American Spectrum Realty, Inc. (AMEX: AQQ) (“the Company”), a real estate investment, management and leasing company headquartered in Houston, Texas, announced today the forward-looking statements for 2010-2013 for the Company.
     

Years: 2010-2013 (Dollars in thousands)
   
Description

 

 

Gross Revenue
   

 

 

 

Expenses
 

 

Debt Service

(Principal & Interest)
 

Cash Flow After DebtService/Before CapitalImprovements &Leasing Commissions
                     
American Spectrum Realty, Inc. Real Estate Portfolio - 2010 Annualized Forecast (Jan 2010 - Jun 2010 Actual)

$

39,534

$ (25,621)*

$

(15,428

)

$

(1,515

)
 
American Spectrum Realty, Inc. Real Estate Portfolio - Year: 2011 $ 39,957 $ (24,457 ) $ (15,232 ) $ 268
 
American Spectrum Realty, Inc. Real Estate Portfolio - Year: 2012 $ 43,167 $ (24,971 ) $ (15,333 ) $ 2,863
 
American Spectrum Realty, Inc. Real Estate Portfolio - Year: 2013 $ 44,424     $ (25,655 )   $ (15,372 )   $ 3,397  
 

Footnotes/Underwriting Assumptions:

NOTE: These projections are based on the current properties owned by the Company and the current third party management contracts associated with the Evergreen portfolio. The Company is in discussion to acquire other companies’ management contracts and their related assets. The Company currently manages additional properties for third party clients that generate fees above and beyond that are included above.

* Annualized 2010 expenses include a one-time expense of approximately $2,000,000 related to the Evergreen acquisition.