Brookfield Property Partners LP Series 1 Pfd 2026年年度报告和过渡报告

Securities registered or to be registered pursuant to Section12(g) of the Act. None Securities for which there is a reporting obligation pursuant to Section15(d) of the Act. None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the periodcovered by the annual report: As of December 31, 2025, there were outstanding 7,360,000 6.50% Class A Cumulative RedeemablePerpetual Units, Series 1, 10,000,000 6.375% Class A Cumulative Redeemable Perpetual Units, Series 2, 11,500,000 5.750% Class ACumulative Redeemable Perpetual Units, Series 3, 26,571,651 6.25% Class A Cumulative Redeemable Preferred Units, Series 1 and410,493,281 Limited Partnership Units. Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. No Yes If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant toSection13 or 15(d) of the Securities Exchange Act of 1934. Yes No Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90days. Yes Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). Yes No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerginggrowth company. See definition of “large accelerated filer”, “accelerated filer”, and “emerging growth company” in Rule12b-2 of theExchange Act. Large accelerated filerAcceleratedfilerNon-accelerated FilerEmerging growth company☐ If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if theregistrant has elected not to use the extended transition period for complying with any new or revised financial accounting standardsprovided pursuant to Section 13(a) of the Exchange Act Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing: U.S. GAAPInternational Financial Reporting Standards asissuedbytheInternationalAccountingStandardsBoard☒Other If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registranthas elected to follow. Item17 Item18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the ExchangeAct). Yes No☒ Table of Contents PageINTRODUCTION AND USE OF CERTAIN TERMS7SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS10PART I11ITEM 1.IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS11ITEM 2.OFFER STATISTICS AND EXPECTED TIMETABLE11ITEM 3.KEY INFORMATION113.A.[RESERVED]113.B.CAPITALIZATION AND INDEBTEDNESS113.C.REASONS FOR THE OFFER AND USE OF PROCEEDS113.D.RISK FACTORS11ITEM4.INFORMATION ON THE COMPANY384.A.HISTORY AND DEVELOPMENT OF THE COMPANY384.B.BUSINESS OVERVIEW39 4.C.ORGANIZATIONAL STRUCTURE454.D.PROPERTY, PLANTS AND EQUIPMENT48ITEM 4A.UNRESOLVED STAFF COMMENTS48ITEM 5.OPERATING AND FINANCIAL REVIEW AND PROSPECTS495.A.OPERATING RESULTS495.B.LIQUIDITY AND CAPITAL RESOURCES785.C.RESEARCH AND DEVELOPMENT, PATENTS AND LICENSES, ETC.835.D.TREND INFORMATION835.E.CRITICAL ACCOUNTING ESTIMATES84ITEM 6.DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES856.A.DIRECTORS AND SENIOR MANAGEMENT856.B.COMPENSATION876.C.BOARD PRACTICES876.D.EMPLOYEES906.E.SHARE OWNERSHIP916.FDISCLOSURE OF A REGISTRANT’S ACTION TO RECOVER ERRONEOUSLY AWARDEDCOMPENSATION91ITEM 7.MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS917.A.MAJOR SHAREHOLDERS917.B.RELATED PARTY TRANSACTIONS