Profile: American Assets Trust Inc (AAT)

AAT on New York Consolidated

41.54USD
4 Mar 2015
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$-0.13 (-0.31%)
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American Assets Trust, Inc., incorporated on July, 16, 2010, is a self-administered real estate investment trust (REIT). The Company owns, operates, acquires and develops retail, office, multifamily and mixed-use properties in Southern California, Northern California, Oregon, Washington, Hawaii, and Texas. The Company operates through four business segments, including retail, office, multifamily and mixed-use. As of December 31, 2013, its portfolio consisted of 11 retail shopping centers; seven office properties; a mixed-use property consisting of a 369-room all-suite hotel and a retail shopping center; and four multifamily properties. Additionally, as of December 31, 2013, the Company owned land at five of its properties that it classified as held for development and construction in progress. The Company’s core markets include San Diego; the San Francisco Bay Area; Portland, Oregon; Bellevue, Washington and Oahu, Hawaii.

Retail

The Company’s retail segment primarily includes rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The Company’s retail properties include Carmel Country Plaza, Carmel Mountain Plaza, South Bay Marketplace, Rancho Carmel Plaza, Lomas Santa Fe Plaza, Solana Beach Towne Centre, Del Monte Center, Geary Marketplace, The Shops at Kalakaua, Waikele Center and Alamo Quarry Market. The retail portfolio included eleven properties with a total of approximately 3.1 million rentable square feet available for lease as of December 31, 2013. As of December 31, 2013, these properties were 97% leased. For the year ended December 31, 2013, the retail segment contributed 36.6%, of the Company’s total revenue.

Office

The products of office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The Company’s office properties include Torrey Reserve Campus, Solana Beach Corporate Centre, The Landmark at One Market, One Beach Street, First & Main, Lloyd District Portfolio and City Center Bellevue. The office portfolio included seven properties with a total of approximately 2.6 million rentable square feet available for lease as of December 31, 2013. As of December 31, 2013, these properties were 89.8% leased. For the year ended December 31, 2013, the office segment contributed 35.5% of the Company’s total revenue.

Multifamily

The products of multifamily segment include rental of apartments and other tenant services. The Company’s multifamily properties include Loma Palisades, Imperial Beach Gardens, Mariner’s Point and Santa Fe Park RV Resort. The multifamily portfolio included three apartment properties, as well as an RV resort, with a total of 922 units available for lease as of December 31, 2013. As of December 31, 2013, these properties were 96.4% leased. For the year ended December 31, 2013, the multifamily segment contributed 6.3% of the Company’s total revenue.

Mixed-use

The products of mixed-use segment include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental and operation of a 369-room all-suite hotel. The Company’s mixed-use property includes Waikiki Beach Walk Retail and Embassy Suites Hotel. The mixed-use property consists of approximately 97,000 rentable square feet of retail space and a 369-room all-suite hotel. As of December 31, 2013, the retail portion of the property was 97.8% leased, and for the year ended December 31, 2013, the hotel had an average occupancy of 87.2%. For the year ended December 31, 2013, the mixed-use segment contributed 21.5%, of the Company’s total revenue.

Company Address

American Assets Trust Inc

11455 El Camino Real Ste 200
SAN DIEGO   CA   92130-2047
P: +1858.3502600
F: +1858.3502620

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