American Spectrum Realty Advisors has successfully negotiated a new loan for a 200,000 square foot industrial building, known as the Commerce Distributions Center. This facility is located in the city of Commerce (Los Angeles), CA.
We are excited to announce that American Spectrum Self-Storage Management, LLC, has been named the property management company of 19 self-storage properties. The properties will be marketed under the trademark name “1st American Storage”.
American Spectrum is pleased to announce that it has successfully negotiated its second loan refinance for first quarter 2013. A new loan for Northwest Spectrum Plaza located at 11755 West Little York in Houston, TX closed on March 28.
American Spectrum Realty Advisors ("ASRA") is proud to announce that it has successfully negotiated a new loan for Windrose Shopping Center located at 20423 Kuykendahl Road in Houston, TX.
American Spectrum has come to terms with Evergreen Realty Group (ERG) to settle a longstanding lawsuit (in regards to the note payable of $9.4 million) filed originally in 2010. The proposed terms of the settlement agreement have been formalized. The Company has agreed to pay $4.6 million in cash, a new note, and nonconvertible preferred stock as settlement of the $9.4 million note. The new debt will mature in 2017.
American Spectrum Management Group, Inc. (“ASMG”) is proud to announce that Bill McGrath, CCIM, has been named President of the management company for American Spectrum.
American Spectrum is proud to announce that it has successfully negotiated a new loan for the San Antonio III self-storage portfolio that was owned by 25 Tenant-In-Common investors (TICs). The individual ownership interests (comprised of 25 Tenant-In-Common investors) were converted into a newly formed limited liability company (LLC) per the new lender’s loan requirements. American Spectrum Realty, Inc. (“ASR”) became the managing member of the newly formed LLC.
ASMG is proud to announce that it has been awarded the management and leasing of a self-storage facility in Jonesboro, Georgia. Affordable Self-Storage is a 44,566 SF facility located just south of Atlanta, Georgia in Jonesboro. The property has 279 rentable units and includes amenities such as an on-site management office, video surveillance, 24 hour secured keypad access, drive-up units, exterior lighting, wide driveways, and moving supplies as well as RV, boat and vehicle storage.
American Spectrum Management Group, Inc. (“ASMG”), has been awarded the management and leasing of two existing self-storage facilities in Pineville and Ball, Louisiana.
Join us at this year's TSSA convention on October 14-16 in San Antonio, TX. Learn about the industry's best practices and learn about the newest trends in the self-storage industry. 1st American Storage will be exhibiting in booth #126, so we encourage each of you to stop by and see us.
Not registered for the trade show? No problem! Email us to see how you can receive your FREE TRADE SHOW PASSES today. We look forward to seeing you there!