Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 95

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 5
Chunk 95
---
 capital commitments to various funds;

◦ Discretionary capital expenditures;

◦Property acquisitions; and

◦ Future developments.

We finance our assets principally at the operating company level with asset-specific debt in local currencies that generally has long maturities, few restrictive covenants and recourse only to the asset. We endeavor to maintain prudent levels of debt and strive to ladder our principal repayments over a number of years.

The following table summarizes our secured debt obligations on investment properties by contractual maturity over the next five years and thereafter:

  (US$ Millions, except where noted)      Office                  Retail                 LP Investments                          
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  2025                                    $            6,516      $           2,881      $                    5,270      14,667  
  2026                                                 2,742                  1,483                           2,378       6,603  
  2027                                                 1,360                  1,168                           2,281       4,809  
  2028                                    214                     723                    628                              1,565  
  2029                                    850                                 1,917                           2,062       4,829  
  2030 and thereafter                     366                     38                                          2,675       3,079  
  Deferred financing costs                (30)                    (35)                   (93)                                    
  Secured debt obligations (1)            $           12,018      $           8,175      $                   15,201      35,394  

(1) The figures above do not consider available extension options. For the debt obligations maturing in the remainder of 2025 and 2026, debt obligations of $4,271 million, nil and $4,425 million for Office, Retail and LP Investments, respectively, had extension options.

We generally believe that we will be able to either extend the maturity date, repay, or refinance the debt that is scheduled to mature in 2025 to 2026, however, excluding debt obligations on assets in receivership, we have suspended contractual payment on approximately 5% of our non-recourse mortgages and are currently engaging in modification or

- 79 -

restructuring discussions with the respective creditors. We are seeking relief and may or may not be successful in these negotiations. If unsuccessful, certain properties securing these loans could be transferred