Prairie Realty Advisors, Inc. ("PRA" or
the "Company") is a regional real estate financial services firm specializing
in origination and servicing of commercial mortgages and income producing
property. PRA was formed in September of 1992 to operate as an efficient
intermediary providing access to real estate capital as well as a
broad range of advisory services to medium sized institutional real
estate investors. To date PRA has arranged over $2.5 billion in mortgage
transactions.
As a mortgage banker, PRA originates, sells
and services commercial real estate loans. In return for providing
these services, the Company receives remuneration in the form of fees
from borrowers or clients for originating the transaction, and servicing
override fees for "servicing" loans for a lender. PRA has relationships
with many institutional lenders throughout the U.S. The firm is able
to provide capital to borrowers for loans ranging from $2,000,000
and above.
Headquartered in Chicago, the firm services
a direct market of over 15 million people. PRA takes special pride
in the fact that it is employed by its clients across geographic boundaries.
It works hard to create a bond between lender and borrower in an attempt
to realizing a higher percentage of repeat business.
As of January 2007, the firm has four employees.
Loan production and firm administration are the responsibility of
John F. Siff, President. Loan underwriting, administration, closing
and servicing are under the purview of Mr. Sandy Payne, Vice President.
In order to oversee the servicing portfolio, management has prudently
employed additional staff reporting to Payne.
Ms. Rosemarie Kern
came on board in 1998 to oversee day to day operation of the servicing
company. With 17 years of accounting and servicing experience, Ms.
Kern oversees all Investor reporting, the Annual Audit and year-end
reporting functions as well.
PRA has combined experience of over 100
years in the real estate profession. It is a member in good standing
with the Mortgage Bankers of America, Illinois Mortgage Bankers, State
of Illinois - Department of Professional Regulation, and the Urban
Land Institute. Mr. Siff, 50, has arranged, serviced, sold or purchased
over one billion dollars of real estate. He has been employed in the
mortgage banking industry since 1979 and held a myriad of staff and
line positions with several of the oldest and revered firms in Chicago.
Mr. Payne, 55, has been in the real estate business since 1974. Line
responsibilities have been broad, from acquisitions to portfolio management.
PRA is proud of its success over the past
twelve years. The Board of Directors consist of Management with outside
Directors from Buntz-Childress Ventures, Kirkland and Ellis, Marsh,
Marriott Corporation, PriceWaterhouseCoopers and Wolverine Mutual
Insurance Co.
