAC PPTYS INC	COM	444097109	3,059	132,582	SH		SOLE		132,582	0	0
INLAND REAL ESTATE CORP	COM NEW	457461200	2,116	200,569	SH		SOLE		200,569	0	0
INVESTORS REAL ESTATE TR	SH BEN INT	461730103	2,254	251,031	SH		SOLE		251,031	0	0
ISHARES	U.S. REAL ES ETF	464287739	101,505	1,500,000	SH		SOLE		1,500,000	0	0
KILROY RLTY CORP	COM	49427F108	11,669	199,203	SH		SOLE		199,203	0	0
KIMCO RLTY CORP	COM	49446R109	21,446	980,153	SH		SOLE		980,153	0	0
KITE RLTY GROUP TR	COM	49803T102	1,872	311,933	SH		SOLE		311,933	0	0
LASALLE HOTEL PPTYS	COM SH BEN INT	517942108	7,915	252,802	SH		SOLE		252,802	0	0
LEXINGTON REALTY TRUST	COM	529043101	6,011	551,005	SH		SOLE		551,005	0	0
LIBERTY PPTY TR	SH BEN INT	531172104	13,019	352,240	SH		SOLE		352,240	0	0
LTC PPTYS INC	COM	502175102	3,168	84,176	SH		SOLE		84,176	0	0
MACERICH CO	COM	554382101	21,171	339,652	SH		SOLE		339,652	0	0
MACK CALI RLTY CORP	COM	554489104	4,337	208,613	SH		SOLE		208,613	0	0
MEDICAL PPTYS TRUST INC	COM	58463J304	5,021	392,567	SH		SOLE		392,567	0	0
MID-AMER APT CMNTYS INC	COM	59522J103	12,311	180,325	SH		SOLE		180,325	0	0
MONMOUTH REAL ESTATE INVT CO	CL A	609720107	908	95,137	SH		SOLE		95,137	0	0
NATIONAL HEALTH INVS INC	COM	63633D104	4,273	70,674	SH		SOLE		70,674	0	0
NATIONAL RETAIL PPTYS INC	COM	637417106	10,063	293,210	SH		SOLE		293,210	0	0
OMEGA HEALTHCARE INVS INC	COM	681936100	10,010	298,633	SH		SOLE		298,633	0	0
ONE LIBERTY PPTYS INC	COM	682406103	610	28,607	SH		SOLE		28,607	0	0
PARKWAY PPTYS INC	COM	70159Q104	3,120	170,969	SH		SOLE		170,969	0	0
PEBBLEBROOK HOTEL TR	COM	70509V100	5,261	155,777	SH		SOLE		155,777	0	0
PENNSYLVANIA RL ESTATE INVT	SH BEN INT	709102107	2,873	159,145	SH		SOLE		159,145	0	0
PHYSICIANS RLTY TR	COM	71943U104	667	47,950	SH		SOLE		47,950	0	0
PIEDMONT OFFICE REALTY TR IN	COM CL A	720190206	6,334	369,322	SH		SOLE		369,322	0	0
PLUM CREEK TIMBER CO INC	COM	729251108	17,965	427,327	SH		SOLE		427,327	0	0
POST PPTYS INC	COM	737464107	6,424	130,833	SH		SOLE		130,833	0	0
POTLATCH CORP NEW	COM	737630103	3,508	90,658	SH		SOLE		90,658	0	0
PROLOGIS INC	COM	74340W103	49,141	1,203,551	SH		SOLE		1,203,551	0	0
PS BUSINESS PKS INC CALIF	COM	69360J107	4,070	48,670	SH		SOLE		48,670	0	0
PUBLIC STORAGE	COM	74460D109	58,206	345,459	SH		SOLE		345,459	0	0
RAMCO-GERSHENSON PPTYS TR	COM SH BEN INT	751452202	2,599	159,440	SH		SOLE		159,440	0	0
RAYONIER INC	COM	754907103	14,023	305,439	SH		SOLE		305,439	0	0
REALTY INCOME CORP	COM	756109104	20,499	501,694	SH		SOLE		501,694	0	0
REGENCY CTRS CORP	COM	758849103	11,268	220,678	SH		SOLE		220,678	0	0
RETAIL OPPORTUNITY INVTS COR	COM	76131N101	2,571	172,106	SH		SOLE		172,106	0	0
RETAIL PPTYS AMER INC	CL A	76131V202	6,058	447,385	SH		SOLE		447,385	0	0
REXFORD INDL RLTY INC	COM	76169C100	564	39,760	SH		SOLE		39,760	0	0
RLJ LODGING TR	COM	74965L101	7,985	298,624	SH		SOLE		298,624	0	0
ROUSE PPTYS INC	COM	779287101	1,516	87,913	SH		SOLE		87,913	0	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	4,966	116,800	SH		SOLE		116,800	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	2,565	91,983	SH		SOLE		91,983	0	0
SAUL CTRS INC	COM	804395101	1,446	30,526	SH		SOLE		30,526	0	0
SELECT INCOME REIT	COM SH BEN INT	81618T100	1,956	64,630	SH		SOLE		64,630	0	0
SENIOR HSG PPTYS TR	SH BEN INT	81721M109	10,172	452,687	SH		SOLE		452,687	0	0
SILVER BAY RLTY TR CORP	COM	82735Q102	1,429	92,060	SH		SOLE		92,060	0	0
SIMON PPTY GROUP INC NEW	COM	828806109	124,351	758,236	SH		SOLE		758,236	0	0
SL GREEN RLTY CORP	COM	78440X101	23,011	228,695	SH		SOLE		228,695	0	0
SOVRAN SELF STORAGE INC	COM	84610H108	5,715	77,809	SH		SOLE		77,809	0	0
SPIRIT RLTY CAP INC NEW	COM	84860W102	9,485	863,871	SH		SOLE		863,871	0	0
STAG INDL INC	COM	85254J102	2,595	107,690	SH		SOLE		107,690	0	0
STARWOOD WAYPOINT RESIDENTL	COM SHS	85571W109	2,735	95,000	SH		SOLE		95,000	0	0
STRATEGIC HOTELS & RESORTS I	COM	86272T106	4,157	407,969	SH		SOLE		407,969	0	0
SUMMIT HOTEL PPTYS	COM	866082100	1,852	199,598	SH		SOLE		199,598	0	0
SUN CMNTYS INC	COM	866674104	4,216	93,496	SH		SOLE		93,496	0	0
SUNSTONE HOTEL INVS INC NEW	COM	867892101	6,102	444,456	SH		SOLE		444,456	0	0
TANGER FACTORY OUTLET CTRS I	COM	875465106	7,995	228,434	SH		SOLE		228,434	0	0
TAUBMAN CTRS INC	COM	876664103	10,841	153,149	SH		SOLE		153,149	0	0
TERRENO RLTY CORP	COM	88146M101	1,118	59,134	SH		SOLE		59,134	0	0
U M H PROPERTIES INC	COM	903002103	310	31,724	SH		SOLE		31,724	0	0
UDR INC	COM	902653104	15,652	605,961	SH		SOLE		605,961	0	0
UNIVERSAL HEALTH RLTY INCM T	SH BEN INT	91359E105	1,295	30,658	SH		SOLE		30,658	0	0
URSTADT BIDDLE PPTYS INC	CL A	917286205	1,215	58,833	SH		SOLE		58,833	0	0
VENTAS INC	COM	92276F100	43,048	710,718	SH		SOLE		710,718	0	0
VORNADO RLTY TR	SH BEN INT	929042109	39,802	403,833	SH		SOLE		403,833	0	0
W P CAREY INC	COM	92936U109	12,279	204,410	SH		SOLE		204,410	0	0
WASHINGTON REAL ESTATE INVT	SH BEN INT	939653101	3,820	159,977	SH		SOLE		159,977	0	0
WEINGARTEN RLTY INVS	SH BEN INT	948741103	7,933	264,440	SH		SOLE		264,440	0	0
WEYERHAEUSER CO	COM	962166104	41,270	1,406,138	SH		SOLE		1,406,138	0	0
WHITESTONE REIT	COM	966084204	735	50,900	SH		SOLE		50,900	0	0
WINTHROP RLTY TR	SH BEN INT NEW	976391300	930	80,257	SH		SOLE		80,257	0	0
ALEXANDERS INC	COM	014752109	1,823	5,049	SH		SOLE		5,049	0	0
ALEXANDRIA REAL ESTATE EQ IN	COM	015271109	12,494	172,187	SH		SOLE		172,187	0	0
CIT GROUP INC	COM NEW	125581801	2,659	54,250	SH		SOLE		54,250	0	0
CALPINE CORP	COM NEW	131347304	46,592	2,228,216	SH		SOLE		2,228,216	0	0
COTY INC	COM CL A	222070203	1,285	85,796	SH		SOLE		85,796	0	0
FEDERAL MOGUL CORP	COM	313549404	39,628	2,118,016	SH		SOLE		2,118,016	0	0
MARKEL CORP	COM	570535104	19,429	32,594	SH		SOLE		32,594	0	0
AKAMAI TECHNOLOGIES INC	COM	00971T101	23,234	399,143	SH		SOLE		399,143	0	0
AMERICAN AIRLS GROUP INC	COM	02376R102	10,784	294,650	SH		SOLE		294,650	0	0
BOISE CASCADE CO DEL	COM	09739D100	1,361	47,538	SH		SOLE		47,538	0	0
EVERBANK FINL CORP	COM	29977G102	5,574	282,527	SH		SOLE		282,527	0	0
GENERAL MTRS CO	COM	37045V100	419	12,175	SH		SOLE		12,175	0	0
GRACE W R & CO DEL NEW	COM	38388F108	8,214	82,824	SH		SOLE		82,824	0	0
LEVEL 3 COMMUNICATIONS INC	COM NEW	52729N308	16,405	419,142	SH		SOLE		419,142	0	0
NUANCE COMMUNICATIONS INC	COM	67020Y100	1,543	89,850	SH		SOLE		89,850	0	0
TIME WARNER CABLE INC	COM	88732J207	28,114	204,939	SH		SOLE		204,939	0	0
PARTNERRE LTD	COM	G6852T105	21,375	206,518	SH		SOLE		206,518	0	0
TRONOX LTD	SHS CL A	Q9235V101	5,911	248,690	SH		SOLE		248,690	0	0
RSP PERMIAN INC	COM	74978Q105	312,492	10,816,626	SH		SOLE		10,816,626	0	0
TRIANGLE PETE CORP	COM NEW	89600B201	93,524	11,350,000	SH		SOLE		11,350,000	0	0