TIAA REAL ESTATE ACCOUNT 8-K

What Happened

• TIAA Real Estate Account filed a Form 8-K on March 18, 2026 to disclose a quarterly performance Analysis for the period ended December 31, 2025.
• The Analysis presents the Account’s "Adjusted Total Return," which modifies historical performance so it can be compared to the NCREIF Fund Index – Open End Diversified Core Equity (NFI‑ODCE).
• The filing states these adjusted figures are prepared for investor comparison purposes only and do not reflect the actual returns experienced by holders of interests in the Account. The Analysis is furnished as Exhibit 99.1.

Key Details

• Filing date: March 18, 2026; Analysis covers the quarter ended December 31, 2025.
• Index used for comparison: NCREIF Fund Index – Open End Diversified Core Equity (NFI‑ODCE).
• Exhibit furnished: Exhibit 99.1 — Quarterly Performance Analysis (Q4 2025).
• Disclosure notes: Adjustments were made to historical Account performance to produce an "Adjusted Total Return"; the Account intends to prepare similar comparison materials periodically.

Why It Matters

• The Analysis gives investors a standardized way to compare the Account’s performance with a widely used real estate benchmark (NFI‑ODCE).
• Important caveat for investors: the adjusted returns are comparison tools and are not the actual returns received by investors—review your account statements for realized returns.
• This disclosure helps improve transparency around peer comparisons but does not replace formal financial statements or performance reports.