Pruco Life Variable Contract Real Property Account POS AM 31 Mar 21 2020 FY Prospectus update (post-effective amendment) Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2020
Cover [Abstract]
Document Type	S-1
Entity Registrant Name	PRUCO LIFE VARIABLE CONTRACT REAL PROPERTY ACCOUNT
Entity Incorporation, State or Country Code	AZ
Entity Tax Identification Number	22-1944557
Entity Address, Address Line One	213 Washington Street
Entity Address, City or Town	Newark
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07102
City Area Code	973
Local Phone Number	802-6000
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Central Index Key	0000801348

STATEMENTS OF NET ASSETS

STATEMENTS OF NET ASSETS - USD ($)	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Investment in The Prudential Variable Contract Real Property Partnership	$ 103,601,210	$ 119,311,703
Net Assets	103,601,210	119,311,703
NET ASSETS, representing:
Equity of contract owners	63,333,946	76,903,740
Equity of Pruco Life Insurance Company	40,267,264	42,407,963
Net Assets	$ 103,601,210	$ 119,311,703
Portfolio shares held (in shares)	2,295,033	2,295,033
Portfolio net asset value per share (in dollars per share)	$ 45.14	$ 51.99
Contract owner units outstanding (in shares)	17,166,032	18,007,135

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
INVESTMENT INCOME
Net investment income allocated from The Prudential Variable Contract Real Property Partnership	$ 2,592,815	$ 3,225,917	$ 3,596,895
EXPENSES
Charges for mortality and expense risk, and for administration	419,110	463,851	481,386
NET INVESTMENT INCOME	2,173,705	2,762,066	3,115,509
NET RECOGNIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS
Net unrealized appreciation (depreciation) on investments allocated from The Prudential Variable Contract Real Property Partnership	(11,424,222)	(13,819)	872,569
Net recognized gain (loss) on investments allocated from The Prudential Variable Contract Real Property Partnership	(6,879,088)	0	0
NET GAIN (LOSS) ON INVESTMENTS	(18,303,310)	(13,819)	872,569
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$ (16,129,605)	$ 2,748,247	$ 3,988,078

STATEMENTS OF CHANGES IN NET AS

STATEMENTS OF CHANGES IN NET ASSETS - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
OPERATIONS
Net investment income	$ 2,173,705	$ 2,762,066	$ 3,115,509
Net unrealized appreciation (depreciation) on investments allocated from The Prudential Variable Contract Real Property Partnership	(11,424,222)	(13,819)	872,569
Net recognized gain (loss) on investments allocated from The Prudential Variable Contract Real Property Partnership	(6,879,088)	0	0
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	(16,129,605)	2,748,247	3,988,078
CAPITAL TRANSACTIONS
Net contributions (withdrawals) by contract owners	(3,310,830)	(4,391,616)	(3,695,445)
Net contributions (withdrawals) by Pruco Life Insurance Company	3,729,942	4,855,467	1,217,452
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM CAPITAL TRANSACTIONS	419,112	463,851	(2,477,993)
TOTAL INCREASE (DECREASE) IN NET ASSETS	(15,710,493)	3,212,098	1,510,085
NET ASSETS
Beginning of year	119,311,703	116,099,605	114,589,520
End of year	$ 103,601,210	$ 119,311,703	$ 116,099,605

General

General	12 Months Ended
	Dec. 31, 2020
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 Prudential Variable Contract Real Property Account and 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. COVID-19 - Beginning in the first quarter of 2020, the outbreak of the novel coronavirus (“COVID-19”) has resulted in extreme stress and disruption in the global economy and financial markets, and has adversely impacted, and may continue to adversely impact, the financial performance of the Partnership in which the Real Property Account invests. Due to the highly uncertain nature of these conditions, it is not possible to estimate the ultimate impacts at this time. Management will continue to monitor developments, and their impact on the fair value of the Partnership, which may be materially adversely affected if the financial markets and/or the overall economy are impacted for an extended period.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Standards Update and Change in Accounting Principle [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, and an adjustment or disclosure is required in the financial statements. See Note 10 for more information. 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, 2020 and 2019, the Real Property Account’s share of the general partners' controlling interest of the Partnership was 53.0% or 2,295,033 shares and 53.0% or 2,295,033 shares, respectively. 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 gains and losses are allocated based upon the average daily net assets for the investment in the Partnership. Amounts are based on the Real Property Account’s proportionate interest in the Partnership. All changes in fair value are recorded as net change in unrealized appreciation (depreciation) on investments in the Statement of Operations. 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, 2020, 2019 and 2018 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, 2020, 2019 and 2018.

Taxes

Taxes	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Taxes	TaxesPruco 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, 2020
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, 2020, 2019 and 2018 were as follows: December 31, 2020 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,398,741 $ 141,332 $ — $ — $ 2,540,073 Policy loans (706,560) (63,636) — (20,644) (790,840) Policy loan repayments and interest 1,959,278 100,982 — 85,056 2,145,316 Surrenders, withdrawals and death benefits (3,851,774) (251,017) — (364,891) (4,467,682) Net transfers from/(to) other subaccounts or fixed rate option (1,075,919) (69,890) — (114) (1,145,923) Miscellaneous transactions 39,603 2,995 — 6,333 48,931 Administrative and other charges (1,478,509) (154,349) — (7,847) (1,640,705) $ (2,715,140) $ (293,583) $ — $ (302,107) $ (3,310,830) December 31, 2019 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,088,543 $ 149,189 $ — $ — $ 2,237,732 Policy loans (820,743) (40,459) — (15,185) (876,387) Policy loan repayments and interest 1,428,976 74,420 — 72,781 1,576,177 Surrenders, withdrawals and death benefits (3,855,790) (219,934) (186) (283,235) (4,359,145) Net transfers from/(to) other subaccounts or fixed rate option (1,091,672) (61,549) — (14,520) (1,167,741) Miscellaneous transactions (3,863) (486) — (1,598) (5,947) Administrative and other charges (1,619,926) (166,492) — (9,887) (1,796,305) $ (3,874,475) $ (265,311) $ (186) $ (251,644) $ (4,391,616) December 31, 2018 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,296,578 $ 157,296 $ — $ — $ 2,453,874 Policy loans (891,790) (61,152) — (11,905) (964,847) Policy loan repayments and interest 1,523,621 52,640 — 13,437 1,589,698 Surrenders, withdrawals and death benefits (3,484,541) (238,698) (205) (119,713) (3,843,157) Net transfers from/(to) other subaccounts or fixed rate option (1,013,153) (51,437) — (13,789) (1,078,379) Miscellaneous transactions 5,668 (657) — 7 5,018 Administrative and other charges (1,675,713) (170,977) — (10,962) (1,857,652) $ (3,239,330) $ (312,985) $ (205) $ (142,925) $ (3,695,445)

Partnership Distributions

Partnership Distributions	12 Months Ended
	Dec. 31, 2020
Partnership Distributions [Abstract]
Partnership Distributions	Partnership Distributions For the year ended December 31, 2020 and 2019, the Partnership made no distributions. For the year ended December 31, 2018, the Partnership distributed a total of $5.0 million, which occurred on December 27, 2018. The Real Property Account’s share of this distribution was $3.0 million. For the years ended December 31, 2020, 2019 and 2018, there were no purchases of the Partnership by the Real Property Account.

Unit Activity

Unit Activity	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019 and 2018 were as follows: December 31, 2020 VAL VLI SPVA SPVL TOTAL Units issued: 104,929 11,027 — 1,346 117,302 Units redeemed: (785,684) (78,423) — (94,300) (958,407) December 31, 2019 VAL VLI SPVA SPVL TOTAL Units issued: 75,275 10,519 — 3,475 89,269 Units redeemed: (993,524) (68,528) (63) (77,002) (1,139,117) December 31, 2018 VAL VLI SPVA SPVL TOTAL Units issued: 497,036 11,800 — 1,595 510,431 Units redeemed: (1,279,737) (81,702) (63) (44,107) (1,405,609)

Financial Highlights

Financial Highlights	12 Months Ended
	Dec. 31, 2020
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. In the table below, the contract owner units and net assets, the investment income ratio and the ranges of lowest to highest unit values, expense ratios and total returns are presented for the products offered by Pruco Life and funded through the Real Property Account. Only product designs within the Real Property Account that had contract owner units outstanding during the respective periods were considered when determining the ranges, which exclude Pruco Life’s position in the Real Property Account. The table may not reflect the minimum and maximum contract charges as contract owners may not have selected all available and applicable products offered by Pruco Life as disclosed in Note 1. Units Unit Value Net Assets Investment Income Ratio (1) Expense Ratio (2) Lowest-Highest Total Return (3) Lowest-Highest December 31, 2020 17,166 $ 2.95 — $ 4.01 $ 63,334 2.30 % 0.35% — 1.25% (14.24)% — (13.47)% December 31, 2019 18,007 $ 3.44 — $ 4.63 $ 76,904 2.74 % 0.35% — 1.25% 1.49% — 2.41% December 31, 2018 19,057 $ 3.39 — $ 4.52 $ 79,624 3.06 % 0.35% — 1.25% 2.60% — 3.53% December 31, 2017 19,952 $ 3.31 — $ 4.37 $ 80,712 3.10 % 0.35% — 1.25% 3.60% — 4.53% December 31, 2016 20,921 $ 3.19 — $ 4.18 $ 81,138 3.51 % 0.35% — 1.25% 3.80% — 4.73% (1) This amount represents the contract owners' proportionate share of net investment income from the underlying Partnership divided by the contract owners' average daily net assets of the Real Property Account. This ratio excludes those expenses, such as mortality 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 risk and administrative 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. 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 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 December 31, 2020 $40,267 December 31, 2019 $42,408 December 31, 2018 $36,475 December 31, 2017 $33,878 December 31, 2016 $30,945 Charges and Expenses A. Mortality and Expense Risk Charges Mortality 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 a 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 Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party TransactionsThe 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 Financial 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, 2020
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 at fair value, which reflects the Real Property Account's proportionate interest in the net asset value of the Partnership, in accordance with the Financial Accounting Standards Board Accounting Standards Codification Topic 820, Fair Value Measurement. 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.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Liquidation of Real Property Account Effective February 22, 2021, the Real Property Account closed to new investments. On March 31, 2021, the General Partners announced their intention to liquidate the Real Property Account on or about February 22, 2022 (the “liquidation date”). Preexisting automatic program instructions will continue to allocate to the Real Property Account until April 26, 2021. From this date to the liquidation date, any allocation to the Real Property Account will automatically be redirected to the AST Cohen & Steers Realty Portfolio. Contract owners can voluntarily re-allocate to an available investment option other than the AST Cohen & Steers Realty Portfolio at any time.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
Basis of Accounting	Basis of AccountingThe financial statements have been prepared in accordance with accounting principles generally accepted in the United States ofAmerica (“U.S. GAAP”). The Real Property Account has evaluated subsequent events through the date these financial statements were issued, and an adjustment or disclosure is required in the financial statements. See Note 10 for more information.
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 InterestThe investment in the Partnership is based on the Real Property Account’s proportionate interest of the Partnership’s fair value. At December 31, 2020 and 2019, the Real Property Account’s share of the general partners' controlling interest of the Partnership was 53.0% or 2,295,033 shares and 53.0% or 2,295,033 shares, respectively. 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 RecognitionNet investment income or loss and recognized gains and losses are allocated based upon the average daily net assets for the investment in the Partnership. Amounts are based on the Real Property Account’s proportionate interest in the Partnership. All changes in fair value are recorded as net change in unrealized appreciation (depreciation) on investments in the Statement of Operations.
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. There were no cash transactions at the Real Property Account level for the years ended December 31, 2020, 2019 and 2018 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, 2020, 2019 and 2018.

Net Contributions (Withdrawal_2

Net Contributions (Withdrawals) by Contract Owners (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019 and 2018 were as follows: December 31, 2020 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,398,741 $ 141,332 $ — $ — $ 2,540,073 Policy loans (706,560) (63,636) — (20,644) (790,840) Policy loan repayments and interest 1,959,278 100,982 — 85,056 2,145,316 Surrenders, withdrawals and death benefits (3,851,774) (251,017) — (364,891) (4,467,682) Net transfers from/(to) other subaccounts or fixed rate option (1,075,919) (69,890) — (114) (1,145,923) Miscellaneous transactions 39,603 2,995 — 6,333 48,931 Administrative and other charges (1,478,509) (154,349) — (7,847) (1,640,705) $ (2,715,140) $ (293,583) $ — $ (302,107) $ (3,310,830) December 31, 2019 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,088,543 $ 149,189 $ — $ — $ 2,237,732 Policy loans (820,743) (40,459) — (15,185) (876,387) Policy loan repayments and interest 1,428,976 74,420 — 72,781 1,576,177 Surrenders, withdrawals and death benefits (3,855,790) (219,934) (186) (283,235) (4,359,145) Net transfers from/(to) other subaccounts or fixed rate option (1,091,672) (61,549) — (14,520) (1,167,741) Miscellaneous transactions (3,863) (486) — (1,598) (5,947) Administrative and other charges (1,619,926) (166,492) — (9,887) (1,796,305) $ (3,874,475) $ (265,311) $ (186) $ (251,644) $ (4,391,616) December 31, 2018 VAL VLI SPVA SPVL TOTAL Contract owner net payments $ 2,296,578 $ 157,296 $ — $ — $ 2,453,874 Policy loans (891,790) (61,152) — (11,905) (964,847) Policy loan repayments and interest 1,523,621 52,640 — 13,437 1,589,698 Surrenders, withdrawals and death benefits (3,484,541) (238,698) (205) (119,713) (3,843,157) Net transfers from/(to) other subaccounts or fixed rate option (1,013,153) (51,437) — (13,789) (1,078,379) Miscellaneous transactions 5,668 (657) — 7 5,018 Administrative and other charges (1,675,713) (170,977) — (10,962) (1,857,652) $ (3,239,330) $ (312,985) $ (205) $ (142,925) $ (3,695,445)

Unit Activity (Tables)

Unit Activity (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020, 2019 and 2018 were as follows: December 31, 2020 VAL VLI SPVA SPVL TOTAL Units issued: 104,929 11,027 — 1,346 117,302 Units redeemed: (785,684) (78,423) — (94,300) (958,407) December 31, 2019 VAL VLI SPVA SPVL TOTAL Units issued: 75,275 10,519 — 3,475 89,269 Units redeemed: (993,524) (68,528) (63) (77,002) (1,139,117) December 31, 2018 VAL VLI SPVA SPVL TOTAL Units issued: 497,036 11,800 — 1,595 510,431 Units redeemed: (1,279,737) (81,702) (63) (44,107) (1,405,609)

Financial Highlights (Tables)

Financial Highlights (Tables)	12 Months Ended
	Dec. 31, 2020
Financial Highlights [Abstract]
Schedule of Financial Highlights	In the table below, the contract owner units and net assets, the investment income ratio and the ranges of lowest to highest unit values, expense ratios and total returns are presented for the products offered by Pruco Life and funded through the Real Property Account. Only product designs within the Real Property Account that had contract owner units outstanding during the respective periods were considered when determining the ranges, which exclude Pruco Life’s position in the Real Property Account. The table may not reflect the minimum and maximum contract charges as contract owners may not have selected all available and applicable products offered by Pruco Life as disclosed in Note 1. Units Unit Value Net Assets Investment Income Ratio (1) Expense Ratio (2) Lowest-Highest Total Return (3) Lowest-Highest December 31, 2020 17,166 $ 2.95 — $ 4.01 $ 63,334 2.30 % 0.35% — 1.25% (14.24)% — (13.47)% December 31, 2019 18,007 $ 3.44 — $ 4.63 $ 76,904 2.74 % 0.35% — 1.25% 1.49% — 2.41% December 31, 2018 19,057 $ 3.39 — $ 4.52 $ 79,624 3.06 % 0.35% — 1.25% 2.60% — 3.53% December 31, 2017 19,952 $ 3.31 — $ 4.37 $ 80,712 3.10 % 0.35% — 1.25% 3.60% — 4.53% December 31, 2016 20,921 $ 3.19 — $ 4.18 $ 81,138 3.51 % 0.35% — 1.25% 3.80% — 4.73% (1) This amount represents the contract owners' proportionate share of net investment income from the underlying Partnership divided by the contract owners' average daily net assets of the Real Property Account. This ratio excludes those expenses, such as mortality 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 risk and administrative 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. Net Assets December 31, 2020 $40,267 December 31, 2019 $42,408 December 31, 2018 $36,475 December 31, 2017 $33,878 December 31, 2016 $30,945

General (Narrative) (Details)

General (Narrative) (Details)	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Minimum percent of partnership assets invested in direct ownership interests	65.00%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounting Standards Update and Change in Accounting Principle [Abstract]
Percent of interest in the General Partners Controlling Interest	53.00%	53.00%
Interest in the General Partners Controlling Interest (in shares)	2,295,033	2,295,033
Cash transactions	$ 0	$ 0	$ 0

Net Contributions (Withdrawal_3

Net Contributions (Withdrawals) by Contract Owners (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net Contributions Withdrawals By Contract Owners [Line Items]
Contract owner net payments	$ 2,540,073	$ 2,237,732	$ 2,453,874
Policy loans	(790,840)	(876,387)	(964,847)
Policy loan repayments and interest	2,145,316	1,576,177	1,589,698
Surrenders, withdrawals and death benefits	(4,467,682)	(4,359,145)	(3,843,157)
Net transfers from/(to) other subaccounts or fixed rate option	(1,145,923)	(1,167,741)	(1,078,379)
Miscellaneous transactions	48,931	(5,947)	5,018
Administrative and other charges	(1,640,705)	(1,796,305)	(1,857,652)
Net Contributions (Withdrawals) by Contract Owners	(3,310,830)	(4,391,616)	(3,695,445)
VAL
Net Contributions Withdrawals By Contract Owners [Line Items]
Contract owner net payments	2,398,741	2,088,543	2,296,578
Policy loans	(706,560)	(820,743)	(891,790)
Policy loan repayments and interest	1,959,278	1,428,976	1,523,621
Surrenders, withdrawals and death benefits	(3,851,774)	(3,855,790)	(3,484,541)
Net transfers from/(to) other subaccounts or fixed rate option	(1,075,919)	(1,091,672)	(1,013,153)
Miscellaneous transactions	39,603	(3,863)	5,668
Administrative and other charges	(1,478,509)	(1,619,926)	(1,675,713)
Net Contributions (Withdrawals) by Contract Owners	(2,715,140)	(3,874,475)	(3,239,330)
VLI
Net Contributions Withdrawals By Contract Owners [Line Items]
Contract owner net payments	141,332	149,189	157,296
Policy loans	(63,636)	(40,459)	(61,152)
Policy loan repayments and interest	100,982	74,420	52,640
Surrenders, withdrawals and death benefits	(251,017)	(219,934)	(238,698)
Net transfers from/(to) other subaccounts or fixed rate option	(69,890)	(61,549)	(51,437)
Miscellaneous transactions	2,995	(486)	(657)
Administrative and other charges	(154,349)	(166,492)	(170,977)
Net Contributions (Withdrawals) by Contract Owners	(293,583)	(265,311)	(312,985)
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	0	(186)	(205)
Net transfers from/(to) other subaccounts or fixed rate option	0	0	0
Miscellaneous transactions	0	0	0
Administrative and other charges	0	0	0
Net Contributions (Withdrawals) by Contract Owners	0	(186)	(205)
SPVL
Net Contributions Withdrawals By Contract Owners [Line Items]
Contract owner net payments	0	0	0
Policy loans	(20,644)	(15,185)	(11,905)
Policy loan repayments and interest	85,056	72,781	13,437
Surrenders, withdrawals and death benefits	(364,891)	(283,235)	(119,713)
Net transfers from/(to) other subaccounts or fixed rate option	(114)	(14,520)	(13,789)
Miscellaneous transactions	6,333	(1,598)	7
Administrative and other charges	(7,847)	(9,887)	(10,962)
Net Contributions (Withdrawals) by Contract Owners	$ (302,107)	$ (251,644)	$ (142,925)

Partnership Distributions (Narr

Partnership Distributions (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Partnership Distributions [Abstract]
Partnership distribution made	$ 0	$ 0	$ 5
The Account's share of Partnership distribution			3
Purchases of the Partnership by the Real Property Account	$ 0	$ 0	$ 0

Unit Activity (Details)

Unit Activity (Details) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Unit Activity [Line Items]
Units issued:	117,302	89,269	510,431
Units redeemed:	(958,407)	(1,139,117)	(1,405,609)
VAL
Unit Activity [Line Items]
Units issued:	104,929	75,275	497,036
Units redeemed:	(785,684)	(993,524)	(1,279,737)
VLI
Unit Activity [Line Items]
Units issued:	11,027	10,519	11,800
Units redeemed:	(78,423)	(68,528)	(81,702)
SPVA
Unit Activity [Line Items]
Units issued:	0	0	0
Units redeemed:	0	(63)	(63)
SPVL
Unit Activity [Line Items]
Units issued:	1,346	3,475	1,595
Units redeemed:	(94,300)	(77,002)	(44,107)

Financial Highlights (Details)

Financial Highlights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Financial Highlights [Line Items]
Units (in shares)	17,166,032	18,007,135
Net Assets	$ 103,601,210	$ 119,311,703	$ 116,099,605	$ 114,589,520
Company Net Assets
Financial Highlights [Line Items]
Net Assets	$ 40,267,000	$ 42,408,000	$ 36,475,000	$ 33,878,000	$ 30,945,000
Units
Financial Highlights [Line Items]
Units (in shares)	17,166,000	18,007,000	19,057,000	19,952,000	20,921,000
Units | Minimum
Financial Highlights [Line Items]
Units Value (in dollars per share)	$ 2.95	$ 3.44	$ 3.39	$ 3.31	$ 3.19
Units | Maximum
Financial Highlights [Line Items]
Units Value (in dollars per share)	$ 4.01	$ 4.63	$ 4.52	$ 4.37	$ 4.18
Net Assets
Financial Highlights [Line Items]
Net Assets	$ 63,334,000	$ 76,904,000	$ 79,624,000	$ 80,712,000	$ 81,138,000
Investment Income Ratio
Financial Highlights [Line Items]
Investment Income Ratio	2.30%	2.74%	3.06%	3.10%	3.51%
Expense Ratio | Minimum
Financial Highlights [Line Items]
Expense Ratio	0.35%	0.35%	0.35%	0.35%	0.35%
Expense Ratio | Maximum
Financial Highlights [Line Items]
Expense Ratio	1.25%	1.25%	1.25%	1.25%	1.25%
Total Return | Minimum
Financial Highlights [Line Items]
Total Return	(14.24%)	1.49%	2.60%	3.60%	3.80%
Total Return | Maximum
Financial Highlights [Line Items]
Total Return	(13.47%)	2.41%	3.53%	4.53%	4.73%

Financial Highlights (Narrative

Financial Highlights (Narrative) (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
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%

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Millions	Dec. 31, 2020USD ($)
Fair Value Disclosures [Abstract]
Minimum percent of partnership assets invested in direct ownership interests	65.00%
Unfunded capital commitments	$ 0