HOUSTON—American Spectrum Realty, Inc. says ithas reached a settlement that will allow Dunham &Associates Holdings and its affiliates to repurchasefourteen properties from American Spectrum.
The settlement stems from an action it field against filed byAmerican Spectrum in the District Court of Harris County,Texas.
The parties valued the properties at an aggregate value of$55.5 million and the Dunham entities assumed debton the properties in the approximate amount of $8.1million. In consideration for the transfer of theproperties, the Dunham returned to American Spectrum shares ofAmerican Spectrum stock valued at about$47.4 million which is equal to the netcontribution value at which the Properties were originallycontributed to American Spectrum.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
