Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 99

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 5
Chunk 99
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  Liabilities associated with assets held for sale                                                                —                                                —                                                                            
  Preferred equity                                                                         3,728                  —                                                —                                                      (4,450)               
  Equity attributable to interests of others in operating subsidiaries and properties                  2,458      —                                                —                                                       22,874       25,332  
  Equity attributable to unitholders (1)                                                   1,658       7,576      $                                    23,255      $                                                     (22,816)       22,556  

(1) Includes net income attributable to LP Units, GP Units, REUs, Special LP Units and FV LTIP Units.

(2) Includes the Operating Partnership, CanHoldco, Brookfield BPY Retail Holdings II Inc., BPY Bermuda Holdings Limited, and BPY Bermuda Holdings II Limited.

(3) Includes BPY Bermuda Holdings IV Limited, BPY Bermuda Holdings V Limited and BPY Bermuda Holdings VI Limited, which serve as guarantors for BPO but not BOP Split, net of intercompany balances and transactions with other holding entities.

(4) Includes elimination of intercompany transactions and balances necessary to present the partnership on a consolidated basis.

New LP Preferred Units Guarantee

New LP was created in connection with the Privatization in order to issue New LP Preferred Units. The payment obligations of New LP to the holders of the New LP Preferred Units, including accrued and unpaid distributions, are fully and unconditionally guaranteed by the partnership, the Operating Partnership and several Holding Entities (CanHoldco, Brookfield BPY Retail Holdings II Inc., BPY Bermuda Holdings Limited, BPY Bermuda Holdings II Limited, BPY Bermuda Holdings IV Limited, BPY Bermuda Holdings V Limited and BPY Bermuda Holdings VI Limited). The guarantee of each guarantor ranks senior to all subordinate guarantor obligations.

Pursuant to Rule 13-01 of the SEC’s Regulation S-X, the following tables provides combined summarized financial information of New LP and New LP guarantor entities.

Total revenue of the partnership for the twelve months ended December 31, 2024 was $9,111 million. Summarized financial information of combined guarantor entities is presented in the following table:

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  (US$ Millions)                                         Combined Guarantor entities  
  For the twelve months ended Dec. 31, 2024                                           
 ──────────────────────────────────────────────────────────────────────────────────────
  Revenue                                                                          $  
  Revenue - from related parties                                                  12  
  Revenue - from