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
September 11, 2012
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 750, 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 September 11, 2012, 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 September 11, 2012 |
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: September 13, 2012
Exhibit 99.1
AMERICAN SPECTRUM REALTY, INC. William J. Carden, Chairman, President and CEO
|
FOR IMMEDIATE RELEASE |
AMERICAN SPECTRUM REALTY, INC. WILL REALIZE AN $800,000 GAIN
IN THE THIRD QUARTER 2012
Houston, TX, September 11, 2012 American Spectrum Realty, Inc. (AMEX:AQQ) (“the Company”), a real estate investment, management and leasing company headquartered in Houston, Texas, announced today that it has successfully satisfied the loan with one of its banks. The Company’s loan had been restructured, but the bank had offered a significant discount for the loan to be paid off early. The Company paid the bank $1.0 million for a complete satisfaction of the loan, which had a principal balance and accrued interest due of approximately $1.8 million. The Company anticipates that a gain of approximately $0.8 million will be recognized on the transaction during the third quarter of 2012. A mutual release settles all issues regarding this loan for both parties.
American Spectrum Realty, Inc. is a real estate investment company that owns, through its operating partnership, interest in 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.
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.