<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL  INFORMATION EXTRACTED FROM THE AUDITED
FINANCIAL  STATEMENTS  AND IS  QUALIFIED  IN ITS  ENTIRETY BY  REFERENCE TO SUCH
FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000946155
<NAME> TIAA REAL ESTATE ACCOUNT
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JUL-03-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                      117,962,496
<INVESTMENTS-AT-VALUE>                     117,982,234
<RECEIVABLES>                               23,150,000
<ASSETS-OTHER>                               1,648,400
<OTHER-ITEMS-ASSETS>                           396,787
<TOTAL-ASSETS>                             143,177,421
<PAYABLE-FOR-SECURITIES>                    22,788,035
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      131,041
<TOTAL-LIABILITIES>                         22,919,076
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                        1,172,498
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                               120,258,345
<DIVIDEND-INCOME>                                8,671
<INTEREST-INCOME>                            2,820,229
<OTHER-INCOME>                                 121,930
<EXPENSES-NET>                                 310,433
<NET-INVESTMENT-INCOME>                      2,640,397
<REALIZED-GAINS-CURRENT>                        15,865
<APPREC-INCREASE-CURRENT>                       19,738
<NET-CHANGE-FROM-OPS>                        2,676,000
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,172,498
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                     120,258,345
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          228,136
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                311,038
<AVERAGE-NET-ASSETS>                       105,219,935
<PER-SHARE-NAV-BEGIN>                          100.000
<PER-SHARE-NII>                                  2.535
<PER-SHARE-GAIN-APPREC>                          0.031
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                            102.566
<EXPENSE-RATIO>                                   .003
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0