Brookfield Property Partners
| Company type | Subsidiary |
|---|---|
| ISIN | BMG162491499 BMG162491564 BMG162491648 |
| Industry | Commercial property |
| Founded | January 3, 2013 |
| Headquarters | Hamilton, Bermuda |
Area served | United States, Canada, Australia, Europe, Brazil, and Asia |
Key people |
|
| Products | Commercial property |
| Revenue | US$9.483 billion (2023) |
| -US$1.849 billion (2023) | |
| Total assets | US$131.577 billion (2023) |
| Total equity | US$48.587 billion (2023) |
Number of employees | 30,200, including affiliates |
| Parent | Brookfield Corporation |
| Subsidiaries | Brookfield Properties (35.89% general partnership interest) |
| Website | bpy |
| Footnotes / references | |
Brookfield Property Partners L.P. is a limited partnership that owns office buildings and shopping centers/shopping malls, as well as minority limited partner interests in investment funds sponsored by affiliates that invest in other types of commercial property. It is headquartered in Hamilton, Bermuda.
The partnership is a wholly-owned subsidiary of Brookfield Corporation, but it has outstanding publicly-traded preferred stock. The partnership owns a 35.89% general partnership interest in Brookfield Properties, while a 63.46% beneficial interest in Brookfield Properties is owned by Brookfield Corporation.
The partnership was formed in January 2013 and in April 2013, Brookfield Corporation completed the corporate spin-off of the partnership. In August 2018, the partnership acquired the interests in GGP Inc. that it did not already own. In July 2021, the partnership once again became a wholly-owned subsidiary of Brookfield Corporation.
In 2023, approximately 65% of the partnership's revenues were generated in the United States, while 35% of revenues originated from Canada, Australia, the United Kingdom, Europe, Brazil and Asia.