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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. 2)*

Brookfield Homes Corporation
(Name of Issuer)
Common Shares, par value $0.01 per share
(Title of Class of Securities)
112723 10 1
(CUSIP Number)
November 23, 2005
(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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

 
 


 

                     
CUSIP No.
 
112723 10 1 
  Page  
  of   

 

           
1   NAMES OF REPORTING PERSONS:
Brookfield Asset Management Inc. (f/k/a Brascan Corporation)
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
   
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):

  (a)   o
  (b)   þ
     
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):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  51.5%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  CO, HC

 


 

                     
CUSIP No.
 
112723 10 1 
  Page  
  of   

 

           
1   NAMES OF REPORTING PERSONS:
Partners Limited (f/k/a EdperPartners Limited
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
   
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):

  (a)   o
  (b)   þ
     
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):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  51.5%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  CO, HC

 


 

CUSIP No. 112723 10 1
13G

Page 4 of 6 Pages


     
Item 1(a).
  Name of Issuer
 
   
 
  Brookfield Homes Corporation
 
   
Item 1(b).
  Address of Issuer’s Principal Executive Offices
 
   
 
  12865 Pointe Del Mar
 
  Suite 200 
 
  Del Mar, California
 
  92014 
 
   
Item 2(a).
  Name of Person Filing
 
   
 
  Brookfield Asset Management Inc.
 
  Partners Limited
 
   
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 beneficially owns the Common Shares directly. Brookfield’s major shareholder is Partners, which beneficially owns the Common Shares indirectly through Brookfield.
 
  (b)   Percent of Class:
 
      See item 11 of cover pages

 


 

CUSIP No. 112723 10 1
13G

Page 5 of 6 Pages


  (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
13G

Page 6 of 6 Pages


     
Item 10.
  Certifications
 
   
 
  Not applicable
SIGNATURE
     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct as of February 14, 2005.
             
    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