CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($) shares in Millions, $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Investments, at fair value:
Real estate properties (cost: $14,503.4 and $14,323.2)	$ 19,191.3	$ 20,444.0
Real estate joint ventures (cost: $5,789.6 and $5,738.1)	6,341.5	7,103.6
Real estate funds (cost: $815.8 and $787.7)	892.7	893.4
Real estate operating business (cost: $371.4 and $355.0)	653.6	641.9
Marketable securities (cost: $639.0 and $2,077.1)	639.3	2,030.2
Loans receivable (principal: $1,551.1 and $1,546.0)	1,264.5	1,418.7
Loans receivable with related parties (principal: $101.0 and $69.9)	101.0	69.9
Total investments (cost: $23,771.3 and $24,897.0)	29,083.9	32,601.7
Cash and cash equivalents	82.2	72.4
Due from investment manager	0.1	0.0
Other	360.6	359.5
TOTAL ASSETS	29,526.8	33,033.6
LIABILITIES
Loans payable, at fair value (principal outstanding: $1,923.5 and $2,168.7)	1,847.3	2,069.7
Other unsecured debt, at fair value (principal outstanding: $1,400.0 and $1,000.0)	1,354.4	953.1
Due to investment manager	0.0	7.1
Accrued real estate property expenses	279.1	291.8
Other	47.9	53.8
TOTAL LIABILITIES	3,528.7	3,375.5
COMMITMENTS AND CONTINGENCIES
NET ASSETS
Accumulation Fund	25,428.3	29,025.7
Annuity Fund	569.8	632.4
TOTAL NET ASSETS	$ 25,998.1	$ 29,658.1
NUMBER OF ACCUMULATION UNITS OUTSTANDING (in shares)	49.0	52.1
NET ASSET VALUE, PER ACCUMULATION UNIT (in dollars per share)	$ 518.533	$ 556.923