-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UPbEjQMX5/xY/UEnWaChZn11ARDKVRmVU1Rc/YG3h71eeo/N4P0xTSqzgLcyF8IT 3Qnob1K4C2I70Api3Enr2A== 0001012168-98-000066.txt : 19980930 0001012168-98-000066.hdr.sgml : 19980930 ACCESSION NUMBER: 0001012168-98-000066 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980929 SROS: AMEX GROUP MEMBERS: ANDREW B. FREMDER GROUP MEMBERS: CALIFORNIA HOUSING FINANCE, L.P. GROUP MEMBERS: CALIFORNIA HOUSING FINANCE, LLC GROUP MEMBERS: DAVID I. COHEN GROUP MEMBERS: ENRIQUE H. BOILINI GROUP MEMBERS: FARALLON CAPITAL MANAGEMENT LLC /ADV GROUP MEMBERS: JASON M. FISH GROUP MEMBERS: JOSEPH F. DOWNES GROUP MEMBERS: MERIDEE A. MOORE GROUP MEMBERS: STEPHEN L. MILLHAM GROUP MEMBERS: THOMAS F. STEYER GROUP MEMBERS: WILLIAM F. MELLIN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CAPITAL PACIFIC HOLDINGS INC CENTRAL INDEX KEY: 0000813945 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 952956559 STATE OF INCORPORATION: DE FISCAL YEAR END: 0228 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-39237 FILM NUMBER: 98717154 BUSINESS ADDRESS: STREET 1: 4100 MACARTHUR BLVD. STREET 2: SUITE 200 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 BUSINESS PHONE: 714622-8400 MAIL ADDRESS: STREET 1: 4100 MACARTHUR BLVD SUITE 200 STREET 2: SUITE 200 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 FORMER COMPANY: FORMER CONFORMED NAME: PETERS J M CO INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FARALLON CAPITAL MANAGEMENT LLC /ADV CENTRAL INDEX KEY: 0001012168 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 943240279 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: ONE MARITIME PLZ STREET 2: STE 1325 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4154212132 MAIL ADDRESS: STREET 1: ONE MARITIME PLAZA SUITE 1325 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 SC 13D/A 1 AMENDMENT NO. 5 TO SCHEDULE 13D WITH EXHIBIT SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (Amendment No. 5) Capital Pacific Holdings, Inc. (Name of Issuer) Common Stock, par value $.10 (Title of Class of Securities) 14040M104 (CUSIP Number) Thomas F. Steyer Farallon Capital Management, L.L.C. One Maritime Plaza, Suite 1325 San Francisco, California 94111 (415) 421-2132 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 28, 1998 (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 that 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. (Continued on following pages) Page 1 of 24 Pages Exhibit Index Found on Page 22 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) California Housing Finance, L.P. - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* PN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 2 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) California Housing Finance, LLC - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* OO - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 3 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Farallon Capital Management, L.L.C. - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IA, OO - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 4 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Enrique H. Boilini - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 Argentina - ----------------------========================================================= NUMBER OF 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 5 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) David I. Cohen - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 South Africa - ----------------------========================================================= NUMBER OF 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 6 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Joseph F. Downes - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 United States - ----------------------========================================================= NUMBER OF 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 7 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Jason M. Fish - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 United States - ----------------------========================================================= NUMBER OF 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 8 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Andrew B. Fremder - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 United States - ----------------------========================================================= NUMBER OF 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 9 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) William F. Mellin - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 United States - ----------------------========================================================= NUMBER OF 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 10 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Stephen L. Millham - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 United States - ----------------------========================================================= NUMBER OF 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 11 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Meridee A. Moore - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 United States - ----------------------========================================================= NUMBER OF 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 12 of 24 Pages 13D =============================== CUSIP No. 14040M104 =============================== - ---------====================================================================== 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) Thomas F. Steyer - ---------====================================================================== 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ X ] - ---------====================================================================== 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 United States - ----------------------========================================================= NUMBER OF 7 SOLE VOTING POWER SHARES -0- ------========================================================= BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 2,809,851 ------========================================================= EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- ------========================================================= PERSON WITH 10 SHARED DISPOSITIVE POWER 2,809,851 - ----------------------========================================================= 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,809,851 - ---------====================================================================== 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ] - ---------====================================================================== 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.6 % - ---------====================================================================== 14 TYPE OF REPORTING PERSON* IN - ---------====================================================================== *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 13 of 24 Pages This Amendment No. 5 to Schedule 13D amends the Schedule 13D initially filed on September 30, 1997 (collectively, with all amendments thereto, the "Schedule 13D"). Item 4. Purpose of the Transaction. Item 4 of the Schedule 13D is amended by adding the following two paragraphs immediately prior to the last paragraph of Item 4: A representative of the Reporting Persons has discussed with Mr. Hadi Makarechian, the chairman of the Company, the possibility of certain of the Reporting Persons acquiring all or a substantial part of the Company's interests in certain commercial real estate, mixed use and land development properties (the "Projects"). The Reporting Persons or such affiliates already hold a majority of the ownership interests in the entities that own and operate such Projects. Mr. Makarechian suggested that FCMLLC notify the Board of Directors (the "Board") of the Company of any interest that the Reporting Persons may have in pursuing such an acquisition. FCMLLC, on behalf of certain Reporting Persons and certain of their affiliates, has sent to the Board a letter expressing a preliminary interest in such an acquisition. A copy of that letter (the "Projects Letter") is annexed as Exhibit G to this Schedule 13D. Certain of the Reporting Persons may discuss such an acquisition with the Board or with Company management. Any such acquisition would be subject to numerous conditions, including, without limitation, agreement on price, structuring of the transaction, the execution and delivery of mutually acceptable documentation and other customary conditions for a transaction of this type. In addition, such a transaction would be conditioned on reaching an acceptable arrangement with Mr. Hadi Makarechian, or an entity controlled by him, to manage such Projects. In addition, a representative of the Reporting Persons has also discussed with Mr. Makarechian the possibility of separating the Company's home building business from its land development and commercial construction businesses . If the Company wishes to pursue any such Page 14 of 24 Pages transaction, the Reporting Persons may discuss with the Board or with Company management various potential transactions to effect such a separation. Item 5. Interest in Securities of the Issuer. Item 5 of the Schedule 13D is amended and restated in its entirety as follows: A. California Housing Finance, L.P. (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for CHF is incorporated herein by reference. The percentage amount set forth in Row 13 of such cover page and of each other cover page filed herewith is calculated based upon 14,305,511 Shares outstanding as of July 1, 1998, as reported by the Company in its Form 10-Q for the period ended May 31, 1998, filed with the Securities and Exchange Commission on July 15, 1998. (c) There have been no transactions in the Shares in the last 60 days. (d) CHFLLC, as general partner of CHF, has the power to direct the affairs of CHF, including the disposition of the proceeds of the sale of the Shares owned by CHF. FCMLLC, as manager of CHFLLC, has the power to direct the affairs of CHFLLC, including the disposition of the proceeds of the sale of the Shares. Steyer is the senior managing member of FCMLLC, and Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham and Moore are managing members of FPLLC. (e) Not applicable. B. California Housing Finance, LLC (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for CHFLLC is incorporated herein by reference. (c) None. (d) FCMLLC, as manager of CHFLLC, has the power to direct the affairs of CHFLLC, including the disposition of the proceeds of the sale of the Shares. Steyer is the senior managing member of FCMLLC, and Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham and Moore are managing members of FCMLLC. (e) Not applicable. Page 15 of 24 Pages C. Farallon Capital Management, L.L.C. (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for FCMLLC is incorporated herein by reference. (c) None. (d) Steyer is the senior managing member of FCMLLC and Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham and Moore are managing members of FCMLLC. (e) Not applicable. D. Enrique H. Boilini (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for Boilini is incorporated herein by reference. (c) None. (d) Boilini is a managing member of FCMLLC. (e) Not applicable. E. David I. Cohen (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for Cohen is incorporated herein by reference. (c) None. (d) Cohen is a managing member of FCMLLC. (e) Not applicable. F. Joseph F. Downes (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for Downes is incorporated herein by reference. (c) None. (d) Downes is a managing member of FCMLLC. (e) Not applicable. Page 16 of 24 Pages G. Jason M. Fish (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for Fish is incorporated herein by reference. (c) None. (d) Fish is a managing member of FCMLLC. (e) Not applicable. H. Andrew B. Fremder (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for Fremder is incorporated herein by reference. (c) None. (d) Fremder is a managing member of FCMLLC. (e) Not applicable. I. William F. Mellin (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for Mellin is incorporated herein by reference. (c) None. (d) Mellin is a managing member of FCMLLC. (e) Not applicable. J. Stephen L. Millham (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for Millham is incorporated herein by reference. (c) None. (d) Millham is a managing member of FCMLLC. (e) Not applicable. Page 17 of 24 Pages K. Meridee A. Moore (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for Moore is incorporated herein by reference. (c) None. (d) Moore is a managing member of FCMLLC. (e) Not applicable. L. Thomas F. Steyer (a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the cover page hereto for Steyer is incorporated herein by reference. (c) None. (d) Steyer is the senior managing member of FCMLLC. (e) Not applicable. The Shares reported hereby for CHF are owned directly by it. CHFLLC, as general partner of CHF, may be deemed to be the beneficial owner of all Shares owned by CHF. FCMLLC, as manager of CHFLLC, may be deemed to be the beneficial owner of all Shares owned by CHF. Each of Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham, Moore and Steyer may be deemed, as a managing member of FCMLLC, to be the beneficial owner of all Shares owned by CHF. Each of CHFLLC, FCMLLC, Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham, Moore and Steyer hereby disclaims any beneficial ownership of any such Shares. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Item 6 of the Schedule 13D is amended by adding the following two paragraphs immediately prior to the last paragraph of Item 6: As described in Item 4 above, a representative of the Reporting Persons has discussed with Mr. Hadi Makarechian, the chairman of the Company, the possibility of certain of the Reporting Persons acquiring all or a substantial part of the Company's interests in the Projects. The Reporting Persons or such affiliates already hold a majority of the ownership interests in the entities that own and operate such Projects. Mr. Makarechian suggested that FCMLLC notify the Board of any Page 18 of 24 Pages interest that the Reporting Persons may have in pursuing such an acquisition. FCMLLC, on behalf of certain Reporting Persons and certain of their affiliates has sent to the Board a letter expressing a preliminary interest in such an acquisition. A copy of that letter (the "Projects Letter") is annexed as Exhibit G to this Schedule 13D. Certain of the Reporting Persons may discuss such an acquisition with the Board or with Company management. Any such acquisition would be subject to numerous conditions, including, without limitation, agreement on price, structuring of the transaction, the execution and delivery of mutually acceptable documentation and other customary conditions for a transaction of this type. In addition, such a transaction would be conditioned on reaching an acceptable arrangement with Mr. Hadi Makarechian, or an entity controlled by him, to manage such Projects. In addition, a representative of the Reporting Persons has also discussed with Mr. Makarechian the possibility of separating the Company's home building business from its land development and commercial construction businesses . If the Company wishes to pursue any such transaction, the Reporting Persons may discuss with the Board or with Company management various potential transactions to effect such a separation. Item 7. Materials to be Filed as Exhibits. Item 7 of the Schedule 13D is amended as follows: There is filed herewith as Exhibit G to the Schedule 13D a copy of the Projects Letter, as described in Item 4 and Item 6 above. Page 19 of 24 Pages SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: September 29, 1998 CALIFORNIA HOUSING FINANCE, L.P. By: California Housing Finance, LLC, its General Partner By: Farallon Capital Management, L.L.C. its Manager /s/ Thomas F. Steyer By: Thomas F. Steyer, Senior Managing Member CALIFORNIA HOUSING FINANCE, LLC By: Farallon Capital Management, L.L.C. its Manager /s/ Thomas F. Steyer By: Thomas F. Steyer, Senior Managing Member FARALLON CAPITAL MANAGEMENT, L.L.C. /s/ Thomas F. Steyer By: Thomas F. Steyer, Senior Managing Member [continued on next page] Page 20 of 24 Pages [continued from prior page] /s/ Thomas F. Steyer Thomas F. Steyer, individually and as attorney-in-fact for each of Enrique H. Boilini, David I. Cohen, Joseph F. Downes, Jason M. Fish, Andrew B. Fremder, William F. Mellin, Stephen L. Millham, and Meridee A. Moore. The Powers of Attorney, each executed by Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham and Moore authorizing Steyer to sign and file this Schedule 13D on each person's behalf, which were filed with Amendment No. 1 to the Schedule 13D filed with the Securities and Exchange Commission on September 26, 1997, by such Reporting Persons with respect to the Common Stock of Sphere Drake Holdings Limited, are hereby incorporated by reference. Page 21 of 24 Pages EXHIBIT INDEX Exhibit G Letter to Board of Directors of the Company (The Projects Letter) page 22 of 24 Pages FARALLON CAPITAL MANAGEMENT, L.L.C. One Maritime Plaza, Suite 1325 San Francisco, California 94111 September 28, 1998 The Board of Directors c/o Mr. Hadi Makarechian Capital Pacific Holdings, Inc. 4100 MacArthur Boulevard, Suite 200 Newport Beach, California 92660 Gentlemen: As you may know, we have had discussions with Mr. Hadi Makarechian, the chairman of Capital Pacific, about our purchase, through one or more affiliated entities, of all or a substantial part of Capital Pacific's interests (the "Interests") in the various recently acquired commercial real estate, mixed use and land development joint ventures including those listed below (the "Joint Ventures"). As you know, certain of our affiliates have contributed 99% of these Joint Ventures' capital, entitling them to a preferred return and a contingent profit participation in the Joint Ventures after the preferred return. The Interests of Capital Pacific, therefore, in general terms, consist of 1% of the existing capital in the Joint Ventures and contingent profit participations based on the future performance of these Joint Ventures. Mr. Makarechian suggested we directly notify Capital Pacific's board of directors of any interest we may have in pursuing this acquisition. This letter expresses our preliminary interest in acquiring the Interests. Date of Joint Venture Project Acquisition Joint Venture by Capital Entity Pacific Dana Point 12/15/97 CPHDP, LLC Vista Palisades 3/12/98 CPHVP, LLC Huntington Beach 4/6/98 CPHAHB, LLC Airport Office & 4667 MacArthur 4/22/98 CPHAOB, LLC Buildings Redhill & Summit Office Buildings 5/12/98 and CPHROB, LLC 6/30/98 Monarch Beach (Ritz Pointe) 6/19/98 CPHMB, LLC Monarch Beach (Resorts 1) 7/15/98 CPHR-1, LLC Page 23 of 24 Pages If you have an interest in discussing a potential acquisition by us, please let us know. Whether it is worthwhile to consider such a transaction will depend on the price at which CPH would be interested in entering into the transaction and the other terms and conditions CPH might require. We suggest that CPH obtain an independent evaluation of the price for such Interests. To the extent we can reach an agreement on price, our interest in pursuing such a transaction would, of course, be conditioned on our also agreeing on the structure of the transaction and other terms and conditions of the transaction and entering into acceptable definitive documentation, as well as overall market conditions at the time. Our interest would also be conditioned upon reaching an acceptable arrangement with Mr. Hadi Makarechian, or an entity controlled by him, to manage the Joint Ventures. Please feel free to contact the undersigned with any questions regarding the contents of this letter. Yours sincerely, FARALLON CAPITAL MANAGEMENT, L.L.C. By: /s/ Stephen L. Millham Stephen L. Millham Managing Member Page 24 of 24 Pages -----END PRIVACY-ENHANCED MESSAGE-----