The partnership considers all relevant facts and circumstances in determining that its decision making rights over the entities listed below are sufficient to give it power over these subsidiaries. In addition, the partnership has exposure and rights to substantial variable returns from its economic interests in these subsidiaries, even after consideration of material non-controlling interests in certain subsidiaries. The partnership is able to use its power to affect the amount of its returns and consolidates these subsidiaries.


	Jurisdiction of formation	Economic interest				Voting interest
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2023		Dec. 31, 2022
Subsidiary of the partnership(1)	Bermuda	36	%	36	%	100	%	100	%

Holding entities of the Operating Partnership	Various	100	%	100	%	100	%	100	%










Real estate subsidiaries of the holding entities
BPO	Canada	100	%	100	%	100	%	100	%


U.S. Retail	United States	100	%	100	%	100	%	100	%

U.K. Short Stay(2)	United Kingdom	27	%	27	%	—	%	—	%



Korea Mixed-use(2)	South Korea	22	%	22	%	—	%	—	%
U.K. Student Housing(2)	Bermuda	—	%	25	%	—	%	—	%
U.S. Logistics	United States	23	%	—	%	—	%	—	%





U.S. Hospitality	United States	23	%	23	%	—	%	—	%





U.S. Manufactured Housing(2)	United States	24	%	24	%	—	%	—	%

(1)BPY holds all managing general partner units of the Operating Partnership and therefore has the power to direct the relevant activities and affairs of the Operating Partnership. The managing general partner units represent 36% and 36% of the total number of the Operating Partnership’s units at December 31, 2023 and 2022, respectively.

(2)The partnership holds its economic interest in these assets primarily through limited partnership interests in Brookfield-sponsored real estate funds. By their nature, limited partnership interests do not have any voting rights. The partnership has entered into voting agreements to provide the partnership with the ability to contractually direct the relevant activities of the investees.


	Jurisdiction of formation	Proportion of economic interests held by non- controlling interests				Non-controlling interests: Interests of others in operating subsidiaries and properties
(US$ Millions)		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2023		Dec. 31, 2022
Corporate Holding Entities(2)	Bermuda/Canada	—	%	—	%	$	6,494	$	5,033
BPO(1)	Canada	—	%	—	%	3,070		2,835
U.K Student Housing(4)	Bermuda	—	%	75	%	—		1,594
U.S. Retail(3)	United States	—	%	—	%	1,287		1,280
U.S. Manufactured Housing(4)	United States	76	%	76	%	1,161		1,191
Korea Mixed-use(4)	South Korea	78	%	78	%	1,056		936
U.K. Short Stay(4)	United Kingdom	73	%	73	%	569		756
U.S. Hospitality(4)(5)	United States	77	%	77	%	833		724
U.S. Logistics	Unites States	77	%	—	%	1,233		—
Other LP Investments	Various	33% - 99%		33% - 99%		9,629		3,735















Total						$	25,332	$	18,084

(4) Includes non-controlling interests representing interests held by other investors in Brookfield-sponsored real estate funds and holding entities through which the partnership participates in such funds. Also includes non-controlling interests in underlying operating entities owned by these funds.

Summarized financial information in respect of each of the partnership’s subsidiaries that have material non-controlling interests is set out below. The summarized financial information below represents amounts before intercompany eliminations.


	Dec. 31, 2023
									Equity attributable to
(US$ Millions)	Current assets		Non-current assets		Current liabilities		Non-current liabilities		Non- controlling interests		Owners of the entity
Corporate Holding Entities	$	6,398	$	1,616	$	6,211	$	7,067	$	7,153	$	(12,417)
BPO	4,732		30,435		9,838		12,530		5,185		7,614

U.S. Retail	744		29,435		5,381		8,148		1,287		15,363
U.S. Manufactured Housing	59		3,605		2,129		—		1,161		374
Korea Mixed-use	229		3,814		1,829		855		1,056		303
U.K. Short Stay	89		4,816		512		3,587		569		237










U.S. Hospitality	271		3,600		366		2,425		833		247
U.S. Logistics	293		2,347		309		733		1,233		365





Total	$	12,815	$	79,668	$	26,575	$	35,345	$	18,477	$	12,086


	Dec. 31, 2022
									Equity attributable to
(US$ Millions)	Current assets		Non-current assets		Current liabilities		Non-current liabilities		Non- controlling interests		Owners of the entity
Corporate Holding Entities	$	6,385	$	579	$	6,087	$	7,877	$	5,457	$	(12,457)
BPO	4,304		33,911		10,656		14,390		3,129		10,040
U.K. Student Housing	2,255		—		114		—		1,594		547
U.S. Retail	561		29,681		2,293		11,559		1,280		15,110
U.S. Manufactured Housing	61		4,279		2,593		178		1,191		378
Korea Mixed-use	167		3,745		64		2,642		936		270
U.K. Short Stay	197		4,419		485		3,068		756		307
U.S. Hospitality	159		3,530		373		2,378		724		214






Total	$	14,089	$	80,144	$	22,665	$	42,092	$	15,067	$	14,409


	Year ended Dec. 31, 2023
			Attributable to non-controlling interests						Attributable to owners of the partnership
(US$ Millions)	Revenue		Net income (loss)		Total compre-hensive income		Distributions		Net (loss) income		Total compre-hensive (loss) income
Corporate Holding Entities	$	353	$	86	$	89	$	49	$	(275)	$	(237)
BPO	1,989		(21)		(22)		11		(1,162)		(1,099)
U.K. Student Housing	—		4		3		876		1		—
U.S. Retail	1,559		7		4		6		234		205
U.S. Manufactured Housing	296		84		84		41		30		30
Korea Mixed-use	248		139		121		—		40		17
U.K. Short Stay	863		53		203		599		20		227
US Hospitality	799		(159)		128		—		(49)		323
U.S. Logistics	50		153		153		11		41		41






Total	$	6,157	$	346	$	763	$	1,593	$	(1,120)	$	(493)


	Year ended Dec. 31, 2022
			Attributable to non-controlling interests						Attributable to owners of the partnership
(US$ Millions)	Revenue		Net income (loss)		Total compre-hensive income		Distributions		Net (loss) income		Total compre-hensive (loss) income
Corporate Holding Entities	$	406	$	36	$	59	$	113	$	(20)	$	156
BPO	2,105		124		106		24		(759)		(802)
U.K. Student Housing	191		492		482		65		148		134
U.S. Retail	1,557		(2)		2		4		165		203
U.S. Manufactured Housing	287		254		254		13		81		81
Korea Mixed-use	228		28		—		—		8		(28)
U.K. Short Stay	794		44		114		151		16		114







Total	$	5,568	$	976	$	1,017	$	370	$	(361)	$	(142)


	Year ended Dec. 31, 2021
			Attributable to non-controlling interests						Attributable to owners of the partnership
(US$ Millions)	Revenue		Net income (loss)		Total compre-hensive income (loss)		Distributions		Net income (loss)		Total compre-hensive income (loss)
Corporate Holding Entities	$	444	$	(7)	$	(11)	$	389	$	(122)	$	(48)
BPO	2,151		264		257		79		494		482
U.K. Student Housing	160		204		191		—		69		51
U.S. Retail	1,511		(22)		(22)		10		(126)		(101)
U.S. Manufactured Housing	266		572		572		675		183		183
Korea Mixed-use	211		364		304		—		105		28
U.K. Short Stay	546		(52)		26		—		(20)		108




Total	$	5,289	$	1,323	$	1,317	$	1,153	$	583	$	703

Certain of the partnership’s subsidiaries are subject to restrictions over the extent to which they can remit funds to the partnership in the form of cash dividends, or repayment of loans and advances as a result of borrowing arrangements, regulatory restrictions and other contractual requirements.