/------------------------------/
/ OMB APPROVAL /
/------------------------------/
/ OMB Number: 3235-0287 PENDING/
/ Expires: /
/ Estimated average burden /
/ hours per response...... 0.5 /
/------------------------------/
+--------+
| FORM 4 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ Washington, D.C. 20549
[_] Check this box if
no longer subject ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
--------------------------------------------------------------------------------
1. Name and Address of Reporting Person
Miller Leonard
--------------------------------------------------------------------------------
(Last) (First) (Middle)
760 N.W. 107th Avenue
--------------------------------------------------------------------------------
(Street)
Miami FL 33172
--------------------------------------------------------------------------------
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol LNR Property Corporation / LNR
-----------------------------------
3. I.R.S. Identification Number of Reporting Person, if an entity
(voluntary)
--------------
4. Statement for Month/Year Feb-02
---------------------------------------------------
5. If Amendment, Date of Original (Month/Year)
---------------------------------
6. Relationship of Reporting Person to Issuer (Check all applicable)
X Director ___ Officer X 10% Owner ___ Other
--- (give title below) --- (specify below)
----------------------------------------------------------------
7. Individual of Joint/Group Filing
X Form filed by One Reporting Person
----
____ Form filed by More than One Reporting Person
Table I--Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
----------------------------------------------------------------------------------------------------------------------------------
1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of In-
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: direct
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Bene-
Day/ --------------------------------------------- End of Issuer's (D) or ficial
Year) Code / V Amount / A or D / Price Fiscal Year Indirect Owner
(Instr. 3 and 4)(1) (Instr. 4) (Instr. 4)
----------------------------------------------------------------------------------------------------------------------------------
Common Stock - By Limited
Class B 12/31/01 J 160,100 (D) 9,737,830 I Partnerships
------------------------------------------------------------------------------------------------------------------------------------
Common Stock N/A N/A N/A 9,520 I By Savings
Plan
------------------------------------------------------------------------------------------------------------------------------------
Common Stock N/A N/A N/A 400 D
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly. (Print or Type Responses)
(J) Represents a conversion of shares from Class B Common Stock to Class A
Common Stock and a transfer of these shares to the Miller Family Foundation,
Inc., a charitable foundation of which Mr. Miller is the President.
(1) This does not include 46,000 shares of Class B Common Stock and 160,100
shares of Class A Common Stock owned by Miller Family Foundation, Inc., a
charitable foundation of which Mr. Miller is the President.
FORM 4 (continued)
Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
-----------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Derivative Day/Year) (Instr. 3, 4, and 5)
Security
---------------------------------------------------
Code / V (A) (D)
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
6. Date Exer- 7. Title / Amount of 8. Price 9. Number 10. Owner- 11. Nature
cisable and Underlying Securities of of Deriv- ship of In-
Expiration (Instr. 3 and 4) Deriv- ative Form of direct
Date ative Securities Derivative Bene-
(Month/Day/ Security Bene- Security ficial
Year) (Instr. ficially Direct (D) Owner-
5) Owned at or Indirect ship
Title / Amount or End of Year (I) (Instr.
Exer / Expir. # of Shares (Instr. 4) (Instr. 4) 4)
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses:
/s/ Leonard Miller 3/9/2002
-----------------------------------------------------
**Signature of Reporting Person Date
Leonard Miller
* Reporting person denies beneficial ownership of these securities.
** Intentional misstatements or ommissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient.
See Instruction 6 for procedure.
Page 2