American Spectrum Realty, Inc. (NYSE AMEX: AQQ), a real estate investment, management and leasing company, headquartered in Houston, Texas, stated today that American Spectrum Realty Management, LLC (“ASRM”) has been chosen by CITY NATIONAL BANK to manage numerous apartment properties in Los Angeles and Orange Counties.
These contracts mark a strong vote of confidence in the American Spectrum Realty Management LLC’s ability to manage effectively and efficiently assets that have become under the ownership control of CITY NATIONAL BANK through foreclosure or other means.
ASRM, together with its affiliates, provides first-class management and leasing services for approximately 125 properties, which consist of 8,951,240 square feet of office, industrial and retail, 2,934 multi-family units, over 13,000 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.
About American Spectrum Realty, Inc.American Spectrum Realty, Inc. is a real estate investment company that owns, manages, and operates through an operating partnership 32 office, industrial and retail properties aggregating approximately 2.9 million square feet in California, Texas, Arizona and the Midwest and has been publicly traded on the NYSE AMEX since 2001. American Spectrum Management Group, Inc. (“ASMG”) and American Spectrum Realty Management, LLC, (each, wholly-owned subsidiaries of American Spectrum Realty, Inc.) are responsible for the leasing and management of approximately 125 properties totaling over two billion of value in 22 states. American Spectrum Realty Advisors, LLC (“ASRA”) provides real estate advisory services to ASRM. ASRA is also a wholly owned subsidiary of American Spectrum. ASRM and ASMG manage and lease all properties owned by American Spectrum Realty, Inc. as well as third party properties. The company plans to continue to aggressively pursue third party management and leasing from other institutional clients.