SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* PRANA HOLDING CO LLC (Last) (First) (Middle) 333 W 52ND ST STE 600 (Street) NEW YORK NY 10019 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol CENTURY REALTY TRUST [ CRLTS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 04/11/2005
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Shares of Beneficial Interest	04/11/2005		P		2,000	A	$16.14	269,049	I	See Notes(1)(2)(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* PRANA HOLDING CO LLC (Last) (First) (Middle) 333 W 52ND ST STE 600 (Street) NEW YORK NY 10019 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* PRANA REAL ESTATE SECURITIES LLC (Last) (First) (Middle) 665 THIRD ST STE 450 (Street) SAN FRANCISCO CA 94107 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* PRANA SECURITIES ADVISER LLC (Last) (First) (Middle) 333 WEST 52ND ST STE 600 (Street) NEW YORK NY 10019 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* PRANA SECURITIES FUND I L P (Last) (First) (Middle) 333 WEST 52ND ST STE 600 (Street) NEW YORK NY 10019 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* PRANA SECURITIES MANAGER LLC (Last) (First) (Middle) 333 WEST 52ND ST STE 600 (Street) NEW YORK NY 10019 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* MCKINNON NEIL C (Last) (First) (Middle) 665 THIRD ST STE 450 (Street) SAN FRANCISCO CA 94107 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* MCCRACKEN KURT C (Last) (First) (Middle) 333 WEST 52ND ST STE 600 (Street) NEW YORK NY 10019 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. The reporting persons (the "Reporting Persons") are Kurt C. McCracken, Neil C. McKinnon, Prana Holding Company, LLC, Prana Real Estate Securities, LLC, Prana Securities Manager, LLC (the "General Partner"), Prana Securities Adviser, LLC (the "Investment Manager") and Prana Securities Fund I, L.P. (the "Fund"). Mr. McCracken is the Chairman and a Manager of Prana Holding Company. Mr. McKinnon is a Manager of Prana Real Estate Securities and the President and a Manager of Prana Holding Company. Prana Holding Company is the sole member and a Manager of Prana Real Estate Securities. Prana Real Estate Securities is the sole member of the General Partner and the Investment Manager, and a Manager of the General Partner. The General Partner is the Fund's general partner and the Investment Manager is its investment adviser. The Fund is a Delaware limited partnership that invests primarily, but not solely, in securities of real estate investment trusts.

2. Mr. McCracken, Mr. McKinnon, Prana Holding Company, Prana Real Estate Securities, the General Partner and the Investment Manager are filing this Form 4 jointly and constitute a group within the meaning of Rule 13d-5(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), but disclaim membership in a group with any other person. The Fund is filing this Form 4 jointly with the other Reporting Persons, but not as a member of a group, and it expressly disclaims membership in a group with any other person.

3. These securities are held directly by the Fund for the benefit of its investors, and indirectly by Mr. McCracken, Mr. McKinnon, Prana Holding Company, Prana Real Estate Securities, the General Partner and the Investment Manager. The Reporting Persons, except for the Fund, disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interest therein. The filing of this Form 4 on behalf of the Fund should not be construed as an admission that it is, and it disclaims that it is, the beneficial owner, as defined in Rule 13d-3 under the Exchange Act, of any of the securities covered by this Form 4.

	Prana Holding Company LLC by Neil C. McKinnon, President	04/12/2005
	Prana Real Estate Securities, LLC by Neil C. McKinnon, President	04/12/2005
	Prana Securities Adviser, LLC by Neil C. McKinnon, President	04/12/2005
	Prana Securities Fund I, L.P., by Prana Securities Manager, LLC by Neil C. McKinnon, President	04/12/2005
	Prana Securities Manager, LLC by Neil C. McKinnon, President	04/12/2005
	Neil C. McKinnon	04/12/2005
	Kurt C. McCracken	04/12/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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