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

Operating EntitiesOur business is organized in four operating platforms: office, retail, multi-family and industrial, andopportunistic investment. The capital invested in these operating platforms is through a combination of: directinvestment; investments in asset level partnerships or joint venture arrangements; sponsorship and participation inprivate equity funds; and the ownership of shares in other public companies. Combining both publicly-listed andprivate institutional capital provides a competitive advantage in flexibility and access to capital to fund growth. Asat the dates set out below, we held our commercial property operations through our interests in the entities andgroups of assets set out below.Operations March 31, 2012 December 31, 2011 December 31, 2010 December 31, 2009OfficeBrookfield Office Properties Inc. (1) 50% 50% 50% 50%Australia (2) 100% 100% 100% 100%Europe 100% 100% 100% 100%Canary Wharf Group plc 22% 22% 22% 15%RetailGeneral Growth Properties, Inc. (3) 21% 21% 8% -Rouse Properties, Inc. (4) 37% - - -Brazil Retail Fund 35% 35% 25% 25%Interest in Australia 100% 100% 100% 100%Europe - - 100% 100%Multi-Family & Industrial (5)Multi-Family (through various funds) 10%-52% 10%-52% 29%-52% 29%-52%Industrial (through various funds) 29%-41% 29% - -Opportunistic Investments (5)Opportunity Funds 29%-82% 29%-82% 29%-82% 29%-82%Finance Funds 13%-33% 25%-33% 28%-33% 28%-33%(1) Our interest in Brookfield Office Properties is comprised of 49.6% of the outstanding common shares and 97.1% of the outstandingvoting preferred shares. Brookfield Office Properties owns an approximate 83.3% aggregate equity interest in Brookfield CanadaOffice Properties, a Canadian real estate investment trust that is listed on the TSX and the NYSE and an approximate 84.3% interest inthe U.S. Office Fund, which consists of a consortium of institutional investors and which is led and managed by Brookfield OfficeProperties.(2) Our Australian office platform consists of our economic interest in certain of our Australian office properties not held throughBrookfield Office Properties.(3) Our interest in GGP is comprised of an economic interest in approximately 21% (38% with our consortium partners) of theoutstanding shares of common stock (assuming the exercise of all outstanding warrants to acquire additional shares of common stock,which warrants were “in-the-money” as at March 31, 2012).(4) Rouse is a newly formed NYSE-listed company that GGP spun-out to its shareholders on January 12, 2012. As at March 31, 2012, wehad interest of approximately 37% (54% with our consortium partners) of the outstanding shares of common stock.(5) Our economic interest set forth in the table above is reflected as a range because we hold certain of our multi-family and industrial andopportunistic investment assets through a combination of Brookfield-sponsored private funds in which we hold varying interests.Office PlatformBrookfield Office Properties Inc.: Our U.S. and Canadian office properties and our economic interests inmost of our Australian office properties are held through our approximate 50% voting interest in BrookfieldOffice Properties, a global pure-play office company that is incorporated under the laws of Canada and is listedon the NYSE and the TSX. Brookfield Office Properties owns all of its Canadian office properties through itsapproximate 83.3% aggregate equity interest in Brookfield Canada Office Properties, a real estate investmenttrust formed under the laws of Canada and listed on the TSX and the NYSE. Brookfield Office Properties alsoowns a portion of its U.S. office properties through its approximate 84.3% interest in the U.S. Office Fund, whichconsists of a consortium of institutional investors and which is led and managed by Brookfield Office Properties.As at March 31, 2012, Brookfield Office Properties’ portfolio consisted of interests in 108 properties totaling78 million square feet and interests in 16 million square feet of high quality, centrally-located development sites.Brookfield has held an interest in Brookfield Office Properties and its predecessors for over 20 years.63