UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
CALIFORNIA COASTAL COMMUNITIES, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.05 PER SHARE
(Title of Class of Securities)
129915203
(CUSIP Number)
September 12, 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 10 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 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*
OO
CUSIP No. 129915203 Page 3 of 10 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 10 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 545,365
REPORTING ---------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
6,000
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
545,365
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
551,365
--------------------------------------------------------------------------------
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*
IN
CUSIP No. 129915203 Page 5 of 10 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 2,800
SHARES ---------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 545,365
REPORTING ---------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
2,800
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
545,365
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
548,165
--------------------------------------------------------------------------------
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*
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 (the "Mercury Fund"). Mercury
Advisors is the investment advisor to the Mercury Fund.
As such, Mercury Advisors has investment discretion with
respect to any transactions in the subject securities,
which transactions are generally reviewed by the
investment committee of the general partner of the
Mercury Fund.
(ii) The Mercury Fund with respect to shares held by it.
Mercury Advisors is the investment advisor to the
Mercury Fund. As such, Mercury Advisors has investment
discretion with respect to any transactions in the
subject securities, which transactions are generally
reviewed by the investment committee of the general
partner of the Mercury Fund.
(iii) David R. Jarvis, a Managing Member of Mercury Advisors,
with respect to (i) 545,365 shares held by the Mercury
Fund, and (ii) 6,000 shares owned individually by Mr.
Jarvis.
(iv) Malcolm F. MacLean IV, a Managing Member of Mercury
Advisors, with respect to (i) 545,365 shares held by the
Mercury Fund, and (ii) 2,800 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) Mr. Jarvis is a United States citizen.
(iv) 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
withss.240.13d-1(b)(1)(ii)(E),
(f) [ ] An employee benefit plan or endowment fund in accordance
withss.240.13d-1(b)(1)(ii)(F),
(g) [ ] A parent holding company or control person in accordance
withss.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 withss.13d-1(b)(1)(ii)(J).
Item 4. Ownership.
Mercury Real Estate Advisors LLC:
--------------------------------
(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 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
David R. Jarvis:
---------------
(a) Amount beneficially owned: 551,365 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: 6,000 shares
(ii) Shared power to vote or to direct the vote: 545,365
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:
545,365 shares
Malcolm F. MacLean IV:
---------------------
(a) Amount beneficially owned: 548,165 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: 2,800 shares
(ii) Shared power to vote or to direct the vote: 545,365
shares
(iii) Sole power to dispose or to direct the disposition of:
2,800
(iv) Shared power to dispose or to direct the disposition of:
545,365 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: September 22, 2003
Mercury Real Estate Advisors LLC
/s/ David R. Jarvis
-------------------------------------
Name: David R. Jarvis
Title: Managing Member
Mercury Targeted Securities Fund LP
By: Mercury Securities LLC, its general
partner
By: /s/ David R. Jarvis
-------------------------------------
Name: David R. Jarvis
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 report on Schedule 13G:
Exhibit A: Joint Filing Agreement dated September 22, 2003 between Mercury Real
Estate Advisors LLC, Mercury Targeted Securities 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, David R. Jarvis, an
individual and Malcolm F. MacLean IV, an individual, hereby agree to file
jointly the 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 statement on Schedule 13G, and any amendments thereto, filed
on behalf of each of the parties hereto.
Dated: September 22, 2003
Mercury Real Estate Advisors LLC
/s/ David R. Jarvis
-------------------------------------
Name: David R. Jarvis
Title: Managing Member
Mercury Targeted Securities Fund LP
By: Mercury Securities LLC, its general
partner
By: /s/ David R. Jarvis
-------------------------------------
Name: David R. Jarvis
Title: Managing Member
/s/ David R. Jarvis
-------------------------------------
David R. Jarvis, an individual
/s/ Malcolm F. MacLean IV
-------------------------------------
Malcolm F. MacLean IV, an individual