American Spectrum Realty, Inc. (NYSE MKT: AQQ) - Further to the Company’s press release dated January 15, 2013 regarding the settlement agreement it had reached with Evergreen Realty Group, the Company wishes to clarify that the total settlement amount was $4.6 million. The total settlement of $4.6 million included cash, a new note, and nonconvertible preferred stock as settlement of the $9.4 million note.
About American Spectrum Realty, Inc.
American Spectrum Realty, Inc. is a real estate investment company that owns, through its operating partnership, interest in office, industrial, self-storage, retail properties, multi-family, and student housing properties throughout the United States. The Company has been publicly traded since 2001.
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.
Bill McGrath, CCIM, 713-706-6200