Pruco Life Of New Jersey Variable Contract Real Property Acc POS AM Prospectus update (post-effective amendment)

THE PRUDENTIAL VARIABLE CONTRACT REAL PROPERTY PARTNERSHIP

SCHEDULE III — REAL ESTATE OWNED: PROPERTIES
DECEMBER 31, 2007

							Costs			Gross Amount at Which
			Initial Costs to the Partnership				Capitalized			Carried at Close of Year
	Encumbrances				Building &		Subsequent to					Building &		2007					Year of		Date
Description	at 12/31/07		Land		Improvements		Acquisition			Land		Improvements		Sales			Total		Construction		Acquired
Properties:
Office Building Lisle, IL	None			1,780,000		15,743,881		6,988,640			1,949,206		22,563,315					24,512,521		1985	Apr., 1988
Garden Apartments Atlanta, GA		8,747,000		3,631,212		11,168,904		4,748,177	(b)		4,937,369		14,610,924					19,548,293		1987	Apr., 1988
Retail Shopping Center Roswell, GA	None			9,454,622		21,513,677		6,914,923			11,135,593		26,747,629					37,883,222		1988	Jan., 1989
Garden Apartments Raleigh, NC		8,750,000		1,623,146		14,135,553		616,338			1,773,244		14,601,793					16,375,037		1995	Jun., 1995
Hotel Portland, OR		—		1,500,000		6,508,729		1,119,686			1,500,000		7,628,415					9,128,415		1989	Dec., 2003
Office Building Nashville, TN	None			1,797,000		6,588,451		2,938,434			1,855,339		9,468,546					11,323,885		1982	Oct., 1995
Office Building Beaverton, OR	None			816,415		9,897,307		1,687,530			845,887		11,555,365					12,401,252		1995	Dec., 1996
Industrial Building Aurora, CO	None			1,338,175		7,202,411		2,747,794			1,415,159		9,873,221		(11,288,380	)		—		1997	Sep., 1997
Office Complex Brentwood, TN	None			2,425,000		7,063,755		2,882,337			2,463,601		9,907,491					12,371,092		1987	Oct., 1997
Retail Shopping Center Hampton, VA		7,777,948		2,339,100		12,767,956		2,943,034			4,839,418		13,210,672					18,050,090		1998	May, 2001
Retail Shopping Center Westminster, MD		—		3,031,735		9,326,605		47,160			3,031,735		9,373,765					12,405,500		2005	June, 2006
Retail Shopping Center Ocean City, MD		6,846,764		1,517,099		8,495,039		7,004,187			1,517,099		15,499,226					17,016,325		1986	Nov., 2002
Garden Apartments Austin, TX		—		2,577,097		20,125,169		21,583			2,577,097		20,146,752					22,723,849		2007	May, 2007
Retail Shopping Center Dunn, NC	None			586,500		5,372,344		—			586,500		5,372,344					5,958,844		1984	Aug., 2007
Garden Apartments Charlotte, NC		—		1,350,000		12,184,750		700			1,350,000		12,185,450					13,535,450		1998	Sep., 2007
		32,121,712		35,767,101		168,094,531		40,660,523			41,777,247		202,744,908		(11,288,380	)		233,233,775

		2007			2006		2005
(a)	Balance at beginning of year		199,124,056			183,767,148		224,584,885
	Additions:
	Acquistions		42,195,860			12,358,340		—
	Improvements, etc.		3,202,239			2,998,568		6,187,973
	Conversions from JV to WO							—
	Deletions:
	Sale		(11,288,380	)		—		(47,005,710	)
	Balance at end of year		233,233,775			199,124,056		183,767,148
(b)	Net of $1,000,000 settlement received from lawsuit.

Report of Independent Registered Public Accounting Firm on

Financial Statement Schedules

To the Partners of

The Prudential Variable Contract Real Property Partnership:

Our audits of the consolidated financial statements referred to in our report dated February 22, 2008 appearing in the Annual Report on Form 10-K also included an audit of the financial statement schedules exhibited in this Form S-1. In our opinion, these financial statement schedules present fairly, in all material respects, the information set forth therein when read in conjunction with the related consolidated financial statements.

PricewaterhouseCoopers LLP

New York, New York

February 22, 2008