The American Spectrum Realty, Inc for the Company of a real estate investment, management and leasing company headquartered in Houston, Texas is pleased to announce the completed sale of three buildings to have been pending for several months in the cash proceeds enabled the company to reduce its corporate bank debt by approximately $2 million freeing up additional borrowing capabilities from its primary lender and the american spectrum used the proceeds to reduce their accounts payable by approximately $1 million.
The Company also procured a $2 million loan secured by various company assets. in the loan will be used to further reduce corporate debt and for general working capital. to sales continue to implement American Spectrum Realty’s long term strategic plan of selling certain assets to reduce liabilities, increase liquidity and redirect assets to our third-party property management business.
And the about american spectrum realty, inc is a real estate investment company that owns to operating partnership, interest in office, industrial, self storage, retail properties, and apartments throughout the United States in the company has been publicly traded since 2001.
The Company also procured a $2 million loan secured by various company assets. in the loan will be used to further reduce corporate debt and for general working capital. to sales continue to implement American Spectrum Realty’s long term strategic plan of selling certain assets to reduce liabilities, increase liquidity and redirect assets to our third-party property management business.
And the about american spectrum realty, inc is a real estate investment company that owns to operating partnership, interest in office, industrial, self storage, retail properties, and apartments throughout the United States in the company has been publicly traded since 2001.
