March 26 (Reuters) - Brookfield Property Partners LP BPY.O :
* BROOKFIELD PROPERTY PARTNERS ANNOUNCES PRELIMINARY RESULTS OF SUBSTANTIAL ISSUER BID
* OFFER WAS MADE BY WAY OF A "MODIFIED DUTCH AUCTION" WITH OFFER PRICES RANGING FROM $19.00 TO $21.00 PER UNIT
* BROOKFIELD PROPERTY PARTNERS - PRELIMINARY RESULTS OF CO'S SUBSTANTIAL ISSUER BID TO PURCHASE FOR CANCELLATION UP TO $405 MILLION OF ITS LIMITED PARTNERSHIP UNITS
* EXPECTS TO TAKE UP AND PURCHASE FOR CANCELLATION 14.18 MILLION UNITS AT $21/UNIT
* BASED ON PRELIMINARY RESULTS, 14.18 MILLION UNITS WERE TENDERED UNDER OFFER
* UNDER SEPARATE SUBSTANTIAL ISSUER BID, BROOKFIELD PROPERTY REIT EXPECTS TO ACCEPT FOR PURCHASE 4.7 MILLION OF CLASS A SHARES AT $20.30/SHARE