Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 266

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 266
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45                            2                         
  Equity accounted investments                          —                             127                       
  Accounts receivables and other assets                 135                           50                        
  Assets held for sale                                                     3,100                         1,852  
  Debt obligations                                      816                           —                         
  Accounts payable and other liabilities                82                            57                        
  Liabilities associated with assets held for sale      $                    898      $                     57  

The following table presents the change to the components of the assets held for sale from the beginning of the year:

  (US$ Millions)                                                Dec. 31, 2024                     Dec. 31, 2023             
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Balance, beginning of year                                    $                      1,852      $                    576  
  Reclassification to assets held for sale, net                                        3,764                         1,798  
  Reclassification of BSREP IV assets to held for sale (1)                            33,735      —                         
  Disposals (1)                                                                    ( 36,538)      ( 525)                    
  Fair value adjustments                                        37                                ( 67)                     
  Foreign currency translation                                  ( 34)                             1                         
  Acquisition of Foreign Investments                            —                                 47                        
  Other                                                         284                               22                        
  Assets held for sale                                          $                      3,100      $                  1,852  

(1) See Note 31, Related Parties for further information on the Reclassifications of BSREP IV investments to assets held for sale.

At December 31, 2023, assets held for sale included five four two one

- F-34 -

In the first quarter of 2024, the partnership sold two 120

In the second quarter of 2024, the partnership sold five one 173

In the third quarter of 2024, the partnership sold three three three one 159

In the third quarter of 2024, the partnership reclassified its LP interest in the BSREP IV investments to assets and liabilities held for sale, as it determined it would no longer control such investments following mandatory conversion of non-voting preferred shares held by Brookfield Wealth Solutions Ltd. (“ BWS”). SeeNote 31, Related Parties for further information on the preferred shares and the reclassification of BSREP IV investments to assets and liabilities to held for sale. As part of this reclassification, $