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

• recognize that superior returns often require contrarian thinking.Given the size and scope of our business, we believe that we have significant flexibility to source andallocate real estate capital on a global basis and a strong global franchise to generate growth. We are not apassive investor. We plan to grow by acquiring positions of control or influence over the assets in which weinvest using a variety of strategies to target assets directly or through portfolios and corporate entities. We seek tocreate value and reduce the risk profile of portfolio assets through our in-house property management, leasing,brokerage, development and construction capabilities.We expect to be primarily focused on commercial property and have therefore not acquired Brookfield’sresidential land development, home building, construction, real estate advisory services and other similaroperations and services. However, we may pursue acquisitions in those sectors, either as part of commercialproperty acquisitions or on a stand-alone basis, if it would allow us to generate attractive returns.An integral part of our strategy is to pursue acquisitions through consortium arrangements withinstitutional investors, strategic partners or financial sponsors and to form partnerships to pursue acquisitions ona specialized or global basis. Brookfield has a strong track record of leading such consortiums and partnershipsand actively managing underlying assets to improve performance. Brookfield has established and manages anumber of private investment entities, managed accounts, joint ventures, consortiums, partnerships andinvestment funds whose investment objectives include the acquisition of commercial property and Brookfieldmay in the future establish similar funds. We expect to be the lead investor when Brookfield raises its flagshipopportunistic private real estate fund.Competitive StrengthsWe believe that a number of competitive strengths differentiate us from other real property companies.• Global Scale. We are one of the world’s largest publicly-traded commercial property owners.Coupled with Brookfield’s experience, execution abilities and global relationships, our globalpresence should permit us to source and execute large-scale transactions across a wide spectrum ofreal estate sectors and geographies.• Sector and Geographic Diversification. We intend to leverage the size and scope of our operatingplatforms to provide increased revenue diversity and scale, financial strength and capitaldeployment. Because we have interests in office, retail, multi-family and industrial assets in NorthAmerica, Europe, Australia and Brazil, we expect our opportunities to be greater and our revenuestreams to be more stable than if we were focused on a single type of real property or onegeographic region. Our diversification positions us well to pursue growth through development,opportunistic and turn-around strategies and select investments in emerging and high-growthmarkets.• Superior Operating Capabilities. Brookfield’s operating experience and expertise should provide astrong pipeline of deal flow, sourcing capabilities and industry visibility, market-specificunderwriting expertise, and the ability to add value at the property and operations level. As wepursue opportunities in the various markets in which we operate, we will benefit from Brookfield’sexperience in owning, operating and investing in high quality commercial properties, sourcing andstructuring deals with financial and regulatory complexity, executing opportunistic strategies andturnarounds, and employing an operations-oriented approach to adding value by leveraging thestrength of our operating entities.• Stable and Growing Cash Flow. We believe we will have sustainable and growing cash flowwhich will be underpinned by our high quality assets, quality credit tenant base and long term leaseexpiry profile. Our company intends to make quarterly cash distributions in an initial amountcurrently anticipated to be approximately $1.00 per unit on an annualized basis, which initiallyrepresents an estimated dividend yield of approximately 4% of IFRS Value. We will target an41