Loans Receivable (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Loans Receivable, Underlying Real Estate Collateral by Property Types

The following property types represent the underlying real estate collateral for the Account's mezzanine loans (in millions):


	September 30, 2021						December 31, 2020

	Principal Outstanding		Fair Value		% of Fair Value		Principal Outstanding		Fair Value		% of Fair Value
Office(1)	$	792.1	$	782.3	54.1	%	$	794.5	$	778.4	49.9	%
Apartments(1)	253.4		251.2		17.3	%	262.2		259.7		16.6	%
Industrial	182.7		182.7		12.6	%	194.3		194.3		12.4	%
Hotel	125.3		124.8		8.6	%	135.3		129.9		8.3	%
Retail	108.7		107.1		7.4	%	128.6		126.5		8.1	%
Storage	—		—		—	%	82.0		73.8		4.7	%
	$	1,462.2	$	1,448.1	100.0	%	$	1,596.9	$	1,562.6	100.0	%

(1) Includes loans receivable with related parties.

Schedule of Fair Value Based on Risk Ratings

The following table presents the fair values of the Account's loan portfolio based on the risk ratings as of September 30, 2021 (in millions), listed in order of the strength of the risk rating (from strongest to weakest):


	September 30, 2021					December 31, 2020
	Number of Loans	Fair Value		% of Fair Value		Number of Loans	Fair Value		% of Fair Value
A	5	298.9		20.7	%	—	—		—	%
BBB	5	364.7		25.2	%	1	69.6		4.5	%
BB	11	504.4		34.8	%	10	444.6		28.5	%
B	3	62.8		4.3	%	11	758.2		48.5	%
C	2	147.9		10.2	%	2	147.0		9.4	%
D	—	—		—	%	1	73.8		4.7	%
NR(1)	2	69.4		4.8	%	2	69.4		4.4	%
	28	$	1,448.1	100.0	%	27	$	1,562.6	100.0	%

(1) "NR" designates loans not assigned an internal credit rating. As of September 30, 2021 and December 31, 2020, this is comprised of two loans with related parties. The loans are collateralized by equity interests in real estate investments.