Exhibit 21 SUBSIDIARIES OF THE COMPANY  Corporations

          

          State of OrganizationAmerican Spectrum Management Group, Inc.

          

          DelawareLimited PartnershipsAmerican Spectrum Realty Operating Partnership, L.P.

          

          DelawareASR Park Ten 350, L.P.

          

          TexasASR Park Ten 360, L.P.

          

          TexasASR 2401 Fountainview, L.P

          

          DelawareASR 5450 NW, L.P.

          

          DelawareASR 5850 San Felipe, L.P.

          

          DelawareASR 6677 Gessner, L.P.

          

          DelawareASR 11500 NW, L.P.

          

          DelawareASR Washington, L.P.

          

          TexasASR-8 Centre, L.P.

          

          DelawareASR-1501 Mockingbird, L.P.

          

          DelawareASR-2855 Mangum, L.P.

          

          DelawareASR-6420 Richmond Atrium, L.P.

          

          DelawareASR-6430 Richmond Atrium, L.P.

          

          DelawareASR-Beltway Industrial, L.P.

          

          DelawareASR-Fountain View Place, L.P.

          

          DelawareASR-Parkway One & Two, L.P.

          

          DelawareASR-West Gray, L.P.

          

          DelawareASR-Windrose, L.P.

          

          DelawareNooney Rider Trail, L.P.

          

          DelawareSierra Pacific Development Fund II, L.P.

          

          DelawareLimited Liability CompaniesAmerican Spectrum Asset Co., LLC

          

          DelawareAmerican Spectrum Holdings (Washington), LLC

          

          DelawareAmerican Spectrum Investments, LLC

          

          DelawareAmerican Spectrum Realty Advisors, LLC

          

          DelawareAmerican Spectrum Realty Management, LLC

          

          DelawareAmerican Spectrum Realty-1501 Mockingbird, LLC

          

          DelawareAmerican Spectrum Realty-2855 Mangum, LLC

          

          DelawareAmerican Spectrum Realty-6420 Richmond Atrium, LLC

          

          DelawareAmerican Spectrum Realty-6430 Richmond Atrium, LLC

          

          DelawareAmerican Spectrum Realty 5850 San Felipe, LLC

          

          DelawareAmerican Spectrum Realty 5450 NW, LLC

          

          DelawareAmerican Spectrum Realty 11500 NW, LLC

          

          DelawareAmerican Spectrum Realty-8 Centre, LLC

          

          DelawareAmerican Spectrum Realty-1501 Mockingbird, LLC

          

          DelawareAmerican Spectrum Realty-6420 Richmond, LLC

          

          DelawareAmerican Spectrum Realty-6430 Richmond, LLC

          

          DelawareAmerican Spectrum Realty-Beltway Industrial, LLC

          

          DelawareAmerican Spectrum Realty-Fountain View Place, LLC

          

          DelawareAmerican Spectrum Realty-Parkway One & Two, LLC

          

          DelawareAmerican Spectrum Realty-Windrose, LLC

          

          DelawareASR 2401 Fountainview, LLC

          

          DelawareASR 6677 Gessner, LLC

          

          DelawareASR-Newport, L.L.C.

          

          Delaware
     TABLE OF CONTENTS Corporations

          

          State of OrganizationASR NRT, LLC

          

          DelawareASR-Risk Management, L.L.C.

          

          DelawareASR-West Gray, LLC

          

          DelawareBack Bay, LLC

          

          DelawareMcDonnell Associates, LLC

          

          DelawareNooney Income Fund II, LLC

          

          DelawareNooney Real Property Investors Two, LLC

          

          DelawarePacific Spectrum, LLC

          

          ArizonaSeventy Seven, LLC

          

          DelawareSierra Creekside, LLC

          

          DelawareSierra Pacific Development Fund II, LLC

          

          DelawareSierra Pacific Development Fund, LLC

          

          DelawareSierra Southwest Pointe LLC

          

          DelawarePartnershipsSierra Creekside Partners

          

          CaliforniaSierra Mira Mesa Partners

          

          California