American Spectrum Realty, Inc. (NYSE AMEX: AQQ) (“The Company”), a real estate investment, management and leasing company headquartered in Houston, Texas, announced today that it has named Bill McGrath, CCIM President of American Spectrum Management Group, Inc. (“ASMG”). American Spectrum Management Group, Inc. is a wholly-owned subsidiary of the Company that provides asset management, leasing, and property management services for all properties owned by American Spectrum Realty, Inc. as well as properties nationally for third-party clients.
Mr. McGrath has been an integral part of American Spectrum Realty, Inc. since its inception and has worked for the company in various capacities since 2000. He was originally hired to lead the Company’s asset management and leasing efforts for its owned real estate portfolio primarily consisting of office, retail, and light industrial space. His successful tactics and industry expertise produced extraordinary results and he was soon promoted to Director of Operations.
Upon acquiring a large management portfolio in January 2010, Mr. McGrath was promoted to Senior Vice President of Operations to oversee the company’s office, retail, industrial, self-storage, multi-family, and student housing portfolios. His responsibilities included evaluating and implementing pro-forma performance, meeting target leasing and management goals, and overseeing the operations for all owned and third-party properties nationwide.
Mr. McGrath as President will focus on creative solutions to industry challenges and continue to lead the management company in its commitment to providing exceptional value to a diverse mix of investors and property owners nationwide. “I’m excited to take on this responsibility and look forward to some changes in 2013 that will provide better service to our clients and customers,” says Bill. In addition, Mr. McGrath has plans to significantly grow the company’s managed portfolio over the next 12 months. Mr. McGrath has over 25 years of real estate experience and has served clients in lease negotiations, acquisitions, dispositions, due diligence, management and contract negotiations throughout the country.
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