-----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, HpDpW2PimpQ7cOM2XcVzrAQfDfsPWOJM5HNyCckYMR2dLkLSY9I+Qun4lLwiP2mI Gxlo5ewkvj/+Jqxef90O9g== 0001005477-00-000516.txt : 20000204 0001005477-00-000516.hdr.sgml : 20000204 ACCESSION NUMBER: 0001005477-00-000516 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20000203 GROUP MEMBERS: A.B. EDELMAN MANAGEMENT COMPANY, INC. GROUP MEMBERS: ASHER B. EDELMAN & ASSOCIATES LLC GROUP MEMBERS: EDELMAN ASHER B GROUP MEMBERS: EDELMAN VALUE FUND, LTD. GROUP MEMBERS: EDELMAN VALUE PARTNERS, L.P. GROUP MEMBERS: FUND, LTD. GROUP MEMBERS: HEDGED CLASS SHARES GROUP MEMBERS: WESTON CAPITAL MANAGEMENT LLC GROUP MEMBERS: WIMBLEDON EDELMAN SELECT OPPORTUNITIES HEDGED GROUP MEMBERS: WIMBLEDON FUND, LTD., EDELMAN SELECT OPPORTUNITIES SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CALIFORNIA COASTAL COMMUNITIES INC CENTRAL INDEX KEY: 0000840216 STANDARD INDUSTRIAL CLASSIFICATION: LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES) [6552] IRS NUMBER: 020426634 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-39991 FILM NUMBER: 522937 BUSINESS ADDRESS: STREET 1: 6 EXECUTIVE CIRCLE STREET 2: SUITE 250 CITY: IRVIN STATE: CA ZIP: 92614 BUSINESS PHONE: 9492507700 MAIL ADDRESS: STREET 1: 6 EXECUTIVE CIRCLE STREET 2: SUITE 250 CITY: IRVIN STATE: CA ZIP: 92614 FORMER COMPANY: FORMER CONFORMED NAME: KOLL REAL ESTATE GROUP INC DATE OF NAME CHANGE: 19931006 FORMER COMPANY: FORMER CONFORMED NAME: BOLSA CHICA CO/ DATE OF NAME CHANGE: 19921229 FORMER COMPANY: FORMER CONFORMED NAME: HENLEY GROUP INC/DE/ DATE OF NAME CHANGE: 19910415 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: EDELMAN ASHER B CENTRAL INDEX KEY: 0000915696 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 717 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 212-371-7711 MAIL ADDRESS: STREET 1: 717 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 AMENDMENT NO. 4 TO SCHEDULE 13D 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. 4)(1) CALIFORNIA COASTAL COMMUNITIES, INC. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $0.05 par value per share - -------------------------------------------------------------------------------- (Title of Class of Securities) 42550H - -------------------------------------------------------------------------------- (CUSIP Number) Asher B. Edelman Todd J. Emmerman, Esq. 717 Fifth Avenue c/o Rosenman & Colin LLP New York, New York 10022 575 Madison Avenue (212) 371-7711 New York, New York 10022 (212) 940-8873 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) February 3, 2000 - -------------------------------------------------------------------------------- (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 17 Pages) - ---------- (1) 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 disclosures provided in a prior cover page. The information required on 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 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. 42550H SCHEDULE 13D Page 2 of 17 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Edelman Value Partners, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 396,203 Shares OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 396,203 Shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 396,203 Shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.94% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 42550H SCHEDULE 13D Page 3 of 17 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Edelman Value Fund, Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION British Virgin Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 440,016 Shares OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 440,016 Shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 440,016 Shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.37% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 42550H SCHEDULE 13D Page 4 of 17 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Asher B. Edelman & Associates LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 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 Turks and Caicos - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- 8 SHARED VOTING POWER NUMBER OF 472,016 Shares (comprised of shares owned by Edelman SHARES Value Fund, Ltd. and shares owned by Wimbledon Edelman BENEFICIALLY Select Opportunities Hedged Fund, Ltd.) OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 472,016 Shares (comprised of shares owned by Edelman Value Fund, Ltd. and shares owned by Wimbledon Edelman Select Opportunities Hedged Fund, Ltd.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 472,016 Shares (comprised of shares owned by Edelman Value Fund, Ltd. and shares owned by Wimbledon Edelman Select Opportunities Hedged Fund, Ltd.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.69% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 42550H SCHEDULE 13D Page 5 of 17 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) A.B. Edelman Management Company, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- 8 SHARED VOTING POWER NUMBER OF SHARES 396,203 Shares (comprised of shares owned by Edelman BENEFICIALLY Value Partners, L.P.) OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 396,203 Shares (comprised of shares owned by Edelman Value Partners, L.P.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 396,203 Shares (comprised of shares owned by Edelman Value Partners, L.P.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.94% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 42550H SCHEDULE 13D Page 6 of 17 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Asher B. Edelman - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not applicable - -------------------------------------------------------------------------------- 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 - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- 8 SHARED VOTING POWER 868,219 Shares (comprised of shares owned by Edelman NUMBER OF Value Partners, L.P., shares owned by Edelman Value SHARES Fund, Ltd. and shares owned by Wimbledon Edelman Select BENEFICIALLY Opportunities Hedged Fund, Ltd.) OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 868,219 Shares (comprised of shares owned by Edelman Value Partners, L.P., shares owned by Edelman Value Fund, Ltd. and shares owned by Wimbledon Edelman Select Opportunities Hedged Fund, Ltd.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 868,219 Shares (comprised of shares owned by Edelman Value Partners, L.P., shares owned by Edelman Value Fund, Ltd. and shares owned by Wimbledon Edelman Select Opportunities Hedged Fund, Ltd.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.63% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 42550H SCHEDULE 13D Page 7 of 17 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Wimbledon Edelman Select Opportunities Hedged Fund, Ltd. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Bahamas - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 32,000 Shares OWNED BY -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 32,000 Shares - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 32,000 Shares - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.32% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 42550H SCHEDULE 13D Page 8 of 17 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Wimbledon Fund, Ltd., Edelman Select Opportunities Hedged Class Shares - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* Not applicable - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Bahamas - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 32,000 Shares (comprised of shares owned by Wimbledon OWNED BY Edelman Select Opportunities Hedged Fund, Ltd.) EACH -------------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 32,000 Shares (comprised of shares owned by Wimbledon Edelman Select Opportunities Hedged Fund, Ltd.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 32,000 Shares (comprised of shares owned by Wimbledon Edelman Select Opportunities Hedged Fund, Ltd.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.32% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP No. 42550H SCHEDULE 13D Page 9 of 17 Pages - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Weston Capital Management LLC - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Connecticut - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 32,000 Shares (comprised of shares owned by Wimbledon OWNED BY Edelman Select Opportunities Hedged Fund, Ltd.) EACH -------------------------------------------------------- REPORTING 9 SOLE DISPOSITIVE POWER PERSON WITH -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 32,000 Shares (comprised of shares owned by Wimbledon Edelman Select Opportunities Hedged Fund, Ltd.) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 32,000 Shares (comprised of shares owned by Wimbledon Edelman Select Opportunities Hedged Fund, Ltd.) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.32% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! This Amendment No. 4 is being filed by (i) Edelman Value Partners, L.P., a Delaware limited partnership ("Edelman Value Partners"), (ii) Edelman Value Fund, Ltd., a British Virgin Islands corporation ("Edelman Value Fund"), (iii) A.B. Edelman Management Company, Inc., a New York corporation ("Edelman Management"), (iv) Asher B. Edelman & Associates LLC, a Turks and Caicos limited liability company ("Edelman Associates"), (v) Wimbledon Edelman Select Opportunities Hedged Fund, Ltd., a Bahamian corporation ("Wimbledon"), (vi) Wimbledon Fund, Ltd., Edelman Select Opportunities Hedged Class Shares, a Bahamian corporation ("Select"), (vii) Weston Capital Management LLC, a Connecticut limited liability company ("Weston"), and (viii) Asher B. Edelman (such entities and individual are collectively referred to herein as the "Reporting Persons"), with respect to the Common Stock, par value $0.05 per share (the "Common Stock") of California Coastal Communities, Inc., a company incorporated and existing under the laws of the State of Delaware (the "Company") and amends the Schedule 13D (the "Schedule 13D") filed on July 9, 1999 by Edelman Value Partners, Edelman Value Fund, Edelman Management, Edelman Associates and Asher B. Edelman (the "Initial Reporting Persons"), as amended by Amendment Nos. 1 and 2 filed by the Initial Reporting Persons on August 3, 1999 and October 14, 1999, respectively, and by Amendment No. 3 filed by the Reporting Persons on December 9, 1999. Capitalized terms herein which are not otherwise defined herein shall have the meanings ascribed to such terms in the Schedule 13D and the Amendments thereto. Item 3. Source and Amount of Funds or Other Consideration. Item 3 is hereby amended as follows: The aggregate amount of funds used by Edelman Value Partners to purchase shares of Common Stock since the date of Amendment No. 3 to the Schedule 13D was $164,861. The source of funds used by Edelman Value Fund to purchase such shares was working capital. The aggregate amount of funds used by Edelman Value Fund to purchase shares of Common Stock since the date of Amendment No. 3 to the Schedule 13D was $145,372. The source of funds used by Edelman Value Partners to purchase such shares was working capital. The aggregate amount of funds used by Wimbledon to purchase shares of Common Stock since the date of Amendment No. 3 to the Schedule 13D was $201,841. The source of funds used by Wimbledon to purchase such shares was capital contributions from Select. Item 4. Purpose of Transaction. Item 4 is hereby amended as follows: Page 10 of 17 On February 3, 2000 Asher B. Edelman sent a letter to the Company's Board of Directors, a copy of which is attached hereto as Exhibit 2, requesting that a representative of the Reporting Persons be appointed to the Board. Item 5. Interest in Securities of the Issuer. (a) Item 5(a) is hereby amended and restated to read as follows: The aggregate percentage of the outstanding shares of Common Stock reported owned by each Reporting Person is based upon 10,058,589 shares of Common Stock outstanding as of November 1, 1999, as reported in the Company's quarterly report on Form 10-Q for the period ended September 30, 1999. As of the close of business on February 2, 2000: (i) Edelman Value Partners owns 396,203 shares of Common Stock which constitute approximately 3.94% of the shares of Common Stock outstanding; (ii) Edelman Management owns no shares of Common Stock. As sole General Partner of Edelman Value Partners, Edelman Management may be deemed, by the provisions of Rule 13d-3 of the Exchange Act Rules, to be the beneficial owner of the 396,203 shares of Common Stock owned by Edelman Value Partners. Such shares of Common Stock constitute approximately 3.94% of the shares of Common Stock outstanding; (iii) Edelman Value Fund owns 440,016 shares of Common Stock which constitute approximately 4.37% of the shares of Common Stock outstanding; (iv) Wimbledon owns 32,000 shares of Common Stock which constitute approximately 0.32% of the shares of Common Stock outstanding. (v) Select owns no shares of Common Stock. As the 100% parent of Wimbledon, Weston may be deemed by the provisions of Rule 13d-3 of the Exchange Act Rules to be the beneficial owner of the 32,000 shares of Common Stock owned by Wimbledon. Such shares of Common Stock constitute approximately 0.32% of the shares of Common Stock outstanding. (vi) Weston owns no shares of Common Stock. As Portfolio Manager of Wimbledon, Weston may be deemed by the provisions of Rule 13d-3 of the Exchange Act Rules, to be the beneficial owner of the 32,000 shares of Common Stock owned by Wimbledon. Such shares of Common Stock constitute approximately 0.32% of the shares of Common Stock outstanding. (vii) Edelman Associates owns no shares of Common Stock. As Investment Manager of Edelman Value Fund and Trading Advisor of Wimbledon, Edelman Associates may be deemed under the provisions of Rule 13D-3 of the Page 11 of 17 Exchange Act Rules, to be the beneficial owner of the 440,016 shares of Common Stock owned by Edelman Value Fund and the 32,000 shares of Common Stock owned by Wimbledon. Such shares of Common Stock constitute approximately 4.69% of the shares of Common Stock outstanding. (viii) Asher B. Edelman owns no shares of Common Stock. As (i) the President and sole Director of Edelman Management, which is the sole General Partner of Edelman Value Partners, and as the Managing Member of Edelman Associates, which is the Investment Manager of Edelman Value Fund and the Trading Advisor of Wimbledon, Mr. Edelman may be deemed under the provisions of Rule 13d-3 of the Exchange Act Rules, to be the beneficial owner of the 396,203 shares of Common Stock owned by Edelman Value Partners, the 440,016 shares of Common Stock owned by Edelman Value Fund and the 32,000 shares owned by Wimbledon. Such shares of Common Stock, in the aggregate, constitute approximately 8.63% of the shares of Common Stock outstanding. (c) Item 5(c) is hereby amended as follows: Set forth below is a description of all transactions in shares of Common Stock that were effected by any of the Reporting Persons since the date of Amendment No. 2 to the Schedule 13D. All such transactions were effected on the open market. Purchase Number Price Entity Date or Sale Of Shares per Share ------ ---- ------- --------- --------- Wimbledon 12/9/99 P 500 $7.00 Wimbledon 12/10/99 P 6,800 $6.9375 Wimbledon 12/21/99 P 2,000 $6.4375 Edelman Value Fund 12/22/99 P 2,500 $6.0925 Edelman Value Partners 12/22/99 P 2,500 $6.0925 Wimbledon 12/22/99 P 1,000 $6.4375 Wimbledon 12/22/99 P 5,000 $6.0625 Wimbledon 12/23/99 P 2,200 $6.00 Wimbledon 12/27/99 P 2,000 $6.00 Wimbledon 12/29/99 P 900 $5.6875 Edelman Value Partners 12/30/99 P 6,600 $6.28 Edelman Value Partners 12/31/99 P 7,200 $6.65 Edelman Value Fund 12/31/99 P 10,000 $6.65 Wimbledon 12/31/99 P 4,100 $6.6203 Wimbledon 1/13/00 P 2,000 $6.5625 Wimbledon 1/14/00 P 3,000 $6.00 Edelman Value Fund 1/31/00 P 500 $6.875 Wimbledon 2/2/00 P 2,000 $6.00 Page 12 of 17 Item 7. Material to be Filed as Exhibits. Item 7 is hereby amended and restated to read as follows: Exhibit 1: Agreement Pursuant to Rule 13d-1(k) Exhibit 2: Letter dated February 3, 2000 from Asher B. Edelman to Board of Directors of the Company Page 13 of 17 SIGNATURE After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: February 3, 2000 /s/ Scott G. Kasen ----------------------------------------- Scott G. Kasen, as attorney-in-fact for each of Asher B. Edelman, Edelman Value Partners, L.P., Edelman Value Fund, Ltd., Wimbledon Edelman Select Opportunities Hedged Fund, Ltd., Weston Capital Management LLC, Wimbledon Fund Ltd., Edelman Select Opportunities Hedged Class Shares, Asher B. Edelman & Associates LLC and A.B. Edelman Management Company, Inc. Page 14 of 17 EX-99.1 2 AGREEMENT REGARDING JOINT FILING EXHIBIT 1 AGREEMENT REGARDING JOINT FILING UNDER SECTION 13(d) OF THE EXCHANGE ACT FOR VALUE RECEIVED, the undersigned, effective as of December 8, 1999, hereby agree as follows: 1. Joint Filing Authorization. Each party hereto authorizes SCOTT G. KASEN to file on their behalf with the Securities & Exchange Commission (the "SEC"), all appropriate exchanges and other appropriate parties, as a joint filing for all of the undersigned parties pursuant to Rule 13d-1(k), a statement of their beneficial ownership of the Common Stock, $0.05 par value per share of CALIFORNIA COASTAL COMMUNITIES, INC. (the "Company") on Schedule 13D as promulgated by the SEC, including any pertinent amendments thereto, and including, where applicable, additions or deletions to the group represented by the undersigned. 2. Power of Attorney. Each of Edelman Value Partners, L.P., Edelman Value Fund, Ltd., Asher B. Edelman & Associates LLC, individually and as Investment Manager of Edelman Value Fund, Ltd., Wimbledon Edelman Select Opportunities Hedged Fund, Ltd., Weston Capital Management LLC, Wimbledon Fund Ltd., Edelman Select Opportunities Hedged Class Shares, A.B. Edelman Management Company, Inc., individually and in its capacity as General Partner of Edelman Value Partners, L.P., and Asher B. Edelman, hereby designates and appoints SCOTT G. KASEN as their attorney-in-fact, to take all actions and to execute all documentation in their stead and on their behalf necessary or prudent to effectuate the joint filings relating to the Company contemplated by this Agreement, until revoked in writing by the party. 3. Binding on Heirs, Representatives, Successors and Assigns. This Agreement shall be binding upon the undersigned and their respective heirs, representatives, successors and assigns. /s/ Asher B. Edelman --------------------------------------------- Asher B. Edelman EDELMAN VALUE PARTNERS, L.P., a Delaware limited partnership By: A.B. Edelman Management Company, Inc., a New York corporation, General Partner By: /s/ Asher B. Edelman ---------------------------------------- Asher B. Edelman, President Page 15 of 17 EDELMAN VALUE FUND, LTD., a British Virgin Islands corporation By: Asher B. Edelman & Associates LLC, its its Investment Manager By: /s/ Asher B. Edelman ---------------------------------------- Asher B. Edelman, Managing Member A.B. EDELMAN MANAGEMENT COMPANY, INC., a New York corporation By: /s/ Asher B. Edelman ---------------------------------------- Asher B. Edelman, President ASHER B. EDELMAN & ASSOCIATES LLC, a limited liability company By: /s/ Asher B. Edelman ---------------------------------------- Asher B. Edelman, Managing Member WIMBLEDON EDELMAN SELECT OPPORTUNITIES HEDGED FUND, LTD., a Bahamian corporation By: /s/ Dorothea I. Thompson ---------------------------------------- Dorothea I. Thompson, Director WIMBLEDON FUND, LTD., EDELMAN SELECT OPPORTUNITIES HEDGED CLASS SHARES, a Bahamian corporation By: /s/ Dorothea I. Thompson ---------------------------------------- Dorothea I. Thompson, Director WESTON CAPITAL MANAGEMENT LLC By: /s/ Kristen Leopold ---------------------------------------- Kristen Leopold, Chief Financial Officer Page 16 of 17 EX-99.2 3 LETTER DATED FEBRUARY 3, 2000 EXHIBIT 2 ASHER B. EDELMAN & ASSOCIATES, LLC 717 FIFTH AVENUE NEW YORK, N.Y. 10022 February 3rd, 2000 Board of Directors Via Fax: 949-261-6550 California Coastal Communities, Inc. Via Mail c/o Raymond J. Pacini 6 Executive Circle Suite 250 Irvine, California 92614 Gentlemen, During the past years the Edelman Group has made an investment in the shares of California Coastal Communities, Inc. We have done extensive research on the value of the company's properties and spent considerable time thinking about how those values could be realized. In the process, we consulted with both real estate appraisers and independent counsel specializing in environmental issues. This work has re-emphasized for us both the values of the company's properties and the extraordinary difficulties in prompt realization of those values. Our team believes that we might best be able to contribute to the future of California Coastal Communities, Inc. through being represented on the Board of Directors. We are writing this letter in order to request that a representative of the Edelman Group be invited to join the Board. We would appreciate hearing back from the Board, as soon as is convenient, your views on the matter and what we might be able to do to assist you in reaching a positive conclusion. Sincerely, Asher B. Edelman Page 17 of 17 -----END PRIVACY-ENHANCED MESSAGE-----