These three new appointments follow the resignation of Board Member Presley E. Werlein, III. Mr. Werlein notified the Company of his intent to resign effective September 28, 2012, stating that he has accepted several new business projects that will require extensive travel and time, therefore limiting his ability to serve on the Board of Directors of the Company. He also expressed his pleasure serving on the Board and wished future success for the Company. Mr. Werlein had served as Chairman of the Company’s Compensation and Nominating/Corporate Governance Committees since 2006.
About American Spectrum Realty, Inc.
American Spectrum Realty, Inc. is a real estate investment company that owns, through its operating partnership, office, industrial, self-storage, retail properties, and multi-family properties throughout the United States. The company has been publicly traded since 2001. American Spectrum Management Group, Inc. (“ASMG”) is a wholly-owned subsidiary of the Company that manages and leases all properties owned by American Spectrum Realty, Inc. as well as third-party clients.
ASMG provides first-class management and leasing services for office, industrial, retail, self-storage, and multi-family properties, totaling over 11 million square feet in 18 states. For more information visit www.americanspectrum.com or call 888-315-2776.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.