Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 3

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 3
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ITEM 3. KEY INFORMATION

3. A.

[Reserved]

3. B. CAPITALIZATION AND INDEBTEDNESS

Not applicable.

3. C. REASONS FOR THE OFFER AND USE OF PROCEEDS

Not applicable.

3. D. RISK FACTORS

The following summarizes some, but not all, of the risks provided below. You should carefully consider the following factors in addition to the other information set forth in this Form 20-F. If any of the following risks actually occur, our business, financial condition and results of operations and the value of our units and the New LP Preferred Units would likely suffer.

Risks Relating to Our Business

• Risks relating to the risks incidental to the ownership and operation of real estate assets.

• Risks relating to changes in our credit rating, current and future indebtedness, refinancing risks and compliance with restrictive covenants.

• Risks relating to reliance on significant tenants and tenant defaults, bankruptcies or insolvencies.

• Risks relating to our ability to renew or enter into new leases with tenants for space that is subject to expiring leases.

• Risks relating to force majeure events, uninsurable losses and higher insurance premiums.

• Risks relating to trends in the office real estate industry, including sustained changes in client preferences and space utilization, moving from full-time, collective in-person work environments to hybrid or remote work models and use of businesses utilizing shared office and co-working spaces.

• Risks relating to the factors that affect the retail environment, including unemployment, weak income growth, lack of available consumer credit, inflation, industry slowdowns, increased consumer debt, poor housing market conditions and the need to pay down existing obligations.

• Risks relating to business disruptions, cybersecurity failures and data security incidents.

• Risks relating to businesses and properties that we are invested in, either solely or in connection with co-venturers, partners, fund investors or co-tenants.

• Risks relating to disputes, governmental and regulatory policies and investigations and possible litigation.

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• Risks relating to climate change and its impact on our operations and markets.

Risks Relating to Us and Our Structure

• Risks relating to our reliance on the Property Partnership and, indirectly, the Holding Entities and our operating entities to provide us with funds.

Risks Relating to Our Relationship with Brookfield

• Risks relating to our dependence on Brookfield and the Service Providers, and conflicts of interests therewith.

• Risks relating