**Exhibit 21**

| **SUBSIDIARIES OF THE COMPANY**                       | ** ** | ** ** | ** ** | **State of Organization** |
|-------------------------------------------------------|------------|------------|------------|---------------------------|
| **Corporations**                                      |       |       |
| American Spectrum Realty  Management, Inc.       |       | Delaware   |
| American Spectrum Realty  Properties, Inc.       |       | Maryland   |
| ASR Sam Houston  I, Inc.                         |       | Texas      |
| **Limited  Partnerships**                             |       |       |
| American Spectrum  Holdings-Hazelwood, L.P.           |       | Missouri   |
| American Spectrum Realty  Operating Partnership, L.P. |       | Delaware   |
| ASR Park Ten 350, L.P.                                |       | Texas      |
| ASR Park Ten 360, L.P.                                |       | Texas      |
| ASR 800 Sam Houston,  L.P.                            |       | Delaware   |
| ASR 2401 Fountainview                                 |       | Delaware   |
| ASR 5450 NW, L.P.                                     |       | Delaware   |
| ASR 5850 San Felipe,  L.P.                            |       | Delaware   |
| ASR 6677 Gessner, L.P.                                |       | Delaware   |
| ASR 11500 NW, L.P.                                    |       | Delaware   |
| ASR Sam Houston, L.P.                                 |       | Texas      |
| ASR Washington, L.P.                                  |       | Texas      |
| ASR Westheimer, L.P.                                  |       | Texas      |
| ASR-2855 Mangum,  L.P.                                |       | Delaware   |
| ASR-Gray Falls, L.P.                                  |       | Delaware   |
| ASR-Parkway  One & Two, L.P.                 |       | Delaware   |
| Lindbergh Boulevard  Partners                         |       | Missouri   |
| Market Columbia, L.P.                                 |       | California |
| Nooney Rider Trail, L.P.                              |       | Delaware   |
| Pasadena Autumn Ridge,  L.P.                          |       | Texas      |
| Sierra Pacific  Development Fund II, L.P.             |       | Delaware   |
| **Limited  Liability Companies**                      |       |       |
| American Spectrum  Holdings (Lindbergh). LLC          |       | Delaware   |
| American Spectrum  Holdings (Pasadena), LLC           |       | Delaware   |
| American Spectrum  Holdings (SPIP-V), LLC             |       | Delaware   |
| American Spectrum  Holdings (Washington), LLC         |       | Delaware   |
| American Spectrum  Holdings (Westheimer), LLC         |       | Delaware   |
| American Spectrum Realty-2855  Mangum, LLC            |       | Delaware   |
| ASR 800 Sam Houston, LLC                              |       | Delaware   |
| ASR 2401 Fountainview,  LLC                           |       | Delaware   |
| ASR 5450, LLC                                         |       | Delaware   |
| ASR 5850 San Felipe, LLC                              |       | Delaware   |
| ASR 6677 Gessner, LLC                                 |       | Delaware   |
| ASR 11500 NW, LLC                                     |       | Delaware   |
| ASR NRT, LLC                                          |       | Delaware   |
| ASR-Gray Falls, LLC                                   |       | Delaware   |
| ASR-Parkway One and Two,  LLC                         |       | Delaware   |
| Back Bay, LLC                                         |       | Delaware   |
| Countryside Exec Center,  LLC                         |       | Delaware   |
| Leawood, LLC                                          |       | Delaware   |
| Leawood KS, LLC                                       |       | Delaware   |
| Market Columbia, LLC                                  |       | Delaware   |
| McDonnell Associates,  LLC                            |       | Delaware   |
| Nooney Income Fund II,  LLC                           |       | Delaware   |

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| Nooney Income Fund, LLC                   |   | Delaware   |
|-------------------------------------------|--------|------------|
| Nooney Real Property  Investors Two, LLC  |   | Delaware   |
| Nooney Rider Trail, LLC                   |   | Delaware   |
| Northcreek, LLC                           |   | Delaware   |
| Oakgrove Commons, LLC                     |   | Delaware   |
| Pacific Spectrum, LLC                     |   | Arizona    |
| Plaza Center, LLC                         |   | Delaware   |
| Seventy Seven, LLC                        |   | Delaware   |
| Sierra Creekside, LLC                     |   | Delaware   |
| Sierra Pacific  Development Fund II, LLC  |   | Delaware   |
| Sierra Pacific  Development Fund III, LLC |   | Delaware   |
| Sierra Pacific  Development Fund, LLC     |   | Delaware   |
| Sierra Pacific Pension  Investors 84, LLC |   | Delaware   |
| Sierra Southwest Pointe  LLC              |   | Delaware   |
| Sorrento II, LLC                          |   | Delaware   |
| Third Coast, LLC                          |   | Delaware   |
| **Partnerships**                          |   |       |
| Sierra Creekside  Partners                |   | California |
| Sierra Mira Mesa  Partners                |   | California |
| Sorrento I Partners                       |   | California |
| Sorrento II Partners                      |   | California |

 

 

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