American Spectrum Realty (NYSE MKT: AQQ) today announced a recent
court filing in the Southern District of Texas as negotiations regarding
three loans pertaining to four Houston commercial properties broke down
with a private equity firm, which acquired the loans from the original
lender.
Three of American Spectrum Realty wholly-owned subsidiaries, which own
four real property assets, filed bankruptcy petitions under Chapter 11
of the United States Bankruptcy Code. All of these properties have been
posted for foreclosure. The three subsidiaries are ASR-8 Centre LP,
ASR-Parkway One & Two LP and ASR-Fountainview Place LP. The docket
number for the jointly administered filings is Case No.
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