Brookfield Property Partners L P 's

The competitive landscape includes Brookfield and its affiliates, such as the BPY General Partner and other Brookfield Accounts. These entities have investment mandates that overlap with and may compete against the partnership's activities. Brookfield Accounts typically have priority over the partnership in investment opportunities aligned with their mandates. The limited partnership agreement permits affiliates of the BPY General Partner to engage in competing activities and limits their fiduciary duties, allowing conflicts of interest to be managed in ways that may not favor preferred unitholders.