American Spectrum RealtyEnters into Memorandum of Understandingwith Evergreen Realty Group
Business Wire
Sep 10, 2009
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 Memorandum of
Understanding with Evergreen Realty Group, LLC to acquire its property
management contracts. The acquisition is subject to completion of a
purchase and sale agreement and due diligence. There can be no assurance
that the transaction will be consummated.
American Spectrum Realty, Inc. is a real estate investment company that
owns 29 office, industrial and retail properties aggregating
approximately 2.7 million square feet in California, Texas, Arizona and
the Midwest and has been publicly traded on the Exchange since 2001.
American Spectrum Realty Management, Inc., a wholly-owned subsidiary of
American Spectrum Realty, Inc., manages and leases all properties owned
by American Spectrum Realty and all third parties. American Spectrum
Realty’s business plan focuses on acquisition of value-added real estate
investments in its core markets of California, Texas and Arizona.
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