Item 2.02 Results of Operations and Financial Condition.

          The information set forth below under “Item 7.01 Regulation FD Disclosure” is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

Commencing with its results for the period ended March 31, 2012, the TIAA Real Estate Account (the “Account” or the “Registrant”) will prepare materials (the “Analysis”) for its investors so that such investors may compare the adjusted performance results of the Account to that of two broad-based, widely-used real estate indices, the NCREIF Fund Index – Open End Diversified Core Equity and the NCREIF Property Index (“NPI”). In particular, in order to facilitate comparability between the Account’s performance and NPI, the Account has engaged the National Council of Real Estate Investment Fiduciaries (“NCREIF”), an independent party, to recalculate the performance of the Account’s directly held real estate in accordance with the methodology NCREIF uses to measure performance for open end real estate funds. These adjusted performance figures are designed for the use of Account investors for comparison purposes only, and do not reflect the true returns experienced by holders of interests in the Account. In the future, the Account periodically intends to prepare similar comparison materials for its investors to reflect the most recent fiscal period for which data is available.

The most recently prepared Analysis, relating to the performance of the Account through March 31, 2012, is furnished as Exhibit 99.1 to this report. The information contained in this Item 7.01, including Exhibit 99.1 furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, and shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise stated in such filing.