American Spectrum Drops $84.8M On Calif., Nev. Properties

Law360, New York (January 7, 2014, 1:11 PM EST) -- Houston-based real estate management company American Spectrum Realty Inc. has acquired a real estate portfolio of 19 varied properties in California and Nevada valued at $84.8 million, the company said Tuesday.

The portfolio, which consists of commercial and retail properties, multifamily and single-family residences and RV parks, was purchased with an exchange of preferred stock in American Spectrum and are owned by a wholly owned American Spectrum subsidiary, the company said. American Spectrum also took on $17.2 million in debt. The acquisition’s announced come a day...
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