Exhibit 99.1


                  American Spectrum Realty Announces
         Purchase of Two Retail Properties in Houston, Texas


    HOUSTON--(BUSINESS WIRE)--April 24, 2007--American Spectrum
Realty, Inc. (AMEX:AQQ), a real estate investment and management
company, headquartered in Houston, Texas, announced today the purchase
of 8 Centre and Windrose Center, retail properties located in Houston,
Texas, on April 23, 2007. Acquisition costs for the two properties
were funded with mortgage debt and cash. American Spectrum considers
these properties to be value-added real estate in one of its core
markets.

    8 Centre, located in Northwest Houston just west of Beltway 8 (Sam
Houston Parkway), consists of approximately 48,000 square feet and is
currently 92% leased. The project includes 11 acres of undeveloped
land which American Spectrum anticipates developing into 75,000 to
100,000 square feet of Industrial real estate. Major tenants at 8
Centre currently include Racing Solutions, Jump and Larry Gibson Golf
Clubs.

    Windrose is located in the rapidly growing area of Kuykendahl and
FM 2920 in North Houston across the street from a planned Loews Home
Improvement Center. The project is currently under construction and is
75% pre-leased. The project will contain approximately 28,000 square
feet of retail space upon completion, which is anticipated within the
next 90 days.

    William J. Carden, President and CEO, stated, "We are pleased to
add these two retail properties to our portfolio. These acquisitions
increase our Texas portfolio to over 1,550,000 square feet. We plan on
acquiring more real estate this year in Houston, Texas. Houston, and
Texas in general, is considered one of our core markets."

    Mr. Carden added, "Management and leasing of the building will be
handled by personnel in our corporate headquarters located in Houston.
Any leasing inquiries should be directed to Ric Holland, Vice
President of Investments, at 713-706-6200."

    American Spectrum Realty, Inc. is a real estate investment and
management company that owns 29 office, industrial, and retail
properties aggregating approximately 2.2 million square feet in
California, Texas, Arizona, South Carolina and the Midwest. Publicly
traded on the American Stock Exchange since November 2001, American
Spectrum Realty's business plan focuses on expansion of office and
industrial property investments in California, Texas and Arizona.


    CONTACT: American Spectrum Realty, Inc., Houston
             Chairman, President and CEO
             William J. Carden, 713-706-6200