v3.26.3
Loans Payable (Tables)
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Outstanding Loans Payable
At September 30, 2026 and December 31, 2025, the Account had outstanding loans payable secured by the following properties (in millions):
Property
Annual Interest Rate and
Payment Frequency
Principal
Amounts Outstanding as of		Maturity
September 30, 2026December 31, 2025
32 South State Street(1)
4.48% paid monthly
— 24.0 June 6, 2025
Reserve at Chino Hills(2)(3)
1.61% + SOFR paid monthly
— 82.2 October 9, 2026
Vista Station Office Portfolio(4)
4.20% paid monthly
37.8 38.7 November 1, 2026
Project Sonic(2)(3)
2.00% + SOFR paid monthly
— 94.0 June 9, 2027
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(6)
3.82% paid monthly
— 25.8 September 11, 2027
Liberty Park
1.80% + SOFR paid monthly
60.2 60.2 December 9, 2027
1900 K Street, NW(4)
3.93% paid monthly
149.3 151.8 April 1, 2028
One Biscayne(3)
2.45% + SOFR paid monthly
80.0 80.0 September 9, 2028
Ashford Meadows(5)
5.76% paid monthly
64.6 64.6 October 1, 2028
803 Corday(5)
5.76% paid monthly
62.2 62.2 October 1, 2028
Churchill on the Park(5)
5.76% paid monthly
40.5 40.5 October 1, 2028
Carrington Park(5)
5.76% paid monthly
43.9 43.8 October 1, 2028
Five Oak(6)
1.47% + SOFR paid monthly
— 44.2 August 9, 2029
Total Principal Outstanding$618.9 $892.4 
Fair Value Adjustment(7)
(27.2)(62.1)
Total Loans Payable$591.7 $830.3 
(1)Debt extinguished during the period as a result of the relinquishment of the underlying property to the lender pursuant to a deed in lieu of foreclosure agreement.
(2)The principal amount of the outstanding debt was paid off during the quarter.
(3)The loan is collateralized by a mezzanine loan receivable, which is collateralized by the property listed in the above table.
(4)The mortgage is adjusted monthly for principal payments.
(5)These loans are part of a cross-collateralized credit facility pursuant to the Credit Agreement.
(6)Debt was extinguished as part of the disposition of the collateral property.
(7)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.