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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 3)*

Brookfield Homes Corporation
(Name of Issuer)
Common Shares, par value $0.01 per share
(Title of Class of Securities)
112723 10 1
(CUSIP Number)
December 31, 2006
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o   Rule 13d-1(b)

     o   Rule 13d-1(c)

     þ   Rule 13d-1(d)

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“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).

 
 

 

                     
CUSIP No.
  
112723 10 1 
   Page  
2 
   of   
6 

 

           
1   NAMES OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
   
  Brookfield Asset Management Inc. 
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   þ  – Joint filing
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Ontario, Canada
       
  5   SOLE VOTING POWER:
     
NUMBER OF   14,140,893
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   14,140,893
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  14,140,893
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  Not applicable    o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  53.1%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  CO

 

                     
CUSIP No.
  
112723 10 1 
   Page  
3 
   of   
6 

 

           
1   NAMES OF REPORTING PERSONS:
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY):
   
  Partners Limited 
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   þ  – Joint filing
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  Ontario, Canada
       
  5   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   14,140,893
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    14,140,893
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  14,140,893
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  Not applicable    o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  53.1%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  CO

 

                     
CUSIP No.
  
112723 10 1 
   Page  
4 
   of   
6 
Item 1(a).    Name of Issuer
 
    Brookfield Homes Corporation
 
Item 1(b).    Address of Issuer’s Principal Executive Offices
 
    8500 Executive Park Avenue
Suite 300
Fairfax, Virginia
22031
 
Item 2(a).    Name of Person Filing
 
    Brookfield Asset Management Inc. (“Brookfield Asset Management”)
Partners Limited (“Partners”)
 
Item 2(b).    Address of Principal Business Office or, if none, Residence
 
    BCE Place, 181 Bay Street
Suite 300, P.O. Box 762
Toronto, Ontario
M5J 2T3
 
Item 2(c).    Citizenship
 
    See item 4 of cover pages
 
Item 2(d).    Title of Class of Securities
 
    Common Shares, par value $0.01 per share
 
Item 2(e).    CUSIP Number
 
    Common Shares: 112723 10 1
 
Item 3.    Not applicable
 
Item 4.    Ownership
  (a)   Amount Beneficially Owned:
 
      See item 9 of cover pages. Brookfield Asset Management beneficially owns the Common Shares indirectly. Brookfield Asset Management’s principal shareholder is Partners, which beneficially owns the Common Shares indirectly through Brookfield Asset Management.
 
  (b)   Percent of Class:
 
      See item 11 of cover pages

 

 

                     
CUSIP No.
  
112723 10 1 
   Page  
5 
   of   
6 
  (c)   Number of shares as to which such person has:
  (i)   sole power to vote or to direct the vote:
 
      See item 5 of cover pages
 
  (ii)   shared power to vote or to direct the vote:
 
      See item 6 of cover pages
 
  (iii)   sole power to dispose or to direct the disposition of:
 
      See item 7 of cover pages
 
  (iv)   shared power to dispose or to direct the disposition of:
 
      See item 8 of cover pages
Item 5.    Ownership of Five Percent or Less of a Class
 
    Not applicable
 
Item 6.    Ownership of More than Five Percent on Behalf of Another Person
 
    Not applicable
 
Item 7.    Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company
 
    Not applicable
 
Item 8.    Identification and Classification of Members of the Group
 
    Not applicable
 
Item 9.    Notice of Dissolution of Group
 
    Not applicable

 

 

                     
CUSIP No.
  
112723 10 1 
   Page  
6 
   of   
6 
Item 10.    Certifications
 
    Not applicable
SIGNATURE
     After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct as of February 14, 2007.
      
         
  BROOKFIELD ASSET MANAGEMENT INC.
 
 		  
  By:   /s/  Alan V. Dean    
    Name:   Alan V. Dean   
    Title:   Senior Vice President,
Corporate Affairs and Secretary 		  
 
 
  PARTNERS LIMITED
 
 		  
  By:   /s/  Loretta M. Corso    
    Name:   Loretta M. Corso   
    Title:   Secretary