8-K

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION


                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


                                January 27, 2006
                Date of Report (Date of earliest event reported)


                         American Spectrum Realty, Inc.

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             (Exact name of registrant as specified in its charter)


Maryland                          001-16785                           52-2258674
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(State or Other                  (Commission                    (I.R.S. Employer
Jurisdiction of                  File Number)                     Identification
incorporation)                                                              No.)


                5850 San Felipe, Suite 450, Houston, Texas 77057
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               (Address of principal executive offices) (Zip Code)


                                 (713) 706-6200
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              (Registrant's telephone number, including area code)


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          (Former name or former address, if changed since last report)


Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instructions A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))




Item 5.02 Departure of Directors or Principal  Officers;  Election of Directors;
Appointment of Principal Officers.

On January 27, 2006,  Patricia A. Nooney  resigned as Chief  Operating  Officer,
Senior Vice  President,  Treasurer,  Secretary  and Director of  Accounting  for
American Spectrum Realty, Inc. and its subsidiaries and affiliates. No new chief
operating officer has been named.

Effective as of January 27, 2006,  American Spectrum Realty's Board of Directors
appointed Richard M. Holland, as Vice President of Investments. Mr. Holland, age
52, has served as Director of Leasing for American  Spectrum Realty,  Inc. since
October 2002.

Also effective as of January 27, 2006, G. Anthony Eppolito was appointed as Vice
President of  Accounting,  Treasurer  and Secretary by the Board of Directors of
American  Spectrum Realty.  Mr.  Eppolito,  age 38, has served as Controller for
American  Spectrum  Realty,  Inc.  since  November  2004 and served as Assistant
Controller from March 2002 thru October 2004.



Item 9.01 Financial Statements and Exhibits.

(c)  Exhibits.

Exhibit         Description
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99.1            Press Release dated January 31, 2006

















                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                     AMERICAN SPECTRUM REALTY, INC.


                                     By:          /s/ William J. Carden
                                         ---------------------------------------
                                         Name:  William J. Carden
                                         Title: Chairman of the Board, President
                                                and Chief Executive Officer


Date: January 31, 2006

EX-99.1

                                                                    Exhibit 99.1


      American Spectrum Realty Announces Resignation of Patricia A. Nooney;
        Richard A. Holland and G. Anthony Eppolito Named Vice Presidents


     HOUSTON--(BUSINESS WIRE)--Jan. 31, 2006--American Spectrum Realty, Inc.
(AMEX:AQQ), a real estate investment and management company located in Houston,
Texas, announced today that Patricia A. Nooney, Senior Vice President, Chief
Operating Officer, Treasurer, Secretary, and Director of Accounting, has
resigned after many years of service. Ms. Nooney has held the position of Senior
Vice President since the formation of the company in 2001 and was appointed
Chief Operating Officer in November 2003. She is leaving American Spectrum
Realty, Inc. to become the Managing Director of the CB Richard Ellis office in
St. Louis, Missouri, where she currently resides.
     The Company also announced the appointments of Richard M. Holland as Vice
President of Investments and G. Anthony Eppolito as Vice President of
Accounting, Treasurer and Secretary.
     Mr. Holland has served as Director of Leasing for American Spectrum Realty,
Inc. since October 2002. He has a broad knowledge of office, industrial and
retail properties. His experience includes in excess of twenty years of leasing
experience with a wide variety of tenants including federal and state government
leases. Further abilities include budgeting and development of marketing plans,
prospecting, lease negotiations and lease preparation. He has experience working
with the brokerage community and developing marketing strategies for tenant
representative involvement. He has worked with tenant improvements and capital
improvement projects, understands ownership goals and objectives and has
property management experience. Mr. Holland holds a Bachelor of Business
Administration in Marketing from the University of Houston in Clear Lake, Texas
and has held a Texas Real Estate Broker's license since 1981.
     Mr. Eppolito has served as Controller for American Spectrum Realty, Inc.
since November 2004. He is a Certified Public Accountant with extensive
financial experience including staff supervision, SEC reporting, and maintaining
banker/lender relations. He has been with American Spectrum Realty since the
company's formation and served as Assistant Controller from March 2002 thru
October 2004. Mr. Eppolito holds a Bachelor of Business Administration in
Accounting from Texas A & M University in College Station, Texas.
     William J. Carden, President of American Spectrum stated, "During her
tenure with American Spectrum Realty, Ms. Nooney has consistently provided
strong leadership for our operations and has been a true asset to the company.
Her skills, talents and expertise in business have helped make significant
improvements in our operating performance. We will miss her contributions in the
future; however, I understand her desire to reduce her extensive travel
commitments, and she is joining another good company. We wish her only the
best." He added, "The appointments of Mr. Holland and Mr. Eppolito, with their
combined leasing, management and financial experience, will help the company
continue to successfully focus its portfolio of properties on the multi-tenant
office and industrial properties in the southwest."
     American Spectrum Realty, Inc. is a real estate investment and management
company that owns 20 office, industrial, and retail properties aggregating over
1.5 million square feet in California, Texas, Arizona, South Carolina and the
Midwest. Publicly traded on the American Stock Exchange since November 2001,
American Spectrum Realty's business plan focuses on expansion of office and
industrial property investments in California, Texas and Arizona.


     CONTACT: American Spectrum Realty, Inc., Houston
              William J. Carden, 713-706-6200