CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($) shares in Millions, $ in Millions		Mar. 31, 2020	Dec. 31, 2019
Investments, at fair value:
Real estate properties (cost: $14,098.9 and $13,048.5)		$ 17,082.1	$ 15,835.0
Real estate joint ventures and funds (cost: $5,042.0 and $6,244.4)		6,591.5	7,516.0
Marketable securities:
Real estate-related (cost: $800.4 and $686.0)	[1]	724.7	825.7
Other (cost: $1,354.4 and $4,144.7)		1,347.3	4,150.2
Loans receivable (principal: $1,574.5 and $1,504.5)		1,562.5	1,503.1
Loans receivable with related parties (principal: $69.3 and $69.3)		68.5	69.0
Total investments (cost: $22,939.5 and $25,697.4)		27,376.6	29,899.0
Cash and cash equivalents		1,354.1	15.1
Due from investment manager		0.0	5.5
Receivable for securities sold		363.5	0.0
Other	[2]	270.2	290.3
TOTAL ASSETS		29,364.4	30,209.9
LIABILITIES
Loans payable, at fair value (principal outstanding: $2,624.3 and $2,338.0)		2,605.6	2,365.0
Line of credit, at fair value		190.0	250.0
Due to investment manager		19.0	0.0
Accrued real estate property expenses		242.4	225.9
Payable for collateral for securities loaned		2.5	25.7
Payable for securities purchased		251.6	0.0
Other		38.2	35.4
TOTAL LIABILITIES		3,349.3	2,902.0
COMMITMENTS AND CONTINGENCIES
NET ASSETS
Accumulation Fund		25,466.4	26,759.1
Annuity Fund		548.7	548.8
TOTAL NET ASSETS		$ 26,015.1	$ 27,307.9
NUMBER OF ACCUMULATION UNITS OUTSTANDING (in shares)		57.8	60.8
NET ASSET VALUE, PER ACCUMULATION UNIT (in dollars per share)		$ 440.892	$ 440.422

[1] Includes securities loaned of $2.4 million at March 31, 2020 and $25.2 million at December 31, 2019.

[2] Includes cash collateral for securities loaned of $2.5 million at March 31, 2020 and $25.7 million at December 31, 2019.