American Spectrum Realty, Inc. Announces Purchase of 3rd and 4th Buildings in Houston in 2006.HOUSTON -- American Spectrum Realty, Inc. (AMEX AMEX See: American Stock Exchange :AQQ AQQ Annual Qualifications Questionnaire ), a real estate investment and management company, headquartered in Houston, Texas, announced today its third and fourth purchases in 2006, two office buildings located in Houston, Texas. The first building is located at 2855 Mangum Road and has 71,849 rentable square feet. The building currently has 60 tenants and is 86% leased. The second building is located at 14741 Yorktown Plaza Drive and has 93,912 rentable square feet. It is a single tenant building and is currently 100% occupied by FMC Technologies. These two March purchases increase American Spectrum's total square footage in Texas to approximately 1.3 million square feet and increases its real estate projects in Houston to fifteen. The first building's purchase price of $5,400,000 consisted of assumption of debt, proceeds from a tax-deferred exchange, seller financing Seller financing Funding a purchase by a seller's loan to the buyer, the buyer takes full title to the property when the loan is fully repaid. and the remainder in cash. The second building's purchase price of $11,900,000 consisted of assumption of debt and proceeds from a tax-deferred exchange. William J. Carden, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "With the acquisition of the four new Houston properties this year, we continue to pursue our goal of increasing our presence in our core markets of Texas, Arizona and California." Management and leasing of the buildings will be handled by personnel at American Spectrum's corporate headquarters located in Houston. Any leasing inquiries should be directed to Bill McGrath, CCIM CCIM Certified Commercial Investment Member CCIM Centro Cultural Islámico de México CCIM Client Component Installation Manager (Microsoft) CCIM Comité Consultatif pour l'Informatique Médicale CCIM Command Computer Input Multiplexer , Regional Leasing Representative, at 713-706-6200. American Spectrum Realty, Inc. is a real estate investment and management company that owns 23 office, industrial, and retail properties aggregating approximately 1.9 million square feet in California, Texas, Arizona, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and the Midwest. Publicly traded on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. since November 2001, American Spectrum Realty's business plan focuses on expansion of office and industrial property investments in California, Texas and Arizona. |
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