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

The charts below present the IFRS Value of our portfolio by asset class and by geographic location as atMarch 31, 2012:IFRS Value by Asset ClassIFRS Value by Geographic LocationOffice (56%)Retail (37%)Multi-Family andIndustrial (1%)OpportunisticInvestments (6%)United States (63%)Australia (18%)Europe (9%)Canada (8%)Brazil (2%)IFRS Value represents equity attributable to parent company and means total assets less total liabilities andnon-controlling interests. For a discussion of IFRS Value see Item 5.A. “Operations and Financial Review andProspects — Performance Measures”. Information regarding the revenues attributable to each of our operatingplatforms and the geographic locations in which we operate is presented in Note 20 and Note 25, respectively, tothe March 31, 2012 unaudited and the December 31, 2011 audited carve-out financial statements of thecommercial property operations of Brookfield Asset Management included elsewhere in this Form 20-F.Our Business StrategyWe invest in well-located real estate assets that generate, or have the potential to generate, long-term,predictable and sustainable cash flows with attractive growth and development potential in some of the world’smost resilient and dynamic markets. We seek to enhance these cash flows through active asset management andour operations-oriented approach. Our properties are located in North America, Europe, Australia and Brazil andwe may pursue growth in other markets where we identify attractive opportunities to build operating platforms oracquire assets and to achieve strong risk-adjusted returns.We strive to invest at attractive valuations, particularly in distress situations that create opportunities forsuperior valuation gains and cash flow returns, or to monetize assets at appropriate times to realize value. At allpoints along the risk-return spectrum, we draw on the resources and local market intelligence of our operatingentities. We believe our strategy will enable us to generate a high level of stable and sustainable cash flows in ourcore properties while allowing us to pursue opportunistic returns by taking advantage of dislocations andinefficiencies in the various real estate markets in which we operate. In executing these strategies, we willleverage our established property platform, our strategic relationship with Brookfield and our large capitalizationto grow our business over time.To execute our strategy, we seek to:• have “best-in-class” operating platforms with high quality real estate assets that are financed withconservative, long-term asset financing, with limited recourse to our company;• maintain a high level of financial liquidity and operational flexibility to be able to capitalize onopportunities to enhance value through acquisitions, development activity and operationalimprovements;• invest where we possess competitive advantages;• acquire assets on a value basis with a goal of maximizing return on capital;• build sustainable cash flows to reduce risk and lower the cost of capital; and40