<ARTICLE>                     6
<LEGEND>
                              THIS   SCHEDULE    CONTAINS   SUMMARY    FINANCIAL
                              INFORMATION EXTRACTED FROM THE UNAUDITED FINANCIAL
                              STATEMENTS  AND IS  QUALIFIED  IN ITS  ENTIRETY BY
                              REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK>                         0000946155
<NAME>                        TIAA REAL ESTATE ACCOUNT
<MULTIPLIER>                  1
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JUL-01-1996
<PERIOD-END>                               SEP-30-1996
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<EXPENSES-NET>                                (310,695)
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