CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES - USD ($) shares in Millions, $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Investments, at fair value:
Real estate properties (cost: $13,864.0 and $14,682.0)	$ 16,223.8	$ 18,020.3
Real estate joint ventures (cost: $5,989.6 and $5,645.7)	5,725.1	5,881.2
Real estate funds (cost: $778.2 and $821.0)	714.6	792.4
Real estate operating business (cost: $462.1 and $390.8)	897.6	685.9
Marketable securities (cost: $383.9 and $147.3)	383.9	147.4
Loans receivable (principal: $1,361.0 and $1,483.7)	952.4	1,082.4
Loans receivable with related parties (principal: $69.3 and $102.0)	69.3	101.3
Total investments (cost: $22,908.1 and $23,272.5)	24,966.7	26,710.9
Cash and cash equivalents	52.4	58.8
Due from investment manager	4.7	15.8
Other	388.1	395.0
TOTAL ASSETS	25,411.9	27,180.5
LIABILITIES
Loans payable, at fair value (principal outstanding: $1,787.5 and $1,922.6)	1,741.6	1,862.5
Line of credit, at fair value (principal outstanding: $72.0 and $463.0)	72.0	463.0
Other unsecured debt, at fair value (principal outstanding: $900.0 and $900.0)	895.8	881.6
Accrued real estate property expenses	274.1	286.2
Other	57.3	68.3
TOTAL LIABILITIES	3,040.8	3,561.6
COMMITMENTS AND CONTINGENCIES
NET ASSETS
Accumulation Fund	21,908.5	23,110.4
Annuity Fund	462.6	508.5
TOTAL NET ASSETS	$ 22,371.1	$ 23,618.9
NUMBER OF ACCUMULATION UNITS OUTSTANDING (in shares)	47.8	48.0
NET ASSET VALUE, PER ACCUMULATION UNIT (in dollars per share)	$ 458.111	$ 481.054