UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
CALIFORNIA COASTAL COMMUNICATIONS, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.05 PER SHARE
(Title of Class of Securities)
129915203
(CUSIP Number)
December 31, 2003
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] 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).
CUSIP No. 129915203 Page 2 of 11 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Mercury Real Estate Advisors LLC
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
SHARES ---------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 570,665
REPORTING ---------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
-0-
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
570,665
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
570,665
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.7%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
CUSIP No. 129915203 Page 3 of 11 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Mercury Targeted Securities Fund LP
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
SHARES ---------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 545,365
REPORTING ---------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
-0-
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
545,365
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
545,365
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.4%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
CUSIP No. 129915203 Page 4 of 11 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Mercury Special Situations Fund LP
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
SHARES ---------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 25,300
REPORTING ---------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
-0-
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
25,300
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
25,300
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
.25%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
CUSIP No. 129915203 Page 5 of 11 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
David R. Jarvis
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 6,000
SHARES ---------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 570,665
REPORTING ---------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
6,000
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
570,665
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
576,665
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.7%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
CUSIP No. 129915203 Page 6 of 11 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
Malcolm F. MacLean IV
--------------------------------------------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 4,988
SHARES ---------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 570,665
REPORTING ---------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
4,988
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
570,665
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
575,653
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.7%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
Item 1(a). Name of Issuer:
California Coastal Communities, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
6 Executive Circle, Suite 250
Irvine, California 92614
Item 2(a). Name of Person Filing:
This Schedule is being jointly filed by:
(i) Mercury Real Estate Advisors LLC, a Delaware limited
liability company ("Mercury Advisors"), with respect to
the shares held by Mercury Targeted Securities Fund LP,
a private investment partnership formed under the laws
of the State of Delaware ("Mercury Targeted Securities
Fund") and the shares held by Mercury Special
Situations Fund LP, a private investment partnership
formed under the laws of the State of Delaware
("Mercury Special Situations Fund"). Mercury Advisors
is the investment advisor to Mercury Targeted
Securities Fund and Mercury Special Situations Fund and
has complete investment discretion with respect to the
securities which are the subject of this report.
Messrs. Jarvis and MacLean are the Managing Members of
Mercury Advisors.
(ii) Mercury Targeted Securities Fund with respect to shares
held by it. Mercury Advisors is the investment advisor
to Mercury Targeted Securities Fund and has complete
investment discretion with respect to the securities
which are the subject of this report. Messrs. Jarvis
and MacLean are the Managing Members of Mercury
Advisors.
(iii)Mercury Special Situations Fund with respect to shares
held by it. Mercury Advisors is the investment advisor
to Mercury Special Situations Fund and has complete
investment discretion with respect to the securities
which are the subject of this report. Messrs. Jarvis
and MacLean are the Managing Members of Mercury
Advisors.
(iv) David R. Jarvis, a Managing Member of Mercury Advisors,
with respect to (i) 545,365 shares held by Mercury
Targeted Securities Fund, (ii) 25,300 shares held by
Mercury Special Situations Fund and (iii) 6,000 shares
owned individually by Mr. Jarvis.
(v) Malcolm F. MacLean IV, a Managing Member of Mercury
Advisors, with respect to (i) 545,365 shares held by
Mercury Targeted Securities Fund, (ii) 25,300 shares
held by Mercury Special Situations Fund and (iii) 4,988
shares owned individually by Mr. MacLean.
Item 2(b). Address of Principal Business Office or, if None, Residence:
100 Field Point Road
Greenwich, CT 06830
Item 2(c). Citizenship:
(i) Mercury Real Estate Advisors LLC is a Delaware limited
liability company.
(ii) Mercury Targeted Securities Fund LP is a Delaware
limited partnership.
(iii)Mercury Special Situations Fund LP is a Delaware
limited partnership.
(iv) Mr. Jarvis is a United States citizen.
(v) Mr. MacLean is a United States citizen.
Item 2(d). Title of Class of Securities:
Common Stock, par value $0.05 per share
Item 2(e). CUSIP Number: 129915203
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b)
or (c), check whether the person filing is a:
(a)[ ] Broker or Dealer registered under section 15 of the Act,
(b)[ ] Bank as defined in section 3(a)(6) of the Act,
(c)[ ] Insurance Company as defined in section 3(a)(19) of the Act,
(d)[ ] Investment Company registered under Section 8 of the Investment
Company Act of 1940,
(e)[ ] An investment adviser in accordance with ss. 240.13d-1
(b)(1)(ii)(E),
(f)[ ] An employee benefit plan or endowment fund in accordance with
ss. 240.13d-1(b)(1)(ii)(F),
(g)[ ] A parent holding company or control person in accordance with
ss. 240.13d-1(b)(1)(ii)(G),
(h)[ ] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act,
(i)[ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940,
(j)[ ] A group, in accordance with ss. 13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Mercury Real Estate Advisors LLC:
--------------------------------
(a) Amount beneficially owned: 570,665 shares
(b) Percent of class: 5.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: None
(ii) Shared power to vote or to direct the vote: 570,665 shares
(iii) Sole power to dispose or to direct the disposition of: None
(iv) Shared power to dispose or to direct the disposition of:
570,665 shares
Mercury Targeted Securities Fund LP:
-----------------------------------
(a) Amount beneficially owned: 545,365 shares
(b) Percent of class: 5.4%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: None
(ii) Shared power to vote or to direct the vote: 545,365 shares
(iii) Sole power to dispose or to direct the disposition of: None
(iv) Shared power to dispose or to direct the disposition of:
545,365 shares
Mercury Special Situations Fund LP:
----------------------------------
(a) Amount beneficially owned: 25,300 shares
(b) Percent of class: .25%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: None
(ii) Shared power to vote or to direct the vote: 25,300 shares
(iii) Sole power to dispose or to direct the disposition of: None
(iv) Shared power to dispose or to direct the disposition of:
25,300 shares
David R. Jarvis:
---------------
(a) Amount beneficially owned: 576,665 shares
(b) Percent of class: 5.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 6,000 shares
(ii) Shared power to vote or to direct the vote: 570,665 shares
(iii)Sole power to dispose or to direct the disposition of:
6,000 shares
(iv) Shared power to dispose or to direct the disposition of:
570,665 shares
Malcolm F. MacLean IV:
---------------------
(a) Amount beneficially owned: 575,653 shares
(b) Percent of class: 5.7%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: 4,988 shares
(ii) Shared power to vote or to direct the vote: 570,665 shares
(iii)Sole power to dispose or to direct the disposition of:
4,988
(iv) Shared power to dispose or to direct the disposition of:
570,665 shares
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.
Item 10. Certification.
By signing below each of the undersigned certifies that, to
the best of the undersigned's knowledge and belief, the securities referred to
above were not acquired and are not held for the purpose of or with the effect
of changing or influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a participant in any
transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: February 12, 2004
Mercury Real Estate Advisors LLC
/s/ Malcolm F. MacLean IV
-------------------------
Name: Malcolm F. MacLean IV
Title: Managing Member
Mercury Targeted Securities Fund LP
By: Mercury Securities LLC, its general
partner
By: /s/ Malcolm F. MacLean IV
-------------------------
Name: Malcolm F. MacLean IV
Title: Managing Member
Mercury Special Situations Fund LP
By: Mercury Securities II LLC, its general
partner
By: /s/ Malcolm F. MacLean IV
-------------------------
Name: Malcolm F. MacLean IV
Title: Managing Member
/s/ David R. Jarvis
-------------------------
David R. Jarvis, an individual
/s/ Malcolm F. MacLean IV
-------------------------
Malcolm F. MacLean IV, an individual
Exhibit Index
The following exhibits are filed with the amended report on Schedule 13G:
Exhibit A: Joint Filing Agreement dated February 12, 2004 between Mercury Real
Estate Advisors LLC, Mercury Targeted Securities Fund LP, Mercury Special
Situations Fund LP, David R. Jarvis and Malcolm F. MacLean IV.
Exhibit A
Joint Filing Agreement
Mercury Real Estate Advisors LLC, a Delaware limited liability company, Mercury
Targeted Securities Fund LP, a Delaware limited partnership, Mercury Special
Situations Fund LP, a Delaware limited partnership, David R. Jarvis, an
individual and Malcolm F. MacLean IV, an individual, hereby agree to file
jointly the amended statement on Schedule 13G to which this Agreement is
attached and any amendments thereto which may be deemed necessary, pursuant to
Regulation 13D-G under the Securities Exchange Act of 1934.
It is understood and agreed that each of the parties hereto is responsible for
the timely filing of such statement and any amendments thereto, and for the
completeness and accuracy of the information concerning such party contained
therein, but such party is not responsible for the completeness and accuracy of
information concerning any other party unless such party knows or has reason to
believe such information is inaccurate.
It is understood and agreed that a copy of this Agreement shall be attached as
an exhibit to the amended statement on Schedule 13G, and any amendments thereto,
filed on behalf of each of the parties hereto.
Dated: February 12, 2004
Mercury Real Estate Advisors LLC
/s/ Malcolm F. MacLean IV
-------------------------
Name: Malcolm F. MacLean IV
Title: Managing Member
Mercury Targeted Securities Fund LP
By: Mercury Securities LLC, its general
partner
By: /s/ Malcolm F. MacLean IV
-------------------------
Name: Malcolm F. MacLean IV
Title: Managing Member
Mercury Special Situations Fund LP
By: Mercury Securities II LLC, its general
partner
By: /s/ Malcolm F. MacLean IV
-------------------------
Name: Malcolm F. MacLean IV
Title: Managing Member
/s/ David R. Jarvis
-------------------------
David R. Jarvis, an individual
/s/ Malcolm F. MacLean IV
-------------------------
Malcolm F. MacLean IV, an individual