X0201 4 2003-11-28 0 0000018914 CENTURY REALTY TRUST CRLTS 0001106400 PRANA HOLDING CO LLC 333 W 52ND ST STE 600 NEW YORK NY 10019 0 0 1 0 0001131917 PRANA SECURITIES ADVISER LLC 333 WEST 52ND ST STE 600 NEW YORK NY 10019 0 0 1 0 0001084387 PRANA SECURITIES FUND I L P 333 WEST 52ND ST STE 600 NEW YORK NY 10019 0 0 1 0 0001271011 PRANA REAL ESTATE SECURITIES LLC 665 THIRD ST STE 450 SAN FRANCISCO CA 94107 0 0 1 0 0001271052 PRANA SECURITIES MANAGER LLC 333 WEST 52ND ST STE 600 NEW YORK NY 10019 0 0 1 0 0001271012 MCKINNON NEIL C 665 THIRD ST STE 450 SAN FRANCISCO CA 94107 0 0 1 0 0001271014 MCCRACKEN KURT C 333 WEST 52ND ST STE 600 NEW YORK NY 10019 0 0 1 0 Shares of Beneficial Interest 2003-11-28 4 P 0 4500 11.61 A 189865 I See Notes The reporting persons ("Reporting Persons") are Kurt C. McCracken, Neil C. McKinnon, Prana Holding Company, LLC, Prana Real Estate Securities, LLC, Prana Securities Manager, LLC ("General Partner"), Prana Securities Adviser, LLC ("Investment Manager") and Prana Securities Fund I, L.P. ("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 the Fund's investment adviser. The Fund is a Delaware limited partnership that invests primarily, but not solely, in securities of real estate investment trusts. Mr. McCracken, Mr. McKinnon, Prana Holding Company, Prana Real Estate Securities, the General Partner and the Investment Manager are filing this Form 4 jointly as 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. 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 McKinnon, President 2003-12-02 Prana Securities Adviser, LLC, by Neil McKinnon, President 2003-12-02 Prana Securities Fund I, LLC, by Prana Securities Manager, LLC, its General Partner, by Neil McKinnon, President 2003-12-02 Prana Real Estate Securities, LLC, by Neil McKinnon, President 2003-12-02 Prana Securities Manager, LLC, by Neil McKinnon, President 2003-12-02 Neil C. McKinnon 2003-12-02 Kurt C. McCracken 2003-12-02