<PAGE>
------------------------------
OMB APPROVAL
------------------------------
OMB Number: 3235-0145
Expires: October 31, 2002
Estimated average burden
hours per response . . . 14.90
------------------------------
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
(Section 240.13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO SECTION 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
SECTION 240.13d-2(a)
(Amendment No. 9)1
Capital Pacific Holdings, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.10 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
14040M104
--------------------------------------------------------------------------------
(CUSIP Number)
Mark C. Wehrly
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)
November 7, 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 Sections 240.13d-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 Section
240.13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
Exhibit Index Found on Page 26
Page 1 of 30 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 ("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).
Page 1 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate
of 2,809,851 Shares, which is 20.4% of the class of
securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
------------------------------------============================================
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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
PN
-------------===================================================================
Page 2 of 30 Pages
<PAGE>
13D
===================
CUSIP No. 14040M104
===================
-------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
California Housing Finance, L.L.C.
-------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate
of 2,809,851 Shares, which is 20.4% of the class of
securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
------------------------------------============================================
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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
PN
-------------===================================================================
Page 3 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate
of 2,809,851 Shares, which is 20.4% of the class of
securities. The reporting person on this cover page,
however, is a beneficial owner only of the securities
reported by it on this cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e)
[ ]
-------------===================================================================
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
------------------------------------============================================
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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
PN
-------------===================================================================
Page 4 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate
of 2,809,851 Shares, which is 20.4% of the class of
securities. The reporting person on this cover page,
however, may be deemed a beneficial owner only of the
securities reported by it on this cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 5 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 6 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 7 of 30 Pages
<PAGE>
13D
===================
CUSIP No. 14040M104
===================
-------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
-------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 8 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 9 of 30 Pages
<PAGE>
13D
===================
CUSIP No. 14040M104
===================
-------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
-------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 10 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 11 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 12 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 13 of 30 Pages
<PAGE>
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 (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 14 of 30 Pages
<PAGE>
13D
===================
CUSIP No. 14040M104
===================
-------------===================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mark C. Wehrly
-------------===================================================================
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
** The reporting persons making this filing hold an aggregate of
2,809,851 Shares, which is 20.4% of the class of securities. The
reporting person on this cover page, however, may be deemed a
beneficial owner only of the securities reported by it on this
cover page.
-------------===================================================================
3 SEC USE ONLY
-------------===================================================================
4 SOURCE OF FUNDS (See Instructions)
N/A
-------------===================================================================
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 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 IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions)
[ ]
-------------===================================================================
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.4 %
-------------===================================================================
14 TYPE OF REPORTING PERSON (See Instructions)
IN
-------------===================================================================
Page 15 of 30 Pages
<PAGE>
This Amendment No. 9 to Schedule 13D amends the Schedule 13D initially
filed on September 30, 1997 (collectively, with all amendments thereto, the
"Schedule 13D").
Item 2. Identity And Background
------- -----------------------
Item 2 of the Schedule 13D is amended and restated in its entirety as
follows:
(a) This statement is filed by the entities and persons listed below, all
of whom together are referred to herein as the "Reporting Persons."
The Partnership
---------------
(i) California Housing Finance, L.P., a Delaware limited partnership
(the "Partnership"), with respect to the Shares held by it.
The General Partner Of The Partnership
--------------------------------------
(ii) California Housing Finance, L.L.C., a Delaware limited liability
company which is the general partner of the Partnership (the
"General Partner"), with respect to the Shares held by the
Partnership.2
The Management Company
----------------------
(iii)Farallon Capital Management, L.L.C., a Delaware limited
liability company (the "Management Company"), with respect to the
Shares held by the Partnership.
The Managing Members Of The Management Company
----------------------------------------------
(iv) The following persons who are managing members of the Management
Company, with respect to the Shares held by the Partnership:
Enrique H. Boilini ("Boilini"), David I. Cohen ("Cohen"), Joseph
F. Downes ("Downes"), William F. Duhamel ("Duhamel"), Andrew B.
Fremder ("Fremder"), Richard B. Fried ("Fried"), William F.
Mellin ("Mellin"), Stephen L. Millham ("Millham"), Meridee A.
Moore ("Moore"), Thomas F. Steyer ("Steyer") and Mark C. Wehrly
("Wehrly").
--------
2 The limited partners of the Partnership are Farallon Capital Partners,
L.P., a California limited partnership ("FCP"), a discretionary account (the
"Managed Account") managed by the Management Company (as defined herein), RR
Capital Partners, L.P., a Delaware limited partnership ("RR") and Farallon
Special Situation Partners, L.P., a Delaware limited partnership ("FSSP").
The members of the General Partner are FCP, the Managed Account, RR and
FSSP.
Page 16 of 30 Pages
<PAGE>
Boilini, Cohen, Downes, Duhamel, Fremder, Fried, Mellin, Millham, Moore,
Steyer, and Wehrly are together referred to herein as the "Individual Reporting
Persons."
(b) The address of the principal business and principal office of (i) the
Partnership, the General Partner and the Management Company is One Maritime
Plaza, Suite 1325, San Francisco, California 94111 and (ii) each of the
Individual Reporting Persons is set forth in Annex 1 hereto.
(c) The principal business of the Partnership is to invest in and
engage in certain financial transactions with the Company and its affiliates.
The principal business of the General Partner is to act as the general partner
of the Partnership. The principal business of the Management Company is that of
a registered investment adviser. The Management Company also acts as the manager
of the General Partner. The principal business of each of the Individual
Reporting Persons is set forth in Annex 1 hereto.
(d) None of the Partnership, the General Partner, the Management Company or
any of the Individual Reporting Persons has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) None of the Partnership, the General Partner, the Management Company or
any of the Individual Reporting Persons has, during the last five years, been
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
Page 17 of 30 Pages
<PAGE>
(f) The citizenship of each of the Partnership, the General Partner and the
Management Company is set forth above. Each of the Individual Reporting Persons
is a United States citizen other than Enrique H. Boilini who is an Argentinean
citizen.
The other information required by Item 2 relating to the identity and
background of the Reporting Persons is set forth in Annex 1 hereto.
Item 4. Purpose Of The Transaction.
------- --------------------------
Item 4 of the Schedule 13D is amended and updated as follows:
On November 7, 2000, the Manager sent to the Company a letter expressing
interest in the purchase by the Partnership or an affiliate of the Partnership
of all of the Company's interest in certain commercial, residential, mixed use
and land development properties (the "Projects") and certain buildings (the
"Buildings") in exchange for the transfer to the Company of a portion of the
Partnership's interest in Capital Pacific Holdings, L.L.C. (an affiliate of the
Company). This transaction would be conditioned, among numerous other
conditions, upon the Company's consent to Paul Makarechian, a current Director
and Senior Vice President of the Company, leaving his employment with the
Company and entering into a limited liability company agreement with the
Partnership to manage the Projects and the Buildings. Paul Makarechian would
receive a contingent profit participation in the Projects and the Buildings as
well as a management fee. The Partnership has reached a conditional agreement
with Paul Makarechian regarding this arrangement. A copy of this letter (the
"Manager's Letter") is annexed as Exhibit K to this Schedule 13D and
incorporated herein by reference.
Item 5. Interest In Securities Of The Issuer.
--------- ----------------------------------------------
Item 5 of the Schedule 13D is amended and restated in its entirety as
follows:
(a) The Partnership
---------------
Page 18 of 30 Pages
<PAGE>
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for the Partnership is incorporated herein
by reference for the Partnership. The percentage amount set
forth in Row 13 of each cover page filed herewith is
calculated based upon the 13,767,911 Shares outstanding as
of September 28, 2000 as reported by the Company in its
Quarterly Report on Form 10-Q for the period ended August
31, 2000 filed with the Securities and Exchange Commission
on October 13, 2000.
(c) There have been no transactions in the Shares since the
filing of the prior Schedule 13D.
(d) The General Partner, as general partner of the Partnership,
has the power to direct the affairs of the Partnership,
including the disposition of the proceeds of the sale of the
Shares owned by the Partnership. The Management Company, as
manager of the General Partner, has the power to direct the
affairs of the General Partner including the disposition of
the proceeds of the sale of the Shares. The Individual
Reporting Persons are managing members of the Management
Company.
(e) Not applicable.
(b) The General Partner
-------------------
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for the General Partner is incorporated
herein by reference.
(c) None.
(d) The Management Company, as manager of the General Partner,
has the power to direct the affairs of the General Partner
including the disposition of the proceeds of the sale of the
Shares. The Individual Reporting Persons are managing
members of the Management Company.
(e) Not applicable.
(c) The Management Company
----------------------
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for the Management Company is incorporated
herein by reference.
(c) None.
(d) The Management Company, as manager of the General Partner,
has the power to direct the affairs of the General Partner
including the disposition of
Page 19 of 30 Pages
<PAGE>
the proceeds of the sale of the Shares. The Individual
Reporting Persons are managing members of the Management
Company.
(e) Not applicable.
(d) The Individual Reporting Persons
--------------------------------
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for each Individual Reporting Person is
incorporated herein by reference for each such Individual
Reporting Person.
(c) None.
(d) The General Partner, as general partner of the Partnership,
has the power to direct the affairs of the Partnership,
including the disposition of the proceeds of the sale of the
Shares owned by the Partnership. The Management Company, as
manager of the General Partner, has the power to direct the
affairs of the General Partner including the disposition of
the proceeds of the sale of the Shares. The Individual
Reporting Persons are managing members of the Management
Company.
(e) Not applicable.
The Shares reported hereby for the Partnership are owned directly by it.
The General Partner, as general partner of the Partnership, may be deemed to be
the beneficial owner of all Shares owned by the Partnership. The Management
Company, as manager of the General Partner, may be deemed to be the beneficial
owner of all Shares owned by the Partnership. Each of the Individual Reporting
Persons may be deemed, as a managing member of the Management Company, to be the
beneficial owner of all Shares owned by the Partnership. Each of the General
Partner, the Management Company and the Individual Reporting Persons 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 and updated as follows:
As reported in Item 4 above, on November 7, 2000, the Manager sent to the
Company a letter expressing interest in the purchase by the Partnership or an
affiliate of the Partnership of all of the Company's interest in the Projects
and Buildings (each as defined in Item 4) in exchange for the transfer to the
Company of a portion of the Partnership's interest in Capital Pacific Holdings,
Page 20 of 30 Pages
<PAGE>
L.L.C. (an affiliate of the Company). See Item 4 for further discussion
regarding this matter and see Exhibit K of the Schedule 13D for a copy of the
Manager's Letter.
Item 7. Materials To Be Filed As Exhibits.
------ ---------------------------------
There is filed herewith as Exhibit K a copy of the Manager's Letter
referred to in Section 4 and 6 above.
There is filed herewith as Exhibit L a written agreement relating to the
filing of joint acquisition statements as required by Section 240.13d-1(f)(1)
under the Securities Exchange Act of 1934, as amended.
Page 21 of 30 Pages
<PAGE>
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: November 7, 2000
CALIFORNIA HOUSING FINANCE, L.P.
By: California Housing Finance, L.L.C.,
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, L.L.C.
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
/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, William F. Duhamel,
Andrew B. Fremder, Richard B. Fried,
William F. Mellin, Stephen L. Millham,
Meridee A. Moore and Mark C. Wehrly.
The Powers of Attorney, each executed by Boilini, Cohen, Downes, Fremder,
Mellin, Millham and Moore authorizing Steyer to sign and file this Schedule 13D
on each person's behalf,
Page 22 of 30 Pages
<PAGE>
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. The Powers of Attorney executed by Duhamel and
Fried authorizing Steyer to sign and file this Schedule 13D on each person's
behalf, which were filed with Amendment No. 1 to the Schedule 13G filed with the
Securities and Exchange Commission on January 13, 1999, by such Reporting
Persons with respect to the Callable Class A Common Shares of CliniChem
Development Inc., are hereby incorporated by reference. The Power of Attorney
executed by Mark C. Wehrly authorizing Steyer to sign and file this Schedule 13D
on his behalf, which was filed with Amendment No. 2 to the Schedule 13D filed
with the Securities and Exchange Commission on January 10, 2000, by such
Reporting Person with respect to the Common Shares of Axogen Limited, is hereby
incorporated by reference.
Page 23 of 30 Pages
<PAGE>
ANNEX L
Set forth below with respect to the Partnership, the General Partner, the
Management Company is the following: (a) name; (b) address; (c) principal
business; (d) state of organization; and (e) controlling persons. Set forth
below with respect to each managing member of the Management Company is the
following: name; business address; principal occupation; and citizenship.
1. The Partnership
---------------
(a) California Housing Finance, L.P.
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Invests and engages in certain financial transactions with the
Company and its affiliates
(d) Delaware limited partnership
(e) General Partner: California Housing Finance, L.L.C.
2. The General Partner
-------------------
(a) California Housing Finance, L.L.C.
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Acts as General Partner of California Housing Finance, L.P.
(d) Delaware limited liability company
(e) Manager: Farallon Capital Management, L.L.C.
3. The Management Company
----------------------
(a) Farallon Capital Management, L.L.C.
(b) One Maritime Plaza, Suite 1325
San Francisco, CA 94111
(c) Serves as investment adviser to various managed accounts. Also
acts as manager of California Housing Finance, L.L.C.
(d) Delaware limited liability company
(e) Managing Members: Thomas F. Steyer, Senior Managing Member;
Enrique H. Boilini, David I. Cohen, Joseph H. Downes, William F.
Duhamel, Andrew B. Fremder, Richard B. Fried, William F. Mellin,
Stephen L. Millham, Meridee A. Moore and Mark C. Wehrly, Managing
Members.
4. The Individual Reporting Persons
--------------------------------
Except as stated below, each of the Individual Reporting Persons is a
United States citizen whose business address is c/o Farallon Capital
Management, L.L.C., One Maritime Plaza, Suite 1325, San Francisco,
California 94111. Enrique H. Boilini is an Argentinean citizen
Page 24 of 30 Pages
<PAGE>
whose business address is c/o Farallon Capital Management, L.L.C., 75
Holly Hill Lane, Greenwich, Connecticut 06830. The principal
occupation of Thomas F. Steyer is serving as senior managing member of
the Management Company. The principal occupation of each Individual
Reporting Person is serving as a managing member of the Management
Company.
Page 25 of 30 Pages
<PAGE>
EXHIBIT INDEX
EXHIBIT K November 7, 2000 Letter from the Manager to the
Company
EXHIBIT L Joint Acquisition Statement Pursuant to Section
240.13D-(f)(1)
Page 26 of 30 Pages
<PAGE>
EXHIBIT K
to
SCHEDULE 13D
FARALLON CAPITAL MANAGEMENT, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
November 7, 2000
The Board of Directors
c/o Mr. Hadi Makarechian
Capital Pacific Holdings, Inc.
4100 MacArthur Boulevard, Suite 200
Newport Beach, California 92660
Gentlemen:
This letter expresses our preliminary interest in (i) increasing our
stake in certain commercial, residential, mixed use and land development
projects and certain buildings which are jointly and indirectly owned by Capital
Pacific Holdings, Inc. ("CPH") and our affiliated entity, California Housing
Finance, L.P. ("CHF") and (ii) simultaneously reducing our stake in the
remainder of CPH's business, which CPH conducts through its affiliate, Capital
Pacific Holdings, LLC ("CPH LLC"). In order to effect this restructuring, we
propose to purchase, through CHF or another affiliate, all of the indirect
ownership interests (the "Interests") held by CPH in the commercial,
residential, mixed use and land development projects listed below (the
"Projects") and in the buildings listed below (the "Buildings").
Projects Buildings
-------- ---------
Dana Point Newport Beach Building
Vista Palisades 4100 MacArthur Boulevard
Huntington Beach Newport Beach, California
Airport Office Building
Summit Office Building Las Vegas Building
Ritz Pointe 3200 Soaring Gulls Drive
Monarch Beach Resort Las Vegas, Nevada
Dos Pueblos
Commerce Point
Bradley Plaza Office Building
Rancho Palos Verdes
As you know, with respect to each of the Projects except Commerce Point,
certain of our affiliates have contributed 99% of the total capital to the
Project, entitling them to a return of their capital and a preferred return
thereon and a contingent profit participation in the Projects after the
preferred return. The indirect Interest of CPH in each Project, in general
terms, consists of 67.93% of (i) 1% of the existing capital in the Projects (and
a significantly higher percentage of the existing capital in the Commerce Point
Project) and a preferred return thereon and (ii) contingent profit
participations based on the future performance of these Projects.
With respect to the Buildings, CPH holds a 67.93% indirect ownership
interest in each Building.
Page 27 of 30 Pages
<PAGE>
We would propose that payment for the Interests be accomplished by the
transfer to CPH by CHF of a portion of CHF's ownership interests in CPH LLC. We
suggest that CPH obtain an independent evaluation of the price for such
Interests.
In connection with the transaction, CHF has an agreement with Paul
Makarechian, who is a Director and Senior Vice President of CPH, that, subject
to certain conditions, an entity controlled by him would manage the Projects and
the Buildings pursuant to a limited liability company agreement to be entered
into between CHF and a company owned directly or indirectly by Paul Makarechian
(the form of which CHF and Paul Makarechian have agreed to). Under that limited
liability company agreement, Paul Makarechian would receive a contingent profit
participation as well as management fees. Our interest in pursuing the
transaction would be conditioned upon CPH's consent to Paul Makarechian leaving
his employment with CPH and entering into this arrangement with CHF.
To the extent we can reach an agreement with CPH on price, our interest in
pursuing the transaction would also be conditioned on our agreeing on the
structure of the transaction and on other terms and conditions of the
transaction and entering into acceptable definitive documentation, as well as
overall market conditions at the time.
This letter does not constitute a binding offer. However, we would be happy
to discuss these matters with you at your convenience. Please feel free to
contact the undersigned with any questions regarding the contents of this
letter.
Please note that this letter does not constitute an "Election Notice" under
Section 7.03 of the Investment and Stockholder Agreement dated September 29,
1997.
Yours sincerely,
FARALLON CAPITAL MANAGEMENT, L.L.C.
By: /s/ Stephen L. Milham
----------------------------
Stephen L. Millham
Managing Member
-2-
Page 28 of 30 Pages
<PAGE>
EXHIBIT L
to
SCHEDULE 13D
JOINT ACQUISITION STATEMENT
PURSUANT TO SECTION 240.13D-(f)(1)
----------------------------------
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him, her or it contained therein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other entities or persons, except to the extent that he, she or
it knows or has reason to believe that such information is inaccurate.
Dated: November 7, 2000
CALIFORNIA HOUSING FINANCE, L.P.
By: California Housing Finance, L.L.C.,
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, L.L.C.
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
Page 29 of 30 Pages
<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, William F. Duhamel,
Andrew B. Fremder, Richard B. Fried,
William F. Mellin, Stephen L. Millham,
Meridee A. Moore and Mark C. Wehrly.
Page 30 of 30 Pages
