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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 72a4UyFyLGljbp3nIWe6KQ==

<SEC-DOCUMENT>0000935836-09-000528.txt : 20090309
<SEC-HEADER>0000935836-09-000528.hdr.sgml : 20090309
<ACCEPTANCE-DATETIME>20090306181116
ACCESSION NUMBER:		0000935836-09-000528
CONFORMED SUBMISSION TYPE:	D/A
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(1)
FILED AS OF DATE:		20090309
DATE AS OF CHANGE:		20090306
EFFECTIVENESS DATE:		20090309

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Prana Realty CO I
		CENTRAL INDEX KEY:			0001417730
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		D/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-110733
		FILM NUMBER:		09664386

	BUSINESS ADDRESS:	
		STREET 1:		665 Third Street
		STREET 2:		Suite 450
		CITY:			San Francisco
		STATE:			CA
		ZIP:			94107
		BUSINESS PHONE:		(415) 543-1106

	MAIL ADDRESS:	
		STREET 1:		665 Third Street
		STREET 2:		Suite 450
		CITY:			San Francisco
		STATE:			CA
		ZIP:			94107
</SEC-HEADER>
<DOCUMENT>
<TYPE>D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0201</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001417730</cik>
        <entityName>Prana Realty CO I</entityName>
        <issuerAddress>
            <street1>665 Third Street, Suite 450</street1>
            <city>San Francisco</city>
            <stateOrCountry>CA</stateOrCountry>
            <zipCode>94107</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>(415) 543-1106</issuerPhoneNumber>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <jurisdictionOfInc>DE</jurisdictionOfInc>
        <entityType>Corporation</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2007</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Kurt</firstName>
                <middleName>C.</middleName>
                <lastName>McCracken</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1995 Broadway, 10th Floor</street1>
                <city>New York</city>
                <stateOrCountry>NY</stateOrCountry>
                <zipCode>10023</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Neil</firstName>
                <middleName>C.</middleName>
                <lastName>McKinnon</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>665 Third Street, Suite 450</street1>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>94107</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Director</relationship>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Eric</firstName>
                <middleName>S.</middleName>
                <lastName>Ziegler</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>665 Third Street, Suite 450</street1>
                <city>San Francisco</city>
                <stateOrCountry>CA</stateOrCountry>
                <zipCode>94107</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>REITS and Finance</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.1</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>9999999997-08-004292</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2008-01-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Class A Common Stock</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>100000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>100000000</totalOfferingAmount>
            <totalAmountSold>9205000</totalAmountSold>
            <totalRemaining>90795000</totalRemaining>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>36</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </findersFees>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>None, although an affiliate of the Company pays a portfolio management fee to an affiliate of a shareholder of the Company and pays a special profit allocation to another affiliate of the Company.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Prana Realty Company I</issuerName>
                <signatureName>Neil C. McKinnon</signatureName>
                <nameOfSigner>Neil C. McKinnon</nameOfSigner>
                <signatureTitle>President</signatureTitle>
                <signatureDate>2009-03-06</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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