UNITED STATES SECURITIES AND EXCHANGE COMMISSION


                             Washington, D.C. 20549


                                    FORM 8-K


                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


                                December 20, 2004
                Date of Report (Date of earliest event reported)


                         American Spectrum Realty, Inc.
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            (Exact name of registrant as specified in its charter)


Maryland                           001-16785                       52-2258674
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(State or Other                   (Commission                   (I.R.S. Employer
Jurisdiction of                   File Number)                   Identification
incorporation)                                                         No.)


                5850 San Felipe, Suite 450, Houston, Texas 77057
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               (Address of principal executive offices) (Zip Code)


                                 (713) 706-6200
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              (Registrant's telephone number, including area code)

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          (Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instructions A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17
    CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
    CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
    Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
    Exchange Act (17 CFR 240.13e-4(c))




Item 8.01 Other Events.

On December 20, 2004, American Spectrum Realty, Inc. issued a press release, a
copy of which is attached hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

Exhibit           Description
- -------           -----------

99.1              Press Release dated December 20, 2004




                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                      AMERICAN SPECTRUM REALTY, INC.


                                      By: /s/ William J. Carden
                                         ---------------------------------------
                                         Name:  William J. Carden
                                         Title: Chairman of the Board, President
                                                and Chief Executive Officer


Date: December 20, 2004