CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($) shares in Millions, $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Investments, at fair value:
Real estate properties (cost: $14,226.1 and $14,163.2)	$ 20,179.1	$ 18,903.9
Real estate joint ventures (cost: $5,505.6 and $5,497.9)	7,253.3	7,175.9
Real estate funds (cost: $696.7 and $692.9)	805.8	811.5
Real estate operating business (cost: $352.5 and $251.6)	487.6	326.3
Marketable securities (cost: $2,579.1 and $2,217.0)	2,541.2	2,207.8
Loans receivable (principal: $1,270.0 and $1,434.3)	1,259.3	1,422.7
Loans receivable with related parties (principal: $69.8 and $69.8)	69.9	69.9
Total investments (cost: $24,699.8 and $24,326.7)	32,596.2	30,918.0
Cash and cash equivalents	34.9	21.2
Due from investment manager	9.2	9.9
Receivable for securities sold	4.8	0.0
Other	304.7	327.3
TOTAL ASSETS	32,949.8	31,276.4
LIABILITIES
Loans payable, at fair value (principal outstanding: $2,323.8 and $2,362.6)	2,338.0	2,380.5
Line of credit, at fair value	500.0	500.0
Accrued real estate property expenses	257.5	287.6
Payable for securities purchased	45.0	0.0
Other	38.3	36.3
TOTAL LIABILITIES	3,178.8	3,204.4
COMMITMENTS AND CONTINGENCIES
NET ASSETS
Accumulation Fund	29,141.9	27,476.0
Annuity Fund	629.1	596.0
TOTAL NET ASSETS	$ 29,771.0	$ 28,072.0
NUMBER OF ACCUMULATION UNITS OUTSTANDING (in shares)	53.7	53.4
NET ASSET VALUE, PER ACCUMULATION UNIT (in dollars per share)	$ 542.752	$ 514.765