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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Affordable Residential Communities Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
008273104
--------------------------------------------------------------------------------
(CUSIP Number)
September 21, 2006
--------------------------------------------------------------------------------
(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).
(Continued on following pages)
Page 1 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 1,713,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
1,713,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,713,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
3.9%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 2 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 2,057,600
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
2,057,600
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
2,057,600
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
4.7%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 3 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners II, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 118,700
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
118,700
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
118,700
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.3%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 4 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners III, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 146,200
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
146,200
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
146,200
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.3%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 5 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tinicum Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
New York
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 54,600
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
54,600
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
54,600
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.1%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 6 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Offshore Investors II, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Cayman Islands
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 262,890
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
262,890
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
262,890
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.6%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
PN
------------====================================================================
Page 7 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Management, L.L.C.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 199,010
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
199,010
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
199,010
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IA, OO
------------====================================================================
Page 8 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Partners, L.L.C.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
Delaware
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,352,990
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,352,990
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,352,990
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.0%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
OO
------------====================================================================
Page 9 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Chun R. Ding
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 10 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 11 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Charles E. Ellwein [See Preliminary Note]
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY -0-
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
-0-
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
-0-
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
0.0%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 12 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 13 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Monica R. Landry
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 14 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Mellin
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 15 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen L. Millham
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 16 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jason E. Moment
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 17 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Rajiv A. Patel
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 18 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Derek C. Schrier
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 19 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas F. Steyer
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 20 of 27 Pages
13G
===================
CUSIP No. 008273104
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mark C. Wehrly
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 4,552,000 Shares, which is 10.4% 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
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
------------====================================================================
SOLE VOTING POWER
NUMBER OF 5
-0-
------------================================================
SHARES SHARED VOTING POWER
BENEFICIALLY 6
OWNED BY 4,552,000
------------================================================
SOLE DISPOSITIVE POWER
EACH 7
-0-
------------================================================
REPORTING SHARED DISPOSITIVE POWER
PERSON WITH 8
4,552,000
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
4,552,000
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
10 CERTAIN SHARES (See Instructions) [ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11
10.4%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
12
IN
------------====================================================================
Page 21 of 27 Pages
This Amendment No. 2 to Schedule 13G amends and restates in its
entirety the Schedule 13G initially filed on October 5, 2005 (collectively, with
all amendments thereto, the "Schedule 13G").
Preliminary Note: This Amendment reports that effective on April 3,
2006 Charles E. Ellwein resigned as a managing member of Farallon Capital
Management, L.L.C. and Farallon Partners, L.L.C., two of the Reporting Persons
listed below, and as such may no longer be deemed to be a beneficial owner of
the securities beneficially owned by such entities as of such date.
Item 1. Issuer
------
(a) Name of Issuer:
--------------
Affordable Residential Communities Inc. (the "Company")
(b) Address of Issuer's Principal Executive Offices:
-----------------------------------------------
600 Grant Street, Suite 900, Denver, Colorado 80203
Item 2. Identity And Background
-----------------------
Title Of Class Of Securities And CUSIP Number (Item 2(d) and (e))
----------------------------------------------------------------
This statement relates to shares of Common Stock, par value $0.01 per
share (the "Shares"), of the Company. The CUSIP number of the Shares is
008273104.
Name Of Persons Filing, Address Of Principal Business Office And
-----------------------------------------------------------------------
Citizenship (Item 2(a), (b) and (c))
------------------------------------
This statement is filed by the entities and persons listed below, all
of whom together are referred to herein as the "Reporting Persons."
The Farallon Funds
------------------
(i) Farallon Capital Partners, L.P., a California limited
partnership ("FCP"), with respect to the Shares held
by it;
(ii) Farallon Capital Institutional Partners, L.P., a
California limited partnership ("FCIP"), with respect
to the Shares held by it;
(iii) Farallon Capital Institutional Partners II, L.P., a
California limited partnership ("FCIP II"), with
respect to the Shares held by it;
(iv) Farallon Capital Institutional Partners III, L.P., a
Delaware limited partnership ("FCIP III"), with
respect to the Shares held by it;
Page 22 of 27 Pages
(v) Tinicum Partners, L.P., a New York limited
partnership ("Tinicum"), with respect to the Shares
held by it; and
(vi) Farallon Capital Offshore Investors II, L.P., a
Cayman Islands exempted limited partnership ("FCOI
II"), with respect to the Shares held by it.
FCP, FCIP, FCIP II, FCIP III, Tinicum and FCOI II are together referred
to herein as the "Farallon Funds."
The Management Company
----------------------
(vii) Farallon Capital Management, L.L.C., a Delaware
limited liability company (the "Management Company"),
with respect to the Shares held by an entity managed
by the Management Company (the "Managed Entity").
The Farallon General Partner
----------------------------
(viii) Farallon Partners, L.L.C., a Delaware limited
liability company which is the general partner of
each of the Farallon Funds (the "Farallon General
Partner"), with respect to the Shares held by each of
the Farallon Funds.
The Farallon Managing Members
-----------------------------
(ix) The following persons who are, or solely with respect
to Charles E. Ellwein, were, managing members of both
the Farallon General Partner and the Management
Company, with respect to the Shares held by the
Farallon Funds and the Managed Entity: Chun R. Ding
("Ding"), William F. Duhamel ("Duhamel"), Charles E.
Ellwein ("Ellwein"), Richard B. Fried ("Fried"),
Monica R. Landry ("Landry"), William F. Mellin
("Mellin"), Stephen L. Millham ("Millham"), Jason E.
Moment ("Moment"), Rajiv A. Patel ("Patel"), Derek C.
Schrier ("Schrier"), Thomas F. Steyer ("Steyer") and
Mark C. Wehrly ("Wehrly").
Ding, Duhamel, Ellwein, Fried, Landry, Mellin, Millham, Moment, Patel,
Schrier, Steyer and Wehrly are together referred to herein as the "Farallon
Individual Reporting Persons."
The citizenship of each of the Farallon Funds, the Management Company
and the Farallon General Partner is set forth above. Each of the Farallon
Individual Reporting Persons is a citizen of the United States. The address of
the principal business office of each of the Reporting Persons is c/o Farallon
Capital Management, L.L.C., One Maritime Plaza, Suite 1325, San Francisco,
California 94111.
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 An Entity
-----------------------------------------------------------------------
Specified In (a) - (j):
-----------------------
Page 23 of 27 Pages
Not Applicable.
If This Statement Is Filed Pursuant To Section 240.13d-1(c), Check This
-----------------------------------------------------------------------
Box. [X]
--------
Item 4. Ownership
---------
The information required by Items 4(a) - (c) and set forth in Rows 5
through 11 of the cover page for each Reporting Person hereto is incorporated
herein by reference for each such Reporting Person.
The Shares reported hereby for the Farallon Funds are owned directly by
the Farallon Funds and those reported by the Management Company on behalf of the
Managed Entity are owned directly by the Managed Entity. The Farallon General
Partner, as general partner to the Farallon Funds, may be deemed to be the
beneficial owner of all such Shares owned by the Farallon Funds. The Management
Company, as manager to the Managed Entity, may be deemed to be the beneficial
owner of all such Shares owned by the Managed Entity. The Farallon Individual
Reporting Persons, as managing members of both the Farallon General Partner and
the Management Company with the power to exercise investment discretion, may
each be deemed to be the beneficial owner of all such Shares owned by the
Farallon Funds and the Managed Entity. Each of the Management Company, the
Farallon General Partner and the Farallon Individual Reporting Persons hereby
disclaims any beneficial ownership of any such Shares.
Item 5. Ownership Of Five Percent Or Less Of A Class
--------------------------------------------
See Preliminary Note above.
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
---------------------------------------------------------
The Reporting Persons are filing this Schedule 13G pursuant to Section
240.13d-1(c). Consistent with Item 2 of the cover page for each Reporting Person
above, the Reporting Persons neither disclaim nor affirm the existence of a
group among them.
Item 9. Notice Of Dissolution Of Group
------------------------------
Not Applicable.
Page 24 of 27 Pages
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.
Page 25 of 27 Pages
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: October 2, 2006
/s/ Monica R. Landry
----------------------------------------
FARALLON PARTNERS, L.L.C.,
On its own behalf and
as the General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
TINICUM PARTNERS, L.P. and
FARALLON CAPITAL OFFSHORE INVESTORS II, L.P.
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
----------------------------------------
FARALLON CAPITAL MANAGEMENT, L.L.C.
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
----------------------------------------
Monica R. Landry, individually and as attorney-in-fact for
each of Chun R. Ding, William F. Duhamel, Charles E. Ellwein,
Richard B. Fried, William F. Mellin, Stephen L. Millham, Jason E.
Moment, Rajiv A. Patel, Derek C. Schrier, Thomas F. Steyer and
Mark C. Wehrly
The Powers of Attorney executed by Duhamel, Fried, Mellin, Millham,
Steyer and Wehrly authorizing Landry to sign and file this Schedule 13G on each
person's behalf, which were filed with Amendment No. 2 to the Schedule 13D filed
with the Securities and Exchange Commission on July 16, 2003, by such Reporting
Persons with respect to the Common Stock of New World Restaurant Group, Inc.,
are hereby incorporated by reference. The Powers of Attorney executed by Ding
and Schrier authorizing Landry to sign and file this Schedule 13G on each
person's behalf, which were filed with Amendment No. 1 to the Schedule 13D filed
with the Securities and Exchange Commission on July 2, 2003, by such Reporting
Persons with respect to the Common Stock of Salix Pharmaceuticals, Ltd., are
hereby incorporated by reference. The Powers of Attorney executed by Ellwein and
Patel authorizing Landry to sign and file this Schedule 13G on each person's
behalf, which was filed with Amendment No. 4 to
Page 26 of 27 Pages
the Schedule 13G filed with the Securities and Exchange Commission on January 8,
2004, by such Reporting Persons with respect to the Common Stock of Catalytica
Energy Systems, Inc., are hereby incorporated by reference. The Power of
Attorney executed by Moment authorizing Landry to sign and file this Schedule
13G on his behalf, which was filed with the Schedule 13D filed with the
Securities and Exchange Commission on January 9, 2006, by such Reporting Person
with respect to the Common Stock of Vintage Petroleum, Inc., is hereby
incorporated by reference.
Page 27 of 27 Pages