Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 283

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 283
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708)  
  Brookfield Corporation interest in CanHoldco                             ( 1,277)           ( 1,415)  
  Preferred shares held by BWS (3)(4)                                             —           ( 1,600)  

(1) Includes loans and notes receivable with other affiliates as of December 31, 2024 of $ 146 112

(2) Includes other payables and liabilities with other affiliates as of December 31, 2024 of $ 464 901

(3) Brookfield Reinsurance Ltd. (” BNRE”) has been renamed to Brookfield Wealth Solutions Ltd. (“ BWS”) as of September 2024.

(4) In October 2024, BWS exercised its right to convert Preferred Shares to common shares. As a result, the partnership's approximate 8

  (US$ Millions) Years ended Dec. 31,                                                    2024      2023      2022  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Transactions with related parties:                                                                               
  Commercial property revenue (1)                                                           $         $         $  
  Management fee income                                                                   227       163        92  
  Expenses from equity accounted investments                                               64         8        22  
  Interest expense on debt obligations                                                    209       116        20  
  Capital calls, net funded by BWS (5)                                                      —        69         —  
  General and administrative expense (2)                                                  333       345       327  
  Construction costs (3)                                                                   76        66        68  
  Return of capital distributions on Brookfield Corporation’s interest in CanHoldco         —         —       118  
  Distributions on Brookfield Corporation’s interest in CanHoldco                          21        49       113  
  Incentive Fees (4)                                                                        9        22        45  

(1) Amounts received from Brookfield Corporation and its subsidiaries for the rental of office premises.

(2) Includes amounts paid to Brookfield Corporation and its subsidiaries for management fees, management fees associated with the partnership’s investments in Brookfield-sponsored real estate funds, and administrative services.

(3) Includes amounts paid to Brookfield Corporation and its subsidiaries for construction costs of development properties.

(4) Represents incentive fees the partnership is obligated to pay to the general partner of the partnership’s various fund investments.

(5) BWS, which is