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INVESTMENTS IN SUBSIDIARIES (Tables)
 12 Months Ended
Dec. 31, 2021
Interests In Other Entities [Abstract]  
Schedule of interests in subsidiaries
The following table presents the partnership’s material subsidiaries as of December 31, 2021 and 2020:
 
 Jurisdiction of formationEconomic interestVoting interest
 Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020
Subsidiary of the partnership     
Brookfield Property L.P.(1)
Bermuda36 %49 %100 %100 %
Holding entities of the Operating Partnership
BPY Bermuda IV Holdings L.P.Delaware100 %100 %100 %100 %
Brookfield BPY Retail Holdings II Inc.Ontario100 %100 %100 %100 %
BPY Bermuda Holdings LimitedBermuda100 %100 %100 %100 %
BPY Bermuda Holdings II LimitedBermuda100 %100 %100 %100 %
Brookfield BPY Holdings Inc.Ontario100 %100 %100 %100 %
BPY Bermuda Holdings IV LimitedBermuda100 %100 %100 %100 %
BPY Bermuda Holdings IA LimitedBermuda100 %100 %100 %100 %
BPY Bermuda Holdings V LimitedBermuda100 %100 %100 %100 %
BPY Bermuda Holdings VI LimitedBermuda100 %100 %100 %100 %
BPY Bermuda Holdings VII LimitedBermuda100 %100 %100 %100 %
Real estate subsidiaries of the holding entities     
Brookfield Office Properties Inc. (“BPO”)Canada100 %100 %100 %100 %
Brookfield BPY Holdings (Australia) ULC(2)
Canada100 %100 %100 %100 %
BPR Retail Holdings LLC(3)
United States100 %100 %100 %96 %
BSREP CARS Sub-Pooling LLC(4)
United States26 %26 %— %— %
Center Parcs UK(4)
United Kingdom27 %27 %— %— %
BSREP II Aries Pooling LLC(4)
United States26 %26 %— %— %
BSREP India Office Holdings Pte. Ltd.(4)
United States33 %33 %— %— %
BSREP II Retail Upper Pooling LLC(4)
United States50 %50 %33 %33 %
BSREP II Korea Office Holdings Pte. Ltd.(4)
South Korea22 %22 %— %— %
BSREP II PBSA Ltd.(4)
Bermuda25 %25 %— %— %
BSREP II MH Holdings LLC(4)
United States26 %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 49% of the total number of the Operating Partnership’s units at December 31, 2021 and 2020, 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 formationProportion of economic
interests held by non-
controlling interests		Non-controlling interests: Interests of others in operating subsidiaries and properties
(US$ Millions)Dec. 31, 2021Dec. 31, 2020Dec. 31, 2021Dec. 31, 2020
BPO(1)
Canada— %— %$5,020 $4,758 
BPY Subsidiary Holding Entities(2)
Bermuda/Canada— %— %3,871 717 
BPR Retail Holdings LLC(3)
United States— %— %1,274 1,537 
BSREP II PBSA Ltd.(4)
Bermuda75 %75 %1,190 961 
BSREP II Korea Office Holdings Pte. Ltd.(4)
South Korea78 %78 %936 627 
BSREP II MH Holdings LLC(4)
United States74 %74 %932 998 
Center Parcs UK(4)
United Kingdom73 %73 %799 550 
BSREP CARS Sub-Pooling LLC(4)
United States74 %74 %588 889 
BSREP II WS Hotel Holding LLC(4)
United States74 %74 %544 232 
Brookfield Fairfield Multifamily Value Add Fund III (4)
United States70 %70 %383 423 
BSREP II Retail Upper Pooling LLC(4)
United States50 %50 %383 423 
BSREP II Aries Pooling LLC(4)
United States74 %74 %376 425 
Hospitality Investors Trust Inc.(4)
United States74 %74 %376 330 
Brookfield India Real Estate Trust(4)(5)
India82 %— %280 — 
OtherVarious
33% - 77%
33% - 76%
2,754 2,817 
Total   $19,706 $15,687 
(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)    In the first quarter of 2021, Brookfield Strategic Real Estate Partners I (“BSREP I”) and Brookfield Strategic Real Estate Partners II (“BSREP II”) co-sponsored the launch of the Brookfield India Real Estate Trust (“India REIT”) initial public offering. The India REIT was seeded with three assets from an investment in BSREP I and an asset from an investment in BSREP II. BSREP I and BSREP II have an approximate 54% controlling interest in the India REIT. The partnership continues to consolidate its investment in the assets seeded into the India REIT, as the partnership retains a controlling interest via its investment in BSREP I and BSREP II.


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, 2021
     Equity attributable to
(US$ Millions)Current
assets		Non-current
assets		Current
liabilities		Non-current
liabilities		Non-
controlling
interests		Owners of the
entity
BPO$7,168 $40,341 $9,664 $16,648 $5,232 $15,965 
BPY Subsidiary Holding Entities3,991 3,120 6,242 13,647 4,249 (17,027)
BPR Retail Holdings LLC1,051 29,534 3,023 11,333 1,274 14,955 
BSREP II PBSA Ltd.62 3,562 1,378 651 1,190 405 
BSREP II Korea Office Holdings Pte. Ltd.3,972 — 83 2,683 936 270 
BSREP II MH Holdings LLC86 3,843 11 2,688 932 298 
Center Parcs UK338 4,701 350 3,586 799 304 
BSREP CARS Sub-Pooling LLC3,857 — 3,064 — 588 205 
BSREP II WS Hotel Holding LLC1,458 — 746 — 544 168 
Brookfield Fairfield Multifamily Value Add Fund III430 1,004 649 240 383 162 
BSREP II Retail Upper Pooling LLC3941817552887383389
BSREP II Aries Pooling LLC229 662 459 — 376 56 
Hospitality Investors Trust Inc.149 1,698 1,333 11 376 127 
Brookfield India Real Estate Trust38 1,482 52 1,072 280 116 
Total$23,223 $91,764 $27,606 $53,446 $17,542 $16,393 


 
Dec. 31, 2020
     Equity attributable to
(US$ Millions)Current
assets		Non-current
assets		Current
liabilities		Non-current
liabilities		Non-
controlling
interests		Owners of the
entity
BPO$1,886 $43,269 $6,877 $17,248 $4,929 $16,101 
BPR Retail Holdings LLC1,044 30,424 4,738 12,752 1,537 12,441 
BSREP II MH Holdings LLC72 2,797 50 1,502 998 319 
BSREP II PBSA Ltd.60 3,001 1,326 446 961 328 
BSREP CARS Sub-Pooling LLC245 3,774 454 2,363 889 313 
BSREP II Korea Office Holdings Pte. Ltd.100 3,518 56 2,755 627 180 
Center Parcs UK123 4,577 450 3,493 550 207 
BSREP II Aries Pooling LLC162 1,397 405 585 425 144 
BSREP II Retail Upper Pooling LLC216 2,331 684 1,011 423 429 
BSREP India Office Holdings Pte. Ltd.28 2,280 201 1,627 323 157 
Total$3,936 $97,368 $15,241 $43,782 $11,662 $30,619 

Year ended Dec. 31, 2021
  Attributable to non-controlling interestsAttributable to owners of the partnership
(US$ Millions)RevenueNet
income
(loss)		Total
compre-hensive
income		DistributionsNet
income
(loss)		Total
compre-hensive
income
BPO$2,151 $264 $257 $79 $494 $482 
BPY Subsidiary Holding Entities444 (7)(11)389 (122)(48)
BPR Retail Holdings LLC1,511 (22)(22)10 (126)(101)
BSREP II PBSA Ltd.160 204 191 — 69 51 
BSREP II Korea Office Holdings Pte. Ltd.211 364 304 — 105 28 
BSREP II MH Holdings LLC266 572 572 675 183 183 
Center Parcs UK546 (52)26 — (20)108 
BSREP CARS Sub-Pooling LLC255 63 63 100 21 21 
BSREP II WS Hotel Holding LLC209 20 361 56 7 465 
Brookfield Fairfield Multifamily Value Add Fund III404 246 246 346 107 107 
BSREP II Retail Upper Pooling LLC199 (48)(48)— (50)(50)
BSREP II Aries Pooling LLC95 255 255 142 87 87 
Hospitality Investors Trust Inc.230 (17)12 10 (6)32 
Brookfield India Real Estate Trust99 14 8 19 5 (5)
Total$6,780 $1,856 $2,214 $1,826 $754 $1,360 
Year ended Dec. 31, 2020
  Attributable to non-controlling interestsAttributable to owners of the partnership
(US$ Millions)RevenueNet
income
(loss)		Total
compre-hensive
income		DistributionsNet
income
(loss)		Total
compre-hensive
income
BPO$2,079 $142 $152 $69 $(37)$7 
BPR Retail Holdings LLC1,612 (211)(214)16 (1,974)(1,999)
BSREP II MH Holdings LLC252 281 281 11 90 90 
BSREP II PBSA Ltd.129 63 99 8 21 33 
BSREP II CARS Sub-Pooling LLC293 103 101 32 36 35 
Center Parcs UK189 128 174 5 37 50 
BSREP II Aries Pooling LLC284 (137)(112)— (52)(62)
BSREP II Retail Upper Pooling LLC146 75 75 100 26 26 
BSREP II Korea Office Holdings Pte. Ltd.268 (187)(187)— (177)(177)
BSREP India Office Holdings Pte. Ltd.176 (54)(64)11 (26)(31)
Total$5,428 $203 $305 $252 $(2,056)$(2,028)
 
Year ended Dec. 31, 2019
  Attributable to non-controlling interestsAttributable to owners of the partnership
(US$ Millions)RevenueNet
income
(loss)		Total
compre-hensive
income		DistributionsNet
income
(loss)		Total
compre-hensive
income
BPO$2,149 $318 $306 $77 $757 $808 
BPR Retail Holdings LLC1,592 66 67 122 652 657 
BSREP CARS Sub-Pooling LLC317 67 62 48 23 21 
BSREP II PBSA Ltd.148 144 173 85 49 59 
BSREP II MH Holdings LLC239 62 62 — 20 20 
Center Parcs UK658 47 139 320 17 51 
BSREP II Aries Pooling LLC256 75 74 33 26 26 
BSREP II Retail Upper Pooling LLC298 (121)(121)2 (116)(116)
BSREP II Korea Office Holdings Pte. Ltd.219 52 26 131 15 7 
BSREP India Office Holdings Pte. Ltd.187 144 129 181 70 62 
BSREP UA Holdings LLC115 (96)(96)222 (43)(43)
Total$6,178 $758 $821 $1,221 $1,470 $1,552