A $4 Million Dollar Gain Announced by American Spectrum Realty on Sale of an Asset
04 Agosto 2014 - 10:00AM
Business Wire
American Spectrum Realty, Inc. (NYSE/MKT: AQQ) – a real estate
investment, management and leasing company – today announced that
it would record a $4 million gain in the second quarter of 2014 on
a real estate sale in Houston, TX.
The asset consists of two office buildings, totaling 175,423
square feet, located near the intersection of Fountain View Drive
and Westheimer Road near the Galleria area of Houston. American
Spectrum has been responsible for the renovations and leasing since
it acquired the buildings in December 2010.
“These results are based on creative leasing strategies that our
team used to significantly increase value,” according to William J.
Carden.
American Spectrum’s sale of this asset is consistent with its
long-term strategy of selling certain assets to reduce liabilities,
increase liquidity and redirect its focus on more profitable
endeavors. The company intends to continue the diversification of
its assets through acquisition and disposition of real estate.
ABOUT AMERICAN SPECTRUM REALTY, INC.
American Spectrum Realty, Inc. is a real estate investment
company that owns, through its operating partnership, interests in
office, industrial, retail, self storage, RV parks, retail,
multi-family properties and undeveloped land throughout the United
States. American Spectrum Management Group, Inc. is a wholly-owned
subsidiary of the Company’s operating partnership which manages and
leases all properties owned by American Spectrum Realty, Inc. as
well as properties owned by third-party clients. Website:
www.asrmanagement.com
FORWARD LOOKING STATEMENTS
Certain matters discussed in this release are forward-looking
statements that are subject to risks and uncertainties that could
cause actual results to differ materially from those projected,
including the risks and uncertainties of acquiring, owning,
operating and disposing of real estate. Such risks and
uncertainties are disclosed in the Company’s past and current
filings with the U.S. Securities and Exchange Commission.
American Spectrum Realty, Inc.Quentin Thompson, (713)
706-6277qthompson@asrmanagement.com
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