UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
____________________
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
May 8, 2007
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TIAA REAL ESTATE ACCOUNT
(Exact Name of Registrant as Specified in its Charter)
New York | Not Applicable |
| (State or Other Jurisdiction of Incorporation) | (IRS Employer Identification No.) |
33-92990, 333-13477, 333-22809, 333-59778,
333-83964, 333-113602, 333-121493, 333-132580 and 333-141513
(Commission File Number)
c/o Teachers Insurance and Annuity Association of America
730 Third Avenue
New York, New York 10017-3206
(Address of principal executive offices) (Zip Code)
(Registrant’s Telephone Number, Including Area Code): (212) 490-9000
N/A
(Former name or former address, if changed since last report)
____________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events.
Effective as of May 1, 2007, the annual expense deductions applicable to the TIAA Real Estate Account (the “Account” or the “Registrant”) are:
Type of Expense Deduction | | Estimated
Percent of
Net Assets
Annually | | Services Performed |
| | | | |
Investment Management | | 0.240% | | For TIAA’s investment advice, portfolio accounting, custodial services, and similar services, including independent fiduciary and appraisal fees |
Administration | | 0.255% | | For administrative services performed by TIAA-CREF Individual & Institutional Services, LLC (“Services”), such as allocating premiums and paying annuity income |
Distribution | | 0.080% | | For Services’ expenses related to distributing the annuity contracts |
Mortality and Expense Risk | | 0.050% | | For TIAA’s bearing certain mortality and expense risks |
Liquidity Guarantee | | 0.160% | | For TIAA’s liquidity guarantee |
Total Annual Expense Deduction | | 0.785% | | For total services to the Account |
(1) TIAA guarantees that the total annual expense deduction will not exceed an annual rate of 2.50% of average net assets.
(2) TIAA currently does not impose a fee on transfers from the Account, but reserves the right to impose a fee on transfers from the Account in the future.
All of these services are performed at cost by Teachers Insurance and Annuity Association of America (“TIAA”) or subsidiaries of TIAA. Since expenses are charged at cost, the expenses described are estimates for the year based on projected expense and asset levels. Any differences between actual and estimated expenses are adjusted quarterly.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TIAA REAL ESTATE ACCOUNT |
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| | By: | TEACHERS INSURANCE AND ANNUITY |
| | | ASSOCIATION OF AMERICA |
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| DATE: May 8, 2007 | By: | /s/ Stewart P. Greene | |
| | | Stewart P. Greene |
| | | Vice President and Associate General Counsel |
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