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

June 2, 2010
Date of Report (Date of earliest event reported)

American Spectrum Realty, Inc.

(Exact name of registrant as specified in its charter)

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

2401 Fountain View, Suite 510, Houston, Texas 77057

(Address of principal executive offices)      (Zip Code)

(713) 706-6200

(Registrant’s telephone number, including area code)

(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 8.01.  Other Events

On June 2, 2010, American Spectrum Realty, Inc. issued a press release, a copy of which is attached hereto as Exhibit 99.1.  

Item 9.01 Financial Statements and Exhibits.

(c)     Exhibits.

Exhibit	Description
99.1	Press Release dated June 2, 2010

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:	June 2, 2010

EX-99.1

Exhibit 99.1

American Spectrum Realty Enters into Letter of Intent with Amerifund Capital Securities

HOUSTON--(BUSINESS WIRE)--June 2, 2010--American Spectrum Realty, Inc. (NYSE AMEX:AQQ) (the “Company”), a real estate investment and management company headquartered in Houston, Texas, announced today that it has entered into a letter of intent with Amerifund Capital Securities, LLC, a Houston-based investment banking firm (“Amerifund”), with respect to a proposed private placement of convertible preferred stock. The private placement is subject to various conditions. If it is consummated, the Company expects to sell up to $10,000,000 in convertible preferred stock to institutional investors.

William J. Carden, CEO, said that the proposed private placement will, if consummated, provide the Company with capital to expand its property portfolio and to its third-party property management business.

American Spectrum Realty, Inc. is a real estate investment company that owns, through an operating partnership, 29 offices, industrial and retail properties aggregating approximately 2.6 million square feet in California, Texas, Arizona and the Midwest, and has been publicly traded since 2001. American Spectrum Management Group, Inc., a wholly-owned subsidiary of the Company’s operating partnership, manages and leases all properties owned by American Spectrum Realty, Inc.

CONTACT:
American Spectrum Realty, Inc.
William J. Carden, 713-706-6200
Chairman, President and CEO