X0304 4 2012-01-06 0 0001121783 AMERICAN SPECTRUM REALTY INC AQQ 0001167472 GALARDI JOHN N 7700 IRVINE CENTER SUITE 550 IRVINE CA 92618 1 0 1 0 Operating Partnership Units 2012-01-06 4 S 0 191269 5.00 D Common Stock 191269 0 I By Meadow Wood Village, Ltd The shares reported as owned exceed the undersigned's pecuniary interest in the shares held by this entity. Each American Spectrum Realty Operating Partnership Unit is exchangable for one share of Common Stock, or at the option of the Issuer, cash equal to one share of Common Stock for each unit exchanged. John N. Galardi 2012-01-10