UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 8-KCURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934February 1219, 2015Date of Report (Date of earliest event reported)

American Spectrum Realty, Inc.

(Exact name of registrant as specified in its charter)

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

2401 Fountain View, Suite 750, Houston, Texas 77057 (Address of principal executive offices) (Zip Code) (713) 706-6200 (Registrant’s telephone number, including area code)

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

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 23.0401. ~~Triggering~~Notice ~~Events~~of ~~That~~Delisting ~~Accelerate~~ or ~~Increase~~Failure to Satisfy a ~~Direct~~Continued ~~Financial~~Listing ~~Obligation~~Rule or anStandard; ~~Obligation~~Transfer ~~under~~of ~~an Off-Balance Sheet Arrangement~~Listing.

On February 1219, 2015, American Spectrum Realty, Inc., ~~(the “Company”) filed~~ a ~~voluntary petition (the “Voluntary Petition”) for the~~Maryland ~~reorganization~~corporation ~~of one its subsidiaries, Verdugo, LLC~~ (~~“Verdugo”) under Chapter 11 of Title 11 of~~ the ~~United States Code (the~~ “~~Bankruptcy Code~~Company”) in ~~the~~received ~~U.S.~~a ~~Bankruptcy~~letter ~~Court~~indicating ~~for~~that the ~~Central District of California (the~~staff ~~“Bankruptcy Court”).~~of ~~The~~NYSE filing docket number is Case No. 8:15-bk-10701-SC. Verdugo filed the Voluntary Petition in response to foreclosure proceedings being instituted by D&A Semi-Annual Mortgage Fund IIIRegulation, LInc.P. (~~the~~ “~~Lender~~NYSE Regulation”)~~. Verdugo~~ ~~filed~~has ~~the~~determined ~~Voluntary~~to ~~Petition in~~commence ~~order~~proceedings to ~~preserve~~delist the ~~value~~Company’s ofcommon ~~its~~stock ~~multi-use~~from ~~retail~~the ~~and~~NYSE ~~medical~~MKT ~~office~~LLC ~~building located in Glendale, California~~ (the “~~Property~~NYSE MKT”). Trading ~~which the Company believes has a value~~ in ~~excess of~~ the ~~outstanding secured debt. The~~ Company’s ~~believes~~common ~~that~~stock ~~the~~has ~~value~~been ~~of the Property can be~~halted ~~preserved~~on ~~and maximized through either~~ a ~~plan~~continuous ofbasis ~~reorganization~~since ~~or orderly~~NYSE ~~marketing~~Regulation ~~and~~initiated ~~sale.~~a ~~Verdugo~~trading ~~will~~halt ~~continue to operate the~~on ~~Property~~April as15, ~~“debtor~~2014. Trading in ~~possession” in~~ the ~~ordinary~~Company’s ~~course~~common ~~under~~stock ~~the~~was immediately ~~jurisdiction~~suspended ofintra-day ~~the~~on ~~Bankruptcy~~February ~~Court~~19, ~~and~~2015. As indetermined ~~accordance~~by ~~with the~~NYSE ~~applicable~~Regulation, ~~provisions of~~ the ~~Bankruptcy~~suspension ~~Code~~is ~~and~~the ~~orders~~result of ~~the~~: ~~Bankruptcy Court.~~

On● ~~November~~the 1,Company’s ~~2014,~~inability ~~the~~to ~~$6,600,000~~complete ~~mortgage~~its ~~secured~~outstanding bySEC ~~the~~filings, ~~Property matured~~per Sections 134 and ~~became~~1101 ~~due~~of ~~and~~the ~~payable.~~NYSE ~~The~~MKT Company ~~defaulted~~Guide on (the ~~repayment~~ ~~and~~“Company ~~the~~Guide”); ~~lender~~● ~~instituted~~the ~~foreclosure~~financial ~~proceedings.~~condition ~~The~~of the Company ~~has~~, ~~been~~which inis ~~negotiations~~so ~~with~~impaired ~~the~~that ~~Lender~~it ~~and~~appears ~~affiliated companies; however~~questionable, onin ~~January~~the ~~15,~~opinion ~~2015,~~of the ~~Company~~NYSE ~~was~~MKT, ~~notified~~as ~~that~~to whether the ~~lender had~~Company ~~filed~~will abe ~~“Notice~~able ofto ~~Trustee~~continue ~~Sale”~~operations ~~setting~~and/or ~~February~~meet ~~13,~~its ~~2015~~obligations as ~~the Property~~they ~~sale~~mature, ~~date.~~per ~~The~~Section ~~filing~~1003(a)(iv) of the ~~Voluntary~~Company ~~Petition~~Guide; ~~effectively stays the foreclosure action~~ and ● the ~~related Property sale. The Lender~~Company’s ~~purported~~failure ~~rights~~to oftimely ~~enforcement~~disclose ~~are~~corporate ~~subject~~events toper ~~the~~Section ~~applicable provisions~~1003(d) of the ~~Bankruptcy~~Company ~~Code and the Federal Rules of Bankruptcy Procedure~~Guide.

~~The~~As ~~Property~~previously isdisclosed ~~also~~on ~~security~~November ~~for~~14, an2014 ~~additional~~and ~~mortgage~~January ~~loan~~8, in2015, the ~~amount~~Company ofhad ~~$2,477,050~~submitted ~~which~~plans isto ~~due~~the ~~and~~NYSE ~~payable~~MKT onoutlining ~~May~~steps ~~22,~~to ~~2015. The~~regain ~~filing~~compliance ofwith the ~~Voluntary~~requirements ~~Petition~~of ~~constitutes~~the anCompany ~~event~~Guide ofand ~~default~~the ~~under~~NYSE MKT ~~this~~had ~~additional~~granted ~~mortgage~~the ~~agreement~~Company ~~and~~a ~~results~~period inthrough ~~the~~February ~~automatic~~19, ~~and~~2016 for the ~~immediate~~Company ~~acceleration~~to regain compliance as outlined in its plans of compliance, so long as the ~~additional~~Company ~~secured~~made ~~mortgage~~progress ~~loan~~consistent with such plans. ~~The~~However, ~~Voluntary~~due ~~Petition~~to ~~also~~the ~~stays~~financial ~~any~~condition ~~lender~~of ~~enforcement~~the ~~action~~Company, the Company was unable to make progress consistent with ~~respect~~such plans, and accordingly, the Board has determined it to ~~this~~be ~~additional~~in ~~secured~~the ~~mortgage~~best ~~loan~~interest of the Company and its shareholders to not appeal NYSE Regulation’s delisting determination.

~~The Property was acquired on December 30~~Currently, ~~2013 pursuant to a Contribution Agreement and Joint Escrow Instructions (~~the ~~“Contribution Agreement”) by and among the~~ Company’s ~~and~~shares Asset Managers, Inc., D&A Daily Mortgage Fund III, L.P., D&A Semi-Annual Mortgage Fund III, L.P., and D&A Intermediate-Term Mortgage Fund III, L.P. (collectively, the “Dunham Funds”). Under the terms of ~~the~~common ~~Contribution~~stock ~~Agreement,~~are ~~the~~quoted ~~Company~~on ~~may not refinance~~ the ~~Property for more than $6,627,600 (40% of the Project~~Pink ~~Allocation Amount (as defined in the Contribution Agreement)). Currently~~Sheets, ~~neither~~LLC ~~Verdugo~~under ~~nor~~ the ~~Company~~symbol ~~have the funds necessary to meet the obligations due to the Lender~~“AQQS”. ~~Although the~~ Company and the Dunham Funds have been in negotiations regarding the past due mortgage and the Company’s default on its 8% Cumulative Preferred Series B Shares, negotiations have not resulted in a forbearance agreement and are currently on-going.

~~Forward-Looking~~On ~~Statements~~February 25, 2015, the Company issued a press release regarding Item 3.01, described above. A copy of the press release is filed as Exhibit 99.1 to this Form 8-K.

~~The~~Item Company’s statements contained in this Current Report on Form 8-K that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended9. ~~Actual results may differ materially from those included in the forward-looking statements~~01. ~~The Company~~Financial ~~intends~~Statements ~~those forward-looking statements to be covered by the safe-harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995,~~ and ~~the Company is including this statement for purposes of complying with those safe-harbor provisions~~Exhibits. Forward-looking statements, which are based on certain assumptions and describe future plans, strategies, intentions and expectations, are generally identifiable by use of the words "expect," "project," "may," "will," "should," "could," "would," "intend," "plan," "propose," "anticipate," "estimate," "believe," "continue," "predict," "potential," or the negative of such terms and other comparable terminology. The Company’s ability to predict results or the actual effect of future plans or strategies is inherently uncertain.

~~SIGNATURES~~(c) Exhibits.

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.

Exhibits	Description
99.1	Copy of Press Release issued by the Company on February 25, 2015.

		AMERICAN SPECTRUM REALTY, INC.
		By:	/s/ Quentin E. Thompson
			Quentin E. Thompson
			Chief Financial Officer
Date:	February 17, 2015

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
			William J. Carden
			Chairman of the Board, President
			and Chief Executive Officer

Date:	February 25, 2015

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