American Realty Investors, Inc., an externally advised and managed real estate investment company, engages in the acquisition, development, and ownership of income-producing residential, hotel, and commercial real estate properties. It acquires land for development in suburban markets; and sells land and income-producing properties; and rents hotel rooms to guests. The company also leases apartment units to residents; and office, industrial, and retail space to various for-profit businesses, as well as local, state, and federal agencies. As of December 31, 2011, it owned approximately 68 income producing properties comprising 17 commercial properties totaling 3.9 million rentable square feet that consists of 11 office buildings, 1 industrial warehouse, 4 retail properties, and 1 parking garage; 1 hotel comprising 161 rooms; and 50 residential apartment communities totaling 9,317 units, as well as 5,315 acres of undeveloped and partially developed land. The company was founded in 1961 and is headquartered in Dallas, Texas. On August 29, 2012, American Realty Trust, Inc. filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Northern District of Georgia.