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Loans Payable
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Loans Payable Loans Payable
At December 31, 2021 and 2020, the Account had outstanding loans payable secured by the following properties (millions):
Property
Interest Rate
and
Payment Frequency(2)
Principal Amounts Outstanding as of
December 31,		Maturity
20212020
Ascent at Windward
3.51% paid monthly
$— $34.6 January 1, 2022
The Palatine
4.25% paid monthly
— 74.4 January 10, 2022
The Forum at Carlsbad
4.25% paid monthly
— 84.0 March 1, 2022
Fusion 1560
3.42% paid monthly
37.4 37.4 June 10, 2022
San Diego Office Portfolio(4)
3.62% paid monthly
51.4 51.2 August 9, 2022
The Colorado(1)
3.69% paid monthly
84.7 86.4 November 1, 2022
The Legacy at Westwood(1)
3.69% paid monthly
43.2 44.0 November 1, 2022
Regents Court(1)
3.69% paid monthly
36.6 37.3 November 1, 2022
1001 Pennsylvania Avenue(1)
3.70% paid monthly
308.1 314.3 June 1, 2023
Biltmore at Midtown
3.94% paid monthly
36.4 36.4 July 5, 2023
Cherry Knoll
3.78% paid monthly
35.3 35.3 July 5, 2023
Lofts at SoDo
3.94% paid monthly
35.1 35.1 July 5, 2023
Pacific City
2.00% + LIBOR paid monthly
105.0 105.0 October 1, 2023
The Stratum(4)
2.45% paid monthly
39.8 — May 9, 2024
Spring House Innovation Park(4)
1.25% + LIBOR paid monthly
40.5 — July 9, 2024
1401 H Street, NW
3.65% paid monthly
115.0 115.0 November 5, 2024
The District at La Frontera(1)
3.84% paid monthly
37.8 38.4 December 1, 2024
The District at La Frontera(1)
4.96% paid monthly
4.2 4.2 December 1, 2024
Circa Green Lake
3.71% paid monthly
52.0 52.0 March 5, 2025
Union - South Lake Union
3.66% paid monthly
57.0 57.0 March 5, 2025
Holly Street Village
3.65% paid monthly
81.0 81.0 May 1, 2025
Henley at Kingstowne(1)
3.60% paid monthly
69.1 70.3 May 1, 2025
32 South State Street
4.48% paid monthly
24.0 24.0 June 6, 2025
Vista Station Office Portfolio(1)
4.00% paid monthly
19.3 19.9 July 1, 2025
780 Third Avenue
3.55% paid monthly
150.0 150.0 August 1, 2025
780 Third Avenue
3.55% paid monthly
20.0 20.0 August 1, 2025
Property
Interest Rate
and
Payment Frequency(2)
Principal Amounts Outstanding as of
December 31,		Maturity
20212020
Reserve at Chino Hills(4)
1.50% + LIBOR paid monthly
$68.2 $— August 9, 2025
Vista Station Office Portfolio(1)
4.20% paid monthly
42.9 43.9 November 1, 2025
Sixth & Main(4)
1.87% + LIBOR paid monthly
40.4 — November 9, 2025
701 Brickell Avenue(1)
3.66% paid monthly
182.0 184.0 April 1, 2026
Marketplace at Mill Creek
3.82% paid monthly
39.6 39.6 September 11, 2027
Overlook At King Of Prussia
3.82% paid monthly
40.8 40.8 September 11, 2027
Winslow Bay
3.82% paid monthly
25.8 25.8 September 11, 2027
1900 K Street, NW
3.93% paid monthly
163.0 163.0 April 1, 2028
99 High Street
3.90% paid monthly
277.0 277.0 March 1, 2030
Total Principal Outstanding $2,362.6 $2,381.3  
  Fair Value Adjustment(3)
 17.9 30.1  
Total Loans Payable $2,380.5 $2,411.4  
(1)The mortgage is adjusted monthly for principal payments.
(2)All interest rates are fixed except for Pacific City, Spring House Innovation Park, Reserve at Chino Hills and Sixth & Main, which have variable interest rates based on a spread above the one month London Interbank Offered Rate, as published by ICE Benchmark Administration Limited. Some mortgages held by the Account are structured to begin principal and interest payments after an initial interest only period.
(3)The fair value adjustment consists of the difference (positive or negative) between the principal amount of the outstanding debt and the fair value of the outstanding debt. See Note 1—Organization and Significant Accounting Policies.
(4)The loan is collateralized by a mezzanine loan receivable. The mezzanine loan receivable is collateralized by the property reflected within the table above.
Principal payment schedule on loans payable as of December 31, 2021 was as follows (in millions):
 Amount
2022$270.7 
2023523.1 
2024245.6 
2025621.4 
2026170.2 
Thereafter531.6 
Total maturities$2,362.6