Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 13)
Brookfield Property Partners L.P.
(Name of Issuer)
Limited Partnership Units
(Title of Class of Securities)
G16249107
(CUSIP Number)
Justin B. Beber
Brookfield Asset Management Inc.
Brookfield Place, Suite 300
181 Bay Street, P.O. Box 762
Toronto, Ontario M5J 2T3
Tel: (416) 956-5182
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
September 30, 2020
(Date of Event Which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. ☐
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.
* | The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. |
The information required on the remainder of this cover page shall not be deemed to be filed for the purposes of Section 18 of the Securities Exchange Act of 1934 (the Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
(Continued on following pages)
CUSIP No. G16249107 | SCHEDULE 13D |
1 | Names of Reporting Persons
BROOKFIELD ASSET MANAGEMENT INC. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
OO | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO | |||||
Number of With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
578,161,586* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
578,161,586* | |||||
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
578,161,586* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
65.2%** | |||||
14 | Type of Reporting Person
| |||||
CO |
* | This amount includes 451,365,017 redemption-exchange units of Brookfield Property L.P. and 3,036,315 shares of Class A Stock of Brookfield Property REIT Inc. See Item 5. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020, (2) 451,365,017 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person and (3) 3,036,315 shares of Class A Stock of Brookfield Property REIT Inc. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 | Names of Reporting Persons
PARTNERS LIMITED | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
OO | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
CANADA | |||||
Number of With |
7 | Sole Voting Power
36,452 | ||||
8 | Shared Voting Power
581,775,032* | |||||
9 | Sole Dispositive Power
36,452 | |||||
10 | Shared Dispositive Power
581,775,032* | |||||
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
581,811,484* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in R ow (11)
65.6%** | |||||
14 | Type of Reporting Person
| |||||
CO |
* | This amount includes 451,365,017 redemption-exchange units of Brookfield Property L.P. and 3,036,315 shares of Class A Stock of Brookfield Property REIT Inc. See Item 5. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020, (2) 451,365,017 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person and (3) 3,036,315 shares of Class A Stock of Brookfield Property REIT Inc. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 | Names of Reporting Persons
PARTNERS VALUE INVESTMENTS LP | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO | |||||
Number of With |
7 | Sole Voting Power
3,613,446* | ||||
8 | Shared Voting Power
0 | |||||
9 | Sole Dispositive Power
3,613,446* | |||||
10 | Shared Dispositive Power
0 | |||||
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
3,613,446* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
0.8%** | |||||
14 | Type of Reporting Person
| |||||
PN |
* | Partners Value Investments LP has sole voting and dispositive power through its 100% owned subsidiary, Partners Value Investments Inc. |
** | Based on a total of 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 | Names of Reporting Persons
BROOKFIELD PROPERTY GROUP HOLDINGS SUB LP | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO | |||||
Number of With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
40,048,497* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
40,048,497* | |||||
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
40,048,497* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
8.7%** | |||||
14 | Type of Reporting Person
| |||||
CO |
* | This amount includes 26,100,760 redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 26,100,760 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 | Names of Reporting Persons
BROOKFIELD PROPERTY GROUP LLC | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
WC | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
DELAWARE | |||||
Number of With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
8,058,617* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
8,058,617* | |||||
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
8,058,617* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
1.9%** | |||||
14 | Type of Reporting Person
| |||||
OO |
* | This amount includes 3,036,315 shares of Class A Stock of Brookfield Property REIT Inc. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 3,036,315 shares of Class A Stock of Brookfield Property REIT Inc. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 | Names of Reporting Persons
BPY I L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
MANITOBA | |||||
Number of With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
53,702,050* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
53,702,050* | |||||
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
53,702,050* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
11.0%** | |||||
14 | Type of Reporting Person
| |||||
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 53,702,050 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 | Names of Reporting Persons
BPG HOLDINGS GROUP (US) HOLDINGS INC. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO | |||||
Number of With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
7,331,926* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
7,331,926* | |||||
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
7,331,926* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
1.7%** | |||||
14 | Type of Reporting Person
| |||||
CO |
* | This amount includes 1,906,781 redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 1,906,781 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 | Names of Reporting Persons
BPG HOLDINGS I L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO | |||||
Number of With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
60,000,000* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
60,000,000* | |||||
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
60,000,000* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
12.2%** | |||||
14 | Type of Reporting Person
| |||||
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 60,000,000 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 | Names of Reporting Persons
BPG HOLDINGS II L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO | |||||
Number of With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
15,781,724* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
15,781,724* | |||||
11 |
Aggregate Amount Beneficially Owned by Each Re porting Person
15,781,724* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
3.5%** | |||||
14 | Type of Reporting Person
| |||||
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 15,781,724 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPG HOLDINGS III L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
51,419,088* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
51,419,088* |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
51,419,088* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
10.6%** | |||||
14 | Type of Reporting Person
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 51,419,088 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPG HOLDINGS IV L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
60,319,088* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
60,319,088* |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
60,319,088* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Per cent of Class Represented by Amount in Row (11)
12.2%** | |||||
14 | Type of Reporting Person
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 60,319,088 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPGH NEW HLP HOLDINGS LP | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
18,715,912* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
18,715,912* |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
18,715,912* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
4.1%** | |||||
14 | Type of Reporting Person
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 18,715,912 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPG HOLDINGS ALBERTA L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
50,000,000* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
50,000,000* |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
50,000,000* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
10.4%** | |||||
14 | Type of Reporting Person
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partners hip units of the Issuer issued and outstanding as of September 30, 2020 and (2) 50,000,000 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPG INVESTMENT HOLDINGS L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
8,387,345* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
8,387,345* |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
8,387,345* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
1.9%** | |||||
14 | Type of Reporting Person
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 8,387,345 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPG FINANCE INVESTOR L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
71,000,000* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
71,000,000* |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
71,000,000* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
14.1%** | |||||
14 | Type of Reporting Person
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 71,000,000 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPGUSH L.P. (ONTARIO) | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
9,000,000* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
9,000,000* |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
9,000,000* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
2.0%** | |||||
14 | Type of Reporting Person
PN |
* | Represents redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 9,000,000 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPY (2013) CORP. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐& #xA0; (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
720,064 | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
720,064 |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
720,064 | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
0.2%* | |||||
14 | Type of Reporting Person
CO |
* | Based on a total of 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BROOKFIELD GLOBAL PROPERTY ADVISOR LIMITED | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ENGLAND AND WALES |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
75,000 | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
75,000 |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
75,000 | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
0.02%* | |||||
14 | Type of Reporting Person
PN |
* | Based on a total of 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPGH SUB INC. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
22,713,516 | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
22,713,516 |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
22,713,516 | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
5.3%* | |||||
14 | Type of Reporting Person
CO |
* | Based on a total of 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BROOKFIELD US HOLDINGS INC. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person W ith |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
69,250,545* | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
69,250,545* |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
69,250,545* | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
15.1%* | |||||
14 | Type of Reporting Person
CO |
* | This amount includes 25,032,269 redemption-exchange units of Brookfield Property L.P. |
** | Based on a total of (1) 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020 and (2) 25,032,269 redemption-exchange units of Brookfield Property L.P. owned by the Reporting Person. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BPGUSH NEW SUBCO LP | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
WC | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
ONTARIO |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
6,277,877 | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
6,277,877 |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
6,277,877 | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
1.5%* | |||||
14 | Type of Reporting Person
PN |
* | Based on a total of 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BROOKFIELD REAL ESTATE PARTNERS (A) SIB L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
DELAWARE |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
6,436,699 | |||||
9 | Sole Dispositive Power
0 | |||||
0; | 10 | Shared Dispositive Power
6,436,699 |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
6,436,699 | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
1.5%* | |||||
14 | Type of Reporting Person
PN |
* | Based on a total of 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BROOKFIELD REAL ESTATE PARTNERS (Q) SIB L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
N/A | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
DELAWARE |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
13,376,929 | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
13,376,929 |
11 |
Aggregate Amount Benefi cially Owned by Each Reporting Person
13,376,929 | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
3.1%* | |||||
14 | Type of Reporting Person
PN |
* | Based on a total of 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020. |
CUSIP No. G16249107 | SCHEDULE 13D |
1 |
Names of Reporting Persons
BROOKFIELD REAL ESTATE PARTNERS (K) SIB HOLDINGS L.P. | |||||
2 | Check the Appropriate Box if a Member of a Group (a) ☐ (b) ☒
| |||||
3 | SEC Use Only
| |||||
4 | Source of Funds
WC | |||||
5 | Check Box if Disclosure of Legal Proceedings Is Required Pursuant to Item 2(d) or 2(e)
☐ | |||||
6 | Citizenship or Place of Organization
CAYMAN ISLANDS |
Number of Shares Beneficially Owned by Each Reporting Person With |
7 | Sole Voting Power
0 | ||||
8 | Shared Voting Power
5,546,709 | |||||
9 | Sole Dispositive Power
0 | |||||
10 | Shared Dispositive Power
5,546,709 |
11 |
Aggregate Amount Beneficially Owned by Each Reporting Person
5,546,709 | |||||
12 | Check Box if the Aggregate Amount in Row (11) Excludes Certain Shares
☐ | |||||
13 | Percent of Class Represented by Amount in Row (11)
1.3%* | |||||
14 | Type of Reporting Person
PN |
* | Based on a total of 432,825,572 limited partnership units of the Issuer issued and outstanding as of September 30, 2020. |
EXPLANATORY NOTE
This Amendment No. 13 to Schedule 13D (this Amendment No. 13) is being filed to report the acquisition by Brookfield Asset Management Inc. (BAM) and its affiliates of an aggregate of 12,555,755 limited partnership units (the Units) of Brookfield Property Partners L.P. (the Issuer or BPY) in accordance with the terms of the Equity Commitment Agreement, dated July 2, 2020 (the Equity Commitment), between BAM, the Issuer and Brookfield Property L.P. (Property LP).
Information reported and defined terms used in the original Schedule 13D, as amended (this Schedule 13D), remain in effect except to the extent that they are amended or superseded by information or defined terms contained in this Amendment No. 13. This Amendment No. 13 also reflects the addition of Brookfield BPGUSH New Subco LP and Brookfield Property Group LLC as Reporting Persons.
2. Identity and Background.
Item 2 of this Schedule 13D is hereby amended and supplemented as follows:
Brookfield Property Group LLC, a Delaware limited liability company (BPG LLC) and BPGUSH New Subco LP, an Ontario limited partnership (BPGUSH Subco) are each added as Reporting Persons to this Schedule 13D. The general partner of BPGUSH Subco is BPG Holdings Group (US) GP Inc.
The principal business of each of BPG LLC and BPGUSH Subco is to serve as a holding entity.
Schedule I hereto sets forth a list of all the directors and executive officers (to be included as Scheduled Persons), and their respective principal occupations, addresses, and citizenships, of BPG LLC.
3. Source and Amendment of Funds or Other Consideration.
Item 3 of this Schedule 13D is hereby supplemented to include the following information:
From September 15, 2020 until September 28, 2020, the Issuer took up and purchased for cancellation in open market transactions on the Toronto Stock Exchange and the Nasdaq Stock Market an aggregate of 9,949,466 Units at average prices ranging from $10.88 to $11.83 per Unit in accordance terms of the Issuers previously announced normal course issuer bid (NCIB). During the same period, Brookfield Property REIT Inc. (BPYU), a subsidiary of the Issuer, took up and purchased for cancellation in open market transactions on the Nasdaq Stock Market an aggregate of 2,606,289 shares of Class A Stock of BPYU (BPYU Shares) at average prices ranging from $11.02 to $12.01 per share. Following the take up of the aforementioned Units and BPYU Shares, on September 30, 2020, the Issuer issued 5,022,302 Units to BPG LLC, 6,277,877 Units to BPGUSH Subco, and 1,255,576 Units to K SIB LP for aggregate consideration of approximately $142.6 million (average of $11.36 per Unit), each in accordance with the terms of the Equity Commitment. The source of funds used by BPG LLC, BPGUSH Subco and K SIB LP to purchase these Units was working capital of BPG LLC, BPGUSH Subco and K SIB LP, respectively.
4. Purpose of the Transaction.
Item 4 of this Schedule 13D is hereby supplemented to include the information set forth in Item 3 above and Item 6 below.
5. Interest in Securities of the Issuer.
Items 5(a)-(c) of this Schedule 13D are hereby amended and restated in their entirety as follows:
(a)-(b) As of September 30, 2020, Partners Value Investments LP (PVI LP), which has sole voting and dispositive power through its 100% owned subsidiary Partners Value Investments Inc., may be deemed to be the beneficial owner of 3,613,446 Units and such Units represent 0.8% of the issued and outstanding Units. BAM may be deemed to be the beneficial owner of 123,760,254 Units and Partners Limited (Partners) may be deemed to be the beneficial owner of 127,410,152 Units (including the Units directly owned by Partners and beneficially owned by BAM and PVI LP), and such Units constitute approximately 28.6% % and 29.4%, respectively, of the issued and outstanding Units. The Units deemed to be beneficially owned by BAM include 5,425,145 Units beneficially owned by BPG Holdings Group (US) Holdings Inc. (BPGHG(US)), 720,064 Units beneficially owned by BPY (2013) Corp., 75,000 Units beneficially owned by Brookfield Global Property Advisor Limited, 44,218,276 Units beneficially owned by Brookfield US Holdings Inc. (BUSHI), 22,713,516 Units beneficially owned by BPGH Sub Inc. (BPGH Sub), 13,947,737 Units owned by Brookfield Property Group Holdings Sub LP (Sub LP), 6,436,699 Units owned by Brookfield Real Estate Partners (A) SIB L.P. (A SIB LP), 13,376,929 Units owned by Brookfield Real Estate Partners (Q) SIB L.P. (Q SIB LP), 4,291,133 Units owned by Brookfield Real Estate Partners (K) SIB Holdings L.P. (K SIB LP), 5,022,302 Units owned by BPG LLC and 6,277,877 Units owned by BPGUSH Subco. BAM also holds, through BPG LLC, 3,036,315 shares of BPYU Class A Stock. Holders of BPYU Class A Stock have the right to exchange each share of BPYU Class A Stock for one Unit, or the cash equivalent of one Unit, at the election of BPY. The BPYU Class A Stock owned by BPG LLC represent approximately 0.7% of the Units assuming that all of the shares of BPYU Class A Stock held by BPG LLC were exchanged for Units in accordance with the terms of the BPYU certificate of incorporation.
In addition, BAM holds, through BPY I L.P., BPY II L.P., BPGHG(US), BPGH Sub, BPG Holdings I L.P., BPG Holdings II L.P., BPG Holdings III L.P., BPG Holdings IV L.P., BPG Holdings Alberta L.P., BPG Investment Holdings L.P., BPG Finance Investor L.P., BPGUSH L.P. (Ontario), BUSHI, Sub LP and BPGH New HLP Holdings LP, an aggregate of 451,365,017 redemption-exchange units of Property LP. Such redemption-exchange units held indirectly by BAM represent 100% of the redemption-exchange units of Property LP and approximately 51.1% of the Units assuming that all of the redemption-exchange units of Property LP were exchanged for Units pursuant to the redemption-exchange mechanism.
Assuming that (i) all of the redemption-exchange units of Property LP were exchanged for Units pursuant to the redemption-exchange mechanism, and (ii) all of the shares of BPYU Class A Stock held by BPG LLC were exchanged for Units in accordance with the terms of the BPYU certificate of incorporation, as of September 30, 2020, BAM may be deemed to be the beneficial owner of 578,161,586 Units and Partners may be deemed to be the beneficial owner of 581,811,484 Units, and such Units would constitute approximately 65.2% and 65.6%, respectively, of the issued and outstanding Units.
PVI LP, which has sole voting and dispositive power through its 100% owned subsidiary Partners Value Investments Inc., may be deemed to have the sole power to vote or direct the Units beneficially owned by it. The Units deemed to be beneficially owned by Partners include the Units directly held by Partners and Units deemed to be beneficially owned by BAM and PVI LP. Partners may be deemed to have shared power with BAM and PVI LP to vote or direct the vote of the Units beneficially owned by it or to dispose of such Units.
On May 13, 2020, BAM Voting Trust (the Trust) entered into an agreement with Partners to purchase all of BAMs issued and outstanding Class B Limited Voting Shares (the BAM Class B Shares). Closing of this transaction is subject to customary consents and regulatory approvals being obtained, following which the BAM Class B Shares will be transferred from Partners to the Trust. Upon completion of this transaction, Partners will cease to be deemed a beneficial owner of the Units beneficially owned by BAM.
(c) Other than the transactions described in this Amendment No. 13 and this Schedule 13D, there have been no transactions by the Reporting Persons in the Units during the past 60 days.
6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
Item 6 of this Schedule 13D is hereby supplemented to include the information set forth in Item 3 above and the following:
As of September 30, 2020, the amount remaining under the Equity Commitment is approximately $343.5 million.
7. Material to be Filed as Exhibits.
Item 7 of this Schedule 13D is hereby amended to add the following exhibit:
Exhibit 11. Joint Filing Agreement, dated as of October 5, 2020
SIGNATURE
After reasonable inquiry and to the best of each undersigneds knowledge and belief, the undersigned certifies as to itself that the information set forth in this statement is true, complete and correct.
Dated: October 5, 2020
BROOKFIELD ASSET MANAGEMENT INC. | ||
By: | /s/ Jessica Diab | |
Name: Jessica Diab | ||
Title: Vice President |
PARTNERS LIMITED | ||
By: | /s/ Brian Lawson | |
Name: Brian Lawson | ||
Title: President |
PARTNERS VALUE INVESTMENTS LP, by its general partner, PVI MANAGEMENT INC. | ||
By: | /s/ Leslie Yuen | |
Name: Leslie Yuen | ||
Title: Director of Finance |
BROOKFIELD PROPERTY GROUP HOLDINGS SUB LP, by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPY I L.P., by its general partner, BPY GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPG HOLDINGS GROUP (US) HOLDINGS INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPG HOLDINGS I L.P., by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPG HOLDINGS II L.P., by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPG HOLDINGS III L.P., by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPG HOLDINGS IV L.P., by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPG HOLDINGS ALBERTA L.P., by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPG INVESTMENT HOLDINGS L.P., by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPG FINANCE INVESTOR L.P., by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPGUSH L.P. (ONTARIO), by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPGH NEW HLP HOLDINGS LP, by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPGUSH NEW SUBCO LP, by its general partner, BPG HOLDINGS GROUP (US) GP INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BPY (2013) CORP. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BROOKFIELD GLOBAL PROPERTY ADVISOR LIMITED | ||
By: | /s/ Philippa Elder | |
Name: Philippa Elder | ||
Title: Director and Secretary |
BPGH SUB INC. | ||
By: | /s/ Christopher Wong | |
Name: Christopher Wong | ||
Title: Vice President |
BROOKFIELD US HOLDINGS INC. | ||
By: | /s/ Katayoon Sarpash | |
Name: Katayoon Sarpash | ||
Title: Vice President and Secretary |
BROOKFIELD REAL ESTATE PARTNERS (A) SIB L.P., by its general partner, BROOKFIELD REAL ESTATE PARTNERS (A) SIB GP LIMITED | ||
By: | /s/ Jane Sheere | |
Name: Jane Sheere | ||
Title: Secretary |
BROOKFIELD REAL ESTATE PARTNERS (Q) SIB L.P., by its general partner, BROOKFIELD REAL ESTATE PARTNERS (Q) SIB GP LIMITED | ||
By: | /s/ Jane Sheere | |
Name: Jane Sheere | ||
Title: Secretary |
BROOKFIELD REAL ESTATE PARTNERS (K) SIB HOLDINGS L.P., by its general partner, BROOKFIELD REAL ESTATE PARTNERS (K) GP LIMITED | ||
By: | /s/ Jane Sheere | |
Name: Jane Sheere | ||
Title: Secretary |
BROOKFIELD PROPERTY GROUP LLC | ||
By: | /s/ Polina Kushelev | |
Name: Polina Kushelev | ||
Title: Vice President |
SCHEDULE I
Brookfield Property Group LLC
Name and Position of
|
Principal Business |
Principal Occupation or |
Citizenship | |||
Brian W. Kingston, Director and Chief Executive Officer |
250 Vesey Street, 15th Floor, New York, NY 10281-1023 U.S.A. | Managing Partner, Chief Executive Officer Real Estate of BAM | Canada | |||
Bryan Davis, Director and Chief Financial Officer | 250 Vesey Street, 15th Floor, New York, NY 10281-1023 U.S.A. | Managing Partner of BAM | Canada | |||
Brett Fox, Director and Managing Partner | 250 Vesey Street, 15th Floor, New York, NY 10281-1023 U.S.A. | Managing Partner of BAM | U.S.A. |