INVESTMENTS IN SUBSIDIARIES (Tables)

12 Months Ended

Dec. 31, 2022

Interests In Other Entities [Abstract]

The following table presents the partnership’s material subsidiaries as of December 31, 2022 and 2021:


	Jurisdiction of formation	Economic interest				Voting interest
		Dec. 31, 2022		Dec. 31, 2021		Dec. 31, 2022		Dec. 31, 2021
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	%
Australia Office(2)	Canada	100	%	100	%	100	%	100	%

U.S. Retail(3)	United States	100	%	100	%	100	%	100	%

U.K. Short Stay(4)	United Kingdom	27	%	27	%	—	%	—	%



Korea Mixed-use(4)	South Korea	22	%	22	%	—	%	—	%
U.K. Student Housing(4)	Bermuda	25	%	25	%	—	%	—	%






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





U.S. Manufactured Housing(4)	United States	24	%	26	%	—	%	—	%

(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, 2022 and 2021, respectively.

(2)This entity holds certain Australian properties not held through BPO.

(3)The partnership controls BPYU as it held 100% of the voting stock of BPYU through its 100% ownership of the BPYU Class B and Class C shares.

(4)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.

The table below shows details of non-wholly owned subsidiaries of the partnership that have material non-controlling interests:


	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, 2022		Dec. 31, 2021		Dec. 31, 2022		Dec. 31, 2021
Corporate Holding Entities(2)	Bermuda/Canada	—	%	—	%	$	5,033	$	3,871
BPO(1)	Canada	—	%	—	%	2,835		5,020
U.K Student Housing(4)	Bermuda	75	%	75	%	1,594		1,190
U.S. Retail(3)	United States	—	%	—	%	1,280		1,274
U.S. Manufactured Housing(4)	United States	76	%	74	%	1,191		932
Korea Mixed-use(4)	South Korea	78	%	78	%	936		936
U.K. Short Stay(4)	United Kingdom	73	%	73	%	756		799
U.S. Hospitality(4)(5)	United States	77	%	—	%	724		—
Other LP Investments	Various	33% - 99%		33% -82%		3,735		5,684















Total						$	18,084	$	19,706

(1) Includes non-controlling interests in BPO subsidiaries which vary from 1% - 100%.

(2) Includes non-controlling interests in various corporate entities of the partnership

(3) Includes non-controlling interests in BPYU subsidiaries.

(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.

(5) Includes non-controlling interests acquired as part of the Manager Arrangement during the fourth quarter of 2022.

The summarized financial information below represents amounts before intercompany eliminations.


	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


	Dec. 31, 2021
									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	$	3,991	$	3,120	$	6,242	$	13,647	$	4,249	$	(17,027)
BPO	7,168		40,341		9,664		16,648		5,232		15,965
U.K. Student Housing	62		3,562		1,378		651		1,190		405
U.S. Retail	1,051		29,534		3,023		11,333		1,274		14,955
U.S. Manufactured Housing	86		3,843		11		2,688		932		298
Korea Mixed-use	3,972		—		83		2,683		936		270
U.K. Short Stay	338		4,701		350		3,586		799		304







Total	$	16,668	$	85,101	$	20,751	$	51,236	$	14,612	$	15,170


	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 income (loss)		Total compre-hensive 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		Distributions		Net income (loss)		Total compre-hensive income
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


	Year ended Dec. 31, 2020
			Attributable to non-controlling interests						Attributable to owners of the partnership
(US$ Millions)	Revenue		Net income (loss)		Total compre-hensive income		Distributions		Net income (loss)		Total compre-hensive income
Corporate Holding Entities	$	455	$	1	$	1	$	—	$	(50)	$	385
BPO	2,079		142		152		69		(37)		7
U.K. Student Housing	129		63		99		8		21		33
U.S. Retail	1,612		(211)		(214)		16		(1,974)		(1,999)
U.S. Manufactured Housing	252		281		281		11		90		90
Korea Mixed-use	268		(187)		(187)		—		(177)		(177)

U.K. Short Stay	189		128		174		5		37		50




Total	$	4,984	$	217	$	306	$	109	$	(2,090)	$	(1,611)