Company: BPYPN
Filing Date: 2025-03-21
Form Type: 20-F
Source: 0001545772-25-000008
Chunk: 236

Company: Brookfield Property Partners L.P.
Filing Date: 2025-03-21
Form: 20-F
Item: Item 19
Chunk 236
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 Corporation, formerly known as Brookfield Asset Management Inc. (“ BN,” the “ Corporation,” or the “parent company”) and is the primary entity through which the parent company and its affiliates own, operate, and invest in commercial and other income producing property on a global basis.

The partnership’s sole direct investment is a 36

The partnership’s limited partnership units (“ BPY Units” or “ LP Units”) were delisted from the Nasdaq Stock Market (“ Nasdaq”) and the Toronto Stock Exchange (“ TSX”). The partnership’s 6.50 6.375 5.75 6.25 6.25

The registered head office and principal place of business of the partnership is 73 Front Street, 5th Floor, Hamilton HM 12, Bermuda.

NOTE 2. MATERIAL ACCOUNTING POLICIES

a)Statement of compliance

These consolidated financial statements of the partnership and its subsidiaries have been prepared in accordance with IFRS® Accounting Standards as issued by the International Accounting Standards Board (“ IFRS Accounting Standards”).

The consolidated financial statements were approved and authorized for issue by the Board of Directors of the partnership on March 21, 2025.

b)Basis of presentation

These consolidated financial statements have been prepared on a going concern basis and are presented in United States (“ U. S.”) Dollars rounded to the nearest million unless otherwise indicated.

(i)Subsidiaries

The consolidated financial statements include the accounts of the partnership and its subsidiaries over which the partnership has control. Control exists when the partnership has power over its investee, has exposure, or rights, to variable returns from its involvement with the investee and has the ability to use its power over the investee to affect the amount of its returns. The partnership considers all relevant facts and circumstances in assessing whether or not the partnership’s interests in the investee are sufficient to give it power over the investee.

Consolidation of a subsidiary begins on the date on which the partnership obtains control over the subsidiary and ceases when the partnership loses control over the subsidiary. Income and expenses of a subsidiary acquired or disposed of during a reporting period are consolidated only for the period when the partnership has control over the subsidiary. Changes in the partnership’s ownership interests in subsidiaries that do not result in loss of control over the subsidiary are accounted for as equity transactions whereby the difference between the amount by which the non-controlling interests are adjusted and the fair value of the consideration paid or received, are recognized directly in equity and attributed to owners of the partnership