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Murray Hamiltonmurray@primeeventgroup.com |
Kenn Franciskfrancis@prainc.netKenn Francis is the founder and owner of PRA. From 1986 until 1994, Kenn was a commercial broker in Phoenix specializing in the sale of larger income producing properties. He was one of the first brokers to develop and use lease-analysis software for building valuations and sales. Institutional relationships were the foundation of his brokerage business. In 1992, Kenn acquired his first commercial property from the RTC. From 1992 until 1996, he acquired approximately $150 million dollars in commercial property. The cornerstone was the Biltmore Financial Center located at 24th street and Camelback. In 1998 he decided to sell the bulk of the portfolio during the run-up of the Real Estate Investment Trust (REIT) cycle. This proved to be insightful and the portfolio led to strengthened relationships with private and institutional investors. In 1999 through 2002, Kenn re-entered the market buying properties in Arizona, Hawaii, Houston, and Southern California. During that period, numerous new relationships were established with large private and institutional partners. At that time, PRA’s asset base grew to $250 million dollars, and included office buildings, industrial parks, hotels and apartments. At the start of 2002, the real estate market began another unprecedented run-up. At that time, Kenn made the decision to slowly liquidate PRA’s portfolio. Most of the company’s assets were sold by 2006. Convinced that 2006 was not an optimum time to reinvest, Kenn decided to pursue several unique and interesting development opportunities. Another unique and interesting development is the Canal Walk Residences, located in the Waterfront area of downtown Scottsdale. This is the highest-end urban residential development in Arizona. The project includes 12 custom residences ranging from 3,800 sq. ft. to 6,500 sq. ft. priced in excess of $1,000 per square foot. The project is soon to break ground with over 50% already sold. |



















