This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Evergreen Realty REIT Re-Elects Board Of Directors And Changes Name To American Spectrum REIT I

Evergreen Realty REIT, Inc. (the “REIT”) announced today that its shareholders had re-elected to its Board the slate of directors proposed by its management rather than an opposition slate proposed by Everest Properties, Inc. and that the shareholders had approved changing the name of the REIT to American Spectrum REIT I, Inc. The re-elected directors are William J. Carden, Jonathan T. Brohard and Morris S. Cohen. Mr. Carden is Chairman and CEO of American Spectrum Realty, Inc. (NYSE Amex: AQQ) (“American Spectrum”), and Mr. Brohard is President of American Spectrum Realty Management, LLC (“ASRM”), a wholly-owned subsidiary of American Spectrum. The Board re-election and name change were both approved by votes from an overwhelming majority of the REIT’s shareholders.

ASRM, together with its affiliates, provides first-class management and leasing services for 120 properties, which consist of 8,951,240 square feet of office, industrial and retail, 2,934 multi-family units, 12,098 self storage units consisting of 1,793,881 square feet, 3,206 student housing units consisting of 9,107 beds and nine assisted living facilities consisting of 776 beds. ASRM’s management portfolio comprises properties located in 22 states. American Spectrum Realty Advisors, LLC (“ASRA”) provides real estate advisory services to the REIT and to ASRM. ASRA is also a wholly-owned subsidiary of American Spectrum.

The current Board was first elected, and ASRA was appointed the advisor to the REIT, in October of 2009. Mr. Carden said that he was proud of the accomplishments of the American Spectrum management team since that time and was pleased at the vote of confidence in American Spectrum that this vote represents.

American Spectrum Realty, Inc. is a real estate investment company that owns, through an operating partnership, 31 offices, industrial, self storage and retail properties aggregating approximately 2.8 million square feet in California, Texas, Arizona and the Midwest, and has been publicly traded since 2001. American Spectrum Management Group, Inc., a wholly-owned subsidiary of the Company’s operating partnership, manages and leases all properties owned by American Spectrum Realty, Inc.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AQQ $0.12 9.09%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs