Page 1 of 12
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. _____)
CRESTLINE CAPITAL CORPORATION
- -----------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value per share
- -----------------------------------------------------------------------------
(Title of Class of Securities)
226153 10 4
--------------------
(CUSIP Number)
August 26, 1999
- -----------------------------------------------------------------------------
(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).
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 2 of 12
_____________________________________________________________________________
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)
Performance Capital, L.P.
_____________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(See Instructions) (b) [ ]
_____________________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
_____________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF 934,100
SHARES
______________________________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
______________________________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 934,100
______________________________________________________________
PERSON 8 SHARED DISPOSITIVE POWER
WITH
_____________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
934,100
_____________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions)
[ ]
_____________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
4.5% (based on 20,681,725 shares outstanding at 7/23/99)
_____________________________________________________________________________
12 TYPE OF REPORTING PERSON (See Instructions)
PN
_____________________________________________________________________________
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 3 of 12
_____________________________________________________________________________
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)
Performance Capital II, L.P.
_____________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(See Instructions) (b) [ ]
_____________________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
_____________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF 115,400
SHARES
______________________________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
______________________________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 115,400
______________________________________________________________
PERSON 8 SHARED DISPOSITIVE POWER
WITH
_____________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
115,400
_____________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
_____________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6% (based on 20,681,725 shares outstanding at 7/23/99)
_____________________________________________________________________________
12 TYPE OF REPORTING PERSON (See Instructions)
PN
_____________________________________________________________________________
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 4 of 12
_____________________________________________________________________________
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)
Performance Offshore, Ltd.
_____________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(See Instructions) (b) [ ]
_____________________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
_____________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF 73,100
SHARES
______________________________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
______________________________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 73,100
______________________________________________________________
PERSON 8 SHARED DISPOSITIVE POWER
WITH
_____________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
73,100
_____________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
_____________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.4% (based on 20,681,725 shares outstanding at 7/23/99)
_____________________________________________________________________________
12 TYPE OF REPORTING PERSON (See Instructions)
CO
_____________________________________________________________________________
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 5 of 12
_____________________________________________________________________________
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)
Brett Fialkoff, IRA
_____________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
_____________________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
_____________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF 100
SHARES
______________________________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
______________________________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 100
______________________________________________________________
PERSON 8 SHARED DISPOSITIVE POWER
WITH
_____________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100
_____________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
_____________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.1% (based on 20,681,725 shares outstanding at 7/23/99)
_____________________________________________________________________________
12 TYPE OF REPORTING PERSON (Se Instructions)
OO
_____________________________________________________________________________
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 6 of 12
_____________________________________________________________________________
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (Entities Only)
Jordan Warner
_____________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(See Instructions) (b) [ ]
_____________________________________________________________________________
3 SEC USE ONLY
_____________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
_____________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF 7,000
SHARES
______________________________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
______________________________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 7,000
______________________________________________________________
PERSON 8 SHARED DISPOSITIVE POWER
WITH
_____________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,000
_____________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
_____________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.1% (based on 20,681,725 shares outstanding at 7/23/99)
_____________________________________________________________________________
12 TYPE OF REPORTING PERSON (See Instructions)
IN
_____________________________________________________________________________
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 7 of 12
Item 1. Name of Issuer and Address
(a) The name of the issuer is Crestline Capital Corporation, a
Maryland corporation ("CCC").
(b) The principal executive offices of CCC are located at 6600
Rockledge Drive, Bethesda, Maryland 20817.
Item 2. Identity, Address, Citizenship, Title of Class of Securities and
CUSIP Number
Items 2(a), (b), (c)
This statement on Schedule 13G ("Statement") is filed by
Performance Capital, L.P., a New York limited partnership ("PCI"),
Performance Capital II, L.P., a New York limited partnership ("PCII"),
Performance Offshore, Ltd, a Cayman Islands corporation ("POL"), Brett
Fialkoff, IRA, an individual retirement account for the benefit of Brett
Fialkoff ("BF") and Jordan Warner ("JW"; which together with PCI, PCII, POL
and BF shall be referred to collectively as the "Group"; each member of the
Group being hereinafter referred to individually as a "Member" and
collectively as "Members"). Performance Capital, LLC, a New York limited
liability company ("PCLLC"), is the sole general partner of PCI and Brian
Warner is a member of and the sole manager of PCLLC. BF is the other member
of PCLLC. Performance Management, LLC, a New York limited liability company
("PMLLC"), is the sole general partner of PCII and Brian Warner is a member
of and the sole manager of PMLLC. BF is the other member of PMLLC.
Performance Management Holding Corp., a Delaware corporation ("PMHC"), is the
sole investment manager of POL and Brian Warner is the President, sole
director and a shareholder of PMHC. BF is also a shareholder of PMHC.
Jordan Warner is a retired individual who resides at 137 Golf View Drive,
Jericho, New York 11753. The address of principal business office of PCI,
PCII, PCLLC, PMLLC, PMHC, Brian Warner and BF is 767 Third Avenue, 16th
Floor, New York, NY 10017. The address of principal business office of POL
is Corporate Centre, West Bay Road, P.O. Box 31106 SMB, Grand Cayman, Cayman
Islands, B.W.I.
Item 2(d), (e)
This Statement relates to the Common Stock, $.01 per value per share (the
"CCC Common Stock") of CCC. The CUSIP number for the CCC Common Stock is
226153 10 4.
Item 3. If this statement is filed pursuant to Sections 240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a :
Not Applicable
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 8 of 12
Item 4. Ownership
Item 4(a), (b)
PCI owns 934,100 shares of CCC Common Stock, representing 4.5% of
CCC's issued and outstanding shares (based on 20,681,725 shares outstanding
at July 23, 1999). PCII owns 115,400 shares of CCC Common Stock,
representing 0.6% of CCC's issued and outstanding shares (based on 20,681,725
shares outstanding at July 23, 1999). POL owns 73,100 shares of CCC Commons
Stock, representing 0.4% of CCC's issued and outstanding shares (based on
20,681,725 shares outstanding at July 23, 1999). BF owns 100 shares of CCC
Common Stock, representing 0.1% of CCC's issued and outstanding shares (based
on 20,681,725 shares outstanding at July 23, 1999). JW owns 7,000 shares of
CCC Common Stock, representing 0.1% of CCC's issued and outstanding shares
(based on 20,681,725 shares outstanding at July 23, 1999).
Item 4(c)
Each Member is the sole beneficial owner of the securities
identified in subsection (a) above. PCLLC, as the sole general partner of
PCI, has sole voting and dispositive power over the CCC Common Stock owned by
PCI. PMLLC, as the sole general partner of PCII, has sole voting and
dispositive power over the shares of CCC Common Stock owned by PCII. PMHC,
as the sole investment manager of POL, has sole voting and dispositive power
over the CCC Common Stock owned by POL. BF has the sole voting and
dispositive power over the CCC Common Stock owned by BF. Brian Warner has
the sole voting and dispositive power over the CCC Common Stock owned by JW.
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
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 9 of 12
Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my 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.
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 10 of 12
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: September 3, 1999
PERFORMANCE CAPITAL, L.P.
By: Performance Capital, LLC, General
Partner
By: /s/ BRIAN WARNER
-----------------------------------------
Brian Warner, Manager
PERFORMANCE CAPITAL II, L.P.
By: Performance Management, LLC General
Partner
By: /s/ BRIAN WARNER
-----------------------------------------
Brian Warner, Manager
PERFORMANCE OFFSHORE, LTD.
By: Performance Management Holding Corp.,
Investment Manager
By: /s/ BRIAN WARNER
-----------------------------------------
Brian Warner, President
BRETT FIALKOFF, IRA
By: /s/ BRETT FIALKOFF
-----------------------------------------
Brett Fialkoff
JORDAN WARNER
By: /s/ JORDAN WARNER
-----------------------------------------
Jordan Warner
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 11 of 12
JOINT FILING AGREEMENT
JOINT FILING AGREEMENT made as of this 3rd day of September, 1999, by
and among PERFORMANCE CAPITAL, L.P., PERFORMANCE CAPITAL II, L.P.,
PERFORMANCE OFFSHORE, LTD., BRETT FIALKOFF, IRA and JORDAN WARNER.
W I T N E S S E T H :
WHEREAS, PERFORMANCE CAPITAL, L.P., PERFORMANCE CAPITAL II, L.P.,
PERFORMANCE OFFSHORE, LTD., BRETT FIALKOFF, IRA and JORDAN WARNER
collectively beneficially own more than five (5%) percent of the issued and
outstanding common stock, $.01 par value, of CRESTLINE CAPITAL CORPORATION
("CCC Common Stock"), a Maryland corporation; and
WHEREAS, the parties desire to file a Schedule 13G with the Securities
and Exchange Commission ("SEC").
NOW, THEREFORE, the parties agree as follows:
1. PERFORMANCE CAPITAL, L.P., PERFORMANCE CAPITAL II, L.P.,
PERFORMANCE OFFSHORE, LTD., BRETT FIALKOFF, IRA and JORDAN WARNER hereby
agree to jointly file a Schedule 13G with the SEC regarding the beneficial
ownership of PI Common Stock and to file any and all amendments and
supplements thereto.
2. This Agreement contains the entire agreement among the parties
concerning the subject matter hereof and may not be amended, modified or
changed except pursuant to a written instrument signed by all parties.
SCHEDULE 13G
CUSIP No. 226153 10 4 Page 12 of 12
IN WITNESS WHEREOF, the parties have signed this Agreement the day and
year first above written.
PERFORMANCE CAPITAL, L.P.
By: Performance Capital, LLC, General
Partner
By: /s/ BRIAN WARNER
-----------------------------------------
Brian Warner, Manager
PERFORMANCE CAPITAL II, L.P.
By: Performance Management, LLC General
Partner
By: /s/ BRIAN WARNER
-----------------------------------------
Brian Warner, Manager
PERFORMANCE OFFSHORE CORP.
By: Performance Management Holding Corp.,
Investment Manager
By: /s/ BRIAN WARNER
-----------------------------------------
Brian Warner, President
BRETT FIALKOFF, IRA
By: /s/ BRETT FIALKOFF
-----------------------------------------
Brett Fialkoff
JORDAN WARNER
By: /s/ JORDAN WARNER
-----------------------------------------
Jordan Warner
