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

                                January 17, 2006
                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)

     (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 January 17, 2006, 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 January 17, 2006





                                   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:   January 17, 2006