FORM 20-F/A Brookfield Property Partners L.P. - Brookfield Asset ...

Given the small amount of new office development that occurred over the last decade and the near totaldevelopment halt during the global financial crisis, we see an opportunity to advance our development inventoryin the near term in response to demand we are seeing in our major markets. In addition, we continue to repositionand redevelop existing retail properties, in particular, a number of the highest performing shopping centers inthe U.S.5.E. OFF-BALANCE SHEET ARRANGEMENTSWe do not have any off-balance sheet arrangements that have or are reasonably likely to have a materialcurrent or future effect on our financial condition, changes in financial condition, revenues or expenses, results ofoperations, liquidity, capital expenditures or capital resources that is material to investors.5.F. TABULAR DISCLOSURE OF CONTRACTUAL OBLIGATIONSThe following table summarizes our significant contractual obligations as of December 31, 2011:(US$ Millions)Payments Due By PeriodTotal Less than 1 Year 2 –3 years 4 – 5 Years After 5 YearsProperty and other secured debt $ 15,598 $ 1,433 $ 6,812 $ 2,063 $ 5,290Capital securities 994 150 392 452 -Other financial liabilities 1,170 1,170 - - -Interest expense (1)Property and other secured debt 4,746 984 1,820 1,015 927Capital securities 152 49 72 31 -(1) Represents aggregate interest expense expected to be paid over the term of the obligations. Variable interest rate payments have beencalculated based on current rates.ITEM 6.DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES6.A. DIRECTORS AND SENIOR MANAGEMENTGovernanceAs required by law, our limited partnership agreement provides for the management and control of ourcompany by a general partner rather than a board of directors and officers. The BPY General Partner serves asour company’s general partner and has a board of directors. The BPY General Partner has no executive officers.The BPY General Partner has sole responsibility and authority for the central management and control of ourcompany, which is exercised through its board of directors.The following table presents certain information concerning the current board of directors of the BPYGeneral Partner:Name, Municipality of Residence andIndependence (1)Richard B. Clark, New York, United States(Not Independent)Steven J. Douglas, Mississauga, Canada(Not Independent)Jeffrey M. Blidner, Toronto, Canada(Not Independent)Brett M. Fox, Old Bethpage, United States(Not Independent)AgePosition with theBPY General PartnerPrincipal Occupation52 Director Chief Executive Officer of Brookfield’sglobal property group44 Director Chief Financial Officer of Brookfield’sglobal property group64 Director Senior Managing Partner of BrookfieldAsset Management40 Director General Counsel of Brookfield’s globalproperty group(1) The mailing addresses for the directors are set forth under Item 7.A. “Major Shareholders and Related Party Transactions — MajorShareholders”.115