American Assets Trust (AAT) 10-Q 3 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Nov. 03, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Trading Symbol	AAT
Entity Registrant Name	AMERICAN ASSETS TRUST, INC.
Entity Central Index Key	1,500,217
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		47,127,760
American Assets Trust, L.P.
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Entity Registrant Name	AMERICAN ASSETS TRUST, L.P.
Entity Central Index Key	1,509,570
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Operating real estate	$ 2,525,628	$ 2,241,061
Construction in progress	66,218	50,498
Held for development	9,391	9,447
Total Real estate, at cost	2,601,237	2,301,006
Accumulated depreciation	(519,391)	(469,460)
Net real estate	2,081,846	1,831,546
Cash and cash equivalents	94,207	44,801
Restricted cash	10,124	9,950
Accounts receivable, net	8,649	9,330
Deferred rent receivables, net	38,614	38,452
Other assets, net	42,178	52,854
TOTAL ASSETS	2,275,618	1,986,933
LIABILITIES AND EQUITY
Secured notes payable, net	279,867	445,180
Unsecured notes payable, net	1,044,934	596,350
Unsecured line of credit	0	20,000
Accounts payable and accrued expenses	48,107	32,401
Security deposits payable	6,736	6,114
Other liabilities and deferred credits, net	47,423	48,337
Total liabilities	1,427,067	1,148,382
Commitments and contingencies (Note 12)
American Assets Trust, Inc. stockholders’ equity
Common stock, $0.01 par value, 490,000,000 shares authorized, 47,130,063 and 45,732,109 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	471	457
Additional paid-in capital	917,334	874,597
Accumulated dividends in excess of net income	(91,695)	(77,296)
Accumulated other comprehensive income	10,350	11,798
Total American Assets Trust, Inc. stockholders’ equity	836,460	809,556
Noncontrolling interests	12,091	28,995
Total equity	848,551	838,551
CAPITAL:
TOTAL LIABILITIES AND EQUITY	2,275,618	1,986,933
American Assets Trust, L.P.
ASSETS
Operating real estate	2,525,628	2,241,061
Construction in progress	66,218	50,498
Held for development	9,391	9,447
Total Real estate, at cost	2,601,237	2,301,006
Accumulated depreciation	(519,391)	(469,460)
Net real estate	2,081,846	1,831,546
Cash and cash equivalents	94,207	44,801
Restricted cash	10,124	9,950
Accounts receivable, net	8,649	9,330
Deferred rent receivables, net	38,614	38,452
Other assets, net	42,178	52,854
TOTAL ASSETS	2,275,618	1,986,933
LIABILITIES AND EQUITY
Secured notes payable, net	279,867	445,180
Unsecured notes payable, net	1,044,934	596,350
Unsecured line of credit	0	20,000
Accounts payable and accrued expenses	48,107	32,401
Security deposits payable	6,736	6,114
Other liabilities and deferred credits, net	47,423	48,337
Total liabilities	1,427,067	1,148,382
Commitments and contingencies (Note 12)
American Assets Trust, Inc. stockholders’ equity
Accumulated other comprehensive income	14,257	16,478
CAPITAL:
Limited partners' capital, 17,194,980 and 17,888,822 units issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	8,184	24,315
General partner's capital, 47,130,063 and 45,732,109 units issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	826,110	797,758
Total capital	848,551	838,551
TOTAL LIABILITIES AND EQUITY	$ 2,275,618	$ 1,986,933

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Dec. 31, 2016
Common Shares
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	490,000,000	490,000,000
Common stock, shares outstanding (in shares)	47,130,063	45,732,109
Common stock, shares issued (in shares)	47,130,063	45,732,109
American Assets Trust, L.P.
Limited partners' capital, units issued (in shares)	17,194,980	17,888,822
Limited partners' capital, units outstanding (in shares)	17,194,980	17,888,822
General partners' capital, units issued (in shares)	47,130,063	45,732,109
General partners' capital, units outstanding (in shares)	47,130,063	45,732,109

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
REVENUE:
Rental income		$ 78,135	$ 71,852	$ 221,100	$ 207,318
Other property income		4,204	4,124	12,137	11,208
Total revenue		82,339	75,976	233,237	218,526
EXPENSES:
Rental expenses		21,177	20,591	60,877	58,634
Real estate taxes		8,535	7,396	23,975	20,446
General and administrative		4,958	4,513	15,171	13,456
Depreciation and amortization		21,192	17,992	63,360	53,159
Total operating expenses		55,862	50,492	163,383	145,695
OPERATING INCOME		26,477	25,484	69,854	72,831
Interest expense		(13,873)	(13,049)	(39,856)	(39,148)
Other (expense) income, net		(99)	(577)	403	(454)
NET INCOME		12,505	11,858	30,401	33,229
Net income attributable to restricted shares		(60)	(42)	(181)	(128)
Net income attributable to unitholders in the Operating Partnership		(3,351)	(3,342)	(8,220)	(9,377)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS		$ 9,094	$ 8,474	$ 22,000	$ 23,724
EARNINGS PER COMMON SHARE
Earnings per common share, basic (in USD per share)		$ 0.19	$ 0.19	$ 0.47	$ 0.52
Weighted average shares of common stock outstanding-basic (in shares)		46,898,086	45,377,719	46,650,403	45,282,643
EARNINGS PER COMMON SHARE, DILUTED
Earnings per common share, diluted (in USD per share)		$ 0.19	$ 0.19	$ 0.47	$ 0.52
Weighted average shares of common stock outstanding-diluted (in shares)		64,093,066	63,272,702	64,081,697	63,180,637
Dividends declared per common share (in USD per share)		$ 0.26	$ 0.25	$ 0.78	$ 0.75
COMPREHENSIVE INCOME
Other comprehensive (loss) - unrealized (loss) on swap derivative during the period		$ 87	$ 2,432	$ (1,427)	$ (11,443)
Reclassification of amortization of forward-starting swap included in interest expense		(319)	(58)	(794)	(173)
Comprehensive income		12,273	14,232	28,180	21,613
Comprehensive income attributable to non-controlling interest		(3,263)	(4,018)	(7,447)	(6,086)
Comprehensive income attributable to American Assets Trust, Inc.		9,010	10,214	20,733	15,527
American Assets Trust, L.P.
REVENUE:
Rental income		78,135	71,852	221,100	207,318
Other property income		4,204	4,124	12,137	11,208
Total revenue		82,339	75,976	233,237	218,526
EXPENSES:
Rental expenses		21,177	20,591	60,877	58,634
Real estate taxes		8,535	7,396	23,975	20,446
General and administrative		4,958	4,513	15,171	13,456
Depreciation and amortization		21,192	17,992	63,360	53,159
Total operating expenses		55,862	50,492	163,383	145,695
OPERATING INCOME		26,477	25,484	69,854	72,831
Interest expense		(13,873)	(13,049)	(39,856)	(39,148)
Other (expense) income, net		(99)	(577)	403	(454)
NET INCOME		12,505	11,858	30,401	33,229
Net income attributable to restricted shares		(60)	(42)	(181)	(128)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS		$ 12,445	$ 11,816	$ 30,220	$ 33,101
EARNINGS PER COMMON SHARE
Earnings per common share, basic (in USD per share)		$ 0.19	$ 0.19	$ 0.47	$ 0.52
Weighted average shares of common stock outstanding-basic (in shares)		64,093,066	63,272,702	64,081,697	63,180,637
EARNINGS PER COMMON SHARE, DILUTED
Earnings per common share, diluted (in USD per share)		$ 0.19	$ 0.19	$ 0.47	$ 0.52
Weighted average shares of common stock outstanding-diluted (in shares)		64,093,066	63,272,702	64,081,697	63,180,637
Distributions per unit (in USD per share)		$ 0.26	$ 0.25	$ 0.78	$ 0.75
COMPREHENSIVE INCOME
Other comprehensive (loss) - unrealized (loss) on swap derivative during the period		$ 87	$ 2,432	$ (1,427)	$ (11,443)
Reclassification of amortization of forward-starting swap included in interest expense		(319)	(58)	(794)	(173)
Comprehensive income		12,273	14,232	28,180	21,613
Limited Partner | American Assets Trust, L.P.
EXPENSES:
NET INCOME	[1]			8,220
COMPREHENSIVE INCOME
Comprehensive income attributable to American Assets Trust, Inc.		(3,263)	(4,018)	(7,447)	(6,086)
General Partner | American Assets Trust, L.P.
EXPENSES:
NET INCOME	[2]			22,181
COMPREHENSIVE INCOME
Comprehensive income attributable to American Assets Trust, Inc.		$ 9,010	$ 10,214	$ 20,733	$ 15,527
[1]	Consists of limited partnership interests held by third parties.
[2]	Consists of general partnership interests held by American Assets Trust, Inc.

Consolidated Statement of Equit

Consolidated Statement of Equity (Unaudited) - 9 months ended Sep. 30, 2017 - USD ($) $ in Thousands		Total	American Assets Trust, L.P.	American Assets Trust, L.P.Accumulated Other Comprehensive Income (Loss)	American Assets Trust, L.P.Limited Partner	[1]	American Assets Trust, L.P.General Partner		Common Shares	Additional Paid-in Capital	Accumulated Dividends in Excess of Net Income	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests - Unitholders in the Operating Partnership	Swap	SwapAmerican Assets Trust, L.P.	SwapAmerican Assets Trust, L.P.Accumulated Other Comprehensive Income (Loss)	SwapAccumulated Other Comprehensive Income (Loss)	SwapNoncontrolling Interests - Unitholders in the Operating Partnership	Forward Contracts	Forward ContractsAmerican Assets Trust, L.P.	Forward ContractsAmerican Assets Trust, L.P.Accumulated Other Comprehensive Income (Loss)	Forward ContractsAccumulated Other Comprehensive Income (Loss)	Forward ContractsNoncontrolling Interests - Unitholders in the Operating Partnership
Beginning Balance (in shares) at Dec. 31, 2016									45,732,109
Beginning Balance at Dec. 31, 2016		$ 838,551							$ 457	$ 874,597	$ (77,296)	$ 11,798	$ 28,995
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		30,401	$ 30,401		$ 8,220		$ 22,181	[2]			22,181		8,220
Common shares issued (in shares)									700,000
Common shares issued		30,075							$ 7	30,068
Issuance of restricted stock (in shares)									4,880
Issuance of restricted stock		0							$ 0	0
Forfeiture of restricted stock (in shares)									(768)
Forfeiture of restricted stock		0							$ 0	0
Conversion of operating partnership units (in shares)									693,842
Conversion of operating partnership units		0							$ 7	10,752			(10,759)
Dividends declared and paid		(50,172)									(36,580)
Dividends declared and paid (noncontrolling interest)													(13,592)
Stock-based compensation		1,917								1,917
Other comprehensive loss - change in value of interest rate swaps		(1,427)	(1,427)											$ (12,094)	$ (12,094)	$ (12,094)	$ (8,635)	$ (3,459)	$ 10,667	$ 10,667	$ 10,667	$ 7,765	$ 2,902
Reclassification of amortization of forward-starting swap included in interest expense		(794)	(794)	$ (794)								(578)	(216)
Ending Balance (in shares) at Sep. 30, 2017									47,130,063
Ending Balance at Sep. 30, 2017		848,551							$ 471	$ 917,334	(91,695)	10,350	12,091
Beginning partners' capital account (in shares) at Dec. 31, 2016					17,888,822		45,732,109	[2]
Beginning partners' capital account at Dec. 31, 2016			838,551	16,478	$ 24,315		$ 797,758	[2]
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income		30,401	30,401		$ 8,220		$ 22,181	[2]			$ 22,181		8,220
Contributions from American Assets Trust, Inc. (in shares)	[2]						700,000
Contributions from American Assets Trust, Inc.			30,075				$ 30,075	[2]
Conversion of operating partnership units (in shares)					(693,842)		(693,842)	[2]
Conversion of operating partnership units					$ (10,759)		$ 10,759	[2]
Issuance of restricted units (in shares)	[2]						4,880
Forfeiture of restricted units (in shares)	[2]						(768)
Distributions			(50,172)		$ (13,592)		$ (36,580)	[2]
Stock-based compensation			1,917				$ 1,917	[2]
Other comprehensive (loss) - unrealized (loss) on swap derivative during the period		(1,427)	(1,427)											$ (12,094)	$ (12,094)	$ (12,094)	$ (8,635)	$ (3,459)	$ 10,667	$ 10,667	$ 10,667	$ 7,765	$ 2,902
Reclassification of amortization of forward-starting swap included in interest expense		$ (794)	(794)	(794)								$ (578)	$ (216)
Ending partners' capital account (in shares) at Sep. 30, 2017					17,194,980		47,130,063	[2]
Ending partners' capital account at Sep. 30, 2017			$ 848,551	$ 14,257	$ 8,184		$ 826,110	[2]
[1]	Consists of limited partnership interests held by third parties.
[2]	Consists of general partnership interests held by American Assets Trust, Inc.

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
OPERATING ACTIVITIES
Net income	$ 30,401	$ 33,229
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred rent revenue and amortization of lease intangibles	(2,233)	(2,297)
Depreciation and amortization	63,360	53,159
Amortization of debt issuance costs and debt fair value adjustments	2,625	3,354
Stock-based compensation expense	1,917	1,855
Settlement of derivative instruments	10,667	0
Other noncash interest expense	(794)	(173)
Other, net	1,665	1,168
Changes in operating assets and liabilities
Change in restricted cash	115	1,177
Change in accounts receivable	211	(1,564)
Change in other assets	(548)	(23)
Change in accounts payable and accrued expenses	17,299	10,983
Change in security deposits payable	622	142
Change in other liabilities and deferred credits	462	1,717
Net cash provided by operating activities	125,769	102,727
INVESTING ACTIVITIES
Acquisition of real estate	(278,141)	0
Capital expenditures	(34,757)	(45,583)
Change in restricted cash	(1,688)	200
Leasing commissions	(3,742)	(1,808)
Deposit on property acquisition	0	0
Net cash used in investing activities	(318,328)	(47,191)
FINANCING ACTIVITIES
Change in restricted cash	1,400	0
Repayment of secured notes payable	(166,781)	(113,512)
Proceeds from unsecured term loan	0	150,000
Proceeds from unsecured line of credit	173,000	10,000
Repayment of unsecured line of credit	(193,000)	(40,000)
Proceeds from unsecured notes payable	450,000	0
Debt issuance costs	(2,557)	(2,107)
Proceeds from issuance of common stock, net	30,075	9,665
Dividends paid to common stock and unitholders	(50,172)	(47,536)
Shares withheld for employee taxes	0	(12)
Net cash provided by (used in) financing activities	241,965	(33,502)
Net increase in cash and cash equivalents	49,406	22,034
Cash and cash equivalents, beginning of period	44,801	39,925
Cash and cash equivalents, end of period	94,207	61,959
American Assets Trust, L.P.
OPERATING ACTIVITIES
Net income	30,401	33,229
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred rent revenue and amortization of lease intangibles	(2,233)	(2,297)
Depreciation and amortization	63,360	53,159
Amortization of debt issuance costs and debt fair value adjustments	2,625	3,354
Stock-based compensation expense	1,917	1,855
Settlement of derivative instruments	10,667	0
Other noncash interest expense	(794)	(173)
Other, net	1,665	1,168
Changes in operating assets and liabilities
Change in restricted cash	115	1,177
Change in accounts receivable	211	(1,564)
Change in other assets	(548)	(23)
Change in accounts payable and accrued expenses	17,299	10,983
Change in security deposits payable	622	142
Change in other liabilities and deferred credits	462	1,717
Net cash provided by operating activities	125,769	102,727
INVESTING ACTIVITIES
Acquisition of real estate	(278,141)	0
Capital expenditures	(34,757)	(45,583)
Change in restricted cash	(1,688)	200
Leasing commissions	(3,742)	(1,808)
Deposit on property acquisition	0	0
Net cash used in investing activities	(318,328)	(47,191)
FINANCING ACTIVITIES
Change in restricted cash	1,400	0
Repayment of secured notes payable	(166,781)	(113,512)
Proceeds from unsecured term loan	0	150,000
Proceeds from unsecured line of credit	173,000	10,000
Repayment of unsecured line of credit	(193,000)	(40,000)
Proceeds from unsecured notes payable	450,000	0
Debt issuance costs	(2,557)	(2,107)
Contributions from American Assets Trust, Inc.	30,075	9,665
Dividends paid to common stock and unitholders	(50,172)	(47,536)
Shares withheld for employee taxes	0	(12)
Net cash provided by (used in) financing activities	241,965	(33,502)
Net increase in cash and cash equivalents	49,406	22,034
Cash and cash equivalents, beginning of period	44,801	39,925
Cash and cash equivalents, end of period	$ 94,207	$ 61,959

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business and Organization American Assets Trust, Inc. (which may be referred to in these financial statements as the “Company,” “we,” “us,” or “our”) is a Maryland corporation formed on July 16, 2010 that did not have any operating activity until the consummation of our initial public offering on January 19, 2011. The Company is the sole general partner of American Assets Trust, L.P., a Maryland limited partnership formed on July 16, 2010 (the “Operating Partnership”). The Company’s operations are carried on through our Operating Partnership and its subsidiaries, including our taxable real estate investment trust ("REIT") subsidiary ("TRS"). Since the formation of our Operating Partnership, the Company has controlled our Operating Partnership as its general partner and has consolidated its assets, liabilities and results of operations. We are a full service vertically integrated and self-administered REIT with approximately 178 employees providing substantial in-house expertise in asset management, property management, property development, leasing, tenant improvement construction, acquisitions, repositioning, redevelopment and financing. As of September 30, 2017 , we owned or had a controlling interest in 26 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as of September 30, 2017 , we owned land at four of our properties that we classify as held for development and/or construction in progress. A summary of the properties owned by us is as follows: Retail Carmel Country Plaza Gateway Marketplace Alamo Quarry Market Carmel Mountain Plaza Del Monte Center Hassalo on Eighth - Retail South Bay Marketplace Geary Marketplace Lomas Santa Fe Plaza The Shops at Kalakaua Solana Beach Towne Centre Waikele Center Office Torrey Reserve Campus Lloyd District Portfolio Solana Beach Corporate Centre City Center Bellevue The Landmark at One Market One Beach Street First & Main Multifamily Loma Palisades Imperial Beach Gardens Mariner's Point Santa Fe Park RV Resort Pacific Ridge Apartments Hassalo on Eighth - Residential Mixed-Use Waikiki Beach Walk Retail and Embassy Suites™ Hotel Held for Development and/or Construction in Progress Solana Beach Corporate Centre – Land Solana Beach – Highway 101 – Land Torrey Point – Construction in Progress Lloyd District Portfolio – Construction in Progress Basis of Presentation Our consolidated financial statements include the accounts of the Company, our Operating Partnership and our subsidiaries. The equity interests of other investors in our Operating Partnership are reflected as noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. The accompanying consolidated financial statements of the Company and the Operating Partnership have been prepared in accordance with the rules applicable to Form 10-Q and include all information and footnotes required for interim financial statement presentation, but do not include all disclosures required under accounting principles generally accepted in the United States (“GAAP”) for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments, except as otherwise noted) considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the audited consolidated financial statements and notes therein included in the Company's and Operating Partnership's annual report on Form 10-K for the year ended December 31, 2016 . The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using our best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates. Any reference to the number of properties, number of units, square footage, employee numbers or percentages of beneficial ownership of our shares are unaudited and outside the scope of our independent registered public accounting firm’s review of our financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. Consolidated Statements of Cash Flows—Supplemental Disclosures The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands): Nine Months Ended September 30, 2017 2016 Supplemental cash flow information Total interest costs incurred $ 41,009 $ 40,368 Interest capitalized $ 1,153 $ 1,220 Interest expense $ 39,856 $ 39,148 Cash paid for interest, net of amounts capitalized $ 33,720 $ 36,070 Cash paid for income taxes $ 296 $ 459 Supplemental schedule of noncash investing and financing activities Accounts payable and accrued liabilities for construction in progress $ (3,019 ) $ (471 ) Accrued leasing commissions $ 1,410 $ 275 Reduction to capital for prepaid offering costs $ 129 $ — Significant Accounting Policies We describe our significant accounting policies in Note 1 to the consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2016 . Except for the adoption of the accounting standards during the first quarter of 2017 as discussed below, there have been no changes to our significant accounting policies during the nine months ended September 30, 2017 . Segment Information Segment information is prepared on the same basis that our chief operating decision maker reviews information for operational decision-making purposes. We operate in four business segments: the acquisition, redevelopment, ownership and management of retail real estate, office real estate, multifamily real estate and mixed-use real estate. The products for our retail segment primarily include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our multifamily segment include rental of apartments and other tenant services. The products of our 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. Recent Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-1, Business Combinations: Clarifying the Definition of a Business . The pronouncement changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The pronouncement requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted the provisions of ASU 2017-01 effective January 1, 2017. For the period from January 1, 2017 through September 30, 2017 , the Company acquired three properties for which we concluded that substantially all of the fair value of the assets acquired were concentrated in a single identifiable asset and that the assets therefore did not meet the definition of a business under ASU 2017-01. Acquisition transaction costs associated with these property acquisitions were approximately $0.2 million and were capitalized to real estate investments. In November 2016, the FASB issued ASU 2016-18, Restricted Cash. This pronouncement will require companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The pronouncement will require a disclosure of a reconciliation between the statement of financial position and the statement of cash flows when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. Entities with material restricted cash and restricted cash equivalents balances will be required to disclose the nature of the restrictions. The ASU is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively to all periods presented. As of September 30, 2017 and December 31, 2016 , we had $10.1 million and $10.0 million of restricted cash, respectively, on our consolidated balance sheets. Upon adoption of this ASU, restricted cash balances will be included along with cash and cash equivalents as of the end of period and beginning of period, respectively, on our consolidated statement of cash flows for all periods presented; separate line items showing changes in restricted cash balances will be eliminated from our consolidated statement of cash flows. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends ASC 718, Compensation – Stock Compensation. This pronouncement simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted ASU 2016-09 in the first quarter of 2017 and the adoption did not have a material impact on our consolidated financial statements. In February 2016, the FASB issued an ASU that establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. The accounting applied by lessors under this ASU is largely unchanged. Leases will be either classified as sales-type, finance or operating, with classification affecting the pattern of expense recognition in the income statement. The ASU also requires significant additional disclosures about the amount, timing and uncertainty of cash flows from leases. The ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018. A modified retrospective transition approach is required for lessors for sales-type, direct financing, and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. We are in the process of evaluating the impact this pronouncement will have on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The pronouncement was issued to clarify the principles for recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and International Financial Reporting Standards. The pronouncement is effective for fiscal years beginning after December 15, 2017. The Company will adopt ASU 2014-09 in the first quarter of 2018 using the modified retrospective approach. We have begun our process for implementing this standard, including performing a preliminary review of all revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition. As of September 30, 2017, we have completed our assessment of the impact of this pronouncement for revenue generated from our Multifamily segment. The majority of revenue from our Multifamily segment is generated from leases that are specifically excluded from ASC 606. Additionally, we do not believe that ASC 606 will impact the amount or timing of revenue recognition for other revenue types generated from the Multifamily segment. We are continuing to evaluate this standard for revenue streams for our other segments and the allowable methods of adoption; however, the majority of our revenue from these other segments also consists of rental income from leasing arrangements, which are excluded from this standard. As the Company progresses further in its analysis, the scope of this assessment could be expanded to include other contract elements that could have an accounting impact under the new standard. The Company is also continuing to assess the potential effect that this new standard is expected to have on our consolidated financial statements as it relates to our leasing arrangements with our tenants and in concert with our assessment and anticipated adoption of the new leasing guidance under ASU 2016-02, Leases (see above). The ultimate impacts are currently unknown or not reasonably estimable at this time. The Company continues to evaluate other areas of the standard and is currently assessing the impact on its consolidated financial statements and notes to its consolidated financial statements and cannot reasonably estimate quantitative information related to the impact of the new standard on its consolidated financial statements at this time.

REAL ESTATE

REAL ESTATE	9 Months Ended
	Sep. 30, 2017
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE Property Asset Acquisitions On April 28, 2017, we acquired the Pacific Ridge Apartments, a 533 unit luxury apartment community located in San Diego, California. The purchase price was approximately $232 million , excluding closing costs of approximately $0.1 million . On July 6, 2017, we acquired Gateway Marketplace, an approximately 128,000 square feet dual-grocery anchored shopping center located in Chula Vista, California. The purchase price was approximately $42 million , excluding closing costs of approximately $0.1 million . The properties were acquired with cash on hand and borrowings under our Amended and Restated Credit Agreement (as defined herein). The financial information set forth below summarizes the Company’s purchase price allocations for the Pacific Ridge Apartments and Gateway Marketplace during the nine months ended September 30, 2017 (in thousands): Pacific Ridge Apartments Gateway Marketplace Land $ 47,972 $ 17,363 Building 171,813 19,192 Land improvements 3,403 1,522 Furniture, fixtures, and equipment 3,281 930 Total real estate 226,469 39,007 Lease intangibles 5,592 2,920 Prepaid expenses and other assets 424 — Assets acquired $ 232,485 $ 41,927 Accounts payable and accrued expenses $ 74 $ 203 Security deposits payable 673 22 Other liabilities and deferred credits 49 1,034 Liabilities assumed $ 796 $ 1,259 The following table summarizes the operating results for the Pacific Ridge Apartments and Gateway Marketplace included in the Company’s historical consolidated statement of operations for the period of acquisition through September 30, 2017 (in thousands): Pacific Ridge Apartments Gateway Marketplace Total Revenues $ 6,884 $ 806 $ 7,690 Operating expenses $ 11,813 $ 499 $ 12,312 Operating (loss) income $ (4,929 ) $ 307 $ (4,622 ) Net (loss) income attributable to American Assets Trust, Inc. $ (4,929 ) $ 307 $ (4,622 )

ACQUIRED IN-PLACE LEASES AND AB

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES	ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES The following summarizes our acquired lease intangibles and leasing costs, which are included in other assets and other liabilities and deferred credits, as of September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 In-place leases $ 54,206 $ 48,741 Accumulated amortization (45,154 ) (38,906 ) Above market leases 21,262 21,667 Accumulated amortization (19,854 ) (19,579 ) Acquired lease intangible assets, net $ 10,460 $ 11,923 Below market leases $ 67,423 $ 66,521 Accumulated accretion (36,252 ) (33,073 ) Acquired lease intangible liabilities, net $ 31,171 $ 33,448

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability. The hierarchy for inputs used in measuring fair value is as follows: 1. Level 1 Inputs—quoted prices in active markets for identical assets or liabilities 2. Level 2 Inputs—observable inputs other than quoted prices in active markets for identical assets and liabilities 3. Level 3 Inputs—unobservable inputs Except as disclosed below, the carrying amounts of our financial instruments approximate their fair value. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. We measure the fair value of our deferred compensation liability, which is included in other liabilities and deferred credits on the consolidated balance sheet, on a recurring basis using Level 2 inputs. We measure the fair value of this liability based on prices provided by independent market participants that are based on observable inputs using market-based valuation techniques. The fair value of the interest rate swap agreements are based on the estimated amounts we would receive or pay to terminate the contract at the reporting date and are determined using interest rate pricing models and interest rate related observable inputs. The effective portion of changes in the fair value of the derivatives that are designated as cash flow hedges are being recorded in accumulated other comprehensive income (loss) and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. We incorporate credit valuation adjustments to appropriately reflect both our own non-performance risk and the respective counterparty’s non-performance risk in the fair value measurements. In adjusting the fair value of our derivative contract for the effect of non-performance risk, we considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts, and guarantees. Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. However, as of September 30, 2017 we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative position and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivative. As a result, we have determined that our derivative valuation in its entirety is classified in Level 2 of the fair value hierarchy. A summary of our financial liabilities that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows (in thousands): September 30, 2017 December 31, 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Deferred compensation liability $ — $ 1,158 $ — $ 1,158 $ — $ 1,006 $ — $ 1,006 Interest rate swap asset $ — $ 3,624 $ — $ 3,624 $ — $ 16,428 $ — $ 16,428 Interest rate swap liability $ — $ 358 $ — $ 358 $ — $ 1,067 $ — $ 1,067 The fair value of our secured notes payable and unsecured senior guaranteed notes are sensitive to fluctuations in interest rates. Discounted cash flow analysis using observable market interest rates (Level 2) is generally used to estimate the fair value of our secured notes payable, using rates ranging from 3.8% to 4.5% . Considerable judgment is necessary to estimate the fair value of financial instruments. The estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. The carrying values of our revolving line of credit and term loan set forth below are deemed to be at fair value since the outstanding debt is directly tied to monthly LIBOR contracts. A summary of the carrying amount and fair value of our secured financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands): September 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Secured notes payable, net $ 279,867 $ 287,361 $ 445,180 $ 457,621 Unsecured term loans, net $ 248,555 $ 250,000 $ 247,883 $ 250,000 Unsecured senior guaranteed notes, net $ 796,379 $ 808,384 $ 348,467 $ 351,357 Unsecured line of credit $ — $ — $ 20,000 $ 20,000

DERIVATIVE AND HEDGING ACTIVITI

DERIVATIVE AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE AND HEDGING ACTIVITIES	DERIVATIVE AND HEDGING ACTIVITIES Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish these objectives, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. On March 29, 2016, we entered into a forward-starting interest rate swap contract (the "March 2016 Swap") with Wells Fargo Bank, National Association, to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective new ten -year private placement. The forward-starting ten-year swap contract had a notional amount of $150 million , a termination date of March 31, 2027 , a fixed pay rate of 1.8800% , and a receive rate equal to the three-month LIBOR, with fixed rate payments due semi-annually commencing September 29, 2017, floating payments due semi-annually commencing September 29, 2017, and floating reset dates the first day of each quarterly period. The forward-starting ten-year swap contract accrual period, March 31, 2017 to March 31, 2027, was designed to match the expected tenor of the then prospective new ten -year debt private placement. On April 7, 2016, we entered into a forward-starting interest rate swap contract (the "April 2016 Swap") with Wells Fargo Bank, National Association, to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective new ten -year private placement. The forward-starting ten-year swap contract had a notional amount of $100 million , a termination date of March 31, 2027 , a fixed pay rate of 1.7480% , and a receive rate equal to the three-month LIBOR, with fixed rate payments due semi-annually commencing September 29, 2017, floating payments due semi-annually commencing September 29, 2017, and floating reset dates the first day of each quarterly period. The forward-starting ten-year swap contract accrual period, March 31, 2017 to March 31, 2027, was designed to match the expected tenor of our then prospective new ten -year debt private placement. On January 18, 2017, we settled the March 2016 Swap and April 2016 Swap, resulting in a gain of approximately $10.4 million . This gain is included in accumulated other comprehensive income and will be amortized to interest expense over the life of the Series D Notes (as defined below). The forward-starting interest rate swap contracts have been deemed to be highly effective cash flow hedges and we elected to designate all the forward-starting swap contracts as accounting hedges. On April 25, 2017, we entered into a treasury lock contract (the "April 2017 Treasury Lock") with Bank of America, National Association, to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective new twelve -year private placement. The treasury lock contract had a notional amount of $100 million , termination date of May 18, 2017 , a fixed pay rate of 2.313% , and a receive rate equal to the ten -year treasury rate on the settlement date. On May 11, 2017, we settled the April 2017 Treasury Lock, resulting in a gain of approximately $0.7 million . This gain is included in accumulated other comprehensive income and will be amortized to interest expense over ten years. The treasury lock contract has been deemed to be a highly effective cash flow hedge and we elected to designate the treasury lock contract as an accounting hedge. On May 31, 2017, we entered into a treasury lock contract (the "May 2017 Treasury Lock") with Bank of America, National Association, to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective new seven -year private placement. The treasury lock contract had a notional amount of $100 million , termination date of July 26, 2017 , a fixed pay rate of 2.064% , and a receive rate equal to the seven -year treasury rate on the settlement date. On June 23, 2017, we settled the May 2017 Treasury Lock, resulting in a loss of approximately $0.5 million . This loss is included in accumulated other comprehensive income and will be amortized to interest expense over seven years. The treasury lock contract has been deemed to be a highly effective cash flow hedge and we elected to designate the treasury lock contract as an accounting hedge. The following is a summary of the terms of our outstanding interest rate swaps as of September 30, 2017 (dollars in thousands): Swap Counterparty Notional Amount Effective Date Maturity Date Fair Value Bank of America, N.A. $ 100,000 1/9/2014 1/9/2019 $ (358 ) U.S. Bank N.A. $ 100,000 3/1/2016 3/1/2023 $ 2,396 Wells Fargo Bank, N.A. $ 50,000 5/2/2016 3/1/2023 $ 1,228 The effective portion of changes in the fair value of the derivatives that are designated as cash flow hedges are being recorded in accumulated other comprehensive income and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings for as long hedged cash flows remain probable. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves, and implied volatilities. The fair value of the interest rate swap is determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves.

OTHER ASSETS

OTHER ASSETS	9 Months Ended
	Sep. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following (in thousands): September 30, 2017 December 31, 2016 Leasing commissions, net of accumulated amortization of $27,376 and $25,194, respectively $ 21,194 $ 18,131 Interest rate swap asset 3,624 16,428 Acquired above market leases, net 1,408 2,088 Acquired in-place leases, net 9,052 9,835 Lease incentives, net of accumulated amortization of $100 and $41, respectively 885 313 Other intangible assets, net of accumulated amortization of $1,102 and $1,128, respectively 240 206 Prepaid expenses and other 5,775 5,853 Total other assets $ 42,178 $ 52,854

OTHER LIABILITIES AND DEFERRED

OTHER LIABILITIES AND DEFERRED CREDITS	9 Months Ended
	Sep. 30, 2017
Other Liabilities Disclosure [Abstract]
OTHER LIABILITIES AND DEFERRED CREDITS	OTHER LIABILITIES AND DEFERRED CREDITS Other liabilities and deferred credits consist of the following (in thousands): September 30, 2017 December 31, 2016 Acquired below market leases, net $ 31,171 $ 33,448 Prepaid rent and deferred revenue 9,450 7,720 Interest rate swap liability 358 1,067 Deferred rent expense and lease intangible 1,716 1,756 Deferred compensation 1,158 1,006 Deferred tax liability 201 265 Straight-line rent liability 3,309 3,028 Other liabilities 60 47 Total other liabilities and deferred credits, net $ 47,423 $ 48,337 Straight-line rent liability relates to leases which have rental payments that decrease over time or one-time upfront payments for which the rental revenue is deferred and recognized on a straight-line basis.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
DEBT	DEBT Debt of American Assets Trust, Inc. American Assets Trust, Inc. does not hold any indebtedness. All debt is held directly or indirectly by the Operating Partnership; however, American Assets Trust, Inc. and certain of its subsidiaries have guaranteed the Operating Partnership's obligations under the (i) amended and restated credit facility, (ii) term loan and (iii) senior guaranteed notes. Additionally, American Assets Trust, Inc. has provided carve-out guarantees on certain property-level debt. Debt of American Assets Trust, L.P. Secured notes payable The following is a summary of our total secured notes payable outstanding as of September 30, 2017 and December 31, 2016 (in thousands): Principal Balance as of Stated Interest Rate Stated Maturity Date Description of Debt September 30, 2017 December 31, 2016 as of September 30, 2017 Waikiki Beach Walk—Retail (1)(2) $ — $ 130,310 5.39 % July 1, 2017 Solana Beach Corporate Centre III-IV (3)(4) — 35,440 6.39 % August 1, 2017 Loma Palisades (1) 73,744 73,744 6.09 % July 1, 2018 One Beach Street (1) 21,900 21,900 3.94 % April 1, 2019 Torrey Reserve—North Court (3) 20,120 20,399 7.22 % June 1, 2019 Torrey Reserve—VCI, VCII, VCIII (3) 6,795 6,884 6.36 % June 1, 2020 Solana Beach Corporate Centre I-II (3) 10,774 10,927 5.91 % June 1, 2020 Solana Beach Towne Centre (3) 35,914 36,424 5.91 % June 1, 2020 City Center Bellevue (1) 111,000 111,000 3.98 % November 1, 2022 280,247 447,028 Unamortized fair value adjustment — (1,347 ) Debt issuance costs, net of accumulated amortization of $1,150 and $1,029, respectively (380 ) (501 ) Total Secured Notes Payable Outstanding $ 279,867 $ 445,180 (1) Interest only. (2) Loan repaid in full, without premium or penalty, on March 1, 2017. (3) Principal payments based on a 30 -year amortization schedule. (4) Loan repaid in full, without premium or penalty, on April 3, 2017. Certain loans require us to comply with various financial covenants. As of September 30, 2017 , the Operating Partnership was in compliance with these financial covenants. Unsecured notes payable The following is a summary of the Operating Partnership's total unsecured notes payable outstanding as of September 30, 2017 and December 31, 2016 (in thousands): Description of Debt Principal Balance as of Stated Interest Rate Stated Maturity Date September 30, 2017 December 31, 2016 as of September 30, 2017 Term Loan A $ 100,000 $ 100,000 Variable (1) January 9, 2019 (2) Senior Guaranteed Notes, Series A 150,000 150,000 4.04 % (3) October 31, 2021 Term Loan B 100,000 100,000 Variable (4) March 1, 2023 Term Loan C 50,000 50,000 Variable (5) March 1, 2023 Senior Guaranteed Notes, Series F 100,000 — 3.78 % (6) July 19, 2024 Senior Guaranteed Notes, Series B 100,000 100,000 4.45 % February 2, 2025 Senior Guaranteed Notes, Series C 100,000 100,000 4.50 % April 1, 2025 Senior Guaranteed Notes, Series D 250,000 — 4.29 % (7) March 1, 2027 Senior Guaranteed Notes, Series E 100,000 — 4.24 % (8) May 23, 2029 1,050,000 600,000 Debt issuance costs, net of accumulated amortization of $5,473 and $4,317, respectively (5,066 ) (3,650 ) Total Unsecured Notes Payable $ 1,044,934 $ 596,350 (1) The Operating Partnership has entered into an interest rate swap agreement that is intended to fix the interest rate associated with Term Loan A at approximately 3.08% through its maturity date and extension options, subject to adjustments based on our consolidated leverage ratio. (2) The Operating Partnership has an option to extend the term loan up to one time, with such extension for a 12-month period. The foregoing extension option is exercisable by us subject to the satisfaction of certain conditions. (3) The Operating Partnership entered into a one-month forward-starting seven -year swap contract on August 19, 2014, which was settled on September 19, 2014 at a gain of approximately $1.6 million . The forward-starting seven-year swap contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.88% per annum. (4) The Operating Partnership has entered into an interest rate swap agreement that is intended to fix the interest rate associated with Term Loan B at approximately 3.15% through its maturity date, subject to adjustments based on our consolidated leverage ratio. (5) The Operating Partnership has entered into an interest rate swap agreement that is intended to fix the interest rate associated with Term Loan C at approximately 3.14% through its maturity date, subject to adjustments based on our consolidated leverage ratio. (6) The Operating Partnership entered into a treasury lock contract on May 31, 2017, which was settled on June 23, 2017 at a loss of approximately $0.5 million . The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.85% per annum. (7) The Operating Partnership entered into forward-starting interest rate swap contracts on March 29, 2016 and April 7, 2016, which were settled on January 18, 2017 at a gain of approximately $10.4 million . The forward-starting interest swap rate contracts were deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.87% per annum. (8) The Operating Partnership entered into a treasury lock contract on April 25, 2017, which was settled on May 11, 2017 at a gain of approximately $0.7 million . The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 4.18% per annum. On March 1, 2017, the Operating Partnership entered into a Note Purchase Agreement for the private placement of $250 million of 4.29% Senior Guaranteed Notes, Series D, due March 1, 2027 (the "Series D Notes"). The Series D Notes were issued on March 1, 2017 and will pay interest quarterly on the last day of January, April, July and October until their respective maturities. On May 23, 2017, the Operating Partnership entered into a Note Purchase Agreement for the private placement of $100 million of 4.24% Senior Guaranteed Notes, Series E, due May 23, 2029 (the "Series E Notes"). The Series E Notes were issued on May 23, 2017 and will pay interest semi-annually on the 23rd of May and November until their respective maturities. On July 19, 2017, the Operating Partnership entered into a Note Purchase Agreement for the private placement of $100 million of 3.78% Senior Guaranteed Notes, Series F, due July 19, 2024 (the "Series F Notes"). The Series F Notes were issued on July 19, 2017 and will pay interest semi-annually on the 31st of January and July until their respective maturities. The Operating Partnership may prepay at any time all, or from time to time any part of, the Series D Notes, Series E Notes, or Series F Notes (as applicable), in an amount not less than 5% of the aggregate principal amount of any series of the Series D Notes, Series E Notes, or Series F Notes (as applicable) then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid plus a Make-Whole Amount (as defined in the applicable Note Purchase Agreements). Each Note Purchase Agreement contains a number of customary financial covenants, including, without limitation, tangible net worth thresholds, secured and unsecured leverage ratios and fixed charge coverage ratios. Subject to the terms of the applicable Note Purchase Agreement and either the Series D Notes, Series E Notes, or Series F Notes (as applicable), upon certain events of default, including, but not limited to, (i) a default in the payment of any principal, Make-Whole Amount or interest under the Series D Notes, Series E Notes, and Series F Notes (as applicable), and (ii) a default in the payment of certain other indebtedness of the Operating Partnership, the Company or their subsidiaries, the principal and accrued and unpaid interest and the Make-Whole Amount on the outstanding Series D Notes, Series E Notes, and Series F Notes (as applicable) will become due and payable at the option of the Purchasers. The Operating Partnership’s obligations under the Series D Notes, Series E Notes, and Series F Notes are fully and unconditionally guaranteed by the Company and certain of their subsidiaries. Certain loans require us to comply with various financial covenants. As of September 30, 2017 , the Operating Partnership was in compliance with these financial covenants. Credit Facility On January 9, 2014, the Operating Partnership entered into an amended and restated credit agreement (the "Amended and Restated Credit Facility") which amended and restated the then in-place credit facility. The Amended and Restated Credit Facility provides for aggregate, unsecured borrowing of $350 million , consisting of a revolving line of credit of $250 million ("Revolver Loan") and a term loan of $100 million ("Term Loan A"). The Amended and Restated Credit Facility has an accordion feature that may allow the Operating Partnership to increase the availability thereunder up to an additional $250 million , subject to meeting specified requirements and obtaining additional commitments from lenders. At September 30, 2017 , there was no outstanding balance under the Revolver Loan. Borrowings under the Amended and Restated Credit Facility initially bear interest at floating rates equal to, at our option, either (1) LIBOR , plus a spread which ranges from (a) 1.35% - 1.95% (with respect to the Revolver Loan) and (b) 1.30% to 1.90% (with respect to Term Loan A), in each case based on our consolidated leverage ratio, or (2) a base rate equal to the highest of (a) the prime rate , (b) the federal funds rate plus 50 bps or (c) the Eurodollar rate plus 100 bps, plus a spread which ranges from (i) 0.35% - 0.95% (with respect to the Revolver Loan) and (ii) 0.30% to 0.90% (with respect to Term Loan A), in each case based on our consolidated leverage ratio. The Revolver Loan initially matures on January 9, 2018, subject to the Operating Partnership's option to extend the Revolver Loan up to two times, with each such extension for a six -month period. Term Loan A initially matures on January 9, 2016, subject to the Operating Partnership's option to extend Term Loan A up to three times, with each such extension for a 12 -month period. The foregoing extension options are exercisable by the Operating Partnership subject to the satisfaction of certain conditions. Effective as of January 9, 2017, the Operating Partnership exercised the second of three options to extend the maturity date of Term Loan A to January 9, 2018. As of September 30, 2017 , the Operating Partnership was in compliance with the Amended and Restated Credit Facility financial covenants.

PARTNERS CAPITAL OF AMERICAN AS

PARTNERS CAPITAL OF AMERICAN ASSETS TRUST, L.P.	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P.	PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P. Noncontrolling interests in our Operating Partnership are interests in the Operating Partnership that are not owned by us. Noncontrolling interests consisted of 17,194,980 common units (the “noncontrolling common units”), and represented approximately 26.8% of the ownership interests in our Operating Partnership at September 30, 2017 . Common units and shares of our common stock have essentially the same economic characteristics in that common units and shares of our common stock share equally in the total net income or loss distributions of our Operating Partnership. Investors who own common units have the right to cause our Operating Partnership to redeem any or all of their common units for cash equal to the then-current market value of one share of our common stock, or, at our election, shares of our common stock on a one -for-one basis. During the nine months ended September 30, 2017 , 693,842 common units were converted into shares of our common stock. Earnings Per Unit of the Operating Partnership Basic earnings per unit (“EPU”) of the Operating Partnership is computed by dividing income applicable to unitholders by the weighted average Operating Partnership units outstanding, as adjusted for the effect of participating securities. Operating Partnership units granted in equity-based payment transactions that have non-forfeitable dividend equivalent rights are considered participating securities prior to vesting. The impact of unvested Operating Partnership unit awards on EPU has been calculated using the two-class method whereby earnings are allocated to the unvested Operating Partnership unit awards based on distributions and the unvested Operating Partnership units’ participation rights in undistributed earnings. The calculation of diluted earnings per unit for the three month periods ended September 30, 2017 and 2016 does not include the weighted average of 231,977 and 169,963 unvested Operating Partnership units, respectively, as these equity securities are either considered contingently issuable or the effect of including these equity securities was anti-dilutive to income from continuing operations and net income attributable to the unitholders. The calculation of diluted earnings per unit for the nine months ended September 30, 2017 and 2016 does not include the weighted average of 232,041 and 171,760 unvested Operating Partnership units, respectively,

EQUITY OF AMERICAN ASSETS TRUST

EQUITY OF AMERICAN ASSETS TRUST, INC.	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
EQUITY OF AMERICAN ASSETS TRUST, INC.	EQUITY OF AMERICAN ASSETS TRUST, INC. Stockholders' Equity On May 27, 2015, we entered into an at-the-market ("ATM") equity program with five sales agents in which we may, from time to time, offer and sell shares of our common stock having an aggregate offering price of up to $250.0 million . The sales of shares of our common stock made through the ATM equity program are made in "at-the-market" offerings as defined in Rule 415 of the Securities Act of 1933, as amended. During the three and nine months ended September 30, 2017 , the following shares of common stock were sold through the ATM equity programs (in thousands, except per share data and share amounts): Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Number of shares of common stock issued through ATM programs — 700,000 Weighted average price per share N/A $43.46 Proceeds, gross $ — $ 30,425 Sales agent compensation — (304 ) Offering costs — (46 ) Proceeds, net $ — $ 30,075 We intend to use the net proceeds from the ATM equity program to fund our development or redevelopment activities, repay amounts outstanding from time to time under our revolving line of credit or other debt financing obligations, fund potential acquisition opportunities and/or for general corporate purposes. As of September 30, 2017 , we had the capacity to issue up to an additional $176.2 million in shares of our common stock under our ATM equity program. Actual future sales will depend on a variety of factors including, but not limited to, market conditions, the trading price of our common stock and our capital needs. We have no obligation to sell the remaining shares available for sale under the ATM equity program. Dividends The following table lists the dividends declared and paid on our shares of common stock and noncontrolling common units during the nine months ended September 30, 2017 : Period Amount per Share/Unit Period Covered Dividend Paid Date First Quarter 2017 $ 0.26 January 1, 2017 to March 31, 2017 March 30, 2017 Second Quarter 2017 $ 0.26 April 1, 2017 to June 30, 2017 June 29, 2017 Third Quarter 2017 $ 0.26 July 1, 2017 to September 30, 2017 September 28, 2017 Taxability of Dividends Earnings and profits, which determine the taxability of distributions to stockholders and holders of common units, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of revenue recognition and compensation expense and in the basis of depreciable assets and estimated useful lives used to compute depreciation. Stock-Based Compensation We follow the FASB guidance related to stock compensation which establishes financial accounting and reporting standards for stock-based employee compensation plans, including all arrangements by which employees receive shares of stock or other equity instruments of the employer. The guidance also defines a fair value-based method of accounting for an employee stock option or similar equity instrument. The following table summarizes the activity of restricted stock awards during the nine months ended September 30, 2017 : Units Weighted Average Grant Date Fair Value Nonvested at January 1, 2017 232,765 $31.24 Granted 4,880 $40.99 Vested (4,900 ) $40.81 Forfeited (768 ) $30.62 Nonvested at September 30, 2017 231,977 $31.25 We recognize noncash compensation expense ratably over the vesting period, and accordingly, we recognized $0.6 million in noncash compensation expense for each of the three month periods ended September 30, 2017 and 2016 , which is included in general and administrative expense on the consolidated statements of comprehensive income. We recognized $1.9 million in noncash compensation expenses for the nine months ended September 30, 2017 and 2016 . Unrecognized compensation expense was $2.0 million at September 30, 2017 . Earnings Per Share We have calculated earnings per share (“EPS”) under the two-class method. The two-class method is an earnings allocation methodology whereby EPS for each class of common stock and participating security is calculated according to dividends declared and participation rights in undistributed earnings. The weighted average unvested shares outstanding, which are considered participating securities, were 231,977 and 169,963 for the three months ended September 30, 2017 and 2016 , respectively, and 232,041 and 171,760 for the nine months ended September 30, 2017 and 2016 , respectively. Therefore, we have allocated our earnings for basic and diluted EPS between common shares and unvested shares as these unvested shares have nonforfeitable dividend equivalent rights. Diluted EPS is calculated by dividing the net income applicable to common stockholders for the period by the weighted average number of common and dilutive instruments outstanding during the period using the treasury stock method. For the three and nine months ended September 30, 2017 and 2016 , diluted shares exclude incentive restricted stock as these awards are considered contingently issuable. Additionally, the unvested restricted stock awards subject to time vesting are anti-dilutive for all periods presented, and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS. The computation of basic and diluted EPS is presented below (dollars in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 NUMERATOR Net income from operations $ 12,505 $ 11,858 $ 30,401 $ 33,229 Less: Net income attributable to restricted shares (60 ) (42 ) (181 ) (128 ) Less: Income from operations attributable to unitholders in the Operating Partnership (3,351 ) (3,342 ) (8,220 ) (9,377 ) Net income attributable to common stockholders—basic $ 9,094 $ 8,474 $ 22,000 $ 23,724 Income from operations attributable to American Assets Trust, Inc. common stockholders—basic $ 9,094 $ 8,474 $ 22,000 $ 23,724 Plus: Income from operations attributable to unitholders in the Operating Partnership 3,351 3,342 8,220 9,377 Net income attributable to common stockholders—diluted $ 12,445 $ 11,816 $ 30,220 $ 33,101 DENOMINATOR Weighted average common shares outstanding—basic 46,898,086 45,377,719 46,650,403 45,282,643 Effect of dilutive securities—conversion of Operating Partnership units 17,194,980 17,894,983 17,431,294 17,897,994 Weighted average common shares outstanding—diluted 64,093,066 63,272,702 64,081,697 63,180,637 Earnings per common share, basic $ 0.19 $ 0.19 $ 0.47 $ 0.52 Earnings per common share, diluted $ 0.19 $ 0.19 $ 0.47 $ 0.52

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We elected to be taxed as a REIT and operate in a manner that allows us to qualify as a REIT for federal income tax purposes commencing with our initial taxable year. As a REIT, we are generally not subject to corporate level income tax on the earnings distributed currently to our stockholders that we derive from our REIT qualifying activities. Taxable income from non-REIT activities managed through our TRS is subject to federal and state income taxes. We lease our hotel property to a wholly owned TRS that is subject to federal and state income taxes. We account for income taxes using the asset and liability method, under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between GAAP carrying amounts and their respective tax bases. Additionally, we classify certain state taxes as income taxes for financial reporting purposes in accordance with ASC Topic 740, Income Taxes. A deferred tax liability is included in our consolidated balance sheets of $0.2 million and $0.3 million as of September 30, 2017 and December 31, 2016 , respectively, in relation to real estate asset basis differences of property subject to the Texas margin tax and certain prepaid expenses of our TRS. Income tax expense is recorded in other income (expense), net on our consolidated statements of comprehensive income. For the three and nine months ended September 30, 2017 , we recorded income tax expense of $0.2 million and income tax benefit of $0.03 million , respectively. For the three and nine months ended September 30, 2016 , we recorded income tax expense of $0.6 million for each period.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Legal We are sometimes involved in various disputes, lawsuits, warranty claims, environmental and other matters arising in the ordinary course of business. Management makes assumptions and estimates concerning the likelihood and amount of any potential loss relating to these matters. We are currently a party to various legal proceedings. We accrue a liability for litigation if an unfavorable outcome is probable and the amount of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, we accrue the best estimate within the range; however, if no amount within the range is a better estimate than any other amount, the minimum within the range is accrued. Legal fees related to litigation are expensed as incurred. We do not believe that the ultimate outcome of these matters, either individually or in the aggregate, could have a material adverse effect on our financial position or overall trends in results of operations; however, litigation is subject to inherent uncertainties. Also, under our leases, tenants are typically obligated to indemnify us from and against all liabilities, costs and expenses imposed upon or asserted against us as owner of the properties due to certain matters relating to the operation of the properties by the tenant. Commitments At The Landmark at One Market, we lease (the "Annex Lease"), as lessee, a building adjacent to The Landmark under an operating lease effective through June 30, 2021, which we have the option to extend until 2031 by way of two five -year extension options. At Waikiki Beach Walk, we sublease (the "FHB Sublease") a portion of the building of which Quiksilver is currently in possession, under an operating lease effective through December 31, 2021. Current minimum annual payments under the leases are as follows, as of September 30, 2017 (in thousands): Year Ending December 31, 2017 (three months ending December 31, 2017) $ 810 (1) 2018 3,274 2019 3,347 2020 3,422 2021 3,460 (2) Thereafter 24,823 Total $ 39,136 (1) Lease payments on the FHB Sublease are based on the stated lease rate of $70,578 through the end of the lease term, December 31, 2021. (2) Lease payments on the Annex Lease will be equal to fair rental value from July 2021 through the end of the options lease term. In the table, we have shown the option lease payments for this period based on the stated rate for the month of June 2021 of $217,744 . We have management agreements with Outrigger Hotels & Resorts or an affiliate thereof (“Outrigger”) pursuant to which Outrigger manages each of the retail and hotel portions of the Waikiki Beach Walk property. Under the management agreement with Outrigger relating to the retail portion of Waikiki Beach Walk (the “retail management agreement”), we pay Outrigger a monthly management fee of 3.0% of net revenues from the retail portion of Waikiki Beach Walk. Pursuant to the terms of the retail management agreement, if the agreement is terminated in certain instances, including our election not to repair damage or destruction at the property, a condemnation or our failure to make required working capital infusions, we would be obligated to pay Outrigger a termination fee equal to the sum of the management fees paid for the two calendar months immediately preceding the termination date. The retail management agreement may not be terminated by us or by Outrigger without cause. Under our management agreement with Outrigger relating to the hotel portion of Waikiki Beach Walk (the “hotel management agreement”), we pay Outrigger a monthly management fee of 6.0% of the hotel's gross operating profit, as well as 3.0% of the hotel's gross revenues; provided that the aggregate management fee payable to Outrigger for any year shall not exceed 3.5% of the hotel's gross revenues for such fiscal year. Pursuant to the terms of the hotel management agreement, if the agreement is terminated in certain instances, including upon a transfer by us of the hotel or upon a default by us under the hotel management agreement, we would be required to pay a cancellation fee calculated by multiplying (1) the management fees for the previous 12 months by (2) (a) eight , if the agreement is terminated in the first 11 years of its term, or (b) four , three , two or one , if the agreement is terminated in the twelfth, thirteenth, fourteenth or fifteenth year, respectively, of its term. The hotel management agreement may not be terminated by us or by Outrigger without cause. A wholly owned subsidiary of our Operating Partnership, WBW Hotel Lessee LLC, entered into a franchise license agreement with Embassy Suites Franchise LLC, the franchisor of the brand “Embassy Suites™,” to obtain the non-exclusive right to operate the hotel under the Embassy Suites TM brand for 20 years. The franchise license agreement provides that WBW Hotel Lessee LLC must comply with certain management, operational, record keeping, accounting, reporting and marketing standards and procedures. In connection with this agreement, we are also subject to the terms of a product improvement plan pursuant to which we expect to undertake certain actions to ensure that our hotel's infrastructure is maintained in compliance with the franchisor's brand standards. In addition, we must pay to Embassy Suites Franchise LLC a monthly franchise royalty fee equal to 4.0% of the hotel's gross room revenue through December 2021 and 5.0% of the hotel's gross room revenue thereafter, as well as a monthly program fee equal to 4.0% of the hotel's gross room revenue. If the franchise license is terminated due to our failure to make required improvements or to otherwise comply with its terms, we may be liable to the franchisor for a termination payment, which could be as high as $7.5 million based on operating performance through September 30, 2017 . Our Del Monte Center property has ongoing environmental remediation related to ground water contamination. The environmental issue existed at purchase and remains in remediation. The final stages of the remediation will include routine, long term ground monitoring by the appropriate regulatory agency over the next five to seven years. The work performed is financed through an escrow account funded by the seller upon purchase of the Del Monte Center. We believe the funds in the escrow account are sufficient for the remaining work to be performed. However, if further work is required costing more than the remaining escrow funds, we could be required to pay such overage, although we may have a contractual claim for such costs against the prior owner or our environmental remediation consultant. In connection with our initial public offering, we entered into tax protection agreements with certain limited partners of our Operating Partnership. These agreements provide that if we dispose of any interest with respect to Carmel Country Plaza, Carmel Mountain Plaza, Del Monte Center, Loma Palisades, Lomas Santa Fe Plaza, Waikele Center or the Torrey Plaza (formerly ICW Plaza) portion of Torrey Reserve Campus, in a taxable transaction during the period from the closing of our initial public offering through January 19, 2018, we will indemnify such limited partners for their tax liabilities attributable to their share of the built-in gain that existed with respect to such property interest as of the time of our initial public offering and tax liabilities incurred as a result of the reimbursement payment. Subject to certain exceptions and limitations, the indemnification rights will terminate for any such protected partner that sells, exchanges or otherwise disposes of more than 50% of his or her common units. We have no present intention to sell or otherwise dispose of the properties or interest therein in taxable transactions during the restriction period. If we were to trigger the tax protection provisions under these agreements, we would be required to pay damages in the amount of the taxes owed by these limited partners (plus additional damages in the amount of the taxes incurred as a result of such payment). Concentrations of Credit Risk Our properties are located in Southern California, Northern California, Hawaii, Oregon, Texas, and Washington. The ability of the tenants to honor the terms of their respective leases is dependent upon the economic, regulatory and social factors affecting the markets in which the tenants operate. Thirteen of our consolidated properties are located in Southern California, which exposes us to greater economic risks than if we owned a more geographically diverse portfolio. Tenants in the retail industry accounted for 32.7% of total revenues for the nine months ended September 30, 2017 . This makes us susceptible to demand for retail rental space and subject to the risks associated with an investment in real estate with a concentration of tenants in the retail industry. Furthermore, tenants in the office industry accounted for 33.9% of total revenues for the nine months ended September 30, 2017 . This makes us susceptible to demand for office rental space and subject to the risks associated with an investment in real estate with a concentration of tenants in the office industry. For the nine months ended September 30, 2017 and 2016 , no tenant accounted for more than 10% of our total rental revenue.

OPERATING LEASES

OPERATING LEASES	9 Months Ended
	Sep. 30, 2017
Leases [Abstract]
OPERATING LEASES	OPERATING LEASES Our leases with office, retail, mixed-use and residential tenants are classified as operating leases. Leases at our office and retail properties and the retail portion of our mixed-use property generally range from three to ten years (certain leases with anchor tenants may be longer), and in addition to minimum rents, usually provide for cost recoveries for the tenant’s share of certain operating costs and also may include percentage rents based on the tenant’s level of sales achieved. Leases on apartments generally range from 7 to 15 months , with a majority having 12 -month lease terms. Rooms at the hotel portion of our mixed-use property are rented on a nightly basis. As of September 30, 2017 , minimum future rentals from noncancelable operating leases, before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows (in thousands): Year Ending December 31, 2017 (three months ending December 31, 2017) $ 43,663 2018 170,293 2019 140,849 2020 117,179 2021 95,218 Thereafter 255,893 Total $ 823,095 The above future minimum rentals exclude residential leases, which typically have a term of 12 months or less, and exclude the hotel, as rooms are rented on a nightly basis.

COMPONENTS OF RENTAL INCOME AND

COMPONENTS OF RENTAL INCOME AND EXPENSE	9 Months Ended
	Sep. 30, 2017
Operating Leases, Income Statement, Lease Revenue [Abstract]
COMPONENTS OF RENTAL INCOME AND EXPENSE	COMPONENTS OF RENTAL INCOME AND EXPENSE The principal components of rental income are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Minimum rents Retail $ 19,520 $ 18,524 $ 56,598 $ 55,548 Office 23,494 22,458 69,829 67,427 Multifamily 11,473 7,451 28,957 19,806 Mixed-use 2,671 2,650 7,813 7,962 Cost reimbursement 8,838 8,344 24,854 23,832 Percentage rent 700 685 1,611 1,572 Hotel revenue 11,006 11,371 30,216 30,045 Other 433 369 1,222 1,126 Total rental income $ 78,135 $ 71,852 $ 221,100 $ 207,318 Minimum rents include $0.0 million and $(0.3) million for the three months ended September 30, 2017 and 2016 , respectively, and $(0.3) million for each of the nine month periods ended September 30, 2017 and 2016 , respectively, to recognize minimum rents on a straight-line basis. In addition, net amortization of above and below market leases included in minimum rents were $0.8 million and $0.9 million for the three months ended September 30, 2017 and 2016 , respectively, and $2.5 million and $2.6 million for the nine months ended September 30, 2017 and 2016 , respectively. The principal components of rental expenses are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Rental operating $ 8,625 $ 8,404 $ 25,135 $ 23,996 Hotel operating 6,233 6,158 18,530 17,744 Repairs and maintenance 3,202 3,069 8,717 8,506 Marketing 506 432 1,404 1,454 Rent 774 722 2,325 2,190 Hawaii excise tax 1,231 1,255 3,201 3,250 Management fees 606 551 1,565 1,494 Total rental expenses $ 21,177 $ 20,591 $ 60,877 $ 58,634

OTHER INCOME, NET

OTHER INCOME, NET	9 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
OTHER EXPENSE, NET	OTHER INCOME, NET The principal components of other income (expense), net, are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Interest and investment income $ 111 $ 24 $ 371 $ 63 Income tax benefit (expense) (210 ) (601 ) 32 (643 ) Other non-operating income — — — 126 Total other income (expense), net $ (99 ) $ (577 ) $ 403 $ (454 )

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS At Torrey Plaza, we previously leased space to Insurance Company of the West, a California corporation ("ICW"), which is an insurance company majority owned and controlled by Ernest Rady, our Chief Executive Officer, President and Chairman of the Board. Our lease agreement with ICW expired on December 31, 2016. Rental revenue recognized on the leases of $1.6 million for the nine months ended September 30, 2016 is included in rental income. Additionally, we maintain a workers' compensation insurance policy with ICW, which was renewed on July 1, 2016 and the premium was approximately $0.2 million for the period July 1, 2016 through July 1, 2017. We renewed this policy with ICW during the second quarter of 2017 and the premium is approximately $0.2 million for the period July 1, 2017 through July 1, 2018. The Waikiki Beach Walk entities have a 47.7% investment in WBW CHP LLC, an entity that was formed to, among other things, construct a chilled water plant to provide air conditioning to the property and other adjacent facilities. The operating expenses of WBW CHP LLC are recovered through reimbursements from its members, and reimbursements to WBW CHP LLC of $0.8 million and $0.7 million for the nine months ended September 30, 2017 and 2016 , respectively, is included in rental expenses on the statements of comprehensive income. On occasion, we utilize aircraft services provided by AAI Aviation, Inc. ("AAIA"), an entity owned and controlled by Ernest Rady, our Chief Executive Officer, President and Chairman of the Board. For each of the nine month periods ended September 30, 2017 and 2016, we incurred approximately $0.1 million of expenses related to aircraft services of AAIA or reimbursement to Mr. Rady (or the Ernest Rady Trust U/D/T March 13, 1983) for use of the aircraft owned by AAIA. These expenses are recorded as general and administrative expenses in our consolidated statements of comprehensive income.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Segment information is prepared on the same basis that our management reviews information for operational decision-making purposes. We operate in four business segments: the acquisition, redevelopment, ownership and management of retail real estate, office real estate, multifamily real estate and mixed-use real estate. The products for our retail segment primarily include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our multifamily segment include rental of apartments and other tenant services. The products of our 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. We evaluate the performance of our segments based on segment profit, which is defined as property revenue less property expenses. We do not use asset information as a measure to assess performance and make decisions to allocate resources. Therefore, depreciation and amortization expense is not allocated among segments. General and administrative expenses, interest expense, depreciation and amortization expense and other income and expense are not included in segment profit as our internal reporting addresses these items on a corporate level. Segment profit is not a measure of operating income or cash flows from operating activities as measured by GAAP, and it is not indicative of cash available to fund cash needs and should not be considered an alternative to cash flows as a measure of liquidity. Not all companies calculate segment profit in the same manner. We consider segment profit to be an appropriate supplemental measure to net income because it assists both investors and management in understanding the core operations of our properties. The following table represents operating activity within our reportable segments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total Retail Property revenue $ 26,547 $ 25,064 $ 76,292 $ 74,316 Property expense (6,934 ) (7,159 ) (20,419 ) (20,203 ) Segment profit 19,613 17,905 55,873 54,113 Total Office Property revenue 26,653 25,818 79,002 76,416 Property expense (7,874 ) (8,146 ) (23,720 ) (23,395 ) Segment profit 18,779 17,672 55,282 53,021 Total Multifamily Property revenue 12,410 8,053 31,324 21,407 Property expense (5,281 ) (3,288 ) (12,574 ) (8,960 ) Segment profit 7,129 4,765 18,750 12,447 Total Mixed-Use Property revenue 16,729 17,041 46,619 46,387 Property expense (9,623 ) (9,394 ) (28,139 ) (26,522 ) Segment profit 7,106 7,647 18,480 19,865 Total segments’ profit $ 52,627 $ 47,989 $ 148,385 $ 139,446 The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total segments’ profit $ 52,627 $ 47,989 $ 148,385 $ 139,446 General and administrative (4,958 ) (4,513 ) (15,171 ) (13,456 ) Depreciation and amortization (21,192 ) (17,992 ) (63,360 ) (53,159 ) Interest expense (13,873 ) (13,049 ) (39,856 ) (39,148 ) Other (expense) income, net (99 ) (577 ) 403 (454 ) Net income 12,505 11,858 30,401 33,229 Net income attributable to restricted shares (60 ) (42 ) (181 ) (128 ) Net income attributable to unitholders in the Operating Partnership (3,351 ) (3,342 ) (8,220 ) (9,377 ) Net income attributable to American Assets Trust, Inc. stockholders $ 9,094 $ 8,474 $ 22,000 $ 23,724 The following table shows net real estate and secured note payable balances for each of the segments (in thousands): September 30, 2017 December 31, 2016 Net Real Estate Retail $ 662,820 $ 629,261 Office 811,193 813,414 Multifamily 425,771 203,014 Mixed-Use 182,062 185,857 $ 2,081,846 $ 1,831,546 Secured Notes Payable (1) Retail $ 35,914 $ 36,424 Office 170,589 206,550 Multifamily 73,744 73,744 Mixed-Use — 130,310 $ 280,247 $ 447,028 (1) Excludes unamortized fair market value adjustments and debt issuance costs of $0.4 million and $1.8 million as of September 30, 2017 and December 31, 2016 , respectively. Capital expenditures for each segment for the three and nine months ended September 30, 2017 and 2016 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Capital Expenditures (1) Retail $ 3,803 $ 2,203 $ 7,849 $ 11,867 Office 10,555 11,637 25,715 33,276 Multifamily 1,953 213 4,521 2,032 Mixed-Use 211 100 414 216 $ 16,522 $ 14,153 $ 38,499 $ 47,391 (1) Capital expenditures represent cash paid for capital expenditures during the period and include leasing commissions paid.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Business and Organization	Business and Organization American Assets Trust, Inc. (which may be referred to in these financial statements as the “Company,” “we,” “us,” or “our”) is a Maryland corporation formed on July 16, 2010 that did not have any operating activity until the consummation of our initial public offering on January 19, 2011. The Company is the sole general partner of American Assets Trust, L.P., a Maryland limited partnership formed on July 16, 2010 (the “Operating Partnership”). The Company’s operations are carried on through our Operating Partnership and its subsidiaries, including our taxable real estate investment trust ("REIT") subsidiary ("TRS"). Since the formation of our Operating Partnership, the Company has controlled our Operating Partnership as its general partner and has consolidated its assets, liabilities and results of operations. We are a full service vertically integrated and self-administered REIT with approximately 178 employees providing substantial in-house expertise in asset management, property management, property development, leasing, tenant improvement construction, acquisitions, repositioning, redevelopment and financing. As of September 30, 2017 , we owned or had a controlling interest in 26 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as of September 30, 2017 , we owned land at four of our properties that we classify as held for development and/or construction in progress. A summary of the properties owned by us is as follows: Retail Carmel Country Plaza Gateway Marketplace Alamo Quarry Market Carmel Mountain Plaza Del Monte Center Hassalo on Eighth - Retail South Bay Marketplace Geary Marketplace Lomas Santa Fe Plaza The Shops at Kalakaua Solana Beach Towne Centre Waikele Center Office Torrey Reserve Campus Lloyd District Portfolio Solana Beach Corporate Centre City Center Bellevue The Landmark at One Market One Beach Street First & Main Multifamily Loma Palisades Imperial Beach Gardens Mariner's Point Santa Fe Park RV Resort Pacific Ridge Apartments Hassalo on Eighth - Residential Mixed-Use Waikiki Beach Walk Retail and Embassy Suites™ Hotel Held for Development and/or Construction in Progress Solana Beach Corporate Centre – Land Solana Beach – Highway 101 – Land Torrey Point – Construction in Progress Lloyd District Portfolio – Construction in Progress
Basis of Presentation	Basis of Presentation Our consolidated financial statements include the accounts of the Company, our Operating Partnership and our subsidiaries. The equity interests of other investors in our Operating Partnership are reflected as noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. The accompanying consolidated financial statements of the Company and the Operating Partnership have been prepared in accordance with the rules applicable to Form 10-Q and include all information and footnotes required for interim financial statement presentation, but do not include all disclosures required under accounting principles generally accepted in the United States (“GAAP”) for annual financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments, except as otherwise noted) considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the audited consolidated financial statements and notes therein included in the Company's and Operating Partnership's annual report on Form 10-K for the year ended December 31, 2016 . The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using our best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates. Any reference to the number of properties, number of units, square footage, employee numbers or percentages of beneficial ownership of our shares are unaudited and outside the scope of our independent registered public accounting firm’s review of our financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board.
Significant Accounting Policies	Significant Accounting Policies We describe our significant accounting policies in Note 1 to the consolidated financial statements in Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2016 . Except for the adoption of the accounting standards during the first quarter of 2017 as discussed below, there have been no changes to our significant accounting policies during the nine months ended September 30, 2017 .
Segment Information	Segment Information Segment information is prepared on the same basis that our chief operating decision maker reviews information for operational decision-making purposes. We operate in four business segments: the acquisition, redevelopment, ownership and management of retail real estate, office real estate, multifamily real estate and mixed-use real estate. The products for our retail segment primarily include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our multifamily segment include rental of apartments and other tenant services. The products of our 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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-1, Business Combinations: Clarifying the Definition of a Business . The pronouncement changes the definition of a business to assist entities with evaluating when a set of transferred assets and activities is a business. The pronouncement requires an entity to evaluate if substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets; if so, the set of transferred assets and activities is not a business. The pronouncement is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018, with early adoption permitted. The Company adopted the provisions of ASU 2017-01 effective January 1, 2017. For the period from January 1, 2017 through September 30, 2017 , the Company acquired three properties for which we concluded that substantially all of the fair value of the assets acquired were concentrated in a single identifiable asset and that the assets therefore did not meet the definition of a business under ASU 2017-01. Acquisition transaction costs associated with these property acquisitions were approximately $0.2 million and were capitalized to real estate investments. In November 2016, the FASB issued ASU 2016-18, Restricted Cash. This pronouncement will require companies to include restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The pronouncement will require a disclosure of a reconciliation between the statement of financial position and the statement of cash flows when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents. Entities with material restricted cash and restricted cash equivalents balances will be required to disclose the nature of the restrictions. The ASU is effective for reporting periods beginning after December 15, 2017, with early adoption permitted, and will be applied retrospectively to all periods presented. As of September 30, 2017 and December 31, 2016 , we had $10.1 million and $10.0 million of restricted cash, respectively, on our consolidated balance sheets. Upon adoption of this ASU, restricted cash balances will be included along with cash and cash equivalents as of the end of period and beginning of period, respectively, on our consolidated statement of cash flows for all periods presented; separate line items showing changes in restricted cash balances will be eliminated from our consolidated statement of cash flows. In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which amends ASC 718, Compensation – Stock Compensation. This pronouncement simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. ASU 2016-09 is effective for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. The Company adopted ASU 2016-09 in the first quarter of 2017 and the adoption did not have a material impact on our consolidated financial statements. In February 2016, the FASB issued an ASU that establishes a right-of-use model that requires a lessee to record a right-of-use asset and a lease liability on the balance sheet for all leases with terms longer than twelve months. The accounting applied by lessors under this ASU is largely unchanged. Leases will be either classified as sales-type, finance or operating, with classification affecting the pattern of expense recognition in the income statement. The ASU also requires significant additional disclosures about the amount, timing and uncertainty of cash flows from leases. The ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2018. A modified retrospective transition approach is required for lessors for sales-type, direct financing, and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. We are in the process of evaluating the impact this pronouncement will have on our consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The pronouncement was issued to clarify the principles for recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and International Financial Reporting Standards. The pronouncement is effective for fiscal years beginning after December 15, 2017. The Company will adopt ASU 2014-09 in the first quarter of 2018 using the modified retrospective approach. We have begun our process for implementing this standard, including performing a preliminary review of all revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition. As of September 30, 2017, we have completed our assessment of the impact of this pronouncement for revenue generated from our Multifamily segment. The majority of revenue from our Multifamily segment is generated from leases that are specifically excluded from ASC 606. Additionally, we do not believe that ASC 606 will impact the amount or timing of revenue recognition for other revenue types generated from the Multifamily segment. We are continuing to evaluate this standard for revenue streams for our other segments and the allowable methods of adoption; however, the majority of our revenue from these other segments also consists of rental income from leasing arrangements, which are excluded from this standard. As the Company progresses further in its analysis, the scope of this assessment could be expanded to include other contract elements that could have an accounting impact under the new standard. The Company is also continuing to assess the potential effect that this new standard is expected to have on our consolidated financial statements as it relates to our leasing arrangements with our tenants and in concert with our assessment and anticipated adoption of the new leasing guidance under ASU 2016-02, Leases (see above). The ultimate impacts are currently unknown or not reasonably estimable at this time. The Company continues to evaluate other areas of the standard and is currently assessing the impact on its consolidated financial statements and notes to its consolidated financial statements and cannot reasonably estimate quantitative information related to the impact of the new standard on its consolidated financial statements at this time.
Fair Value Measurement, Policy	A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability. The hierarchy for inputs used in measuring fair value is as follows: 1. Level 1 Inputs—quoted prices in active markets for identical assets or liabilities 2. Level 2 Inputs—observable inputs other than quoted prices in active markets for identical assets and liabilities 3. Level 3 Inputs—unobservable inputs Except as disclosed below, the carrying amounts of our financial instruments approximate their fair value. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement.

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Consolidated Statements of Cash Flows-Supplemental Disclosures	The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands): Nine Months Ended September 30, 2017 2016 Supplemental cash flow information Total interest costs incurred $ 41,009 $ 40,368 Interest capitalized $ 1,153 $ 1,220 Interest expense $ 39,856 $ 39,148 Cash paid for interest, net of amounts capitalized $ 33,720 $ 36,070 Cash paid for income taxes $ 296 $ 459 Supplemental schedule of noncash investing and financing activities Accounts payable and accrued liabilities for construction in progress $ (3,019 ) $ (471 ) Accrued leasing commissions $ 1,410 $ 275 Reduction to capital for prepaid offering costs $ 129 $ —

REAL ESTATE (Tables)

REAL ESTATE (Tables)	9 Months Ended
	Sep. 30, 2017
Real Estate [Abstract]
Summary of Property Assets Acquisitions, Pro Forma Financials, and Operating Results	On April 28, 2017, we acquired the Pacific Ridge Apartments, a 533 unit luxury apartment community located in San Diego, California. The purchase price was approximately $232 million , excluding closing costs of approximately $0.1 million . On July 6, 2017, we acquired Gateway Marketplace, an approximately 128,000 square feet dual-grocery anchored shopping center located in Chula Vista, California. The purchase price was approximately $42 million , excluding closing costs of approximately $0.1 million . The properties were acquired with cash on hand and borrowings under our Amended and Restated Credit Agreement (as defined herein). The financial information set forth below summarizes the Company’s purchase price allocations for the Pacific Ridge Apartments and Gateway Marketplace during the nine months ended September 30, 2017 (in thousands): Pacific Ridge Apartments Gateway Marketplace Land $ 47,972 $ 17,363 Building 171,813 19,192 Land improvements 3,403 1,522 Furniture, fixtures, and equipment 3,281 930 Total real estate 226,469 39,007 Lease intangibles 5,592 2,920 Prepaid expenses and other assets 424 — Assets acquired $ 232,485 $ 41,927 Accounts payable and accrued expenses $ 74 $ 203 Security deposits payable 673 22 Other liabilities and deferred credits 49 1,034 Liabilities assumed $ 796 $ 1,259 The following table summarizes the operating results for the Pacific Ridge Apartments and Gateway Marketplace included in the Company’s historical consolidated statement of operations for the period of acquisition through September 30, 2017 (in thousands): Pacific Ridge Apartments Gateway Marketplace Total Revenues $ 6,884 $ 806 $ 7,690 Operating expenses $ 11,813 $ 499 $ 12,312 Operating (loss) income $ (4,929 ) $ 307 $ (4,622 ) Net (loss) income attributable to American Assets Trust, Inc. $ (4,929 ) $ 307 $ (4,622 )

ACQUIRED IN-PLACE LEASES AND 27

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES (Tables)	9 Months Ended
	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of acquired lease intangibles included in other assets and other liabilities	The following summarizes our acquired lease intangibles and leasing costs, which are included in other assets and other liabilities and deferred credits, as of September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 In-place leases $ 54,206 $ 48,741 Accumulated amortization (45,154 ) (38,906 ) Above market leases 21,262 21,667 Accumulated amortization (19,854 ) (19,579 ) Acquired lease intangible assets, net $ 10,460 $ 11,923 Below market leases $ 67,423 $ 66,521 Accumulated accretion (36,252 ) (33,073 ) Acquired lease intangible liabilities, net $ 31,171 $ 33,448

FAIR VALUE OF FINANCIAL INSTR28

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Financial liabilities measured at fair value on recurring basis	A summary of our financial liabilities that are measured at fair value on a recurring basis, by level within the fair value hierarchy is as follows (in thousands): September 30, 2017 December 31, 2016 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Deferred compensation liability $ — $ 1,158 $ — $ 1,158 $ — $ 1,006 $ — $ 1,006 Interest rate swap asset $ — $ 3,624 $ — $ 3,624 $ — $ 16,428 $ — $ 16,428 Interest rate swap liability $ — $ 358 $ — $ 358 $ — $ 1,067 $ — $ 1,067
Carrying amount and fair value of financial instruments	A summary of the carrying amount and fair value of our secured financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands): September 30, 2017 December 31, 2016 Carrying Value Fair Value Carrying Value Fair Value Secured notes payable, net $ 279,867 $ 287,361 $ 445,180 $ 457,621 Unsecured term loans, net $ 248,555 $ 250,000 $ 247,883 $ 250,000 Unsecured senior guaranteed notes, net $ 796,379 $ 808,384 $ 348,467 $ 351,357 Unsecured line of credit $ — $ — $ 20,000 $ 20,000

DERIVATIVE AND HEDGING ACTIVI29

DERIVATIVE AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The following is a summary of the terms of our outstanding interest rate swaps as of September 30, 2017 (dollars in thousands): Swap Counterparty Notional Amount Effective Date Maturity Date Fair Value Bank of America, N.A. $ 100,000 1/9/2014 1/9/2019 $ (358 ) U.S. Bank N.A. $ 100,000 3/1/2016 3/1/2023 $ 2,396 Wells Fargo Bank, N.A. $ 50,000 5/2/2016 3/1/2023 $ 1,228

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	9 Months Ended
	Sep. 30, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Components of Other Assets	Other assets consist of the following (in thousands): September 30, 2017 December 31, 2016 Leasing commissions, net of accumulated amortization of $27,376 and $25,194, respectively $ 21,194 $ 18,131 Interest rate swap asset 3,624 16,428 Acquired above market leases, net 1,408 2,088 Acquired in-place leases, net 9,052 9,835 Lease incentives, net of accumulated amortization of $100 and $41, respectively 885 313 Other intangible assets, net of accumulated amortization of $1,102 and $1,128, respectively 240 206 Prepaid expenses and other 5,775 5,853 Total other assets $ 42,178 $ 52,854

OTHER LIABILITIES AND DEFERRE31

OTHER LIABILITIES AND DEFERRED CREDITS (Tables)	9 Months Ended
	Sep. 30, 2017
Other Liabilities Disclosure [Abstract]
Other liabilities and deferred credits	Other liabilities and deferred credits consist of the following (in thousands): September 30, 2017 December 31, 2016 Acquired below market leases, net $ 31,171 $ 33,448 Prepaid rent and deferred revenue 9,450 7,720 Interest rate swap liability 358 1,067 Deferred rent expense and lease intangible 1,716 1,756 Deferred compensation 1,158 1,006 Deferred tax liability 201 265 Straight-line rent liability 3,309 3,028 Other liabilities 60 47 Total other liabilities and deferred credits, net $ 47,423 $ 48,337

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Summary of total secured notes payable outstanding	The following is a summary of the Operating Partnership's total unsecured notes payable outstanding as of September 30, 2017 and December 31, 2016 (in thousands): Description of Debt Principal Balance as of Stated Interest Rate Stated Maturity Date September 30, 2017 December 31, 2016 as of September 30, 2017 Term Loan A $ 100,000 $ 100,000 Variable (1) January 9, 2019 (2) Senior Guaranteed Notes, Series A 150,000 150,000 4.04 % (3) October 31, 2021 Term Loan B 100,000 100,000 Variable (4) March 1, 2023 Term Loan C 50,000 50,000 Variable (5) March 1, 2023 Senior Guaranteed Notes, Series F 100,000 — 3.78 % (6) July 19, 2024 Senior Guaranteed Notes, Series B 100,000 100,000 4.45 % February 2, 2025 Senior Guaranteed Notes, Series C 100,000 100,000 4.50 % April 1, 2025 Senior Guaranteed Notes, Series D 250,000 — 4.29 % (7) March 1, 2027 Senior Guaranteed Notes, Series E 100,000 — 4.24 % (8) May 23, 2029 1,050,000 600,000 Debt issuance costs, net of accumulated amortization of $5,473 and $4,317, respectively (5,066 ) (3,650 ) Total Unsecured Notes Payable $ 1,044,934 $ 596,350 (1) The Operating Partnership has entered into an interest rate swap agreement that is intended to fix the interest rate associated with Term Loan A at approximately 3.08% through its maturity date and extension options, subject to adjustments based on our consolidated leverage ratio. (2) The Operating Partnership has an option to extend the term loan up to one time, with such extension for a 12-month period. The foregoing extension option is exercisable by us subject to the satisfaction of certain conditions. (3) The Operating Partnership entered into a one-month forward-starting seven -year swap contract on August 19, 2014, which was settled on September 19, 2014 at a gain of approximately $1.6 million . The forward-starting seven-year swap contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.88% per annum. (4) The Operating Partnership has entered into an interest rate swap agreement that is intended to fix the interest rate associated with Term Loan B at approximately 3.15% through its maturity date, subject to adjustments based on our consolidated leverage ratio. (5) The Operating Partnership has entered into an interest rate swap agreement that is intended to fix the interest rate associated with Term Loan C at approximately 3.14% through its maturity date, subject to adjustments based on our consolidated leverage ratio. (6) The Operating Partnership entered into a treasury lock contract on May 31, 2017, which was settled on June 23, 2017 at a loss of approximately $0.5 million . The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.85% per annum. (7) The Operating Partnership entered into forward-starting interest rate swap contracts on March 29, 2016 and April 7, 2016, which were settled on January 18, 2017 at a gain of approximately $10.4 million . The forward-starting interest swap rate contracts were deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.87% per annum. (8) The Operating Partnership entered into a treasury lock contract on April 25, 2017, which was settled on May 11, 2017 at a gain of approximately $0.7 million . The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 4.18% per annum. The following is a summary of our total secured notes payable outstanding as of September 30, 2017 and December 31, 2016 (in thousands): Principal Balance as of Stated Interest Rate Stated Maturity Date Description of Debt September 30, 2017 December 31, 2016 as of September 30, 2017 Waikiki Beach Walk—Retail (1)(2) $ — $ 130,310 5.39 % July 1, 2017 Solana Beach Corporate Centre III-IV (3)(4) — 35,440 6.39 % August 1, 2017 Loma Palisades (1) 73,744 73,744 6.09 % July 1, 2018 One Beach Street (1) 21,900 21,900 3.94 % April 1, 2019 Torrey Reserve—North Court (3) 20,120 20,399 7.22 % June 1, 2019 Torrey Reserve—VCI, VCII, VCIII (3) 6,795 6,884 6.36 % June 1, 2020 Solana Beach Corporate Centre I-II (3) 10,774 10,927 5.91 % June 1, 2020 Solana Beach Towne Centre (3) 35,914 36,424 5.91 % June 1, 2020 City Center Bellevue (1) 111,000 111,000 3.98 % November 1, 2022 280,247 447,028 Unamortized fair value adjustment — (1,347 ) Debt issuance costs, net of accumulated amortization of $1,150 and $1,029, respectively (380 ) (501 ) Total Secured Notes Payable Outstanding $ 279,867 $ 445,180 (1) Interest only. (2) Loan repaid in full, without premium or penalty, on March 1, 2017. (3) Principal payments based on a 30 -year amortization schedule. (4) Loan repaid in full, without premium or penalty, on April 3, 2017.

EQUITY OF AMERICAN ASSETS TRU33

EQUITY OF AMERICAN ASSETS TRUST, INC. (Tables)	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Schedule of At-the-Market Program	During the three and nine months ended September 30, 2017 , the following shares of common stock were sold through the ATM equity programs (in thousands, except per share data and share amounts): Three Months Ended September 30, 2017 Nine Months Ended September 30, 2017 Number of shares of common stock issued through ATM programs — 700,000 Weighted average price per share N/A $43.46 Proceeds, gross $ — $ 30,425 Sales agent compensation — (304 ) Offering costs — (46 ) Proceeds, net $ — $ 30,075
Dividends declared and paid on shares of common stock and noncontrolling common units	The following table lists the dividends declared and paid on our shares of common stock and noncontrolling common units during the nine months ended September 30, 2017 : Period Amount per Share/Unit Period Covered Dividend Paid Date First Quarter 2017 $ 0.26 January 1, 2017 to March 31, 2017 March 30, 2017 Second Quarter 2017 $ 0.26 April 1, 2017 to June 30, 2017 June 29, 2017 Third Quarter 2017 $ 0.26 July 1, 2017 to September 30, 2017 September 28, 2017
Activity of restricted stock awards	The following table summarizes the activity of restricted stock awards during the nine months ended September 30, 2017 : Units Weighted Average Grant Date Fair Value Nonvested at January 1, 2017 232,765 $31.24 Granted 4,880 $40.99 Vested (4,900 ) $40.81 Forfeited (768 ) $30.62 Nonvested at September 30, 2017 231,977 $31.25
Computation of basic and diluted EPS	The computation of basic and diluted EPS is presented below (dollars in thousands, except share and per share amounts): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 NUMERATOR Net income from operations $ 12,505 $ 11,858 $ 30,401 $ 33,229 Less: Net income attributable to restricted shares (60 ) (42 ) (181 ) (128 ) Less: Income from operations attributable to unitholders in the Operating Partnership (3,351 ) (3,342 ) (8,220 ) (9,377 ) Net income attributable to common stockholders—basic $ 9,094 $ 8,474 $ 22,000 $ 23,724 Income from operations attributable to American Assets Trust, Inc. common stockholders—basic $ 9,094 $ 8,474 $ 22,000 $ 23,724 Plus: Income from operations attributable to unitholders in the Operating Partnership 3,351 3,342 8,220 9,377 Net income attributable to common stockholders—diluted $ 12,445 $ 11,816 $ 30,220 $ 33,101 DENOMINATOR Weighted average common shares outstanding—basic 46,898,086 45,377,719 46,650,403 45,282,643 Effect of dilutive securities—conversion of Operating Partnership units 17,194,980 17,894,983 17,431,294 17,897,994 Weighted average common shares outstanding—diluted 64,093,066 63,272,702 64,081,697 63,180,637 Earnings per common share, basic $ 0.19 $ 0.19 $ 0.47 $ 0.52 Earnings per common share, diluted $ 0.19 $ 0.19 $ 0.47 $ 0.52

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Current minimum annual payments under the leases	Current minimum annual payments under the leases are as follows, as of September 30, 2017 (in thousands): Year Ending December 31, 2017 (three months ending December 31, 2017) $ 810 (1) 2018 3,274 2019 3,347 2020 3,422 2021 3,460 (2) Thereafter 24,823 Total $ 39,136 (1) Lease payments on the FHB Sublease are based on the stated lease rate of $70,578 through the end of the lease term, December 31, 2021. (2) Lease payments on the Annex Lease will be equal to fair rental value from July 2021 through the end of the options lease term. In the table, we have shown the option lease payments for this period based on the stated rate for the month of June 2021 of $217,744 .

OPERATING LEASES (Tables)

OPERATING LEASES (Tables)	9 Months Ended
	Sep. 30, 2017
Leases [Abstract]
Current minimum future rentals under the leases	As of September 30, 2017 , minimum future rentals from noncancelable operating leases, before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows (in thousands): Year Ending December 31, 2017 (three months ending December 31, 2017) $ 43,663 2018 170,293 2019 140,849 2020 117,179 2021 95,218 Thereafter 255,893 Total $ 823,095

COMPONENTS OF RENTAL INCOME A36

COMPONENTS OF RENTAL INCOME AND EXPENSE (Tables)	9 Months Ended
	Sep. 30, 2017
Operating Leases, Income Statement, Lease Revenue [Abstract]
Principal components of rental income	The principal components of rental income are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Minimum rents Retail $ 19,520 $ 18,524 $ 56,598 $ 55,548 Office 23,494 22,458 69,829 67,427 Multifamily 11,473 7,451 28,957 19,806 Mixed-use 2,671 2,650 7,813 7,962 Cost reimbursement 8,838 8,344 24,854 23,832 Percentage rent 700 685 1,611 1,572 Hotel revenue 11,006 11,371 30,216 30,045 Other 433 369 1,222 1,126 Total rental income $ 78,135 $ 71,852 $ 221,100 $ 207,318
Principal components of rental expenses	The principal components of rental expenses are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Rental operating $ 8,625 $ 8,404 $ 25,135 $ 23,996 Hotel operating 6,233 6,158 18,530 17,744 Repairs and maintenance 3,202 3,069 8,717 8,506 Marketing 506 432 1,404 1,454 Rent 774 722 2,325 2,190 Hawaii excise tax 1,231 1,255 3,201 3,250 Management fees 606 551 1,565 1,494 Total rental expenses $ 21,177 $ 20,591 $ 60,877 $ 58,634

OTHER INCOME, NET (Tables)

OTHER INCOME, NET (Tables)	9 Months Ended
	Sep. 30, 2017
Other Income and Expenses [Abstract]
Principal components of other expense, net	The principal components of other income (expense), net, are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Interest and investment income $ 111 $ 24 $ 371 $ 63 Income tax benefit (expense) (210 ) (601 ) 32 (643 ) Other non-operating income — — — 126 Total other income (expense), net $ (99 ) $ (577 ) $ 403 $ (454 )

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of segments operating activity	The following table represents operating activity within our reportable segments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total Retail Property revenue $ 26,547 $ 25,064 $ 76,292 $ 74,316 Property expense (6,934 ) (7,159 ) (20,419 ) (20,203 ) Segment profit 19,613 17,905 55,873 54,113 Total Office Property revenue 26,653 25,818 79,002 76,416 Property expense (7,874 ) (8,146 ) (23,720 ) (23,395 ) Segment profit 18,779 17,672 55,282 53,021 Total Multifamily Property revenue 12,410 8,053 31,324 21,407 Property expense (5,281 ) (3,288 ) (12,574 ) (8,960 ) Segment profit 7,129 4,765 18,750 12,447 Total Mixed-Use Property revenue 16,729 17,041 46,619 46,387 Property expense (9,623 ) (9,394 ) (28,139 ) (26,522 ) Segment profit 7,106 7,647 18,480 19,865 Total segments’ profit $ 52,627 $ 47,989 $ 148,385 $ 139,446
Reconciliation of segment profit to net income attributable to stockholders	The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total segments’ profit $ 52,627 $ 47,989 $ 148,385 $ 139,446 General and administrative (4,958 ) (4,513 ) (15,171 ) (13,456 ) Depreciation and amortization (21,192 ) (17,992 ) (63,360 ) (53,159 ) Interest expense (13,873 ) (13,049 ) (39,856 ) (39,148 ) Other (expense) income, net (99 ) (577 ) 403 (454 ) Net income 12,505 11,858 30,401 33,229 Net income attributable to restricted shares (60 ) (42 ) (181 ) (128 ) Net income attributable to unitholders in the Operating Partnership (3,351 ) (3,342 ) (8,220 ) (9,377 ) Net income attributable to American Assets Trust, Inc. stockholders $ 9,094 $ 8,474 $ 22,000 $ 23,724
Net real estate and secured note payable balances by segments	The following table shows net real estate and secured note payable balances for each of the segments (in thousands): September 30, 2017 December 31, 2016 Net Real Estate Retail $ 662,820 $ 629,261 Office 811,193 813,414 Multifamily 425,771 203,014 Mixed-Use 182,062 185,857 $ 2,081,846 $ 1,831,546 Secured Notes Payable (1) Retail $ 35,914 $ 36,424 Office 170,589 206,550 Multifamily 73,744 73,744 Mixed-Use — 130,310 $ 280,247 $ 447,028 (1) Excludes unamortized fair market value adjustments and debt issuance costs of $0.4 million and $1.8 million as of September 30, 2017 and December 31, 2016 , respectively.
Capital expenditures for each segment	Capital expenditures for each segment for the three and nine months ended September 30, 2017 and 2016 were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Capital Expenditures (1) Retail $ 3,803 $ 2,203 $ 7,849 $ 11,867 Office 10,555 11,637 25,715 33,276 Multifamily 1,953 213 4,521 2,032 Mixed-Use 211 100 414 216 $ 16,522 $ 14,153 $ 38,499 $ 47,391 (1) Capital expenditures represent cash paid for capital expenditures during the period and include leasing commissions paid

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2017USD ($)EmployeeSegmentRoomProperty	Dec. 31, 2016USD ($)
Accounting Policies [Abstract]
Number of properties acquired	3
Acquisition cost capitalized | $	$ 200
Number of employees | Employee	178
Office, retail, multifamily, and mixed-use operating properties	26
Properties held for development	4
Number of operating segments | Segment	4
Room in mixed-use segment all-suite hotel | Room	369
Restricted cash | $	$ 10,124	$ 9,950

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Supplement Disclosures Related to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accounting Policies [Abstract]
Total interest costs incurred			$ 41,009	$ 40,368
Interest capitalized			1,153	1,220
Interest expense	$ 13,873	$ 13,049	39,856	39,148
Cash paid for interest, net of amounts capitalized			33,720	36,070
Cash paid for income taxes			296	459
Accounts payable and accrued liabilities for construction in progress			(3,019)	(471)
Accrued leasing commissions			1,410	275
Reduction to capital for prepaid offering costs			$ 129	$ 0

REAL ESTATE (Details)

REAL ESTATE (Details) $ in Millions	Jul. 06, 2017USD ($)ft²	Apr. 28, 2017USD ($)unit	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2017USD ($)
Real Estate [Line Items]
Acquisition cost capitalized					$ 0.2
Pacific Ridge
Real Estate [Line Items]
Number of units in real estate property | unit		533
Purchase price consideration		$ 232
Acquisition cost capitalized				$ 0.1
Gateway Marketplace
Real Estate [Line Items]
Purchase price consideration	$ 42
Acquisition cost capitalized			$ 0.1
Area of real estate property | ft²	128,000

REAL ESTATE Property Asset Acqu

REAL ESTATE Property Asset Acquisitions (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Real Estate [Line Items]
Lease intangibles	$ 9,052	$ 9,835
Prepaid expenses and other	5,775	5,853
TOTAL ASSETS	2,275,618	1,986,933
Accounts payable and accrued expenses	48,107	32,401
Security deposits payable	6,736	6,114
Other liabilities and deferred credits, net	47,423	48,337
Total liabilities	1,427,067	$ 1,148,382
Pacific Ridge
Real Estate [Line Items]
Land	47,972
Building	171,813
Land improvements	3,403
Furniture, fixtures, and equipment	3,281
Total real estate	226,469
Lease intangibles	5,592
Prepaid expenses and other	424
TOTAL ASSETS	232,485
Accounts payable and accrued expenses	74
Security deposits payable	673
Other liabilities and deferred credits, net	49
Total liabilities	796
Gateway Marketplace
Real Estate [Line Items]
Land	17,363
Building	19,192
Land improvements	1,522
Furniture, fixtures, and equipment	930
Total real estate	39,007
Lease intangibles	2,920
Prepaid expenses and other	0
TOTAL ASSETS	41,927
Accounts payable and accrued expenses	203
Security deposits payable	22
Other liabilities and deferred credits, net	1,034
Total liabilities	$ 1,259

REAL ESTATE Pacific Ridge & Gat

REAL ESTATE Pacific Ridge & Gateway Marketplace Financial Results (Details) - USD ($) $ in Thousands	3 Months Ended			5 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Real Estate [Line Items]
Revenues		$ 82,339	$ 75,976	$ 7,690	$ 233,237	$ 218,526
Operating Expenses		55,862	50,492	12,312	163,383	145,695
Operating Income (Loss)		26,477	25,484	(4,622)	69,854	72,831
Net income		$ 12,505	$ 11,858	(4,622)	$ 30,401	$ 33,229
Pacific Ridge
Real Estate [Line Items]
Revenues				6,884
Operating Expenses				11,813
Operating Income (Loss)				(4,929)
Net income				$ (4,929)
Gateway Marketplace
Real Estate [Line Items]
Revenues	$ 806
Operating Expenses	499
Operating Income (Loss)	307
Net income	$ 307

ACQUIRED IN-PLACE LEASES AND 44

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES Acquired Lease Intangibles and Leasing Costs Included in Other Assets and Other Liabilities and Deferred Credits (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired above market leases, net	$ 1,408	$ 2,088
Other intangible assets, accumulated amortization	(1,102)	(1,128)
Below market leases	67,423	66,521
Below market leases, accumulated amortization	(36,252)	(33,073)
Acquired lease intangible liabilities, net	31,171	33,448
Leases, Acquired-in-Place
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired above market leases, net	54,206	48,741
Other intangible assets, accumulated amortization	(45,154)	(38,906)
Above Market Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired above market leases, net	21,262	21,667
Other intangible assets, accumulated amortization	(19,854)	(19,579)
Lease Agreements
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	$ 10,460	$ 11,923

FAIR VALUE OF FINANCIAL INSTR45

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - Fair Value, Inputs, Level 2	9 Months Ended
	Sep. 30, 2017
Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value assumptions, interest rate	3.80%
Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair value assumptions, interest rate	4.50%

FAIR VALUE OF FINANCIAL INSTR46

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Liabilities Fair Value Measurement on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	$ 1,158	$ 1,006
Interest rate swap asset	3,624	16,428
Interest rate swap liability	358	1,067
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	0	0
Interest rate swap asset	0	0
Interest rate swap liability	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	1,158	1,006
Interest rate swap asset	3,624	16,428
Interest rate swap liability	358	1,067
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	0	0
Interest rate swap asset	0	0
Interest rate swap liability	$ 0	$ 0

FAIR VALUE OF FINANCIAL INSTR47

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying Amount and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Secured notes payable, net | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 279,867	$ 445,180
Unsecured term loans, net | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	248,555	247,883
Unsecured term loans, net | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	250,000	250,000
Unsecured senior guaranteed notes, net | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	796,379	348,467
Unsecured line of credit | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	20,000
Unsecured line of credit | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	20,000
Fair Value, Inputs, Level 2 | Secured notes payable, net | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	287,361	457,621
Fair Value, Inputs, Level 2 | Unsecured senior guaranteed notes, net | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 808,384	$ 351,357

DERIVATIVE AND HEDGING ACTIVI48

DERIVATIVE AND HEDGING ACTIVITIES (Details) - American Assets Trust, L.P. - USD ($)	Jun. 23, 2017	May 31, 2017	May 11, 2017	Apr. 25, 2017	Mar. 31, 2017	Jan. 18, 2017	Apr. 07, 2016	Mar. 29, 2016	Sep. 30, 2017	May 23, 2017	Mar. 01, 2017
Senior Guaranteed Notes, Series D
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Term of debt instrument					10 years
Senior Guaranteed Notes, Series D | Unsecured term loans, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Stated Maturity Date									Mar. 1, 2027
Face amount of debt											$ 250,000,000
Term Loan B | Unsecured term loans, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Stated Maturity Date									Mar. 1, 2023
Term Loan C | Unsecured term loans, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Stated Maturity Date									Mar. 1, 2023
Senior Guaranteed Notes, Series E | Unsecured term loans, net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Stated Maturity Date									May 23, 2029
Face amount of debt										$ 100,000,000
Term of debt instrument				12 years
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative contract term		7 years		10 years			10 years	10 years
Interest Rate Swap | Term Loan B
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative fixed interest rate (in percent)									3.15%
Interest Rate Swap | Term Loan C
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative fixed interest rate (in percent)									3.14%
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount							$ 100,000,000	$ 150,000,000
Maturity Date							Mar. 31, 2027	Mar. 31, 2027
Derivative fixed interest rate (in percent)							1.748%	1.88%
Effective Date							Mar. 31, 2017	Mar. 31, 2017
Gain recognized in other comprehensive income (loss)						$ 10,400,000
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap, 1/9/2019 | Bank of America, N.A.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount									$ 100,000,000
Maturity Date									Jan. 9, 2019
Effective Date									Jan. 9, 2014
Interest rate swap liability									$ (358,000)
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap, 3/1/2023 | U.S. Bank N.A.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount									$ 100,000,000
Maturity Date									Mar. 1, 2023
Effective Date									Mar. 1, 2016
Interest rate swap asset									$ 2,396,000
Designated as Hedging Instrument | Cash Flow Hedging | Interest Rate Swap, 3/1/2023 | Wells Fargo Bank, N.A.
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount									$ 50,000,000
Maturity Date									Mar. 1, 2023
Effective Date									May 2, 2016
Interest rate swap asset									$ 1,228,000
Designated as Hedging Instrument | Cash Flow Hedging | Treasury Lock
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional Amount		$ 100,000,000		$ 100,000,000
Maturity Date		Jul. 26, 2017		May 18, 2017
Derivative fixed interest rate (in percent)		2.064%		2.313%
Gain recognized in other comprehensive income (loss)			$ 700,000
Loss recognized in other comprehensive income (loss)	$ 500,000

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Leasing commissions, net of accumulated amortization of $27,376 and $25,194, respectively	$ 21,194	$ 18,131
Interest rate swap asset	3,624	16,428
Acquired above market leases, net	1,408	2,088
Acquired in-place leases, net	9,052	9,835
Lease incentives, net of accumulated amortization of $100 and $41, respectively	885	313
Other intangible assets, net of accumulated amortization of $1,102 and $1,128, respectively	240	206
Prepaid expenses and other	5,775	5,853
Total other assets	42,178	52,854
Leasing commissions, accumulative amortization	27,376	25,194
Lease incentives, accumulated amortization	100	41
Other intangible assets, accumulated amortization	$ 1,102	$ 1,128

OTHER LIABILITIES AND DEFERRE50

OTHER LIABILITIES AND DEFERRED CREDITS (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Acquired below market leases, net	$ 31,171	$ 33,448
Prepaid rent and deferred revenue	9,450	7,720
Interest rate swap liability	358	1,067
Deferred rent expense and lease intangible	1,716	1,756
Deferred compensation	1,158	1,006
Deferred tax liability	201	265
Straight-line rent liability	3,309	3,028
Other liabilities	60	47
Total other liabilities and deferred credits, net	$ 47,423	$ 48,337

DEBT - Summary of Total Secured

DEBT - Summary of Total Secured Notes Payable Outstanding (Details) - American Assets Trust, L.P. - Secured notes payable, net - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Long-term Debt, Principal Balance		$ 280,247	$ 447,028
Unamortized fair value adjustment		0	(1,347)
Debt issuance costs, net		(380)	(501)
Total Debt Outstanding		$ 279,867	445,180
Period of amortization schedule (in years)		30 years
Debt issuance costs, accumulated amortization		$ 1,150	1,029
Waikiki Beach Walk - Retail
Debt Instrument [Line Items]
Long-term Debt, Principal Balance	[1],[2]	$ 0	130,310
Stated Interest Rate	[1],[2]	5.39%
Stated Maturity Date	[1],[2]	Jul. 1, 2017
Solana Beach Corporate Centre Three To Four
Debt Instrument [Line Items]
Long-term Debt, Principal Balance	[3],[4]	$ 0	35,440
Stated Interest Rate	[3],[4]	6.39%
Stated Maturity Date	[3],[4]	Aug. 1, 2017
Loma Palisades
Debt Instrument [Line Items]
Long-term Debt, Principal Balance	[1]	$ 73,744	73,744
Stated Interest Rate	[1]	6.09%
Stated Maturity Date	[1]	Jul. 1, 2018
One Beach Street
Debt Instrument [Line Items]
Long-term Debt, Principal Balance	[1]	$ 21,900	21,900
Stated Interest Rate	[1]	3.94%
Stated Maturity Date	[1]	Apr. 1, 2019
Torrey Reserve North Court
Debt Instrument [Line Items]
Long-term Debt, Principal Balance	[4]	$ 20,120	20,399
Stated Interest Rate	[4]	7.22%
Stated Maturity Date	[4]	Jun. 1, 2019
Torrey Reserve
Debt Instrument [Line Items]
Long-term Debt, Principal Balance	[4]	$ 6,795	6,884
Stated Interest Rate	[4]	6.36%
Stated Maturity Date	[4]	Jun. 1, 2020
Solana Beach Corporate Centre One To Two
Debt Instrument [Line Items]
Long-term Debt, Principal Balance	[4]	$ 10,774	10,927
Stated Interest Rate	[4]	5.91%
Stated Maturity Date	[4]	Jun. 1, 2020
Solana Beach Towne Centre
Debt Instrument [Line Items]
Long-term Debt, Principal Balance	[4]	$ 35,914	36,424
Stated Interest Rate	[4]	5.91%
Stated Maturity Date	[4]	Jun. 1, 2020
City Center Bellevue
Debt Instrument [Line Items]
Long-term Debt, Principal Balance	[1]	$ 111,000	$ 111,000
Stated Interest Rate	[1]	3.98%
Stated Maturity Date	[1]	Nov. 1, 2022
[1]	Interest only.
[2]	Loan repaid in full, without premium or penalty, on March 1, 2017.
[3]	Loan repaid in full, without premium or penalty, on April 3, 2017.
[4]	Principal payments based on a 30-year amortization schedule.

DEBT - Summary of Total Unsecur

DEBT - Summary of Total Unsecured Notes Payable Outstanding (Details) - American Assets Trust, L.P.

Jun. 23, 2017USD ($)

May 31, 2017

May 11, 2017USD ($)

Apr. 25, 2017

Jan. 18, 2017USD ($)

Apr. 07, 2016

Mar. 29, 2016

Sep. 19, 2014USD ($)

Aug. 19, 2014

Sep. 30, 2017USD ($)Extension_Option

Jul. 19, 2017USD ($)

May 23, 2017USD ($)

Mar. 01, 2017USD ($)

Dec. 31, 2016USD ($)

Interest Rate Swap

Debt Instrument [Line Items]

Derivative contract term

7 years

10 years

10 years

10 years

Forward Contracts

Debt Instrument [Line Items]

Loss on derivative settlement

$ 500,000

Derivative contract term

7 years

Gain on derivative settlement

$ 700,000

$ 10,400,000

$ 1,600,000

Unsecured term loans, net

Debt Instrument [Line Items]

Long-term Debt, Principal Balance

$ 1,050,000,000

$ 600,000,000

Debt issuance costs, net

(5,066,000)

(3,650,000)

Total Debt Outstanding

1,044,934,000

596,350,000

Debt issuance costs, accumulated amortization

$ 5,473,000

4,317,000

Term Loan A

Debt Instrument [Line Items]

Debt extension options | Extension_Option

1

Term Loan A | Interest Rate Swap

Debt Instrument [Line Items]

Derivative fixed interest rate (in percent)

3.08%

Term Loan A | Unsecured term loans, net

Debt Instrument [Line Items]

Stated Maturity Date

[1]

Jan. 9, 2019

Long-term Debt, Principal Balance

$ 100,000,000

100,000,000

Senior Guaranteed Notes, Series A | Forward Contracts

Debt Instrument [Line Items]

Effective rate of debt instrument (in percent)

3.88%

Senior Guaranteed Notes, Series A | Unsecured term loans, net

Debt Instrument [Line Items]

Stated Interest Rate

[2]

4.04%

Stated Maturity Date

Oct. 31, 2021

Long-term Debt, Principal Balance

$ 150,000,000

150,000,000

Term Loan B | Interest Rate Swap

Debt Instrument [Line Items]

Derivative fixed interest rate (in percent)

3.15%

Term Loan B | Unsecured term loans, net

Debt Instrument [Line Items]

Stated Maturity Date

Mar. 1, 2023

Long-term Debt, Principal Balance

$ 100,000,000

100,000,000

Term Loan C | Interest Rate Swap

Debt Instrument [Line Items]

Derivative fixed interest rate (in percent)

3.14%

Term Loan C | Unsecured term loans, net

Debt Instrument [Line Items]

Stated Maturity Date

Mar. 1, 2023

Long-term Debt, Principal Balance

$ 50,000,000

50,000,000

Senior Guaranteed Notes, Series F | Forward Contracts

Debt Instrument [Line Items]

Effective rate of debt instrument (in percent)

3.85%

Senior Guaranteed Notes, Series F | Unsecured term loans, net

Debt Instrument [Line Items]

Stated Interest Rate

3.78%

[3]

3.78%

Face amount of debt

$ 100,000,000

Stated Maturity Date

Jul. 19, 2024

Long-term Debt, Principal Balance

$ 100,000,000

0

Senior Guaranteed Notes, Series B | Unsecured term loans, net

Debt Instrument [Line Items]

Stated Interest Rate

4.45%

Stated Maturity Date

Feb. 2, 2025

Long-term Debt, Principal Balance

$ 100,000,000

100,000,000

Senior Guaranteed Notes, Series C | Unsecured term loans, net

Debt Instrument [Line Items]

Stated Interest Rate

4.50%

Stated Maturity Date

Apr. 1, 2025

Long-term Debt, Principal Balance

$ 100,000,000

100,000,000

Senior Guaranteed Notes, Series D | Forward Contracts

Debt Instrument [Line Items]

Effective rate of debt instrument (in percent)

3.87%

Senior Guaranteed Notes, Series D | Unsecured term loans, net

Debt Instrument [Line Items]

Stated Interest Rate

4.29%

[4]

4.29%

Face amount of debt

$ 250,000,000

Stated Maturity Date

Mar. 1, 2027

Long-term Debt, Principal Balance

$ 250,000,000

0

Senior Guaranteed Notes, Series E | Forward Contracts

Debt Instrument [Line Items]

Effective rate of debt instrument (in percent)

4.18%

Senior Guaranteed Notes, Series E | Unsecured term loans, net

Debt Instrument [Line Items]

Stated Interest Rate

4.24%

[5]

4.24%

Face amount of debt

$ 100,000,000

Stated Maturity Date

May 23, 2029

Long-term Debt, Principal Balance

$ 100,000,000

$ 0

[1]

The Operating Partnership has an option to extend the term loan up to one time, with such extension for a 12-month period. The foregoing extension option is exercisable by us subject to the satisfaction of certain conditions.

[2]

The Operating Partnership entered into a one-month forward-starting seven-year swap contract on August 19, 2014, which was settled on September 19, 2014 at a gain of approximately $1.6 million. The forward-starting seven-year swap contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.88% per annum.

[3]

The Operating Partnership entered into a treasury lock contract on May 31, 2017, which was settled on June 23, 2017 at a loss of approximately $0.5 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.85% per annum.

[4]

The Operating Partnership entered into forward-starting interest rate swap contracts on March 29, 2016 and April 7, 2016, which were settled on January 18, 2017 at a gain of approximately $10.4 million. The forward-starting interest swap rate contracts were deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.87% per annum.

[5]

The Operating Partnership entered into a treasury lock contract on April 25, 2017, which was settled on May 11, 2017 at a gain of approximately $0.7 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 4.18% per annum.

DEBT (Details)

DEBT (Details)	Jul. 19, 2017USD ($)	May 23, 2017USD ($)	Mar. 01, 2017USD ($)	Mar. 01, 2016	Jan. 09, 2014USD ($)Extension_Option	Sep. 30, 2017USD ($)Extension_Option		Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Unsecured line of credit						$ 0		$ 20,000,000
Unsecured term loans, net | Term Loan A | Base Rate
Debt Instrument [Line Items]
Basis spread on federal funds rate				0.50%
Basis spread on Eurodollar rate				1.00%
Unsecured term loans, net | Amended and Restated Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Description of variable rate basis					LIBOR
Unsecured line of credit | Amended and Restated Credit Facility | Base Rate
Debt Instrument [Line Items]
Basis spread on federal funds rate					0.50%
Basis spread on Eurodollar rate					1.00%
American Assets Trust, L.P.
Debt Instrument [Line Items]
Unsecured line of credit						$ 0		$ 20,000,000
American Assets Trust, L.P. | Term Loan A
Debt Instrument [Line Items]
Debt extension options | Extension_Option						1
American Assets Trust, L.P. | Amended and Restated Credit Facility
Debt Instrument [Line Items]
Revolving credit facility borrowing limit, maximum borrowing capacity					$ 350,000,000
Additional borrowing capacity					$ 250,000,000
American Assets Trust, L.P. | Amended and Restated Credit Facility | Minimum | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate					0.35%
American Assets Trust, L.P. | Amended and Restated Credit Facility | Maximum | Base Rate | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate					0.95%
American Assets Trust, L.P. | Unsecured term loans, net | Senior Guaranteed Notes, Series D
Debt Instrument [Line Items]
Face amount of debt			$ 250,000,000
Stated Interest Rate			4.29%			4.29%	[1]
Debt Instrument, Partial Repayment, Minimum Percentage of Principal			5.00%
Debt Instrument, Prepayment, Percentage of Principal Plus a Stated Amount			100.00%
American Assets Trust, L.P. | Unsecured term loans, net | Senior Guaranteed Notes, Series E
Debt Instrument [Line Items]
Face amount of debt		$ 100,000,000
Stated Interest Rate		4.24%				4.24%	[2]
Debt Instrument, Partial Repayment, Minimum Percentage of Principal		5.00%
Debt Instrument, Prepayment, Percentage of Principal Plus a Stated Amount		100.00%
American Assets Trust, L.P. | Unsecured term loans, net | Senior Guaranteed Notes, Series F
Debt Instrument [Line Items]
Face amount of debt	$ 100,000,000
Stated Interest Rate	3.78%					3.78%	[3]
Debt Instrument, Partial Repayment, Minimum Percentage of Principal	5.00%
Debt Instrument, Prepayment, Percentage of Principal Plus a Stated Amount	100.00%
American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility
Debt Instrument [Line Items]
Revolving credit facility borrowing limit, maximum borrowing capacity					$ 100,000,000
Debt extension options | Extension_Option					3
Extension term					12 months
American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate					1.30%
American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility | Minimum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate					0.30%
American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate					1.90%
American Assets Trust, L.P. | Unsecured term loans, net | Amended and Restated Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate					0.90%
American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility
Debt Instrument [Line Items]
Unsecured line of credit						$ 0
American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility borrowing limit, maximum borrowing capacity					$ 250,000,000
Debt extension options | Extension_Option					2
Extension term					6 months
American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Debt Instrument [Line Items]
Description of variable rate basis					LIBOR
American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | Base Rate
Debt Instrument [Line Items]
Description of variable rate basis					base rate
Prime rate					prime rate
Federal funds rate					federal funds rate
Eurodollar rate					Eurodollar
American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | Minimum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate					1.35%
American Assets Trust, L.P. | Unsecured line of credit | Amended and Restated Credit Facility | Maximum | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility
Debt Instrument [Line Items]
Basis spread on variable rate					1.95%
[1]	The Operating Partnership entered into forward-starting interest rate swap contracts on March 29, 2016 and April 7, 2016, which were settled on January 18, 2017 at a gain of approximately $10.4 million. The forward-starting interest swap rate contracts were deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.87% per annum.
[2]	The Operating Partnership entered into a treasury lock contract on April 25, 2017, which was settled on May 11, 2017 at a gain of approximately $0.7 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 4.18% per annum.
[3]	The Operating Partnership entered into a treasury lock contract on May 31, 2017, which was settled on June 23, 2017 at a loss of approximately $0.5 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.85% per annum.

PARTNERS CAPITAL OF AMERICAN 54

PARTNERS CAPITAL OF AMERICAN ASSETS TRUST, L.P. (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating Partnership Units
Capital Unit [Line Items]
Antidilutive securities excluded from computation of EPS (in shares)	231,977	169,963	232,041	171,760
Common Shares
Capital Unit [Line Items]
Conversion of operating partnership units (in shares)			693,842
American Assets Trust, L.P.
Capital Unit [Line Items]
Noncontrolling common units (in shares)	17,194,980		17,194,980
Percentage of ownership interests classified as noncontrolling	26.80%		26.80%
American Assets Trust, L.P. | Operating Partnership Units
Capital Unit [Line Items]
Antidilutive securities excluded from computation of EPS (in shares)	231,977	169,963	232,041	171,760
Limited Partner | American Assets Trust, L.P.
Capital Unit [Line Items]
Common unit conversion ratio			1

EQUITY OF AMERICAN ASSETS TRU55

EQUITY OF AMERICAN ASSETS TRUST, INC. (Details)	May 27, 2015USD ($)Agent	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)shares	Sep. 30, 2017USD ($)shares	Sep. 30, 2016USD ($)shares
Equity [Line Items]
Noncash compensation expense		$ 600,000	$ 600,000	$ 1,900,000	$ 1,900,000
Unrecognized compensation expense		$ 2,000,000		$ 2,000,000
Weighted average unvested shares outstanding (in shares) | shares		231,977	169,963	232,041	171,760
At The Market Equity Program
Equity [Line Items]
Number of sales agents | Agent	5
Aggregate offering price of common share	$ 250,000,000
Remaining capacity to issue		$ 176,200,000		$ 176,200,000
Operating Partnership Units
Equity [Line Items]
Antidilutive securities excluded from computation of EPS (in shares) | shares		231,977	169,963	232,041	171,760

EQUITY OF AMERICAN ASSETS TRU56

EQUITY OF AMERICAN ASSETS TRUST, INC. - ATM Equity Program (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Equity [Line Items]
Proceeds from issuance of common stock	$ 0	$ 30,075	$ 9,665
At The Market Equity Program
Equity [Line Items]
Common shares issued (in shares)	0	700,000
Weighted average price per share		$ 43.46
Proceeds, gross	$ 0	$ 30,425
At The Market Equity Program | Sales agent compensation
Equity [Line Items]
Sales agent compensation and offering costs	0	(304)
At The Market Equity Program | Offering costs
Equity [Line Items]
Sales agent compensation and offering costs	$ 0	$ (46)

EQUITY OF AMERICAN ASSETS TRU57

EQUITY OF AMERICAN ASSETS TRUST, INC. - Dividends Declare and Paid on Shares on Common Stock and Noncontrolling Common Units (Details) - $ / shares	3 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017
Equity [Abstract]
Dividends period	Third Quarter 2017	Second Quarter 2017	First Quarter 2017
Amount per Share/Unit (in USD per unit)	$ 0.26	$ 0.26	$ 0.26
Date dividend to be paid	Sep. 28, 2017	Jun. 29, 2017	Mar. 30, 2017

EQUITY OF AMERICAN ASSETS TRU58

EQUITY OF AMERICAN ASSETS TRUST, INC. - Summary of Activity of Restricted Stock Awards (Details) - Restricted Stock Units (RSUs)	9 Months Ended
	Sep. 30, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Nonvested, Beginning, Shares | shares	232,765
Granted, Shares | shares	4,880
Vested, Shares | shares	(4,900)
Forfeited, Shares | shares	(768)
Nonvested, End of year, shares | shares	231,977
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Nonvested, Beginning, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares	$ 31.24
Granted, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares	40.99
Vested, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares	40.81
Forfeited, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares	30.62
Nonvested, End of Year, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares	$ 31.25

EQUITY OF AMERICAN ASSETS TRU59

EQUITY OF AMERICAN ASSETS TRUST, INC. - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Equity [Abstract]
Net income from operations	$ 12,505	$ 11,858	$ 30,401	$ 33,229
Less: Net income attributable to restricted shares	(60)	(42)	(181)	(128)
Less: Income from operations attributable to unitholders in the Operating Partnership	(3,351)	(3,342)	(8,220)	(9,377)
Net income attributable to common stockholders—basic	9,094	8,474	22,000	23,724
Income from operations attributable to American Assets Trust, Inc. common stockholders—basic	9,094	8,474	22,000	23,724
Plus: Income from operations attributable to unitholders in the Operating Partnership	3,351	3,342	8,220	9,377
Net income attributable to common stockholders-diluted	$ 12,445	$ 11,816	$ 30,220	$ 33,101
Weighted average common shares outstanding-basic (in shares)	46,898,086	45,377,719	46,650,403	45,282,643
Effect of dilutive securities-conversion of Operating Partnership units (in shares)	17,194,980	17,894,983	17,431,294	17,897,994
Weighted average common shares outstanding - diluted (in shares)	64,093,066	63,272,702	64,081,697	63,180,637
Earnings per common share, basic (in USD per share)	$ 0.19	$ 0.19	$ 0.47	$ 0.52
Earnings per common share, diluted (in USD per share)	$ 0.19	$ 0.19	$ 0.47	$ 0.52

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Deferred tax liability	$ 201		$ 201		$ 265
Income tax benefit (expense)	$ (210)	$ (601)	$ 32	$ (643)

COMMITMENTS AND CONTINGENCIES61

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	9 Months Ended
	Sep. 30, 2017USD ($)Extension_OptionPropertymo	Sep. 30, 2016
Commitment And Contingencies [Line Items]
Termination payment | $	$ 7.5
Percentage, partner's common units	50.00%
Number of consolidated properties located in Southern California | Property	13
Maximum percentage of total revenue provided by any single tenant	10.00%	10.00%
Total Revenues | Retail
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by retail tenants	32.70%
Total Revenues | Office
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by retail tenants	33.90%
The Land Mark at One Market
Commitment And Contingencies [Line Items]
Number of lease extension options | Extension_Option	2
Years, lease extension options length (in years)	5 years
Waikiki Beach Walk - Retail
Commitment And Contingencies [Line Items]
Property management fee, percent (in percent)	3.00%
Outrigger Hotels
Commitment And Contingencies [Line Items]
Property management fee, percent (in percent)	6.00%
Number of calendar months termination fee is based	2 months
Maximum percentage of hotel's fiscal year gross revenues paid for aggregate yearly management fee	3.50%
Previous months of management fees	12 months
Hotel management agreement default penalty factor of previous twelve months of management fees in first 11 years of term	8
Years in hotel management agreement term	11 years
Hotel management agreement default penalty factor of previous twelve months of management fees in twelfth year of term	4
Hotel management agreement default penalty factor of previous twelve months of management fees in thirteenth year of term	3
Hotel management agreement default penalty factor of previous twelve months of management fees in fourteenth year of term	2
Hotel management agreement default penalty factor of previous twelve months of management fees in fifteenth year of term	1
Outrigger Hotels | Maximum
Commitment And Contingencies [Line Items]
Property management fee, percent (in percent)	3.00%
Outrigger Hotels | Future Year Period One
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	15 years
Outrigger Hotels | Future Year Period Two
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	14 years
Outrigger Hotels | Future Year Period Three
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	13 years
Outrigger Hotels | Future Year Period Four
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	12 years
Wbw Hotel Lessee Llc
Commitment And Contingencies [Line Items]
Years of contract	20 years
Percentage of hotel occupancy gross revenue paid for program fee	4.00%
Wbw Hotel Lessee Llc | Future Time Period Prior to 12-31-2021
Commitment And Contingencies [Line Items]
Percentage of hotel occupancy gross revenue paid for franchise royalty fee	4.00%
Wbw Hotel Lessee Llc | Future Time Period After 12-31-2021
Commitment And Contingencies [Line Items]
Percentage of hotel occupancy gross revenue paid for franchise royalty fee	5.00%
Del Monte Center | Maximum
Commitment And Contingencies [Line Items]
Years, environmental remediation length	7 years
Del Monte Center | Minimum
Commitment And Contingencies [Line Items]
Years, environmental remediation length	5 years

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Current Minimum Annual Payments under Leases (Details) - USD ($)		Jun. 30, 2021	Sep. 30, 2017
Operating Leased Assets [Line Items]
2017 (three months ending December 31, 2017)			$ 810,000
2,018	[1]		3,274,000
2,019			3,347,000
2,020			3,422,000
2,021			3,460,000
Thereafter	[2]		24,823,000
Total			39,136,000
Waikiki Beach Walk
Operating Leased Assets [Line Items]
Stated future monthly lease rate			$ 70,578
Scenario, Forecast | The Land Mark at One Market
Operating Leased Assets [Line Items]
Stated future monthly lease rate		$ 217,744
[1]	Lease payments on the FHB Sublease are based on the stated lease rate of $70,578 through the end of the lease term, December 31, 2021.
[2]	Lease payments on the Annex Lease will be equal to fair rental value from July 2021 through the end of the options lease term. In the table, we have shown the option lease payments for this period based on the stated rate for the month of June 2021 of $217,744.

OPERATING LEASES (Details)

OPERATING LEASES (Details)	9 Months Ended
	Sep. 30, 2017
Leases [Abstract]
Years, minimum term range of office and retail leases	3 years
Years, maximum term range of office and retail leases	10 years
Months, minimum term of apartment leases	7 months
Months, maximum term of apartment leases	15 months
Operating leases rental period terms	12 months

OPERATING LEASES - Minimum Futu

OPERATING LEASES - Minimum Future Rentals from Noncancelable Operating Leases (Details) $ in Thousands	Sep. 30, 2017USD ($)
Leases [Abstract]
2017 (three months ending December 31, 2017)	$ 43,663
2,018	170,293
2,019	140,849
2,020	117,179
2,021	95,218
Thereafter	255,893
Total	$ 823,095

COMPONENTS OF RENTAL INCOME A65

COMPONENTS OF RENTAL INCOME AND EXPENSE - Component of Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Rental Income [Line Items]
Cost reimbursement	$ 8,838	$ 8,344	$ 24,854	$ 23,832
Percentage rent	700	685	1,611	1,572
Hotel revenue	11,006	11,371	30,216	30,045
Other	433	369	1,222	1,126
Total rental income	78,135	71,852	221,100	207,318
Total Retail
Rental Income [Line Items]
Minimum rents	19,520	18,524	56,598	55,548
Total Office
Rental Income [Line Items]
Minimum rents	23,494	22,458	69,829	67,427
Total Multifamily
Rental Income [Line Items]
Minimum rents	11,473	7,451	28,957	19,806
Total Mixed-Use
Rental Income [Line Items]
Minimum rents	$ 2,671	$ 2,650	$ 7,813	$ 7,962

COMPONENTS OF RENTAL INCOME A66

COMPONENTS OF RENTAL INCOME AND EXPENSE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating Leases, Income Statement, Lease Revenue [Abstract]
Recognition of straight-line rents	$ 0	$ (0.3)	$ (0.3)	$ (0.3)
Recognition of amortization of above and below market leases	$ 0.8	$ 0.9	$ 2.5	$ 2.6

COMPONENTS OF RENTAL INCOME A67

COMPONENTS OF RENTAL INCOME AND EXPENSE - Components of Rental Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Operating Leases, Income Statement, Lease Revenue [Abstract]
Rental operating	$ 8,625	$ 8,404	$ 25,135	$ 23,996
Hotel operating	6,233	6,158	18,530	17,744
Repairs and maintenance	3,202	3,069	8,717	8,506
Marketing	506	432	1,404	1,454
Rent	774	722	2,325	2,190
Hawaii excise tax	1,231	1,255	3,201	3,250
Management fees	606	551	1,565	1,494
Total rental expenses	$ 21,177	$ 20,591	$ 60,877	$ 58,634

OTHER INCOME, NET Components of

OTHER INCOME, NET Components of Other Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Other Income and Expenses [Abstract]
Interest and investment income	$ 111	$ 24	$ 371	$ 63
Income tax benefit (expense)	(210)	(601)	32	(643)
Other non-operating income	0	0	0	126
Total other income (expense), net	$ (99)	$ (577)	$ 403	$ (454)

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Jul. 01, 2017	Jul. 01, 2016
Related Party Transaction [Line Items]
Total rental income	$ 78,135	$ 71,852	$ 221,100	$ 207,318
Investment in WBW CHP LLC (in percent)			47.70%
WBW CHP LLC
Related Party Transaction [Line Items]
Amount recovered for reimbursements of operating expense for related party			$ 800	700
ICW Inc | Board of Directors Chairman
Related Party Transaction [Line Items]
Total rental income				1,600
Prepaid Insurance					$ 200	$ 200
AAI Aviation, Inc. | Board of Directors Chairman
Related Party Transaction [Line Items]
Aviation expense			$ 100	$ 100

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	9 Months Ended
	Sep. 30, 2017SegmentRoom
Segment Reporting [Abstract]
Number of operating segments | Segment	4
Room in mixed-use segment all-suite hotel | Room	369

SEGMENT REPORTING - Operating A

SEGMENT REPORTING - Operating Activity Within Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
OPERATING INCOME	$ 26,477	$ 25,484	$ (4,622)	$ 69,854	$ 72,831
Total Segments' profit	52,627	47,989		148,385	139,446
Total Retail
Segment Reporting Information [Line Items]
Property revenue	26,547	25,064		76,292	74,316
Property expense	(6,934)	(7,159)		(20,419)	(20,203)
OPERATING INCOME	19,613	17,905		55,873	54,113
Total Office
Segment Reporting Information [Line Items]
Property revenue	26,653	25,818		79,002	76,416
Property expense	(7,874)	(8,146)		(23,720)	(23,395)
OPERATING INCOME	18,779	17,672		55,282	53,021
Total Multifamily
Segment Reporting Information [Line Items]
Property revenue	12,410	8,053		31,324	21,407
Property expense	(5,281)	(3,288)		(12,574)	(8,960)
OPERATING INCOME	7,129	4,765		18,750	12,447
Total Mixed-Use
Segment Reporting Information [Line Items]
Property revenue	16,729	17,041		46,619	46,387
Property expense	(9,623)	(9,394)		(28,139)	(26,522)
OPERATING INCOME	$ 7,106	$ 7,647		$ 18,480	$ 19,865

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of Segment Profit to Net Income Attributable to Stockholders (Details) - USD ($) $ in Thousands	3 Months Ended		5 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting [Abstract]
Total Segments' profit	$ 52,627	$ 47,989		$ 148,385	$ 139,446
General and administrative	(4,958)	(4,513)		(15,171)	(13,456)
Depreciation and amortization	(21,192)	(17,992)		(63,360)	(53,159)
Interest expense	13,873	13,049		39,856	39,148
Other (expense) income, net	(99)	(577)		403	(454)
NET INCOME	12,505	11,858	$ (4,622)	30,401	33,229
Net income attributable to restricted shares	(60)	(42)		(181)	(128)
Net income attributable to unitholders in the Operating Partnership	3,351	3,342		8,220	9,377
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS	$ 9,094	$ 8,474		$ 22,000	$ 23,724

SEGMENT REPORTING - Net Real Es

SEGMENT REPORTING - Net Real Estate and Secured Note Payable Balances (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net Real Estate		$ 2,081,846	$ 1,831,546
Secured Notes Payable	[1]	280,247	447,028
American Assets Trust, L.P.
Segment Reporting Information [Line Items]
Net Real Estate		2,081,846	1,831,546
Secured notes payable, net | American Assets Trust, L.P.
Segment Reporting Information [Line Items]
Unamortized fair value adjustment and debt issuance costs		400	1,800
Total Retail
Segment Reporting Information [Line Items]
Net Real Estate		662,820	629,261
Secured Notes Payable	[1]	35,914	36,424
Total Office
Segment Reporting Information [Line Items]
Net Real Estate		811,193	813,414
Secured Notes Payable	[1]	170,589	206,550
Total Multifamily
Segment Reporting Information [Line Items]
Net Real Estate		425,771	203,014
Secured Notes Payable	[1]	73,744	73,744
Total Mixed-Use
Segment Reporting Information [Line Items]
Net Real Estate		182,062	185,857
Secured Notes Payable	[1]	$ 0	$ 130,310
[1]	Excludes unamortized fair market value adjustments and debt issuance costs of $0.4 million and $1.8 million as of September 30, 2017 and December 31, 2016, respectively.

SEGMENT REPORTING - Capital Exp

SEGMENT REPORTING - Capital Expenditures (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Capital expenditures	[1]	$ 16,522	$ 14,153	$ 38,499	$ 47,391
Retail
Segment Reporting Information [Line Items]
Capital expenditures	[1]	3,803	2,203	7,849	11,867
Office
Segment Reporting Information [Line Items]
Capital expenditures	[1]	10,555	11,637	25,715	33,276
Multifamily
Segment Reporting Information [Line Items]
Capital expenditures	[1],[2]	1,953	213	4,521	2,032
Mixed-Use
Segment Reporting Information [Line Items]
Capital expenditures	[1]	$ 211	$ 100	$ 414	$ 216
[1]	Capital expenditures represent cash paid for capital expenditures during the period and include leasing commissions paid
[2]	d