American Spectrum Realty Management LLC’s Director of Receivership Steven Speier was Appointed Receiver of Three Shopping C...
11 January 2012 - 2:02AM
Business Wire
American Spectrum Realty, Inc. (NYSE AMEX: AQQ) (“The Company”),
a real estate investment, management and leasing company,
headquartered in Houston, Texas announced that Steven M. Speier,
Director of Receivership, Bankruptcy and Litigation Services for
American Spectrum Realty Management, LLC (“ASRM”), was appointed
Receiver for three shopping centers. ASRM is a wholly owned
subsidiary of The Company’s Operating Partnership. Mr. Speier in
turn appointed ASRM to manage the assets.
The three retail properties are located in central California
and range in size from approximately 22,000 square feet to over
100,000 square feet of gross leaseable area.
Mr. Speier has been appointed as a California State Court
Receiver on over four hundred properties and operating businesses,
including office buildings, retail centers, condominium and
apartment complexes, hotels/motels, industrial parks, resorts, golf
courses, restaurants, and residential properties. He is also
currently serving as Receiver in various operating businesses and
real estate cases as well as a Chapter 7 and 11 Trustee on numerous
bankruptcy cases.
ASRM offers one-stop shopping by providing all
Receivership/Bankruptcy, Management and Disposition services
in-house. Our experienced professionals have the resources
necessary to seize assets quickly, improve operations, and minimize
loss by promptly liquidating the assets. To learn more about ASRM’s
receivership services, please visit
www.asrmanagement.com/receiverships-bankruptcy.
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, and apartments
throughout the United States. The company has been publicly traded
since 2001. American Spectrum Realty Management, LLC is a
wholly-owned subsidiary of the Company’s operating partnership that
manages and leases all properties owned by American Spectrum
Realty, Inc. as well as third-party clients.
ASRM provides first-class management and leasing services for
over 110 office, industrial, retail, self-storage, and multi-family
properties, totaling over 12 million square feet in 18 states. For
more information, visit www.asrmanagement.com or call
888-315-ASRM.
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.
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