American Spectrum Realty, Inc. (NYSE AMEX: AQQ) (“The Company”), a real estate investment, management and leasing company, headquartered in Houston, Texas announced that its wholly owned subsidiary, American Spectrum Realty Management, LLC (“ASRM”), has been awarded the management and leasing assignment for the Newport Marina Apartments.
The 64 unit multi-family community is located at 919 Bayside Drive in Newport Beach, California, and is one of the very few properties in the area offering Bay front units for lease. In addition, the community offers 34 boat slips for rent on site. Conveniently located, Newport Marina Apartments is situated just off the Pacific Coast Highway and Jamboree Rd near Balboa Island. Any leasing inquiries should be directed to the leasing agent onsite at 949-760-0919.
ASRM’s national multi-family portfolio is compromised of a diverse mix of conventional apartments, student housing properties, and senior living facilities, representing over 3.3 million square feet. ASRM prides itself on providing superior customer service to increase resident satisfaction, enhancing market position and maximizing value for both third-party property owners and Tenant-in-Common investors. The company’s multi-family division provides a wide array of services such as accounting, leasing, marketing, property management, and asset management.
About American Spectrum Realty, Inc.American Spectrum Realty, Inc. is a real estate investment company that owns, through its operating partnership, interest in office, industrial, self storage, retail properties, and apartments throughout the United States. The company has been publicly traded since 2001. American Spectrum Realty Management, LLC is a wholly-owned subsidiary of the Company’s operating partnership that manages and leases all properties owned by American Spectrum Realty, Inc. as well as third-party clients. ASRM provides first-class management and leasing services for over 115 office, industrial, retail, self-storage, and multi-family properties, totaling over 13 million square feet in 18 states. 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.