Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 4

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 3
Chunk 4
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 to our inability to have access to all investment opportunities that Brookfield identifies.

• Risks relating to Brookfield’s 100% ownership of our LP Units.

• Risks relating to the significantly limited fiduciary obligations imposed on Brookfield to act in the best interests of our preferred unitholders or our best interest.

• Risks relating to our inability to terminate the Master Services Agreement.

• Risks relating to our indemnification of the Service Providers.

Risks Relating to Our Preferred Units and the New LP Preferred Units

• Risks relating to redemption of our Preferred Units and New LP Preferred Units.

• Risks related to the issuance of additional Preferred Units and New LP Preferred Units.

• Risks related to the payment and priority of payment of distributions of our Preferred Units and New LP Preferred Units.

• Risks related to the ratings, extremely limited voting rights, and transferability of our Preferred Units and New LP Preferred Units.

Risks Relating to Taxation

• Risks related to United States, Canadian and Bermudan taxation, and the effects thereof on our business and operations.

Risks Relating to Our Business

Our economic performance and the value of our assets are subject to the risks incidental to the ownership and operation of real estate assets.

Our economic performance, the value of our assets and, therefore, the value of our units and the New LP Preferred Units are subject to the risks normally associated with the ownership and operation of real estate assets, including but not limited to:

• downturns and trends in the national, regional and local economic conditions where our properties and other assets are located;

• the cyclical nature of the real estate industry;

• local real estate market conditions, such as an oversupply of commercial properties, including space available by sublease, or a reduction in demand for such properties;

• changes in interest rates and the availability of financing;

• competition from other properties;

• changes in market rental rates and our ability to rent space on favorable terms;

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• the bankruptcy, insolvency, credit deterioration or other default of our tenants;

• the need to periodically renovate, repair and re-lease space and the costs thereof;

• increases in maintenance, insurance and operating costs;

• civil disturbances, earthquakes and other natural disasters, cybersecurity attacks, pandemics, terrorist acts or acts of war, or firearm-related violence which may result in uninsured or underinsured losses;

• the decrease in the attractiveness of our properties to tenants;

• the decrease in the underlying value of our properties; and