San Francisco, CA
Core investment team has been together for over 25 years and has managed private equity residential real estate funds since 1988. During this time, Prana has purchased over 490 and sold over 400 properties in New York City, the San Francisco Bay Area, and Los Angeles…
Prana Realty Company I is a Delaware corporation (the “Company”) that has qualified as, and intends to continue to qualify as, a real estate investment trust (“REIT”) for Federal income tax purposes. The Company has invested in, and intends to continue to invest in, existing real estate properties through a real estate operating partnership (the “Partnership”), in which it owns a 99% controlling interest as the general partner. The Partnership owns multi-family residential properties located in New York City and Los Angeles.
Investors purchase shares of non-voting common stock in the Company, which provides a current dividend distribution along with the potential for share appreciation based on increases in value of the properties owned by the Partnership. The Company offers a semi-annual buyout option for the purpose of repurchasing shares from shareholders who desire to withdraw from the Company or who wish to liquidate a portion of their shares. While this buyout option is subject to significant limitations (including there being available cash exceeding reserves), all previous share repurchase requests from investors have been met.