<TABLE> <S> <C>
<PAGE>
<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
<S> <C>
<PERIOD-TYPE> 3-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-START> JUL-01-2000
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 2,133,155,999
<INVESTMENTS-AT-VALUE> 2,205,287,064
<RECEIVABLES> 0
<ASSETS-OTHER> 27,917,469
<OTHER-ITEMS-ASSETS> 145,055
<TOTAL-ASSETS> 2,233,349,588
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 30,176,695
<TOTAL-LIABILITIES> 30,176,695
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 13,847,659
<SHARES-COMMON-PRIOR> 12,925,942
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,203,172,893
<DIVIDEND-INCOME> 1,479,219
<INTEREST-INCOME> 6,317,707
<OTHER-INCOME> 35,937,643
<EXPENSES-NET> (3,182,065)
<NET-INVESTMENT-INCOME> 40,552,504
<REALIZED-GAINS-CURRENT> (241,717)
<APPREC-INCREASE-CURRENT> 15,013,318
<NET-CHANGE-FROM-OPS> 55,324,105
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 146,224,658
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 201,548,763
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,525,198
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,182,065
<AVERAGE-NET-ASSETS> 2,109,606,696
<PER-SHARE-NAV-BEGIN> 149.942
<PER-SHARE-NII> 2.912
<PER-SHARE-GAIN-APPREC> 1.089
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 153.943
<EXPENSE-RATIO> 0.150
</TABLE>
