### **Exhibit 21**

 

**SUBSIDIARIESOF THE COMPANY**

 
|                                                  |   | **State of  Organization** |
|-------------------------------------------------------|--------|----------------------------|
| **Corporations**                                      |   |                       |
| American  Spectrum Realty Management, Inc.            |   | Delaware                   |
| American  Spectrum Realty Properties, Inc.            |   | Maryland                   |
| ASR  Sam Houston, Inc.                                |   | Texas                      |
|                                                  |   |                       |
| **Limited  Partnerships**                             |   |                       |
| American  Spectrum Holdings-Hazelwood, L.P.           |   | Maryland                   |
| American  Spectrum Holdings-Lindbergh, L.P.           |   | Maryland                   |
| American  Spectrum Realty Operating Partnership, L.P. |   | Delaware                   |
| ASR  Park Ten 350, L.P.                               |   | Texas                      |
| ASR  Park Ten 360, L.P.                               |   | Texas                      |
| ASR  Sam Houston, L.P.                                |   | Texas                      |
| Market  Columbia, L.P.                                |   | California                 |
| 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 (Third Coast), LLC        |   | Delaware                   |
| Back  Bay, LLC                                        |   | Delaware                   |
| BL  Pad D, LLC                                        |   | Delaware                   |
| Countryside  Exec Center, LLC                         |   | Delaware                   |
| Creekside  Riverside, LLC                             |   | Delaware                   |
| Leawood,  LLC                                         |   | Delaware                   |
| Leawood  KS, LLC                                      |   | Delaware                   |
| Market  Columbia, LLC                                 |   | Delaware                   |
| McDonnell  Associates, LLC                            |   | Delaware                   |
| Nooney  Income Fund II, LLC                           |   | Delaware                   |
| 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                    |
| Phoenix  Van Buren, LLC                               |   | Delaware                   |
| 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 Institutional Investors V, LLC        |   | Delaware                   |
| Sierra  Pacific Pension Investors 84, LLC             |   | Delaware                   |
| Sierra  Southwest Pointe LLC                          |   | Delaware                   |
| Sierra  Valencia LLC                                  |   | Delaware                   |
| Sorrento  II, LLC                                     |   | Delaware                   |
| Villa Redondo, LLC                                    |   | Delaware                   |

 

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| **SUBSIDIARIES OF THE  COMPANY (continued)** |   |       |
|----------------------------------------------|--------|------------|
| Sierra Creekside Partners                    |   | California |
| Sierra Mira Mesa Partners                    |   | California |
| Sorrento I Partners                          |   | California |
| Sorrento II Partners                         |   | California |

 

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