Pruco Life Variable Contract Real Property Account POS AM 31 Mar 17 Prospectus update (post-effective amendment) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2016
Document And Entity Information [Abstract]
Document Type	S1
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Entity Registrant Name	PRUCO LIFE VARIABLE CONTRACT REAL PROPERTY ACCOUNT
Entity Central Index Key	801,348
Entity Filer Category	Non-accelerated Filer

STATEMENTS OF NET ASSETS

STATEMENTS OF NET ASSETS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Investment in The Prudential Variable Contract Real Property Partnership	$ 112,083,448	$ 106,651,649
Net Assets	112,083,448	106,651,649
NET ASSETS, representing:
Equity of contract owners	81,138,039	80,863,412
Equity of Pruco Life Insurance Company	30,945,409	25,788,237
Net Assets	$ 112,083,448	$ 106,651,649
Portfolio shares held (in shares)	2,414,615	2,414,615
Portfolio net asset value per share (in dollars per share)	$ 46.42	$ 44.17
Contract owner units outstanding (in shares)	20,921,375	21,797,579

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
INVESTMENT INCOME
Net investment income allocated from The Prudential Variable Contract Real Property Partnership	$ 3,841,585	$ 3,237,254	$ 3,663,035
EXPENSES
Charges to contract owners for assuming mortality and expense risk and for administration	481,549	470,364	454,070
NET INVESTMENT INCOME	3,360,036	2,766,890	3,208,965
NET RECOGNIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net unrealized gain (loss) on investments allocated from The Prudential Variable Contract Real Property Partnership	1,727,205	5,666,123	2,968,823
Net recognized gain (loss) on investments allocated from The Prudential Variable Contract Real Property Partnership	(136,991)	67,194	255,627
NET GAIN (LOSS) ON INVESTMENTS	1,590,214	5,733,317	3,224,450
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$ 4,950,250	$ 8,500,207	$ 6,433,415

STATEMENTS OF CHANGES IN NET AS

STATEMENTS OF CHANGES IN NET ASSETS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
OPERATIONS
Net investment income	$ 3,360,036	$ 2,766,890	$ 3,208,965
Net unrealized gain (loss) on investments allocated from The Prudential Variable Contract Real Property Partnership	1,727,205	5,666,123	2,968,823
Net recognized gain (loss) on investments allocated from The Prudential Variable Contract Real Property Partnership	(136,991)	67,194	255,627
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	4,950,250	8,500,207	6,433,415
CAPITAL TRANSACTIONS
Net contributions (withdrawals) by contract owners	(3,274,882)	(2,788,759)	(2,664,764)
Net contributions (withdrawals) by Pruco Life Insurance Company	3,756,431	266,935	(2,886,417)
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL TRANSACTIONS	481,549	(2,521,824)	(5,551,181)
TOTAL INCREASE (DECREASE) IN NET ASSETS	5,431,799	5,978,383	882,234
NET ASSETS
Beginning of year	106,651,649	100,673,266	99,791,032
End of year	$ 112,083,448	$ 106,651,649	$ 100,673,266

General

General	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
General	General Pruco Life Variable Contract Real Property Account (the “Real Property Account” or the “Registrant”) was established on August 27, 1986 by resolution of the Board of Directors of Pruco Life Insurance Company (“Pruco Life” or the “Company”), as a separate investment account pursuant to Arizona law and is registered under the Securities Act of 1933, as amended. Pruco Life is a wholly-owned subsidiary of The Prudential Insurance Company of America (“Prudential”), which is a wholly-owned subsidiary of Prudential Financial, Inc. (“Prudential Financial”). The assets of the Real Property Account are segregated from Pruco Life’s other assets. The Real Property Account is used to fund benefits under certain variable life insurance and variable annuity contracts issued by Pruco Life. These products are Variable Appreciable Life (“VAL”), Variable Life Insurance (“VLI”), Discovery Plus (“SPVA”), and Discovery Life Plus (“SPVL”). The assets of the Real Property Account are invested in The Prudential Variable Contract Real Property Partnership (the “Partnership”). The Partnership is the investment vehicle for assets allocated to the real estate investment option under certain variable life insurance and variable annuity contracts. The Real Property Account, along with the Pruco Life Variable Contract Real Property Account and the Pruco Life of New Jersey Variable Contract Real Property Account, are the sole investors in the Partnership. These financial statements should be read in conjunction with the accompanying audited consolidated financial statements of the Partnership. The Partnership has a policy of investing at least 65% of its assets in direct ownership interests in income-producing real estate and participating mortgage loans.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies A. Basis of Accounting The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Real Property Account has evaluated subsequent events through the date these financial statements were issued. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include valuation of the investment in the Partnership. B. Investment in Partnership Interest The investment in the Partnership is based on the Real Property Account’s proportionate interest of the Partnership’s fair value. At December 31, 2016 and 2015 , the Real Property Account’s share of the general partners' controlling interest of the Partnership was 53.3% or 2,414,615 shares for both periods. Properties owned by the Partnership are illiquid and their fair value is based on estimated fair value as disclosed in the notes to the consolidated financial statements of the Partnership. C. Income Recognition Net investment income or loss, and recognized and unrealized gains and losses are allocated based upon the monthly average net assets for the investment in the Partnership. Amounts are based on the Real Property Account’s proportionate interest in the Partnership. D. Equity of Pruco Life Insurance Company Pruco Life maintains a position in the Real Property Account for liquidity purposes, including unit purchases and redemptions, Partnership share transactions, and expense processing. The position does not affect contract owners’ accounts or the related unit values. There were no cash transactions at the Real Property Account level for the years ended December 31, 2016 , 2015 and 2014 as all of the transactions are settled by Pruco Life on behalf of the Real Property Account through a redemption or an issuance of units. Therefore, no statement of cash flows is presented for the years ended December 31, 2016 , 2015 and 2014 .

Taxes

Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Taxes	Taxes Pruco Life is taxed as a “life insurance company”, as defined by the Internal Revenue Code. The results of operations of the Real Property Account form a part of Prudential Financial’s consolidated federal tax return. Under current federal, state and local law, no federal, state or local income taxes are payable by the Real Property Account. As such, no provision for the tax liability has been recorded in these financial statements. Prudential management will review periodically the status of the policy in the event of changes in the tax law.

Net Contributions (Withdrawals)

Net Contributions (Withdrawals) by Contract Owners	12 Months Ended
	Dec. 31, 2016
Net Contributions Withdrawals By Contract Owners [Abstract]
Net Contributions (Withdrawals) by Contract Owners	Net Contributions (Withdrawals) by Contract Owners Net contributions (withdrawals) by contract owners for the Real Property Account by product for the years ended December 31, 2016 , 2015 and 2014 were as follows: December 31, 2016 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,338,494 $ 169,976 $ — $ — $ 2,508,470 Policy loans (944,232 ) (46,919 ) — (17,701 ) (1,008,852 ) Policy loan repayments and interest 1,661,227 64,768 — 56,677 1,782,672 Surrenders, withdrawals and death benefits (3,129,243 ) (215,582 ) (15,032 ) (377,463 ) (3,737,320 ) Net transfers from/(to) other subaccounts or fixed rate option (653,809 ) (118,820 ) — (1,818 ) (774,447 ) Administrative and other charges (1,860,803 ) (172,386 ) — (12,216 ) (2,045,405 ) $ (2,588,366 ) $ (318,963 ) $ (15,032 ) $ (352,521 ) $ (3,274,882 ) December 31, 2015 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,378,436 $ 179,650 $ — $ — $ 2,558,086 Policy loans (1,049,046 ) (54,592 ) — (32,732 ) (1,136,370 ) Policy loan repayments and interest 1,906,719 85,486 — 155,308 2,147,513 Surrenders, withdrawals and death benefits (3,459,721 ) (246,562 ) (3,818 ) (341,541 ) (4,051,642 ) Net transfers from/(to) other subaccounts or fixed rate option (301,500 ) (19,143 ) — 387 (320,256 ) Administrative and other charges (1,801,533 ) (170,547 ) — (14,010 ) (1,986,090 ) $ (2,326,645 ) $ (225,708 ) $ (3,818 ) $ (232,588 ) $ (2,788,759 ) December 31, 2014 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,337,323 $ 188,174 $ — $ — $ 2,525,497 Policy loans (977,555 ) (61,239 ) — (52,460 ) (1,091,254 ) Policy loan repayments and interest 1,799,917 130,567 — 37,903 1,968,387 Surrenders, withdrawals and death benefits (2,901,725 ) (257,524 ) (6,537 ) (123,826 ) (3,289,612 ) Net transfers from/(to) other subaccounts or fixed rate option (818,189 ) (34,163 ) — 37,970 (814,382 ) Administrative and other charges (1,784,351 ) (164,272 ) — (14,777 ) (1,963,400 ) $ (2,344,580 ) $ (198,457 ) $ (6,537 ) $ (115,190 ) $ (2,664,764 )

Partnership Distributions

Partnership Distributions	12 Months Ended
	Dec. 31, 2016
Partnership Distributions [Abstract]
Partnership Distributions	Partnership Distributions For the year ended December 31, 2016 , the Partnership made no distribution. For the year ended December 31, 2015 , the Partnership distributed a total of $5.0 million , which occurred on March 30, 2015. The Real Property Account’s share of this distribution was $3.0 million . For the year ended December 31, 2014 , the Partnership distributed $10.0 million , which occurred on March 26, 2014 and September 26, 2014, for $5.0 million each. The Real Property Account’s share of these distributions was $3.0 million each or a total of $6.0 million . For the years ended December 31, 2016 , 2015 and 2014 , there were no purchases of the Partnership by the Real Property Account.

Unit Activity

Unit Activity	12 Months Ended
	Dec. 31, 2016
Unit Activity [Abstract]
Unit Activity	Unit Activity The changes in contract owner units outstanding for the Real Property Account by product for the years ended December 31, 2016 , 2015 and 2014 were as follows: December 31, 2016 VAL VLI SPVA SPVL TOTAL Units issued: 1,165,418 58,137 — 28,371 1,251,926 Units redeemed: (1,845,103 ) (136,180 ) (4,825 ) (142,022 ) (2,128,130 ) December 31, 2015 VAL VLI SPVA SPVL TOTAL Units issued: 1,255,793 72,499 — 53,463 1,381,755 Units redeemed: (1,909,609 ) (131,498 ) (1,278 ) (132,521 ) (2,174,906 ) December 31, 2014 VAL VLI SPVA SPVL TOTAL Units issued: 1,318,863 91,072 — 34,004 1,443,939 Units redeemed: (2,027,393 ) (147,359 ) (2,403 ) (76,001 ) (2,253,156 )

Financial Highlights

Financial Highlights	12 Months Ended
	Dec. 31, 2016
Financial Highlights [Abstract]
Financial Highlights	Financial Highlights Pruco Life sells a number of variable annuity and variable life insurance products. These products have unique combinations of features and fees that are charged against the contract owner’s account balance. Differences in the fee structures result in a variety of unit values, expense ratios and total returns. The following table was developed by determining which products offered by Pruco Life have the lowest and highest total expense ratio and reflects contract owner units only. The table may not reflect the minimum and maximum contract charges offered by Pruco Life as contract owners may not have selected all available and applicable products as disclosed in Note 1. Units (000’s) Unit Value Lowest- Highest Net Assets (000’s) Investment Income Ratio (1) Expense Ratio (2) Lowest-Highest Total Return (3) Lowest-Highest December 31, 2016 20,921 $ 3.19050 — $ 4.17877 $ 81,138 3.51 % 0.35% — 1.25% 3.80% — 4.73% December 31, 2015 21,798 $ 3.07375 — $ 3.99015 $ 80,863 3.16 % 0.35% — 1.25% 7.78% — 8.74% December 31, 2014 22,591 $ 2.85193 — $ 3.66932 $ 77,231 3.68 % 0.35% — 1.25% 5.82% — 6.77% December 31, 2013 23,400 $ 2.69505 — $ 3.43650 $ 75,103 5.04 % 0.35% — 1.25% 8.19% — 9.17% December 31, 2012 (4) 24,124 $ 2.49097 — $ 3.14796 $ 71,085 4.84 % 0.35% — 1.25% 5.53% — 6.48% (1) This amount represents the contract owners' proportionate share of the net investment income from the underlying Partnership divided by the contract owners' average net assets of the Real Property Account. This ratio excludes those expenses, such as mortality risk and expense risk and administrative expenses that result in direct reductions in the unit values. (2) These amounts represent the annualized contract expenses of the Real Property Account, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Partnership are excluded. (3) These amounts represent the total return for the periods indicated, including changes in the value of the underlying Partnership, and reflect deductions for all items included in the expense ratio. The total return does not include any expense assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. (4) In the December 31, 2012 financial statements, the Real Property Account revised certain financial statement footnote disclosures due to a typographical error. The range of contract owner unit values in Note 8 to the December 31, 2012 financial statements was presented as $2.30961 to $2.63416 . The correct amounts are shown in the table above. These revisions had no impact on the statements of net assets, operations or changes in net assets. The revisions are not considered material to the previously issued financial statements. Note 7: Financial Highlights (continued) Pruco Life also maintains a position in the Real Property Account, to provide for property acquisitions and capital expenditure funding needs. The table below reflects information for assets held by Pruco Life. Charges for mortality risk and expense risk and administrative expenses are used by Pruco Life to purchase additional investments in its account resulting in no impact to its net assets. Net Assets (000’s) December 31, 2016 $30,945 December 31, 2015 $25,788 December 31, 2014 $23,442 December 31, 2013 $24,688 December 31, 2012 $25,731 Charges and Expenses A. Mortality Risk and Expense Risk Charges Mortality risk and expense risk charges are determined daily using an effective annual rate of 0.6% , 0.35% , 0.9% and 0.9% for VAL, VLI, SPVA and SPVL, respectively. Mortality risk is the risk that life insurance contract owners may not live as long as estimated or annuitants may live longer than estimated and expense risk is the risk that the cost of issuing and administering the contracts may exceed related charges by Pruco Life. The mortality risk and expense risk charges are assessed through reduction in unit values. B. Administrative Charges Administrative charges are determined daily using an effective annual rate of 0.35% applied daily against the net assets representing equity of contract owners held in each subaccount for SPVA and SPVL. Administrative charges include costs associated with issuing the contract, establishing and maintaining records, and providing reports to contract owners. The administrative charge is assessed through reduction in unit values. C. Cost of Insurance and Other Related Charges Contract owner contributions are subject to certain deductions prior to being invested in the Real Property Account. The deductions for VAL and VLI are (1) taxes attributable to premiums; (2) sales charges, not to exceed 5% for VAL, which are deducted in order to compensate Pruco Life for the cost of selling the contract; and (3) transaction costs, applicable to VAL, which are deducted from each premium payment to cover premium collection and processing costs. Contracts are subject to charges on each basic premium for assuming a guaranteed minimum death benefit risk. This charge compensates Pruco Life for the risk that an insured may die at a time when the death benefit exceeds the benefit that would have been payable in the absence of a minimum guarantee. These charges are assessed through the redemption of units. D. Deferred Sales Charge For SPVA, there is a deferred sales charge that applies at the time of a full or partial withdrawal, and the amount of the charge (which declines over time) depends on the number of years that have elapsed since the contract was issued. This deferred sales charge is assessed through the redemption of units. E. Partial Withdrawal Charge A charge is imposed by Pruco Life on partial withdrawals of the cash surrender value for VAL. A charge equal to the lesser of $15 or 2% will be made in connection with each partial withdrawal of the cash surrender value of a contract. This charge is assessed through the redemption of units.

Related Party

Related Party	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party	Related Party The Real Property Account has transactions and relationships with Prudential and other affiliates. Due to these relationships, it is possible that the terms of these transactions are not the same as those that would result from transactions among unrelated parties. Prudential and its affiliates perform various services on behalf of the Partnership in which the Real Property Account invests and may receive fees for the services performed. These services include, among other things, shareholder communications, postage, transfer agency and various other record keeping and customer service functions.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value represents the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Real Property Account values its investment in the Partnership using the net asset value provided by the Partnership as a practical expedient. Effective January 1, 2016, the Real Property Account adopted Accounting Standards Update (“ASU”) 2015-07 Fair Value Measurement (Topic 820): Disclosure for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent) , which removes the requirement to classify the investment in the Partnership in the fair value hierarchy. As a result, certain tables and additional disclosures related to the leveling of assets and liabilities are no longer applicable. ASU 2015-07 was applied retrospectively to all periods presented. Properties owned by the Partnership are illiquid and fair value is based on estimates from property appraisal reports prepared by independent real estate appraisers as discussed in the notes to the Partnership’s audited consolidated financial statements. The purpose of an appraisal is to estimate the fair value of real estate as of a specific date. The estimate of fair value of real estate is based on the conventional approaches to value, all of which require the exercise of subjective judgment. The three approaches are: (1) current cost of reproducing the real estate less deterioration and functional and economic obsolescence; (2) discounting a series of income streams and reversion at a specific yield or by directly capitalizing a single year income estimate by an appropriate factor; and (3) value indicated by recent sales of comparable real estate in the market. In the reconciliation of these three approaches, the independent appraiser uses one or a combination of them, to come up with the approximate value for the type of real estate in the market. The following is a summary of the investment strategy, risks, and redemption provisions of the Partnership. The Partnership has a policy of investing at least 65% of its assets in direct ownership interests in income-producing real estate, such as office buildings, shopping centers, hotels, apartments or industrial properties, and participating mortgage loans. The Partnership is subject to the risks inherent in the ownership of real property such as fluctuations in occupancy rates and operating expenses and variations in rental schedules. The Partnership properties are also subject to the risk of loss due to certain types of damage, which are either uninsurable or not economically insurable. The Partnership enters into loan agreements with certain lenders to finance its real estate investment transactions. Unfavorable economic conditions could increase related borrowing costs, limit access to the capital markets or result in a decision by lenders not to extend credit to the Partnership. Refer to the Partnership’s audited consolidated financial statements for other related risks. The Partnership allows for withdrawal of cash, in any amount up to a partner’s value of the Partnership. Ordinarily payment of the amount requested will be made on the day following the request. The Partnership reserves the right to defer such payments for a period of up to six months if the partners or the investment manager determine that there is insufficient cash available and prompt disposition of investments held by the Partnership cannot be made on commercially reasonable terms. The Real Property Account had no unfunded capital commitments as of December 31, 2016.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Basis of Accounting	Basis of Accounting The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The Real Property Account has evaluated subsequent events through the date these financial statements were issued.
Use of Estimates	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most significant estimates include valuation of the investment in the Partnership.
Investment in Partnership Interest	Investment in Partnership Interest The investment in the Partnership is based on the Real Property Account’s proportionate interest of the Partnership’s fair value. At December 31, 2016 and 2015 , the Real Property Account’s share of the general partners' controlling interest of the Partnership was 53.3% or 2,414,615 shares for both periods. Properties owned by the Partnership are illiquid and their fair value is based on estimated fair value as disclosed in the notes to the consolidated financial statements of the Partnership.
Income Recognition	Income Recognition Net investment income or loss, and recognized and unrealized gains and losses are allocated based upon the monthly average net assets for the investment in the Partnership. Amounts are based on the Real Property Account’s proportionate interest in the Partnership.
Equity of Pruco Life Insurance Company	Equity of Pruco Life Insurance Company Pruco Life maintains a position in the Real Property Account for liquidity purposes, including unit purchases and redemptions, Partnership share transactions, and expense processing. The position does not affect contract owners’ accounts or the related unit values.

Net Contributions (Withdrawal15

Net Contributions (Withdrawals) by Contract Owners (Tables)	12 Months Ended
	Dec. 31, 2016
Net Contributions Withdrawals By Contract Owners [Abstract]
Schedule of Net Contributions (Withdrawals) by Contract Owners	Net contributions (withdrawals) by contract owners for the Real Property Account by product for the years ended December 31, 2016 , 2015 and 2014 were as follows: December 31, 2016 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,338,494 $ 169,976 $ — $ — $ 2,508,470 Policy loans (944,232 ) (46,919 ) — (17,701 ) (1,008,852 ) Policy loan repayments and interest 1,661,227 64,768 — 56,677 1,782,672 Surrenders, withdrawals and death benefits (3,129,243 ) (215,582 ) (15,032 ) (377,463 ) (3,737,320 ) Net transfers from/(to) other subaccounts or fixed rate option (653,809 ) (118,820 ) — (1,818 ) (774,447 ) Administrative and other charges (1,860,803 ) (172,386 ) — (12,216 ) (2,045,405 ) $ (2,588,366 ) $ (318,963 ) $ (15,032 ) $ (352,521 ) $ (3,274,882 ) December 31, 2015 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,378,436 $ 179,650 $ — $ — $ 2,558,086 Policy loans (1,049,046 ) (54,592 ) — (32,732 ) (1,136,370 ) Policy loan repayments and interest 1,906,719 85,486 — 155,308 2,147,513 Surrenders, withdrawals and death benefits (3,459,721 ) (246,562 ) (3,818 ) (341,541 ) (4,051,642 ) Net transfers from/(to) other subaccounts or fixed rate option (301,500 ) (19,143 ) — 387 (320,256 ) Administrative and other charges (1,801,533 ) (170,547 ) — (14,010 ) (1,986,090 ) $ (2,326,645 ) $ (225,708 ) $ (3,818 ) $ (232,588 ) $ (2,788,759 ) December 31, 2014 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,337,323 $ 188,174 $ — $ — $ 2,525,497 Policy loans (977,555 ) (61,239 ) — (52,460 ) (1,091,254 ) Policy loan repayments and interest 1,799,917 130,567 — 37,903 1,968,387 Surrenders, withdrawals and death benefits (2,901,725 ) (257,524 ) (6,537 ) (123,826 ) (3,289,612 ) Net transfers from/(to) other subaccounts or fixed rate option (818,189 ) (34,163 ) — 37,970 (814,382 ) Administrative and other charges (1,784,351 ) (164,272 ) — (14,777 ) (1,963,400 ) $ (2,344,580 ) $ (198,457 ) $ (6,537 ) $ (115,190 ) $ (2,664,764 )

Unit Activity (Tables)

Unit Activity (Tables)	12 Months Ended
	Dec. 31, 2016
Unit Activity [Abstract]
Schedule Of Units Of Partnership Interest	The changes in contract owner units outstanding for the Real Property Account by product for the years ended December 31, 2016 , 2015 and 2014 were as follows: December 31, 2016 VAL VLI SPVA SPVL TOTAL Units issued: 1,165,418 58,137 — 28,371 1,251,926 Units redeemed: (1,845,103 ) (136,180 ) (4,825 ) (142,022 ) (2,128,130 ) December 31, 2015 VAL VLI SPVA SPVL TOTAL Units issued: 1,255,793 72,499 — 53,463 1,381,755 Units redeemed: (1,909,609 ) (131,498 ) (1,278 ) (132,521 ) (2,174,906 ) December 31, 2014 VAL VLI SPVA SPVL TOTAL Units issued: 1,318,863 91,072 — 34,004 1,443,939 Units redeemed: (2,027,393 ) (147,359 ) (2,403 ) (76,001 ) (2,253,156 )

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2016
Financial Highlights [Abstract]
Schedule of Financial Highlights	The table below reflects information for assets held by Pruco Life. Charges for mortality risk and expense risk and administrative expenses are used by Pruco Life to purchase additional investments in its account resulting in no impact to its net assets. Net Assets (000’s) December 31, 2016 $30,945 December 31, 2015 $25,788 December 31, 2014 $23,442 December 31, 2013 $24,688 December 31, 2012 $25,731 The following table was developed by determining which products offered by Pruco Life have the lowest and highest total expense ratio and reflects contract owner units only. The table may not reflect the minimum and maximum contract charges offered by Pruco Life as contract owners may not have selected all available and applicable products as disclosed in Note 1. Units (000’s) Unit Value Lowest- Highest Net Assets (000’s) Investment Income Ratio (1) Expense Ratio (2) Lowest-Highest Total Return (3) Lowest-Highest December 31, 2016 20,921 $ 3.19050 — $ 4.17877 $ 81,138 3.51 % 0.35% — 1.25% 3.80% — 4.73% December 31, 2015 21,798 $ 3.07375 — $ 3.99015 $ 80,863 3.16 % 0.35% — 1.25% 7.78% — 8.74% December 31, 2014 22,591 $ 2.85193 — $ 3.66932 $ 77,231 3.68 % 0.35% — 1.25% 5.82% — 6.77% December 31, 2013 23,400 $ 2.69505 — $ 3.43650 $ 75,103 5.04 % 0.35% — 1.25% 8.19% — 9.17% December 31, 2012 (4) 24,124 $ 2.49097 — $ 3.14796 $ 71,085 4.84 % 0.35% — 1.25% 5.53% — 6.48% (1) This amount represents the contract owners' proportionate share of the net investment income from the underlying Partnership divided by the contract owners' average net assets of the Real Property Account. This ratio excludes those expenses, such as mortality risk and expense risk and administrative expenses that result in direct reductions in the unit values. (2) These amounts represent the annualized contract expenses of the Real Property Account, consisting primarily of mortality and expense charges, for each period indicated. These ratios include only those expenses that result in a direct reduction to unit values. Charges made directly to contract owner accounts through the redemption of units and expenses of the underlying Partnership are excluded. (3) These amounts represent the total return for the periods indicated, including changes in the value of the underlying Partnership, and reflect deductions for all items included in the expense ratio. The total return does not include any expense assessed through the redemption of units; inclusion of these expenses in the calculation would result in a reduction in the total return presented. (4) In the December 31, 2012 financial statements, the Real Property Account revised certain financial statement footnote disclosures due to a typographical error. The range of contract owner unit values in Note 8 to the December 31, 2012 financial statements was presented as $2.30961 to $2.63416 . The correct amounts are shown in the table above. These revisions had no impact on the statements of net assets, operations or changes in net assets. The revisions are not considered material to the previously issued financial statements.

General (Details)

General (Details)	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Minimum percent of partnership assets invested in direct ownership interests	65.00%

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Details) - shares	Dec. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Percent of interest in the General Partners Controlling Interest	53.30%	53.30%
Interest in the General Partners Controlling Interest (in shares)	2,414,615	2,414,615

Net Contributions (Withdrawal20

Net Contributions (Withdrawals) by Contract Owners (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net Contributions Withdrawals By Contract Owners [Line Items]
Contract owner net payments	$ 2,508,470	$ 2,558,086	$ 2,525,497
Policy loans	(1,008,852)	(1,136,370)	(1,091,254)
Policy loan repayments and interest	1,782,672	2,147,513	1,968,387
Surrenders, withdrawals and death benefits	(3,737,320)	(4,051,642)	(3,289,612)
Net transfers from/(to) other subaccounts or fixed rate option	(774,447)	(320,256)	(814,382)
Administrative and other charges	(2,045,405)	(1,986,090)	(1,963,400)
Net Contributions (Withdrawals) by Contract Owners	(3,274,882)	(2,788,759)	(2,664,764)
VAL
Net Contributions Withdrawals By Contract Owners [Line Items]
Contract owner net payments	2,338,494	2,378,436	2,337,323
Policy loans	(944,232)	(1,049,046)	(977,555)
Policy loan repayments and interest	1,661,227	1,906,719	1,799,917
Surrenders, withdrawals and death benefits	(3,129,243)	(3,459,721)	(2,901,725)
Net transfers from/(to) other subaccounts or fixed rate option	(653,809)	(301,500)	(818,189)
Administrative and other charges	(1,860,803)	(1,801,533)	(1,784,351)
Net Contributions (Withdrawals) by Contract Owners	(2,588,366)	(2,326,645)	(2,344,580)
VLI
Net Contributions Withdrawals By Contract Owners [Line Items]
Contract owner net payments	169,976	179,650	188,174
Policy loans	(46,919)	(54,592)	(61,239)
Policy loan repayments and interest	64,768	85,486	130,567
Surrenders, withdrawals and death benefits	(215,582)	(246,562)	(257,524)
Net transfers from/(to) other subaccounts or fixed rate option	(118,820)	(19,143)	(34,163)
Administrative and other charges	(172,386)	(170,547)	(164,272)
Net Contributions (Withdrawals) by Contract Owners	(318,963)	(225,708)	(198,457)
SPVA
Net Contributions Withdrawals By Contract Owners [Line Items]
Contract owner net payments	0	0	0
Policy loans	0	0	0
Policy loan repayments and interest	0	0	0
Surrenders, withdrawals and death benefits	(15,032)	(3,818)	(6,537)
Net transfers from/(to) other subaccounts or fixed rate option	0	0	0
Administrative and other charges	0	0	0
Net Contributions (Withdrawals) by Contract Owners	(15,032)	(3,818)	(6,537)
SPVL
Net Contributions Withdrawals By Contract Owners [Line Items]
Contract owner net payments	0	0	0
Policy loans	(17,701)	(32,732)	(52,460)
Policy loan repayments and interest	56,677	155,308	37,903
Surrenders, withdrawals and death benefits	(377,463)	(341,541)	(123,826)
Net transfers from/(to) other subaccounts or fixed rate option	(1,818)	387	37,970
Administrative and other charges	(12,216)	(14,010)	(14,777)
Net Contributions (Withdrawals) by Contract Owners	$ (352,521)	$ (232,588)	$ (115,190)

Partnership Distributions (Deta

Partnership Distributions (Details) - USD ($)	Mar. 30, 2015	Sep. 26, 2014	Mar. 26, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Partnership Distributions [Abstract]
Partnership distribution made	$ 5,000,000	$ 5,000,000	$ 5,000,000	$ 0	$ 5,000,000	$ 10,000,000
The Account's share of Partnership distribution	$ 3,000,000	$ 3,000,000	$ 3,000,000		$ 3,000,000	$ 6,000,000

Unit Activity (Details)

Unit Activity (Details) - Contract Owner - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Unit Activity [Line Items]
Units issued	1,251,926	1,381,755	1,443,939
Units redeemed	(2,128,130)	(2,174,906)	(2,253,156)
VAL
Unit Activity [Line Items]
Units issued	1,165,418	1,255,793	1,318,863
Units redeemed	(1,845,103)	(1,909,609)	(2,027,393)
VLI
Unit Activity [Line Items]
Units issued	58,137	72,499	91,072
Units redeemed	(136,180)	(131,498)	(147,359)
SPVA
Unit Activity [Line Items]
Units issued	0	0	0
Units redeemed	(4,825)	(1,278)	(2,403)
SPVL
Unit Activity [Line Items]
Units issued	28,371	53,463	34,004
Units redeemed	(142,022)	(132,521)	(76,001)

Financial Highlights (Details)

Financial Highlights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Financial Highlights [Line Items]
Units (in shares)	20,921,375	21,797,579
Net Assets	$ 112,083,448	$ 106,651,649	$ 100,673,266	$ 99,791,032
Company Net Assets
Financial Highlights [Line Items]
Net Assets	$ 30,945,000	$ 25,788,000	$ 23,442,000	$ 24,688,000	$ 25,731,000
Units
Financial Highlights [Line Items]
Units (in shares)	20,921,000	21,798,000	22,591,000	23,400,000	24,124,000
Net Assets
Financial Highlights [Line Items]
Net Assets	$ 81,138,000	$ 80,863,000	$ 77,231,000	$ 75,103,000	$ 71,085,000
Investment Income Ratio
Financial Highlights [Line Items]
Investment Income Ratio	3.51%	3.16%	3.68%	5.04%	4.84%
Minimum | Units
Financial Highlights [Line Items]
Units Value (in dollars per share)	$ 3.19050	$ 3.07375	$ 2.85193	$ 2.69505	$ 2.49097
Minimum | Units | Scenario, Previously Reported
Financial Highlights [Line Items]
Units Value (in dollars per share)					$ 2.30961
Minimum | Expense Ratio
Financial Highlights [Line Items]
Expense Ratio	0.35%	0.35%	0.35%	0.35%	0.35%
Minimum | Total Return
Financial Highlights [Line Items]
Total Return	3.80%	7.78%	5.82%	8.19%	5.53%
Maximum | Units
Financial Highlights [Line Items]
Units Value (in dollars per share)	$ 4.17877	$ 3.99015	$ 3.66932	$ 3.43650	$ 3.14796
Maximum | Units | Scenario, Previously Reported
Financial Highlights [Line Items]
Units Value (in dollars per share)					$ 2.63416
Maximum | Expense Ratio
Financial Highlights [Line Items]
Expense Ratio	1.25%	1.25%	1.25%	1.25%	1.25%
Maximum | Total Return
Financial Highlights [Line Items]
Total Return	4.73%	8.74%	6.77%	9.17%	6.48%

Financial Highlights (Narrative

Financial Highlights (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
VAL
Net Amount at Risk by Product and Guarantee [Line Items]
Effective annual rate used to determine daily the mortality risk and expense risk charges	0.60%
Maximum sales charge percent	5.00%
Partial withdrawal charge, amount	$ 15
Partial withdrawal charge, percent	2.00%
VLI
Net Amount at Risk by Product and Guarantee [Line Items]
Effective annual rate used to determine daily the mortality risk and expense risk charges	0.35%
SPVA
Net Amount at Risk by Product and Guarantee [Line Items]
Effective annual rate used to determine daily the mortality risk and expense risk charges	0.90%
Effective annual rate used to determine daily the administrative charges	0.35%
SPVL
Net Amount at Risk by Product and Guarantee [Line Items]
Effective annual rate used to determine daily the mortality risk and expense risk charges	0.90%
Effective annual rate used to determine daily the administrative charges	0.35%