Registration No. 333-237134

Filed Pursuant to Rule 433 of the Securities Act of 1933

Issuer Free Writing Prospectus dated February 8, 2021

Relating to statutory prospectus dated May 1, 2020

TIAA REAL ESTATE ACCOUNT

This free writing prospectus relates only to, and should be read together with, the statutory prospectus dated May 1, 2020 (the “Prospectus”) to the Registration Statement on Form S-1 (File No. 333-237134) relating to the public offering of the accumulation units of the TIAA Real Estate Account, which prospectus may be accessed through the following link:

http://www.sec.gov/Archives/edgar/data/946155/000162828020006031/reaprospectus2020.htm

We have filed a registration statement and the Prospectus with the SEC for the offering to which this communication relates. Before you invest, you should read the Prospectus (including the risk factors described therein) in that registration statement and other documents the TIAA Real Estate Account has filed with the SEC for more complete information about the TIAA Real Estate Account and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, we will arrange to send you the Prospectus if you contact the TIAA Real Estate Account at 877-518-9161.