TIAA Real Estate Account furnishes Q2 2025 performance analysis with adjusted return methodology

TIAA REAL ESTATE ACCOUNT

Quarterly Performance Analysis for period ended June 30, 2025 is furnished as Exhibit 99.1.
Adjusted Total Return calculated by removing Liquid Assets above 15% and liquidity guarantee costs.
Comparison with NFI-ODCE index intended for institutional investors and plan sponsors.
Appendix A reconciliation of Total Return to Adjusted Total Return not included in provided exhibit text.
No specific return figures for Q2 2025 were disclosed in this filing.

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