American Assets Trust (AAT) 10-K 10 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 10, 2023	Jun. 30, 2022
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity Registrant Name	AMERICAN ASSETS TRUST, INC.
Entity File Number	001-35030
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-3338708
Entity Address, Address Line One	3420 Carmel Mountain Road
Entity Address, Address Line Two	Suite 100
Entity Address, City or Town	San Diego
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92121
City Area Code	858
Local Phone Number	350-2600
Title of 12(b) Security	Common Stock, $.01 par value per share
Trading Symbol	AAT
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 1,560,000,000
Entity Common Stock, Shares Outstanding		60,717,835
Documents Incorporated by Reference	Portions of American Assets Trust, Inc.'s Proxy Statement with respect to its 2023 Annual Meeting of Stockholders to be filed not later than 120 days after the end of its fiscal year are incorporated by reference into Part III hereof.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001500217
American Assets Trust, L.P.
Document Information [Line Items]
Document Type	10-K
Entity Registrant Name	AMERICAN ASSETS TRUST, L.P.
Entity File Number	33-202342-01
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	27-3338894
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		0
Amendment Flag	false
Entity Central Index Key	0001509570

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Auditor [Line Items]
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	San Diego, California
American Assets Trust, L.P.
Auditor [Line Items]
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	San Diego, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Real estate, at cost
Operating real estate	$ 3,468,537	$ 3,389,726
Construction in progress	202,385	139,098
Held for development	547	547
Total Real estate, at cost	3,671,469	3,529,371
Accumulated depreciation	(936,913)	(847,390)
Net real estate	2,734,556	2,681,981
Cash and cash equivalents	49,571	139,524
Accounts receivable, net	7,848	7,445
Deferred rent receivables, net	87,192	82,724
Other assets, net	108,714	106,253
TOTAL ASSETS	2,987,881	3,017,927
LIABILITIES:
Secured notes payable, net	74,578	110,965
Unsecured notes payable, net	1,539,453	1,538,238
Unsecured line of credit, net	34,057	0
Accounts payable and accrued expenses	65,992	64,531
Security deposits payable	8,699	7,855
Other liabilities and deferred credits	79,577	86,215
Total liabilities	1,802,356	1,807,804
Commitments and contingencies (Note 12)
American Assets Trust, Inc. stockholders' equity
Common stock, $0.01 par value, 490,000,000 shares authorized, 60,718,653 and 60,525,580 shares issued and outstanding at December 31, 2022 and December 31, 2021, respectively	607	605
Additional paid-in capital	1,461,201	1,453,272
Accumulated dividends in excess of net income	(251,167)	(217,785)
Accumulated other comprehensive income	10,624	2,872
Total American Assets Trust, Inc. stockholders' equity	1,221,265	1,238,964
Noncontrolling interests	(35,740)	(28,841)
Total equity	1,185,525	1,210,123
TOTAL LIABILITIES AND EQUITY	$ 2,987,881	$ 3,017,927

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	490,000,000	490,000,000
Common stock, shares issued (in shares)	60,718,653	60,525,580
Common stock, shares outstanding (in shares)	60,718,653	60,525,580

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
REVENUE:
Rental income	$ 402,507	$ 360,208	$ 330,312
Other property income	20,141	15,620	14,261
Total revenue	422,648	375,828	344,573
EXPENSES:
Rental expenses	107,645	86,980	79,178
Real estate taxes	44,788	42,794	41,941
General and administrative	32,143	29,879	26,581
Depreciation and amortization	123,338	116,306	108,292
Total operating expenses	307,914	275,959	255,992
OPERATING INCOME	114,734	99,869	88,581
Interest expense, net	(58,232)	(58,587)	(53,440)
Loss on early extinguishment of debt	0	(4,271)	0
Other (expense) income, net	(625)	(418)	447
Net income	55,877	36,593	35,588
Net income attributable to restricted shares	(648)	(564)	(383)
Net income attributable to unitholders in the Operating Partnership	(11,723)	(7,653)	(7,545)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS	$ 43,506	$ 28,376	$ 27,660
EARNINGS PER COMMON SHARE, BASIC
Basic income attributable to common stockholders per share (in USD per share)	$ 0.72	$ 0.47	$ 0.46
Weighted average shares of common stock outstanding-basic (in shares)	60,048,970	59,990,740	59,806,309
EARNINGS PER COMMON SHARE, DILUTED
Diluted income attributable to common stockholders per share (in USD per share)	$ 0.72	$ 0.47	$ 0.46
Weighted average shares of common stock outstanding-diluted (in shares)	76,230,507	76,172,277	76,119,763
COMPREHENSIVE INCOME
Net income	$ 55,877	$ 36,593	$ 35,588
Other comprehensive gain (loss) - unrealized gain (loss) on swap derivatives during the period	11,319	2,723	(3,649)
Comprehensive income	65,719	38,025	30,609
Comprehensive income attributable to noncontrolling interest	(13,813)	(7,966)	(6,496)
Comprehensive income attributable to American Assets Trust, Inc.	51,906	30,059	24,113
Interest Expense
COMPREHENSIVE INCOME
Reclassification of amortization of forward-starting swap	(1,477)	(1,098)	(1,330)
Early Extinguishment of Debt
COMPREHENSIVE INCOME
Reclassification of amortization of forward-starting swap	$ 0	$ (193)	$ 0

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Thousands	Total	Swap	Interest Expense	Gain (loss) on extinguishment of debt	Common Shares	Additional Paid-in Capital	Accumulated Dividends in Excess of Net Income	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Swap	Accumulated Other Comprehensive Income (Loss) Interest Expense	Accumulated Other Comprehensive Income (Loss) Gain (loss) on extinguishment of debt	Noncontrolling Interests - Unitholders in the Operating Partnership	Noncontrolling Interests - Unitholders in the Operating Partnership Swap	Noncontrolling Interests - Unitholders in the Operating Partnership Interest Expense	Noncontrolling Interests - Unitholders in the Operating Partnership Gain (loss) on extinguishment of debt
Beginning Balance (shares) at Dec. 31, 2019					60,068,228
Beginning balance at Dec. 31, 2019	$ 1,293,672				$ 601	$ 1,452,014	$ (144,378)	$ 5,680				$ (20,245)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	35,588						28,043					7,545
Issuance of restricted stock (in shares)					317,574
Issuance of restricted stock	0				$ 3	(3)
Forfeiture of restricted stock (in shares)					(95,086)
Forfeiture of restricted stock	0				$ (1)	1
Conversion of operating partnership units (in shares)					209,011
Conversion of operating partnership units	0				$ 2	(12,003)		3				11,998
Dividends declared and paid	(76,510)						(60,225)					(16,285)
Stock-based compensation	6,307					6,307
Shares withheld for employee taxes (in shares)					(23,435)
Shares withheld for employee taxes	(672)				$ 0	(672)
Other comprehensive income (loss) - change in value of interest rate swaps	(3,649)	$ (3,649)							$ (2,885)				$ (764)
Reclassification of amortization of forward-starting swap			$ (1,330)							$ (1,045)				$ (285)
Ending Balance (shares) at Dec. 31, 2020					60,476,292
Ending balance at Dec. 31, 2020	1,253,406				$ 605	1,445,644	(176,560)	1,753				(18,036)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	36,593						28,940					7,653
Issuance of restricted stock (in shares)					229,819
Issuance of restricted stock	0				$ 2	(2)
Forfeiture of restricted stock (in shares)					(155,390)
Forfeiture of restricted stock	0				$ (2)	2
Dividends declared and paid	(88,936)						(70,165)					(18,771)
Stock-based compensation	8,493					8,493
Shares withheld for employee taxes (in shares)					(25,141)
Shares withheld for employee taxes	(865)					(865)
Other comprehensive income (loss) - change in value of interest rate swaps	$ 2,723	2,723							2,135				588
Reclassification of amortization of forward-starting swap			(1,098)	$ (193)						(864)	$ (152)			(234)	$ (41)
Ending Balance (shares) at Dec. 31, 2021	60,525,580				60,525,580
Ending balance at Dec. 31, 2021	$ 1,210,123				$ 605	1,453,272	(217,785)	2,872				(28,841)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	55,877						44,154					11,723
Issuance of restricted stock (in shares)					325,682
Issuance of restricted stock	0				$ 3	(3)
Forfeiture of restricted stock (in shares)					(106,796)
Forfeiture of restricted stock	0				$ (1)	1
Dividends declared and paid	(98,248)						(77,536)					(20,712)
Stock-based compensation	8,690					8,690
Shares withheld for employee taxes (in shares)					(25,813)
Shares withheld for employee taxes	(759)				$ 0	(759)
Other comprehensive income (loss) - change in value of interest rate swaps	$ 11,319	$ 11,319							$ 8,916				$ 2,403
Reclassification of amortization of forward-starting swap			$ (1,477)							$ (1,164)				$ (313)
Ending Balance (shares) at Dec. 31, 2022	60,718,653				60,718,653
Ending balance at Dec. 31, 2022	$ 1,185,525				$ 607	$ 1,461,201	$ (251,167)	$ 10,624				$ (35,740)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
OPERATING ACTIVITIES
Net income	$ 55,877	$ 36,593	$ 35,588
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred rent revenue and amortization of lease intangibles	(11,489)	(17,634)	(31,242)
Depreciation and amortization	123,338	116,306	108,292
Amortization of debt issuance costs and debt fair value adjustments	2,581	2,753	1,477
Provision for uncollectable rental income	2,334	(2,289)	18,427
Early extinguishment of debt	0	4,271	0
Stock-based compensation expense	8,690	8,493	6,307
Other noncash interest expense	(1,477)	(1,098)	(1,330)
Other, net	(252)	1,314	(695)
Changes in operating assets and liabilities
Change in accounts receivable	(404)	2,273	(4,940)
Change in other assets	(723)	109	141
Change in accounts payable and accrued expenses	(1,237)	15,331	(2,108)
Change in security deposits payable	655	443	(1,726)
Change in other liabilities and deferred credits	1,179	1,464	(1,206)
Net cash provided by operating activities	179,072	168,329	126,985
INVESTING ACTIVITIES
Acquisition of real estate, net	(45,166)	(204,511)	0
Capital expenditures	(113,781)	(104,588)	(63,488)
Leasing commissions	(7,374)	(3,142)	(5,589)
Purchase of marketable securities	0	(47,760)	0
Sale of marketable securities	0	47,723	0
Net cash used in investing activities	(166,321)	(312,278)	(69,077)
FINANCING ACTIVITIES
Issuance of secured notes payable	75,000	0	0
Repayment of secured notes payable	(111,000)	0	(51,003)
Proceeds from unsecured line of credit	36,000	0	100,000
Repayment of unsecured line of credit	0	(100,000)	0
Repayment of unsecured notes payable	0	(155,375)	0
Proceeds from issuance of unsecured notes payable	0	494,675	0
Debt issuance costs	(3,697)	(5,075)	(125)
Dividends paid to common stock and unitholders	(98,248)	(88,936)	(76,510)
Shares withheld for employee taxes	(759)	(865)	(672)
Net cash (used in) provided by financing activities	(102,704)	144,424	(28,310)
Net (decrease) increase in cash, cash equivalents and restricted cash	(89,953)	475	29,598
Cash, cash equivalents and restricted cash, beginning of year	139,524	139,049	109,451
Cash, cash equivalents and restricted cash, end of year	49,571	139,524	139,049
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	49,571	139,524	137,333
Restricted cash	0	0	1,716
Total cash, cash equivalents and restricted cash shown in Statement of Cash Flows	$ 49,571	$ 139,524	$ 139,049

Consolidated Balance Sheets - L

Consolidated Balance Sheets - LP - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Real estate, at cost
Operating real estate	$ 3,468,537	$ 3,389,726
Construction in progress	202,385	139,098
Held for development	547	547
Real estate, at cost	3,671,469	3,529,371
Accumulated depreciation	(936,913)	(847,390)
Net real estate	2,734,556	2,681,981
Cash and cash equivalents	49,571	139,524
Accounts receivable, net	7,848	7,445
Deferred rent receivables, net	87,192	82,724
Other assets, net	108,714	106,253
Assets acquired	2,987,881	3,017,927
LIABILITIES:
Secured notes payable, net	74,578	110,965
Unsecured notes payable, net	1,539,453	1,538,238
Unsecured line of credit, net	34,057	0
Accounts payable and accrued expenses	65,992	64,531
Security deposits payable	8,699	7,855
Other liabilities and deferred credits	79,577	86,215
Liabilities assumed	1,802,356	1,807,804
Commitments and contingencies (Note 12)
Partners' Capital [Abstract]
Accumulated other comprehensive income	10,624	2,872
TOTAL LIABILITIES AND EQUITY	2,987,881	3,017,927
American Assets Trust, L.P.
Real estate, at cost
Operating real estate	3,468,537	3,389,726
Construction in progress	202,385	139,098
Held for development	547	547
Real estate, at cost	3,671,469	3,529,371
Accumulated depreciation	(936,913)	(847,390)
Net real estate	2,734,556	2,681,981
Cash and cash equivalents	49,571	139,524
Accounts receivable, net	7,848	7,445
Deferred rent receivables, net	87,192	82,724
Other assets, net	108,714	106,253
Assets acquired	2,987,881	3,017,927
LIABILITIES:
Secured notes payable, net	74,578	110,965
Unsecured notes payable, net	1,539,453	1,538,238
Unsecured line of credit, net	34,057	0
Accounts payable and accrued expenses	65,992	64,531
Security deposits payable	8,699	7,855
Other liabilities and deferred credits	79,577	86,215
Liabilities assumed	1,802,356	1,807,804
Commitments and contingencies (Note 12)
Partners' Capital [Abstract]
Limited partners' capital, 16,181,537 and 16,181,537 units issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	(39,127)	(30,138)
General partner's capital, 60,718,653 and 60,525,580 units issued and outstanding as of December 31, 2022 and December 31, 2021, respectively	1,210,641	1,236,092
Accumulated other comprehensive income	14,011	4,169
Total capital	1,185,525	1,210,123
TOTAL LIABILITIES AND EQUITY	$ 2,987,881	$ 3,017,927

Consolidated Balance Sheets -_2

Consolidated Balance Sheets - LP (Parenthetical) - American Assets Trust, L.P. - shares	Dec. 31, 2022	Dec. 31, 2021
Limited partners' capital, units outstanding (in shares)	16,181,537	16,181,537
Limited partners' capital, units issued (in shares)	16,181,537	16,181,537
General partners' capital, units issued (in shares)	60,718,653	60,525,580
General partners' capital, units outstanding (in shares)	60,718,653	60,525,580

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income - LP - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
REVENUE:
Rental income		$ 402,507	$ 360,208	$ 330,312
Other property income		20,141	15,620	14,261
Total revenue		422,648	375,828	344,573
EXPENSES:
Rental expenses		107,645	86,980	79,178
Real estate taxes		44,788	42,794	41,941
General and administrative		32,143	29,879	26,581
Depreciation and amortization		123,338	116,306	108,292
Total operating expenses		307,914	275,959	255,992
Operating income (loss)		114,734	99,869	88,581
Interest expense, net		(58,232)	(58,587)	(53,440)
Loss on early extinguishment of debt		0	(4,271)	0
Other (expense) income, net		(625)	(418)	447
Net income		55,877	36,593	35,588
Net income attributable to restricted shares		(648)	(564)	(383)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS		$ 43,506	$ 28,376	$ 27,660
EARNINGS PER COMMON SHARE, BASIC
Earnings per unit, basic (in USD per share)		$ 0.72	$ 0.47	$ 0.46
Weighted average units outstanding - basic (in shares)		60,048,970	59,990,740	59,806,309
EARNINGS PER COMMON SHARE, DILUTED
Earnings per unit, diluted (in USD per share)		$ 0.72	$ 0.47	$ 0.46
Weighted average units outstanding - diluted (in shares)		76,230,507	76,172,277	76,119,763
COMPREHENSIVE INCOME
Net income		$ 55,877	$ 36,593	$ 35,588
Other comprehensive gain (loss) - unrealized gain (loss) on swap derivatives during the period		11,319	2,723	(3,649)
Comprehensive income		65,719	38,025	30,609
Comprehensive income attributable to American Assets Trust, Inc.		51,906	30,059	24,113
Interest Expense
COMPREHENSIVE INCOME
Reclassification of amortization of forward-starting swap		(1,477)	(1,098)	(1,330)
Early Extinguishment of Debt
COMPREHENSIVE INCOME
Reclassification of amortization of forward-starting swap		0	(193)	0
American Assets Trust, L.P.
REVENUE:
Rental income		402,507	360,208	330,312
Other property income		20,141	15,620	14,261
Total revenue		422,648	375,828	344,573
EXPENSES:
Rental expenses		107,645	86,980	79,178
Real estate taxes		44,788	42,794	41,941
General and administrative		32,143	29,879	26,581
Depreciation and amortization		123,338	116,306	108,292
Total operating expenses		307,914	275,959	255,992
Operating income (loss)		114,734	99,869	88,581
Interest expense, net		(58,232)	(58,587)	(53,440)
Loss on early extinguishment of debt		0	(4,271)	0
Other (expense) income, net		(625)	(418)	447
Net income		55,877	36,593	35,588
Net income attributable to restricted shares		(648)	(564)	(383)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS		$ 55,229	$ 36,029	$ 35,205
EARNINGS PER COMMON SHARE, BASIC
Earnings per unit, basic (in USD per share)		$ 0.72	$ 0.47	$ 0.46
Weighted average units outstanding - basic (in shares)		76,230,507	76,172,277	76,119,763
EARNINGS PER COMMON SHARE, DILUTED
Earnings per unit, diluted (in USD per share)		$ 0.72	$ 0.47	$ 0.46
Weighted average units outstanding - diluted (in shares)		76,230,507	76,172,277	76,119,763
DISTRIBUTIONS PER UNIT (in dollars per share)		$ 1.28	$ 1.16	$ 1
COMPREHENSIVE INCOME
Net income		$ 55,877	$ 36,593	$ 35,588
Other comprehensive gain (loss) - unrealized gain (loss) on swap derivatives during the period		11,319	2,723	(3,649)
Comprehensive income		65,719	38,025	30,609
American Assets Trust, L.P. | Interest Expense
COMPREHENSIVE INCOME
Reclassification of amortization of forward-starting swap		(1,477)	(1,098)	(1,330)
American Assets Trust, L.P. | Early Extinguishment of Debt
COMPREHENSIVE INCOME
Reclassification of amortization of forward-starting swap		0	(193)	0
Limited Partner | American Assets Trust, L.P.
EXPENSES:
Net income	[1]	11,723	7,653	7,545
COMPREHENSIVE INCOME
Net income	[1]	11,723	7,653	7,545
Comprehensive income attributable to American Assets Trust, Inc.		(13,813)	(7,966)	(6,496)
General Partner | American Assets Trust, L.P.
EXPENSES:
Net income	[2]	44,154	28,940	28,043
COMPREHENSIVE INCOME
Net income	[2]	44,154	28,940	28,043
Comprehensive income attributable to American Assets Trust, Inc.		$ 51,906	$ 30,059	$ 24,113
[1]Consists of limited partnership interests held by third parties.[2]Consists of general and limited partnership interests held by American Assets Trust, Inc.

Consolidated Statement of Partn

Consolidated Statement of Partners' Capital - LP - USD ($) $ in Thousands		Total	Swap	Interest Expense	Gain (loss) on extinguishment of debt	American Assets Trust, L.P.	American Assets Trust, L.P. Swap	American Assets Trust, L.P. Forward Contracts	American Assets Trust, L.P. Interest Expense	American Assets Trust, L.P. Gain (loss) on extinguishment of debt	American Assets Trust, L.P. Accumulated Other Comprehensive Income (Loss)	American Assets Trust, L.P. Accumulated Other Comprehensive Income (Loss) Swap	American Assets Trust, L.P. Accumulated Other Comprehensive Income (Loss) Forward Contracts	American Assets Trust, L.P. Accumulated Other Comprehensive Income (Loss) Interest Expense	American Assets Trust, L.P. Accumulated Other Comprehensive Income (Loss) Gain (loss) on extinguishment of debt	American Assets Trust, L.P. Limited Partner	[1]	American Assets Trust, L.P. General Partner
Beginning balance (in shares) at Dec. 31, 2019																16,390,548		60,068,228	[2]
Beginning balance at Dec. 31, 2019						$ 1,293,672					$ 7,716					$ (22,281)		$ 1,308,237	[2]
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income		$ 35,588				35,588										$ 7,545		$ 28,043	[2]
Conversion of operating partnership units (in shares)																(209,011)		209,011	[2]
Conversion of operating partnership units						0										$ 12,001		$ (12,001)	[2]
Issuance of restricted stock (in shares)	[2]																	317,574
Forfeiture of restricted units (in shares)	[2]																	(95,086)
Distributions						(76,510)										$ (16,285)		$ (60,225)	[2]
Stock-based compensation						6,307												$ 6,307	[2]
Units withheld for employee taxes (in shares)	[2]																	(23,435)
Units withheld for employee taxes		(672)				(672)												$ (672)	[2]
Other comprehensive gain (loss) - unrealized gain (loss) on swap derivatives during the period		(3,649)	$ (3,649)			(3,649)	$ (3,649)					$ (3,649)
Reclassification of amortization of forward-starting swap				$ (1,330)					$ (1,330)					$ (1,330)
Ending balance (in shares) at Dec. 31, 2020																16,181,537		60,476,292	[2]
Ending balance at Dec. 31, 2020						1,253,406					2,737					$ (19,020)		$ 1,269,689	[2]
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income		36,593				36,593										7,653		$ 28,940	[2]
Issuance of restricted stock (in shares)	[2]																	229,819
Forfeiture of restricted units (in shares)	[2]																	(155,390)
Distributions						(88,936)										$ (18,771)		$ (70,165)	[2]
Stock-based compensation						8,493												$ 8,493	[2]
Units withheld for employee taxes (in shares)	[2]																	(25,141)
Units withheld for employee taxes		(865)				(865)												$ (865)	[2]
Other comprehensive gain (loss) - unrealized gain (loss) on swap derivatives during the period		2,723	2,723			2,723	2,723	$ (1,098)				2,723	$ (1,098)
Reclassification of amortization of forward-starting swap				(1,098)	$ (193)				(1,098)	$ (193)					$ (193)
Ending balance (in shares) at Dec. 31, 2021																16,181,537		60,525,580	[2]
Ending balance at Dec. 31, 2021						1,210,123					4,169					$ (30,138)		$ 1,236,092	[2]
Increase (Decrease) in Partners' Capital [Roll Forward]
Net income		55,877				55,877										11,723		$ 44,154	[2]
Issuance of restricted stock (in shares)	[2]																	325,682
Forfeiture of restricted units (in shares)	[2]																	(106,796)
Distributions						(98,248)										$ (20,712)		$ (77,536)	[2]
Stock-based compensation						8,690												$ 8,690	[2]
Units withheld for employee taxes (in shares)	[2]																	(25,813)
Units withheld for employee taxes		(759)				(759)												$ (759)	[2]
Other comprehensive gain (loss) - unrealized gain (loss) on swap derivatives during the period		$ 11,319	$ 11,319			11,319	$ 11,319					$ 11,319
Reclassification of amortization of forward-starting swap				$ (1,477)					$ (1,477)					$ (1,477)
Ending balance (in shares) at Dec. 31, 2022																16,181,537		60,718,653	[2]
Ending balance at Dec. 31, 2022						$ 1,185,525					$ 14,011					$ (39,127)		$ 1,210,641	[2]
[1]Consists of limited partnership interests held by third parties.[2]Consists of general and limited partnership interests held by American Assets Trust, Inc.

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows - LP $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
OPERATING ACTIVITIES
Net income	$ 55,877	$ 36,593	$ 35,588
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred rent revenue and amortization of lease intangibles	(11,489)	(17,634)	(31,242)
Depreciation and amortization	123,338	116,306	108,292
Amortization of debt issuance costs and debt fair value adjustments	2,581	2,753	1,477
Provision for uncollectable rental income	2,334	(2,289)	18,427
Early extinguishment of debt	0	4,271	0
Stock-based compensation expense	8,690	8,493	6,307
Other noncash interest expense	(1,477)	(1,098)	(1,330)
Other, net	(252)	1,314	(695)
Changes in operating assets and liabilities
Change in accounts receivable and deferred rent receivables	(404)	2,273	(4,940)
Change in other assets	(723)	109	141
Change in accounts payable and accrued expenses	(1,237)	15,331	(2,108)
Change in security deposits payable	655	443	(1,726)
Change in other liabilities and deferred credits	1,179	1,464	(1,206)
Net cash provided by operating activities	179,072	168,329	126,985
INVESTING ACTIVITIES
Acquisition of real estate, net	(45,166)	(204,511)	0
Capital expenditures	(113,781)	(104,588)	(63,488)
Leasing commissions	(7,374)	(3,142)	(5,589)
Purchase of marketable securities	0	(47,760)	0
Sale of marketable securities	0	47,723	0
Net cash used in investing activities	(166,321)	(312,278)	(69,077)
FINANCING ACTIVITIES
Issuance of secured notes payable	75,000	0	0
Repayment of secured notes payable	(111,000)	0	(51,003)
Proceeds from unsecured line of credit	36,000	0	100,000
Repayment of unsecured line of credit	0	(100,000)	0
Repayment of unsecured notes payable	0	(155,375)	0
Proceeds from issuance of unsecured notes payable	0	494,675	0
Debt issuance costs	(3,697)	(5,075)	(125)
Distributions	(98,248)	(88,936)	(76,510)
Shares withheld for employee taxes	(759)	(865)	(672)
Net cash (used in) provided by financing activities	(102,704)	144,424	(28,310)
Net (decrease) increase in cash, cash equivalents and restricted cash	(89,953)	475	29,598
Cash, cash equivalents and restricted cash, beginning of year	139,524	139,049	109,451
Cash, cash equivalents and restricted cash, end of year	49,571	139,524	139,049
Cash and cash equivalents	49,571	139,524	137,333
Restricted cash	0	0	1,716
Total cash, cash equivalents and restricted cash shown in Statement of Cash Flows	49,571	139,524	139,049
American Assets Trust, L.P.
OPERATING ACTIVITIES
Net income	55,877	36,593	35,588
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred rent revenue and amortization of lease intangibles	(11,489)	(17,634)	(31,242)
Depreciation and amortization	123,338	116,306	108,292
Amortization of debt issuance costs and debt fair value adjustments	2,581	2,753	1,477
Provision for uncollectable rental income	2,334	(2,289)	18,427
Early extinguishment of debt	0	4,271	0
Stock-based compensation expense	8,690	8,493	6,307
Other noncash interest expense	(1,477)	(1,098)	(1,330)
Other, net	(252)	1,314	(695)
Changes in operating assets and liabilities
Change in accounts receivable and deferred rent receivables	(404)	2,273	(4,940)
Change in other assets	(723)	109	141
Change in accounts payable and accrued expenses	(1,237)	15,331	(2,108)
Change in security deposits payable	655	443	(1,726)
Change in other liabilities and deferred credits	1,179	1,464	(1,206)
Net cash provided by operating activities	179,072	168,329	126,985
INVESTING ACTIVITIES
Acquisition of real estate, net	(45,166)	(204,511)	0
Capital expenditures	(113,781)	(104,588)	(63,488)
Leasing commissions	(7,374)	(3,142)	(5,589)
Purchase of marketable securities	0	(47,760)	0
Sale of marketable securities	0	47,723	0
Net cash used in investing activities	(166,321)	(312,278)	(69,077)
FINANCING ACTIVITIES
Issuance of secured notes payable	75,000	0	0
Repayment of secured notes payable	(111,000)	0	(51,003)
Proceeds from unsecured line of credit	36,000	0	100,000
Repayment of unsecured line of credit	0	(100,000)	0
Repayment of unsecured notes payable	0	(155,375)	0
Proceeds from issuance of unsecured notes payable	0	494,675	0
Debt issuance costs	(3,697)	(5,075)	(125)
Distributions	(98,248)	(88,936)	(76,510)
Shares withheld for employee taxes	(759)	(865)	(672)
Net cash (used in) provided by financing activities	(102,704)	144,424	(28,310)
Net (decrease) increase in cash, cash equivalents and restricted cash	(89,953)	475	29,598
Cash, cash equivalents and restricted cash, beginning of year	139,524	139,049	109,451
Cash, cash equivalents and restricted cash, end of year	49,571	139,524	139,049
Cash and cash equivalents	49,571	139,524	137,333
Restricted cash	0	0	1,716
Total cash, cash equivalents and restricted cash shown in Statement of Cash Flows	$ 49,571	$ 139,524	$ 139,049

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2022
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 (the “Offering”) and the related acquisition on January 19, 2011 of certain assets of a combination of entities whose assets included entities owned and/or controlled by Ernest S. Rady and his affiliates, including the Rady Trust, which in turn owned (1) controlling interests in entities owning 17 properties and the property management business of American Assets, Inc. and (2) noncontrolling interests in entities owning four properties. 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 REIT subsidiary. 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 vertically integrated and self-administered REIT with 216 employees providing substantial in-house expertise in asset management, property management, property development, leasing, tenant improvement construction, acquisitions, repositioning, redevelopment and financing. Any reference to the number of properties or units, square footage or acres, employees; or references to beneficial ownership interests, are unaudited and outside the scope of our independent registered public accounting firm's audit of our financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. As of December 31, 2022, we owned or had a controlling interest in 31 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as of December 31, 2022, we owned land at three of our properties that we classify as held for development and 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 La Jolla Commons One Beach Street Corporate Campus East III Torrey Reserve Campus First & Main Bel-Spring 520 Torrey Point Lloyd Portfolio Solana Crossing City Center Bellevue The Landmark at One Market Eastgate Office Park Multifamily Loma Palisades Hassalo on Eighth - Multifamily Imperial Beach Gardens Mariner's Point Santa Fe Park RV Resort Pacific Ridge Apartments Mixed-Use Waikiki Beach Walk Retail and Embassy Suites™ Hotel Held for Development and Construction in Progress La Jolla Commons - Construction in Progress Solana Crossing – Land Lloyd 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. The Company follows the Financial Accounting Standards Board (the "FASB") guidance for determining whether an entity is a variable interest entity (“VIE”) and requires the performance of a qualitative rather than a quantitative analysis to determine the primary beneficiary of a VIE. Under this guidance, an entity would be required to consolidate a VIE if it has (i) the power to direct the activities that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. American Assets Trust, Inc. has concluded that the Operating Partnership is a VIE, and because American Assets Trust, Inc. has both the power and the rights to control the Operating Partnership, American Assets Trust, Inc. is the primary beneficiary and is required to continue to consolidate the Operating Partnership. Substantially all of the assets and liabilities of the Company are related to the operating partnership VIE. All intercompany transactions and balances are eliminated in consolidation. Impact of COVID-19 We are unable to predict the impact that COVID-19 and its variants will have on our financial condition, results of operations and cash flows due to numerous uncertainties. These uncertainties include the scope, severity and duration of the virus, the actions taken to contain it or to mitigate its impact, and the direct and indirect economic effects of the virus and containment measures, among others. The outbreak of COVID-19 in many countries, including the United States, has significantly adversely impacted global economic activity and has contributed to significant volatility and negative pressure in financial markets. The Company cannot predict if previously placed governmental restrictions or social distancing measures will be reinstated in the future or if more restrictive measures will be imposed. Further, the willingness of customers to visit certain of out tenants' businesses may be reduced due to concerns regarding the continued risk of COVID-19 transmission and heightened sensitivity to risks associated with the transmission of other diseases. As a result, COVID-19 is negatively impacting almost every industry directly or indirectly, including industries in which the Company and our tenants operate. Further, the impacts of a potential worsening of global economic conditions and the continued disruptions to, and volatility in, the credit and financial markets, consumer spending as well as other unanticipated consequences remain unknown. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” requires management 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 management's best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates. Consolidated Statements of Cash Flows-Supplemental Disclosures The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands): Year Ended December 31, 2022 2021 2020 Supplemental cash flow information Total interest costs incurred $ 63,997 $ 61,578 $ 54,510 Interest capitalized $ 5,765 $ 2,991 $ 1,070 Interest expense, net $ 58,232 $ 58,587 $ 53,440 Cash paid for interest, net of amounts capitalized $ 56,060 $ 50,970 $ 53,467 Cash paid for income taxes $ 865 $ 356 $ 844 Supplemental schedule of noncash investing and financing activities Accounts payable and accrued liabilities for construction in progress $ 20,832 $ 18,697 $ 22,884 Accrued leasing commissions $ 2,442 $ 2,628 $ 555 Revenue Recognition and Accounts Receivable Our leases with tenants are classified as operating leases. Substantially all such leases contain fixed rent escalations which occur at specified times during the term of the lease. Base rents are recognized on a straight-line basis from when the tenant controls the space through the term of the related lease, based on management's assessment of credit, collection and other business risks. When we determine that we are the owner of tenant improvements and the tenant has reimbursed us for a portion or all of the tenant improvement costs, we consider the amount paid to be additional rent, which is recognized on a straight-line basis over the term of the related lease. For first generation tenants, in instances in which we fund tenant improvements and the improvements are deemed to be owned by us, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When we determine that the tenant is the owner of tenant improvements, tenant allowances are recorded as lease incentives and we commence revenue recognition and lease incentive amortization when possession or control of the space is turned over to the tenant for tenant work to begin. Percentage rents, which represent additional rents based upon the level of sales achieved by certain tenants, are recognized at the end of the lease year or earlier if we have determined the required sales level is achieved and the percentage rents are collectible. Real estate tax and other cost reimbursements are recognized on an accrual basis over the periods in which the related expenditures are incurred. Other property income includes parking income, general excise tax billed to tenants and fees charged to tenants at our multifamily properties. Other property income is recognized when we satisfy performance obligations as evidenced by the transfer of control of our services to customers. We measure other property income based on the amount of consideration we expect to be entitled to in exchange for the services provided. We recognize general excise tax gross, with the amounts billed to tenants and customers recorded in other property income and the related taxes paid as rental expense. The general excise tax included in other income was $3.4 million, $2.5 million and $2.3 million for the years ended December 31, 2022, 2021 and 2020, respectively. For a tenant to terminate its lease agreement prior to the end of the agreed term, we may require that they pay a fee to cancel the lease agreement. Lease termination fees for which the tenant has relinquished control of the space are generally recognized on the later of the termination date or the satisfaction of all conditions precedent to the lease termination, including, without limitation, payment of all lease termination fees. When a lease is terminated early but the tenant continues to control the space under a modified lease agreement, the lease termination fee is generally recognized evenly over the remaining term of the modified lease agreement. Current accounts receivable from tenants primarily relate to contractual minimum rent and percentage rent as well as real estate tax and other cost reimbursements. Accounts receivable from straight-line rent is typically longer term in nature and relates to the cumulative amount by which straight-line rental income recorded to date exceeds cash rents billed to date under the contractual lease agreement. We recognize revenue on the hotel portion of our mixed-use property from the rental of hotel rooms and guest services when we satisfy performance obligations as evidenced by the transfer of control when the rooms are occupied and services have been provided. Food and beverage sales are recognized when the customer has been served or at the time the transaction occurs. Revenue from room rental is included in rental revenue on the statement of comprehensive income. Revenue from other sales and services provided is included in other property income on the statement of comprehensive income. We make estimates of the collectability of our current accounts receivable and straight-line rents receivable which requires significant judgment by management. The collectability of receivables is affected by numerous different factors including current economic trends, including the impact of the COVID-19 on tenant's businesses and changes in tenants' payment patterns, tenant bankruptcies, the status of collectability of current cash rents receivable, tenants' recent and historical financial and operating results, changes in our tenants' credit ratings, communications between our operating personnel and tenants, the extent of security deposits and letters of credits held with respect to tenants, and the ability of the tenant to perform under the terms of their lease agreement when evaluating the adequacy of the allowance for doubtful accounts. If our assessment of these factors indicates that it is no longer probable that we will be able to collect substantially all rents, we recognize a charge to rental income and limit our rental income to the lesser of lease income on a straight-line basis plus variable rents when they become accruable or cash collected. If we change our conclusion regarding the probability of collecting rent payments required by a lessee, we may recognize an adjustment to rental income in the period we make a change to our prior conclusion. At December 31, 2022 and December 31, 2021, our allowance for doubtful accounts was $2.1 million and $4.6 million, respectively. Total collectability related adjustments for rental income, which includes the allowance for doubtful accounts and deferred rent receivables, was $2.3 million, $2.3 million and $18.4 million for the years ended December 31, 2022, 2021 and 2020, respectively. Due to the impacts of COVID-19, in 2020 through 2022 we provided lease concessions to certain tenants, primarily within the retail segment, in the form of rent deferrals and abatements. We assess each lease concession and determine whether it represents a lease modifications under Accounting Standards Codification Topic 842, Leases ("ASC 842"). The Company has elected to account for such COVID-19-related concessions as lease modifications. Real Estate Land, buildings and improvements are recorded at cost. Depreciation is computed using the straight-line method. Estimated useful lives range generally from 30 years to a maximum of 40 years on buildings and major improvements. Minor improvements, furniture and equipment are capitalized and depreciated over useful lives ranging from 3 years to 15 years. Maintenance and repairs that do not improve or extend the useful lives of the related assets are charged to operations as incurred. Tenant improvements are capitalized and depreciated over the life of the related lease or their estimated useful life, whichever is shorter. If a tenant vacates its space prior to the contractual termination of its lease, the undepreciated balance of any tenant improvements are written off if they are replaced or have no future value. For the years ended December 31, 2022, 2021 and 2020, real estate depreciation expense was $108.1 million, $102.0 million and $95.8 million, respectively. Acquisitions of properties are accounted for in accordance with the authoritative accounting guidance on acquisitions and business combinations. Our methodology of allocating the cost of acquisitions to assets acquired and liabilities assumed is based on estimated fair values, replacement cost and appraised values. When we acquire operating real estate properties, the purchase price is allocated to land and buildings, intangibles such as in-place leases, and to current assets and liabilities acquired, if any. Such valuations include a consideration of the noncancelable terms of the respective leases as well as any applicable renewal periods. The fair values associated with below market renewal options are determined based on a review of several qualitative and quantitative factors on a lease-by-lease basis at acquisition to determine whether it is probable that the tenant would exercise its option to renew the lease agreement. These factors include: (1) the type of tenant in relation to the property it occupies, (2) the quality of the tenant, including the tenant's long term business prospects and (3) whether the fixed rate renewal option was sufficiently lower than the fair rental of the property at the date the option becomes exercisable such that it would appear to be reasonably assured that the tenant would exercise the option to renew. The value allocated to in-place leases is amortized over the related lease term and reflected as depreciation and amortization in the statement of comprehensive income. The value of above and below market leases associated with the original noncancelable lease terms are amortized to rental income over the terms of the respective noncancelable lease periods and are reflected as either an increase (for below market leases) or a decrease (for above market leases) to rental income in the statement of comprehensive income. The value of the leases associated with below market lease renewal options that are likely to be exercised are amortized to rental income over the respective renewal periods. If a tenant vacates its space prior to contractual termination of its lease or the lease is not renewed, the unamortized balance of any in-place lease value is written off to rental income and amortization expense. Transaction costs related to the acquisition of a business, such as broker fees, transfer taxes, legal, accounting, valuation, and other professional and consulting fees, are expensed as incurred and included in “general and administrative expenses” in our consolidated statements of comprehensive income. For asset acquisitions not meeting the definition of a business, transaction costs are capitalized as part of the acquisition cost. Capitalized Costs We capitalize certain costs related to the development and redevelopment of real estate including pre-construction costs, real estate taxes, insurance and construction costs and salaries and related costs of personnel directly involved. Additionally, we capitalize interest costs related to development and significant redevelopment activities. Capitalization of these costs begins when the activities and related expenditures commence and cease when the project is substantially complete and ready for its intended use, at which time the project is placed in service and depreciation commences. Additionally, we make estimates as to the probability of certain development and redevelopment projects being completed. If we determine that the completion of development or redevelopment is no longer probable, we expense all capitalized costs which are not recoverable. Impairment of Long Lived Assets We review for impairment on a property by property basis whenever events or changes in circumstances indicate that the carrying value of a property may not be fully recoverable. Impairment is recognized on properties held for use when the expected undiscounted cash flows for a property are less than its carrying amount at which time the property is written-down to fair value. Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. As discussed above, as a result of COVID-19, certain of the our tenants may be unable to operate their businesses, maintain profitability and make timely rental payments under their leases. Accordingly, the reduction of estimated future cash flows could result in the recognition of an impairment charge on certain of our long-lived assets. Management does not believe that the value of our real estate investments was impaired at December 31, 2022 or December 31, 2021. There were no impairment charges during the years ended December 31, 2022, 2021 and 2020. Financial Instruments The estimated fair values of financial instruments are determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop estimated fair values. The use of different market assumptions or estimation methods may have a material effect on the estimated fair value amounts. Accordingly, estimated fair values are not necessarily indicative of the amounts that could be realized in current market exchanges. Derivative Instruments At times, we may use derivative instruments to manage exposure to variable interest rate risk. We may enter into interest rate swaps to manage our exposure to variable interest rate risk. If and when we enter into derivative instruments, we ensure that such instruments qualify as cash flow hedges and would not enter into derivative instruments for speculative purposes. Any interest rate swaps associated with our cash flow hedges are recorded at fair value on a recurring basis. We assess effectiveness of our cash flow hedges both at inception and on an ongoing basis. The effective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into interest expense as interest is incurred on the related variable rate debt. Our cash flow hedges become ineffective if critical terms of the hedging instrument and the debt instrument do not perfectly match such as notional amounts, settlement dates, reset dates, calculation period and LIBOR or Secured Overnight Financing Rate. In addition, we evaluate the default risk of the counterparty by monitoring the credit worthiness of the counterparty. When ineffectiveness exists, the ineffective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recognized in earnings in the period affected. See the discussion under Note 8 for certain quantitative details related to interest rate swaps and for a discussion on how we value derivative financial instruments. Cash and Cash Equivalents We define cash and cash equivalents as cash on hand, demand deposits with financial institutions and short term liquid investments with an initial maturity of less than 3 months. Cash balances in individual banks may exceed the federally insured limit of $250,000 by the Federal Deposit Insurance Corporation (the "FDIC"). No losses have been experienced related to such accounts. At December 31, 2022 and December 31, 2021, we had $39.9 million and $62.2 million, respectively, in excess of the FDIC insured limit. At December 31, 2022 and December 31, 2021, we had $0.5 million and $70.8 million, respectively, in money market funds that are not FDIC insured. Restricted Cash Restricted cash consists of amounts held by lenders to provide for future real estate tax expenditures, insurance expenditures and reserves for capital improvements. As of December 31, 2022 and 2021, we had no restricted cash. Other Assets Other assets consist primarily of lease costs, lease incentives, acquired in-place leases and acquired above market leases. Capitalized lease costs are direct costs incurred which were essential to originate a lease and would not have been incurred had the leasing transaction not taken place and include third party commissions related to obtaining a lease. Capitalized lease costs are amortized over the life of the related lease and included in depreciation and amortization expense on the statement of comprehensive income. If a tenant vacates its space prior to the contractual termination of its lease, the unamortized balance of any lease costs are written off. We view these lease costs as part of the up-front initial investment we made in order to generate a long-term cash inflow. Therefore, we classify cash outflows for lease costs as an investing activity in our consolidated statements of cash flows. Variable Interest Entities Certain entities that do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties or in which equity investors do not have the characteristics of a controlling financial interest qualify as variable interest entities (“VIEs”). VIEs are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE is the party that has a controlling interest in the VIE. Identifying the party with the controlling interest requires a focus on which entity has the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (1) the obligation to absorb the expected losses of the VIE or (2) the right to receive the benefits from the VIE. At December 31, 2022 and December 31, 2021 we had no investments in real estate joint ventures, and no other interests in VIEs to be evaluated for consolidated. Stock-Based Compensation We grant stock-based compensation awards to our employees and directors typically in the form of restricted shares of common stock, options to purchase common stock and/or shares of common stock. For the grants of market-based restricted stock awards in December 2019 (the “2019 grant”) and December 2020 grant (the “2020 grant”), we measure stock-based compensation expense based on the fair value of the award on the grant date and recognize the expense ratably over the vesting period. For the grants of performance and market-based restricted stock awards in December 2021 (the “2021 grant”) and December 2022 (the "2022 grant"), we measure stock-based compensation expense based on the fair value of the award on the grant date, adjusted for changes to probabilities of achieving performance targets, and recognize expense ratably over the vesting period. Modifications of stock-based compensation awards are treated as an exchange of the original award for a new award with the resulting total compensation cost equal to the grant-date fair value of the original award plus the incremental value of the modification to the award. The calculation of the incremental value is based on the excess of the fair value of the new (modified) award based on current circumstances over the fair value of the original award measured immediately before its terms are modified. For the year ended December 31, 2022, 2021 and 2020, we incurred incremental compensation cost of approximately $1.4 million, $2.6 million and $1.2 million respectively, related to the discretionary vesting of previously granted restricted stock awards that did not meet the original vesting criteria. Deferred Compensation Our Operating Partnership has adopted the American Assets Trust Executive Deferral Plan V (“EDP V”) and the American Assets Trust Executive Deferral Plan VI (“EDP VI”). These plans were adopted by our Operating Partnership as successor plans to those deferred compensation plans maintained by American Assets, Inc. ("AAI") in which certain employees of AAI, who were transferred to us in connection with the Offering (the “Transferred Participants”), participated prior to the Offering. EDP V and EDP VI contain substantially the same terms and conditions as these predecessor plans. AAI transferred to our Operating Partnership the Transferred Participants' account balances under the predecessor plans. These transferred account balances represent amounts deferred by the Transferred Participants prior to the Offering while they were employed by AAI. At the time eligible participants defer compensation, we record compensation cost and a corresponding deferred compensation plan liability, which is included in other liabilities and deferred credits on our consolidated balance sheets. This liability is adjusted to fair value at the end of each accounting period based on the performance of the benchmark funds selected by each participant, and the impact of adjusting the liability to fair value is recorded as an increase or decrease to compensation cost. Income Taxes We elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), commencing with the taxable year ended December 31, 2011. To maintain our qualification as a REIT, we are required to distribute at least 90% of our REIT taxable income to our stockholders and meet the various other requirements imposed by the Code relating to such matters as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided we maintain our qualification for taxation as a REIT, we are generally not subject to corporate level income tax on the earnings distributed currently to our stockholders. If we fail to maintain our qualification as a REIT in any taxable year, and are unable to avail ourselves of certain savings provisions set forth in the Code, all of our taxable income would be subject to regular U.S. federal income tax. We are subject to certain state and local income taxes. We, together with one of our subsidiaries, have elected to treat such subsidiary as a taxable REIT subsidiary (a “TRS”) for federal income tax purposes. Certain activities that we undertake must be conducted by a TRS, such as non-customary services for our tenants, and holding assets that we cannot hold directly. A TRS is subject to federal and state income taxes. Segment Information Segment information is prepared on the same basis that our management reviews information for operational decision-making purposes. We operate in four reportable segments: the acquisition, redevelopment, ownership and management of office real estate, retail 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. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848)

REAL ESTATE

REAL ESTATE	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE A summary of our real estate investments is as follows (in thousands): Retail Office Multifamily Mixed-Use Total December 31, 2022 Land $ 254,016 $ 298,007 $ 72,668 $ 76,635 $ 701,326 Buildings 529,589 1,316,916 397,731 129,470 2,373,706 Land improvements 49,512 15,284 8,132 2,606 75,534 Tenant improvements 92,225 221,163 — 2,353 315,741 Furniture, fixtures, and equipment 1,290 5,530 19,059 15,427 41,306 Construction in progress (1) 7,471 151,734 3,739 912 163,856 934,103 2,008,634 501,329 227,403 3,671,469 Accumulated depreciation (354,884) (393,155) (130,336) (58,538) (936,913) Net real estate $ 579,219 $ 1,615,479 $ 370,993 $ 168,865 $ 2,734,556 December 31, 2021 Land $ 254,016 $ 284,263 $ 72,668 $ 76,635 $ 687,582 Buildings 527,262 1,270,131 393,713 129,226 2,320,332 Land improvements 47,425 14,269 7,764 2,606 72,064 Tenant improvements 89,520 218,639 — 2,366 310,525 Furniture, fixtures, and equipment 1,098 5,003 18,039 15,416 39,556 Construction in progress (1) 7,160 87,340 4,448 364 99,312 926,481 1,879,645 496,632 226,613 3,529,371 Accumulated depreciation (335,374) (343,433) (115,317) (53,266) (847,390) Net real estate $ 591,107 $ 1,536,212 $ 381,315 $ 173,347 $ 2,681,981 (1) Land related to held for development and construction in progress is included in the Held for Development and Construction in Progress classifications on the consolidated balance sheets. Property Asset Acquisitions On July 7, 2021, we acquired E astgate Office Park, consisting of an approximately 280,000 square feet, multi-tenant office campus in Bellevue, Washington. The purchase price was approximately $125 million, excluding closing costs of approximately $0.2 million. The property was acquired with cash on hand. On September 10, 2021, we acquired Corporate Campus East III in Bellevue, Washington, consisting of an approximately 161,000 square feet, multi-tenant office campus. The purchase price was approximately $84 million , less seller credits of (i) approximately $1.1 million of future rent abatement (ii) approximately $2.1 million of contractual tenant improvements and closing costs of approximately $0.1 million. The property was acquired with cash on hand. On March 8, 2022, we acquired Bel-Spring 520 in Bellevue, Washington, consisting of an approximately 93,000 square feet, multi-tenant office campus. The purchase price was $45.5 million , less seller credits of approximately $0.1 million of future rent abatement, and approximately $0.6 million of contractual tenant improvements. Additionally, closing costs were approximately $0.1 million. The financial information set forth below summarizes the company’s purchase price allocation for Bel-Spring 520 during the year ended December 31, 2022 (in thousands): Bel-Spring 520 Land $ 13,744 Building 27,793 Land improvements 713 Furniture, fixtures, and equipment 1,833 Total real estate 44,083 Lease intangibles 2,036 Prepaid expenses and other assets 10 Assets acquired $ 46,129 Accounts payable and accrued expenses $ (14) Security deposits payable (189) Other liabilities and deferred credits (641) Liabilities assumed $ (844) The value allocated to lease intangibles is amortized over the related lease term as depreciation and amortization expense in the statement of comprehensive income. The remaining weighted average amortization period as of December 31, 2022, is 3 years. The following table summarizes the operating results for Bel-Spring 520 included in the company's historical consolidated statement of operations for the period of acquisition through December 31, 2022 (in thousands): Bel-Spring 520 Revenues $ 2,512 Operating expenses 2,417 Operating income 95 Net income attributable to American Assets Trust, Inc. $ 95

ACQUIRED IN-PLACE LEASES AND AB

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES	12 Months Ended
	Dec. 31, 2022
Leases [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, which are included in other assets and other liabilities and deferred credits (in thousands): December 31, 2022 December 31, 2021 In-place leases $ 58,119 $ 67,215 Accumulated amortization (34,593) (38,130) Above market leases 1,885 2,532 Accumulated amortization (1,778) (2,383) Acquired lease intangible assets, net $ 23,633 $ 29,234 Below market leases $ 52,832 $ 58,655 Accumulated accretion (33,168) (36,253) Acquired lease intangible liabilities, net $ 19,664 $ 22,402 The value allocated to in-place leases is amortized over the related lease term as depreciation and amortization expense in the statement of comprehensive income. Above and below market leases are amortized over the related lease term as additional rental income for below market leases or a reduction of rental income for above market leases in the statement of comprehensive income. Rental income (loss) includes net amortization from acquired above and below market leases of $3.3 million, $3.2 million and $3.9 million in 2022, 2021 and 2020, respectively. The remaining weighted-average amortization period as of December 31, 2022, is 5.9 years, 2.8 years and 10.5 years for in-place leases, above market leases and below market leases, respectively. Below market leases include $10.2 million related to below market renewal options, and the weighted-average period prior to the commencement of the renewal options is 7.6 years. Increases (decreases) in net income as a result of amortization of our in-place leases, above market leases and below market leases are as follows (in thousands): Year Ended December 31, 2022 2021 2020 Amortization of in-place leases $ (7,188) $ (6,664) $ (5,018) Amortization of above market leases (41) (34) (62) Amortization of below market leases 3,348 3,271 3,994 $ (3,881) $ (3,427) $ (1,086) As of December 31, 2022, the amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows (in thousands): In-Place Above Market Below Market Year Ending December 31, 2023 $ 4,914 $ 41 $ 3,109 2024 4,499 38 2,742 2025 3,742 25 2,200 2026 3,387 3 1,776 2027 3,012 — 1,460 Thereafter 3,972 — 8,376 $ 23,526 $ 107 $ 19,664

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2022
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 The carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities are reasonable estimates of fair value, using Level 1 inputs, because of the short-term nature of these instruments. 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 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 contracts 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 December 31, 2022 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): December 31, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Deferred compensation liability $ — $ 2,411 $ — $ 2,411 $ — $ 2,503 $ — $ 2,503 Interest rate swap asset $ — $ 9,986 $ — $ 9,986 $ — $ — $ — $ — Interest rate swap liability $ — $ 196 $ — $ 196 $ — $ 1,807 $ — $ 1,807 The fair value of our secured notes payable and unsecured notes payable is sensitive to fluctuations in interest rates. Discounted cash flow analysis (Level 2) is generally used to estimate the fair value of our mortgages and notes payable, using rates ranging from 5.3% to 6.5%. 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 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 or SOFR contracts. A summary of the carrying amount and fair value of our financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands): December 31, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value Secured notes payable $ 74,578 $ 75,129 $ 110,965 $ 113,207 Unsecured term loan $ 249,428 $ 250,000 $ 249,654 $ 250,000 Unsecured senior guaranteed notes $ 798,362 $ 761,470 $ 797,953 $ 832,795 Senior unsecured notes, net $ 491,663 $ 403,500 $ 490,631 $ 503,000 Unsecured line of credit $ 34,057 $ 36,000 $ — $ —

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ASSETS	OTHER ASSETS Other assets consist of the following (in thousands): December 31, 2022 December 31, 2021 Leasing commissions, net of accumulated amortization of $43,078 and $40,595, respectively $ 38,436 $ 38,589 Interest rate swap asset 9,986 — Acquired above market leases, net 107 149 Acquired in-place leases, net 23,526 29,085 Lease incentives, net of accumulated amortization of $1,012 and $913, respectively 1,296 595 Other intangible assets, net of accumulated amortization of $1,549 and $1,382, respectively 2,165 2,445 Right-of-use lease asset, net 23,921 26,254 Prepaid expenses, deposits and other 9,277 9,136 Total other assets $ 108,714 $ 106,253

OTHER LIABILITIES AND DEFERRED

OTHER LIABILITIES AND DEFERRED CREDITS	12 Months Ended
	Dec. 31, 2022
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): December 31, 2022 December 31, 2021 Acquired below market leases, net $ 19,664 $ 22,402 Prepaid rent and deferred revenue 17,971 16,309 Interest rate swap liability 196 1,807 Straight-line rent liability 12,746 14,274 Deferred compensation 2,411 2,503 Deferred tax liability 852 967 Lease liability 25,676 27,917 Other liabilities 61 36 Total other liabilities and deferred credits, net $ 79,577 $ 86,215 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	12 Months Ended
	Dec. 31, 2022
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. has guaranteed the Operating Partnership's obligations under the (i) amended and restated credit facility, (ii) term loans, (iii) senior guaranteed notes, and (iv) senior unsecured notes. Debt of American Assets Trust, L.P. Secured notes payable The following is a summary of the Operating Partnership's total secured notes payable outstanding as of December 31, 2022 and December 31, 2021 (in thousands): Description of Debt Principal Balance as of Stated Interest Rate Stated Maturity Date December 31, 2022 December 31, 2021 as of December 31, 2022 City Center Bellevue (1) — 111,000 3.98 % November 1, 2022 City Center Bellevue (1) 75,000 — 5.08 % October 1, 2027 75,000 111,000 Debt issuance costs, net of accumulated amortization of $452 and $387, respectively (422) (35) Total Secured Notes Payable $ 74,578 $ 110,965 (1) Interest only. On September 16, 2022, the Operating Partnership repaid in full, without premium or penalty, the $111 million principal balance of the mortgage on City Center Bellevue. Concurrent therewith, the Operating Partnership entered into a new $75 million non-recourse mortgage on City Center Bellevue. The new five-year mortgage has a maturity date of October 1, 2027, bears interest at a fixed rate per annum of 5.08% (interest only) and is secured by a first-priority deed of trust on City Center Bellevue and an assignment of all leases, rents and security deposits related to City Center Bellevue. Additionally, the Operating Partnership has provided a carve-out guarantee on the new mortgage at City Center Bellevue. Certain loans require the Operating Partnership to comply with various financial covenants. As of December 31, 2022, the Operating Partnership was in compliance with these financial covenants. Certain loans require the Operating Partnership to comply with various financial covenants, including the maintenance of minimum debt coverage ratios. As of December 31, 2022, we were in compliance with all loan covenants. Unsecured notes payable The following is a summary of the Operating Partnership's total unsecured notes payable outstanding as of December 31, 2022 and December 31, 2021 (in thousands): Description of Debt Principal Balance as of Stated Interest Rate Stated Maturity Date December 31, 2022 December 31, 2021 as of December 31, 2022 Term Loan A $ 100,000 $ 100,000 Variable (1) January 5, 2027 Term Loan B 100,000 100,000 Variable (3) March 1, 2023 (2) Term Loan C 50,000 50,000 Variable (4) March 1, 2023 (2) Senior Guaranteed Notes, Series F 100,000 100,000 3.78 % (5) 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 250,000 250,000 4.29 % (6) March 1, 2027 Senior Guaranteed Notes, Series E 100,000 100,000 4.24 % (7) May 23, 2029 Senior Guaranteed Notes, Series G 150,000 150,000 3.91 % (8) July 30, 2030 3.375% Senior Unsecured Notes 500,000 500,000 3.38 % February 1, 2031 1,550,000 1,550,000 Debt discount and issuance costs, net of accumulated amortization of $11,709 and $9,462, respectively (10,547) (11,762) Total Unsecured Notes Payable $ 1,539,453 $ 1,538,238 (1) The Operating Partnership has entered into two interest rate swap agreements that are intended to fix the interest rate associated with Term Loan A at approximately 2.70% through its maturity date, subject to adjustments based on our consolidated leverage ratio. (2) On January 5, 2023, we extended Term Loan B and Term Loan C to a maturity date of January 5, 2025 with one, twelve-month extension option and increased the fully drawn borrowings thereunder to $150 million and $75 million, respectively. (3) 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. Effective March 1, 2018, the effective interest rate associated with Term Loan B is approximately 2.65% through November 30, 2022, subject to adjustments based on our consolidated leverage ratio. The interest rate swap agreement was terminated as of November 30, 2022. As such, the variable interest paid from December 1, 2022 through December 31, 2022 was 5.32%. (4) 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. Effective March 1, 2018, the effective interest rate associated with Term Loan C is approximately 2.64% through November 30, 2022, subject to adjustments based on our consolidated leverage ratio. The interest rate swap agreement was terminated as of November 30, 2022. As such, the variable interest paid from December 1, 2022 through December 31, 2022 was 5.32%. (5) 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. (6) 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 highly effective cash flow hedges, accordingly, the effective interest rate is approximately 3.87% per annum. (7) 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. (8) The Operating Partnership entered into a treasury lock contract on June 20, 2019, which was settled on July 17, 2019 at a gain 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 3.88% per annum. Senior Unsecured Notes On January 26, 2021, the Operating Partnership issued $500 million of senior unsecured notes (the "3.375% Senior Notes") that mature February 1, 2031 and bear interest at 3.375% per annum. The 3.375% Senior Notes were priced at 98.935% of the principal amount with a yield to maturity of 3.502%. The net proceeds of the 3.375% Senior Notes, after the issuance discount, underwriting fees, and other costs were approximately $489.7 million, which were primarily used to (i) prepay our $150 million Senior Guaranteed Notes, Series A, with a make-whole payment (as defined in the Note Purchase Agreement for the Series A Notes) thereon of approximately $3.9 million, on January 26, 2021, (ii) repay our $100 million then outstanding balance under our Revolver Loan on January 26, 2021, (iii) fund the development of the La Jolla Commons III office building and (iv) for general corporate purposes. Term Loan Agreement On March 1, 2016, the Operating Partnership entered into a Term Loan Agreement with each lender from time to time party thereto, and U.S. Bank National Association, as Administrative Agent (as amended, the “Term Loan Agreement”). The Term Loan Agreement provides for a new, seven years unsecured term loan to the Operating Partnership of $100 million that matures on March 1, 2023 (“Term Loan B”). Concurrent with the closing of the Term Loan Agreement, the Operating Partnership drew down the entirety of Term Loan B. On May 2, 2016, the Operating Partnership entered into a Joinder and First Amendment to the Term Loan Agreement to provide for a new lender to fund an incremental term loan. The Joinder and First Amendment provides for a new, seven years unsecured term loan to the Operating Partnership of $50 million that matures on March 1, 2023 ("Term Loan C"). Term Loan C has the same borrowing terms as the Term Loan Agreement noted below. Concurrent with the closing of the Joinder and First Amendment, the Operating Partnership drew down the entirety of Term Loan C. Borrowings under the Term Loan Agreement with respect to Term Loan B and Term Loan C bear interest at floating rates equal to, at our option, either (1) LIBOR, plus a spread which ranges from 1.70% to 2.35% based on our consolidated leverage ratio, or (2) a base rate equal to the highest of (a) 0%, (b) the prime rate, (c) the federal funds rate plus 50 bps or (d) the Eurodollar rate plus 100 bps, in each case plus a spread which ranges from 0.70% to 1.35% based on our consolidated leverage ratio. The company entered into interest rate swap agreements intended to fix the interest rates associated with Term Loan B and Term Loan C at approximately 3.15% and 3.14%, respectively, through the maturity dates, subject to adjustments based on our consolidated leverage ratio. The Term Loan 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 Term Loan Agreement, upon certain events of default, including, but not limited to, (i) a default in the payment of any principal or interest under Term Loan B or Term Loan C, 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 prepayment penalties on the outstanding Term Loan B or Term Loan C will become due and payable at the option of the lenders. On January 9, 2018, we entered into the Third Amendment (“Third Amendment”) to the Term Loan Agreement, which maintains the $150 million unsecured term loan (Term Loan B and Term Loan C) to the Operating Partnership that matures on March 1, 2023 (the “$150mm Term Loan”). Effective as of March 1, 2018, borrowings under the Term Loan Agreement with respect to the $150mm Term Loan bear interest at floating rates equal to, at the Operating Partnership’s option, either (1) LIBOR, plus a spread which ranges from 1.20% to 1.70% based on the Operating Partnership’s consolidated leverage ratio, or (2) a base rate equal to the highest of (a) 0%, (b) the prime rate, (c) the federal funds rate plus 50 bps or (d) the Eurodollar rate plus 100 bps, in each case plus a spread which ranges from 0.70% to 1.35% based on the Operating Partnership’s consolidated leverage ratio. The foregoing rates are intended to be more favorable than previously contained in the Term Loan Agreement. Additionally, the Operating Partnership may elect for borrowings to bear interest based on a ratings-based pricing grid as per the Operating Partnership’s then-applicable investment grade debt ratings under the terms set forth in the Term Loan Agreement. On January 5, 2023, we entered into the Amended and Restated Term Loan Agreement, which increased the aggregate unsecured borrowings from $150 million to $225 million and extended the maturity date of Term Loan B and Term Loan C from March 1, 2023 to January 5, 2025, with one, twelve-month extension option, subject to certain conditions. Borrowings under the Amended and Restated Term Loan Agreement bear interest at floating rates equal to, at the Operating Partnership’s option, either (1) the applicable Secured Overnight Financing Rate (“SOFR”), plus a SOFR adjustment and a spread (based on the Operating Partnership’s consolidated leverage ratio and applicable year of Term Loan B and Term Loan C) ranging from 1.20% to 1.90%, or (2) a base rate equal to the highest of (a) 0%, (b) the prime rate, (c) the federal funds rate plus 50 bps and (d) the one-month SOFR, plus a SOFR adjustment and 100 bps, plus, in each case, a spread (based on the Operating Partnership’s consolidated leverage ratio and applicable year of the Term Loan B and Term Loan C) ranging from 0.20% to 0.90%. Additionally, the Operating Partnership may elect for borrowings to bear interest based on a ratings-based pricing grid based on the Operating Partnership’s then-applicable investment grade debt ratings under the terms set forth in the Amended and Restated Term Loan Agreement. Prior to entering into the Amended and Restated Term Loan Agreement, the Operating Partnership entered into interest rate swaps that are intended to fix the interest rate associated with Term Loan B and Term Loan C at approximately (1) 5.47% for the first year of Term Loan B and Term Loan C and (2) 5.57% for the second year of Term Loan B and Term Loan C, subject to adjustments based on the Company’s consolidated leverage ratio. Senior Guaranteed Notes On October 31, 2014, the Operating Partnership entered into a note purchase agreement (the "Note Purchase Agreement") with a group of institutional purchasers that provided for the private placement of an aggregate of $350 million of senior guaranteed notes, of which (i) $150 million are designated as 4.04% Senior Guaranteed Notes, Series A, due October 31, 2021 (the “Series A Notes”), (ii) $100 million are designated as 4.45% Senior Guaranteed Notes, Series B, due February 2, 2025 (the “Series B Notes”) and (iii) $100 million are designated as 4.50% Senior Guaranteed Notes, Series C, due April 1, 2025 (the “Series C Notes”). The Series A Notes were issued on October 31, 2014, the Series B Notes were issued on February 2, 2015 and the Series C Notes were issued on April 2, 2015. The Series A Notes, the Series B Notes and the Series C Notes will pay interest quarterly on the last day of January, April, July and October until their respective maturities. On January 26, 2021, we repaid the entirety of the $150.0 million Series A Notes with a make-whole payment (as defined in the Note Purchase Agreement) of approximately $3.9 million. 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. On July 30, 2019, the Operating Partnership entered into a Note Purchase Agreement for the private placement of $150 million of 3.91% Senior Guaranteed Notes, Series G, due July 30, 2030 (the "Series G Notes" and collectively with the Series A Notes, Series B Notes, Series C Notes, Series D Notes, Series E Notes, and Series G Notes are referred to herein as, the “Notes".) The Series G Notes were issued on July 30, 2019 and will pay interest semi-annually on the 30th of July and January until their maturity. The Operating Partnership may prepay at any time all, or from time to time any part of, the Notes, in an amount not less than 5% of the aggregate principal amount of any series of the Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid plus a Make-Whole Amount. The Note Purchase Agreements contain 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 Note Purchase Agreement and the Notes, 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 Notes, and (ii) a default in the payment of certain other indebtedness by us or our subsidiaries, the principal, accrued and unpaid interest, and the Make-Whole Amount on the outstanding Notes will become due and payable at the option of the purchasers. The Operating Partnership's obligations under the Notes are fully and unconditionally guaranteed by the Operating Partnership and certain of the Operating Partnership's subsidiaries. Certain loans require the Operating Partnership to comply with various financial covenants, including the maintenance of minimum debt coverage ratios. As of December 31, 2022, the Operating Partnership was in compliance with all loan covenants. Scheduled principal payments on secured and unsecured notes payable as of December 31, 2022 are as follows (in thousands): 2023 (1) $ 150,000 2024 100,000 2025 200,000 2026 — 2027 425,000 Thereafter 750,000 $ 1,625,000 (1) On January 5, 2023, we entered into a $225 million Amended and Restated Term Loan Agreement, which increased the aggregate unsecured borrowings from $150 million to $225 million and extended the maturity date of the Term Loans B & C from March 1, 2023 to January 5, 2025, with one, twelve-month extension option, subject to certain conditions. Credit Facility On January 9, 2014, the company and the Operating Partnership entered into an amended and restated credit agreement (the "Prior Credit Facility"), or 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 (the "Prior Revolver Loan") and a term loan of $100 million ("Term Loan A"). The Prior Credit Facility had an accordion feature that allowed 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. On October 16, 2014, we entered into a first amendment to the Prior Credit Agreement that amended provisions of the Prior Credit Agreement to, among other things, (1) describe the treatment of our pari passu obligations under the amended and restated credit agreement and (2) remove the material acquisition provisions previously set forth in the Prior Credit Agreement. Borrowings under the Prior Credit Facility initially bore 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 Prior 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 Prior 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 foregoing rates were more favorable than previously contained in the credit agreement in place as of December 31, 2013. If American Assets Trust, Inc. obtained an investment grade debt rating, under the terms set forth in the Prior Credit Facility, the spreads would further improve. The Prior Revolver Loan initially matured on January 9, 2018, subject to the Operating Partnership's option to extend the Prior Revolver Loan up to two times, with each such extension for a six months period. Term Loan A initially matured on January 9, 2016, subject to our option to extend Term Loan A up to three times, with each such extension for a 12-month period. The foregoing extension options were exercisable by us subject to the satisfaction of certain conditions. Effective as of January 8, 2018, the Operating Partnership exercised the third of three options to extend the maturity date of Term Loan A to January 9, 2019. Concurrent with the closing of the Prior Credit Facility, the Operating Partnership drew down on the entirety of the $100 million Term Loan, which remains outstanding and is included in unsecured notes payable as discussed above. The Prior Credit Facility provided that American Assets Trust, Inc.'s annual distributions may not exceed the greater of (1) 95% of our funds from operations (“FFO”) or (2) the amount required for us to (a) qualify and maintain our REIT status and (b) avoid the payment of federal or state income or excise tax. If certain events of default exist or would result from a distribution, we may be precluded from making distributions other than those necessary to qualify and maintain our status as a REIT. American Assets Trust, Inc. and certain of its subsidiaries guaranteed the obligations under the Prior Credit Agreement, and certain of its subsidiaries pledged specified equity interests in our subsidiaries as collateral for our obligations under the Prior Credit Facility. On January 9, 2018, we entered into a second amended and restated credit agreement (the "Second Amended and Restated Credit Facility"), which amended and restated the Prior Credit Agreement. The Second Amended and Restated Credit Facility provided for aggregate, unsecured borrowing of $450 million, consisting of a revolving line of credit of $350 million (the "Revolver Loan") and a term loan of $100 million (the "Term Loan A"). The Second Amended and Restated Credit Facility had an accordion feature that would have allowed us to increase the availability thereunder up to an additional $250 million, subject to meeting specified requirements and obtaining additional commitments from lenders. Borrowings under the Second Amended and Restated Credit Facility had interest at floating rates equal to, at our option, either (1) LIBOR, plus a spread which ranges from (a) 1.05% to 1.50% (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) LIBOR plus 100 bps, plus a spread which ranges from (i) 0.10% to 0.50% (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 foregoing rates were more favorable than previously contained in the Prior Credit Facility in place as of December 31, 2017. The Revolver Loan initially matured on January 9, 2022, subject to our option to extend the Revolver Loan up to two times, with each such extension for a six months period. The extension options are exercisable by us subject to the satisfaction of certain conditions. On January 9, 2019, we entered into the first amendment (“First Amendment”) to the Second Amended and Restated Credit Facility, which extended the maturity date of Term Loan A to January 9, 2021, subject to three, one year extension options. On October 16, 2020, we exercised an option to extend the maturity date of Term Loan A to January 9, 2022. Additionally, in connection with the First Amendment, borrowings under the Second Amended and Restated Credit Facility with respect to Term Loan bear interest at floating rates equal to, at our option, either (1) LIBOR, plus a spread which ranges from 1.20% to 1.70% based on our consolidated total 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, in each case plus a spread which ranges from 0.20% to 0.70% based on our consolidated total leverage ratio. The foregoing rates were more favorable than previously contained in the Second Amended and Restated Credit Facility (prior to entry into the First Amendment) with respect to Term Loan A. On January 5, 2022, we entered into the Third Amended and Restated Credit Facility, which provides for aggregate, unsecured borrowings of up to $500 million, consisting of a revolving line of credit of $400 million (the “2022 Revolver Loan”) and a term loan of $100 million (the “2022 Term Loan A”). The 2022 Revolver Loan initially matures on January 5, 2026, subject to two, six-month extension options. The 2022 Term Loan A matures on January 5, 2027, with no further extension options. Borrowings under the Third Amended and Restated Credit Agreement bear interest at floating rates equal to, at the Operating Partnership’s option, either (1) the applicable Secured Overnight Financing Rate (“SOFR”), plus the applicable SOFR Adjustment and a spread which ranges from (a) 1.05%-1.50% (with respect to the 2022 Revolver Loans) and (b) 1.20% to 1.70% (with respect to the 2022 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, (c) the Term SOFR Screen Rate with a term of one month plus 100 bps and (d) 1.00%, plus a spread which ranges from (i) 0.10%-0.50% (with respect to 2022 Revolver Loan) and (ii) 0.20% to 0.70% (with respect to the 2022 Term Loan A), in each case based on our consolidated leverage ratio. Note that on January 14, 2022, the Operating Partnership entered into an interest rate swap agreement that is intended to fix the interest rate associated with the 2022 Term Loan A at approximately 2.70% through January 5, 2027, subject to adjustments based on our consolidated leverage ratio. At December 31, 2022, there was $36 million outstanding under the 2022 Revolver Loan. Approximately $1.9 million of net debt issuance costs are included in the unsecured line of credit, net on the balance sheet. For the year ended December 31, 2022, the weighted average interest rate on the 2022 Revolver Loan was 4.38%. Additionally, the Third Amended and Restated Credit Facility included a number of customary financial covenants that were unchanged from the Second Amended and Restated Credit Facility, including: • A maximum leverage ratio (defined as total indebtedness net of certain cash and cash equivalents to total asset value) of 60%, • A maximum secured leverage ratio (defined as total secured debt to secured total asset value) of 40%, • A minimum fixed charge coverage ratio (defined as consolidated earnings before interest, taxes, depreciation and amortization to consolidated fixed charges) of 1.50x, • A minimum unsecured interest coverage ratio of 1.75x, • A maximum unsecured leverage ratio of 60%, and • Recourse indebtedness at any time cannot exceed 15% of total asset value. Consistent with the Second Amended and Restated Credit Facility, the Third Amended and Restated Credit Facility provided that our annual distributions may not exceed the greater of (1) 95% of our FFO or (2) the amount required for us to (a) qualify and maintain our REIT status and (b) avoid the payment of federal or state income or excise tax. If certain events of default exist or would result from a distribution, we may be precluded from making distributions other than those necessary to qualify and maintain our status as a REIT. As of December 31, 2022, the Operating Partnership was in compliance with all then in-place Third Amended and Restated Credit Facility covenants.

DERIVATIVE AND HEDGING ACTIVITI

DERIVATIVE AND HEDGING ACTIVITIES	12 Months Ended
	Dec. 31, 2022
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 exposure to interest rate movement. To accomplish these objectives, we 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. Concurrent with the closing of our second amended and restated credit facility, we entered into an interest rate swap agreement that is intended to fix the interest rate associated with our term loan of $100 million at approximately 4.13% through its original maturity date, subject to adjustments based on our consolidated leverage ratio. On January 29, 2016, we entered into a forward-starting interest rate swap contract with U.S. Bank National Association to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective $100 million seven-year term loan. The forward-starting seven years swap contract had a notional amount of $100 million, a termination date of March 1, 2023, a fixed pay rate of 1.4485%, and a receive rate equal to the one-month LIBOR, with fixed rate payments due monthly commencing April 1, 2016, floating payments due monthly commencing April 1, 2016, and floating reset dates two days prior to the first day of each calculation period. The forward-starting seven-year swap contract accrual period, March 1, 2016 to March 1, 2023, was designed to match the expected tenor of our then prospective $100 million seven years term loan, which successfully closed on March 1, 2016. On March 23, 2016, we entered into a forward-starting interest rate swap contract with Wells Fargo Bank, National Association to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective incremental $50 million seven-year term loan. The forward-starting seven years swap contract had a notional amount of $50 million, a termination date of March 1, 2023, a fixed pay rate of 1.4410%, and a receive rate equal to the one-month LIBOR, with fixed rate payments due monthly commencing June 1, 2016, floating payments due monthly commencing June 1, 2016, and floating reset dates two days prior to the first day of each calculation period. The forward-starting seven-year swap contract accrual period, May 2, 2016 to March 1, 2023, was designed to match the expected tenor of our then prospective incremental $50 million seven years term loan, which successfully closed on May 2, 2016. On March 29, 2016, we entered into a forward-starting interest rate swap contract with Wells Fargo Bank, National Association to reduce the interest rate variability exposure of the projected interest cash flows of our prospective new ten-year debt offering (private placement, investment grade bonds, term loan or otherwise) (anticipated to close on or before March 31, 2017). The forward-starting ten years 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 our prospective new ten years debt offering (private placement, investment grade bonds, term loan or otherwise). On April 7, 2016, we entered into a forward-starting interest rate swap contract with Wells Fargo Bank, National Association to reduce the interest rate variability exposure of the projected interest cash flows of our prospective new ten-year debt offering (private placement, investment grade bonds, term loan or otherwise) (anticipated to close on or before March 31, 2017). The forward-starting ten years 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 prospective new ten years debt offering (private placement, investment grade bonds, term loan or otherwise). On January 18, 2017, we settled the March 29, 2016 $150 million and April 7, 2016 $100 million ten-year forward-starting interest rate swaps resulting in an aggregate 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. 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 years private placement. The April 2017 Treasury Lock 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 years 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 April 2017 Treasury Lock has been deemed to be a highly effective cash flow hedge and we elected to designate the April 2017 Treasury Lock 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 years private placement. The May 2017 Treasury Lock 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 years 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 May 2017 Treasury Lock has been deemed to be a highly effective cash flow hedge and we elected to designate the May 2017 Treasury Lock as an accounting hedge. On November 26, 2018, we entered into an interest rate swap agreement with Bank of America, National Association, to fix the interest rate associated with Term Loan A associated with our then prospective First Amendment at approximately 4.13% through its maturity date of January 9, 2021, subject to adjustments based on our consolidated leverage ratio. On June 20, 2019, we entered into a treasury lock contract (the "June 2019 Treasury Lock") with Wells Fargo Bank, N.A., to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective eleven-year private placement. The treasury lock contract has a notional amount of $100 million, termination date of July 31, 2019, a fixed pay rate of 1.9925%, and a receive rate equal to the ten years treasury rate on the settlement date. On July 17, 2019, we settled the June 2019 Treasury Lock, resulting in a gain of approximately $0.5 million, which 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 August 11, 2020, we entered into a treasury lock contract (the "August 2020 Treasury Lock") with Wells Fargo Bank, N.A., to reduce the interest rate variability exposure of the projected interest cash flows of a then prospective future financing. The treasury lock contract had a notional amount of $200 million, termination date of November 12, 2020, a fixed pay rate of 0.7115%, and a receive rate equal to the ten years treasury rate on the settlement date. We determined that there was no compelling reason from a capital requirement perspective to move forward with the prospective financing at prevailing rates and, as a result, on October 1, 2020, we settled the August 2020 Treasury Lock, resulting in no gain or loss. On January 14, 2022, we entered into two separate interest rate swap contracts, one with Wells Fargo Bank, National Association and one with Bank of America, National Association, to reduce the interest rate variability exposure of the interest cash flows of the 2022 Term Loan A. Each of the two five year swap contracts have a notional amount of $50 million, a termination date of January 5, 2027, a fixed pay rate of 2.7% (both swaps combined), and a receive rate equal to the one-month SOFR, with fixed rate payments due monthly commencing February 1, 2022, floating payments due monthly commencing February 1, 2022, and floating reset dates two days prior to the first day of each calculation period. The five-year swap contracts accrual period, January 14, 2022 to January 5, 2027, was designed to match the tenor of our 2022 Term Loan A, which successfully closed on January 5, 2022. On November 30, 2022, we terminated the $100 million and $50 million forward-starting interest rate swaps entered into on January 29, 2016 and March 23, 2016, respectively, resulting in an aggregate gain of approximately $1.1 million. This gain is included in accumulated other comprehensive income and will be amortized to interest expense, net through March 1, 2023, the original maturity of the forward-starting interest rate swaps. 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. Concurrent therewith on November 30, 2022 we entered into two separate forward-starting interest rate swap contracts, one with Wells Fargo Bank, National Association and one with Mizuho Capital Markets LLC, to reduce the interest rate variability exposure of the projected interest cash flows of our then prospective $225 million two-year amended and restated term loan. The forward-starting two years swap contract had a notional amount of $225 million, a termination date of January 5, 2025, a fixed pay rate of 4.17% (both swaps combined), and a receive rate equal to the one-month SOFR, with fixed rate payments due monthly commencing February 6, 2023, floating payments due monthly commencing February 1, 2023, and floating reset dates two days prior to the first day of each calculation period. The forward-starting two-year swap contract accrual period, January 5, 2023 to January 5, 2025, was designed to match the expected tenor of our then prospective $225 million two-year term loan, which successfully closed on January 5, 2023. The following is a summary of the terms of the interest rate swaps as of December 31, 2022 (dollars in thousands): Swap Counterparty Notional Amount Effective Date Maturity Date Fair Value Bank of America, N.A. $ 50,000 1/14/2022 1/5/2027 $ 4,468 Wells Fargo Bank, N.A. $ 50,000 1/14/2022 1/5/2027 $ 4,476 Wells Fargo Bank, N.A. $ 150,000 1/5/2023 1/5/2025 $ 1,042 Mizuho Capital Markets LLC $ 75,000 1/5/2023 1/5/2025 $ (196) The effective portion of changes in the fair value of the derivatives that are designated as cash flow hedges are being recorded as accumulated other comprehensive income and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. During the next twelve months, we estimate that $1.1 million will be reclassified as a decrease to interest expense.

PARTNERS' CAPITAL OF AMERICAN A

PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P.	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P.	PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P. As of December 31, 2022, the Operating Partnership had 16,181,537 common units (the “Noncontrolling Common Units”) outstanding. American Assets Trust, Inc. owned 78.8% of the Operating Partnership at December 31, 2022. The remaining 21.2% of the partnership interests are owned by non-affiliated investors and certain of our directors and executive officers. Common units and shares of the company's common stock have essentially the same economic characteristics in that common units and shares of the company's common stock share equally in the total net income or loss distributions of the Operating Partnership. American Assets Trust, Inc. is the Operating Partnership’s general partner and is responsible for the management of the Operating Partnership’s business. As the general partner of the Operating Partnership, the company effectively controls the ability to issue common stock of American Assets Trust, Inc. upon a limited partner’s notice of redemption. Investors who own common units have the right to cause the Operating Partnership to redeem any or all of their common units for cash equal to the then-current market value of one share of the company's common stock, or, at the company's election, shares of the company's common stock on a one-for-one basis. In addition, American Assets Trust, Inc. has generally acquired common units upon a limited partner’s notice of redemption in exchange for shares of the company's common stock. The redemption provisions of common units owned by limited partners that permit the Operating Partnership to settle in either cash or common stock at the option of the company are further evaluated in accordance with applicable accounting guidance to determine whether temporary or permanent equity classification on the balance sheet is appropriate. The Operating Partnership evaluated this guidance, including the requirement to settle in unregistered shares, and determined that these common units meet the requirements to qualify for presentation as permanent equity.

EQUITY OF AMERICAN ASSETS TRUST

EQUITY OF AMERICAN ASSETS TRUST, INC.	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
EQUITY OF AMERICAN ASSETS TRUST, INC.	EQUITY OF AMERICAN ASSETS TRUST, INC. Stockholders' Equity On December 3, 2021, we entered into a new ATM equity program, with five sales agents under which we may, from time to time, offer and sell shares of our common stock having an aggregate offering price of up to $250 million. The sale 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. For the year ended December 31, 2022, no shares of common stock were sold through the ATM equity program. 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 December 31, 2022, we had the capacity to issue up to $250 million in shares of our common stock under our current 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. As of December 31, 2022, we have no obligation to sell the remaining shares available for sale under the active ATM equity program. Preferred Stock Authorized Shares We have been authorized to issue 10,000,000 shares of preferred stock with a par value of $0.01, of which no shares were outstanding at December 31, 2022. Upon issuance, our board of directors has the ability to define the terms of the preferred shares, including voting rights, liquidation preferences, conversion and redemption provisions and dividend rates. Dividends The following table lists the dividends declared and paid on our shares of common stock and Noncontrolling Common Units for the years ended December 31, 2022, 2021 and 2020: Period Amount per Share/Unit Period Covered Dividend Paid Date First Quarter 2020 $ 0.30 January 1, 2020 to March 31, 2020 March 26, 2020 Second Quarter 2020 $ 0.20 April 1, 2020 to June 30, 2020 June 25, 2020 Third Quarter 2020 $ 0.25 July 1, 2020 to September 30, 2020 September 24, 2020 Fourth Quarter 2020 $ 0.25 October 1, 2020 to December 31, 2020 December 24, 2020 First Quarter 2021 $ 0.28 January 1, 2021 to March 31, 2021 March 25, 2021 Second Quarter 2021 $ 0.28 April 1, 2021 to June 30, 2021 June 24, 2021 Third Quarter 2021 $ 0.30 July 1, 2021 to September 30, 2021 September 23, 2021 Fourth Quarter 2021 $ 0.30 October 1, 2021 to December 31, 2021 December 23, 2021 First Quarter 2022 $ 0.32 January 1, 2022 to March 31, 2022 March 24, 2022 Second Quarter 2022 $ 0.32 April 1, 2022 to June 30, 2022 June 23, 2022 Third Quarter 2022 $ 0.32 July 1, 2022 to September 30, 2022 September 22, 2022 Fourth Quarter 2022 $ 0.32 October 1, 2022 to December 31, 2022 December 22, 2022 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 loss on extinguishment of debt, revenue recognition and compensation expense and in the basis of depreciable assets and estimated useful lives used to compute depreciation. A summary of the income tax status of dividends per share paid is as follows: Year Ended December 31, 2022 2021 2020 Per Share % Per Share % Per Share % Ordinary income $ 1.18 92.1 % $ 0.73 62.6 % $ 0.66 66.0 % Capital gain — — % — — % — — % Return of capital 0.10 7.9 % 0.43 37.4 % 0.34 34.0 % Total $ 1.28 100.0 % $ 1.16 100.0 % $ 1.00 100.0 % Stock-Based Compensation The company has established the 2011 Equity Incentive Award Plan, which provides for grants to directors, employees and consultants of the company and the Operating Partnership of stock options, restricted stock, dividend equivalents, stock payments, performance shares, LTIP units, stock appreciation rights and other incentive awards. In June 2020, at the annual shareholder meeting, the shareholders approved the Amended and Restated 2011 Equity Incentive Award Plan (the "Amended and Restated 2011 Plan"). An aggregate of 4,054,411 shares of our common stock are authorized for issuance under awards granted pursuant to the Amended and Restated 2011 Plan, and as of December 31, 2022, 2,183,962 shares of common stock remain available for future issuance. The following shares of restricted common stock have been issued as of December 31, 2022: Grant Fair Value at Grant Date Number June 9, 2020 (1) $33.29 6,008 December 4, 2020 (2) 19.02 - 20.83 311,566 June 8, 2021 (1) 38.59 5,184 December 9, 2021 (3) 24.27 - 25.17 224,635 June 7, 2022 (1) 32.94 6,072 December 7, 2022 (4) $18.53 - $19.52 319,610 (1) Restricted common stock issued to members of the company's non-employee directors. These awards of restricted stock will vest subject to the director's continued service on the Board of Directors on the earlier of (i) the one year anniversary of the date of grant or (ii) the date of the next annual meeting of our stockholders, if such non-employee director continues his or her service on the Board of Directors until the next annual meeting of stockholders, but not thereafter, pursuant to our independent director compensation policy. (2) Restricted common stock issued to certain of the company's senior management and other employees, which are subject to quantitative and qualitative performance criteria based vesting. Up to one-third of the shares of restricted stock may vest based on such performance criteria determined as of November 30, 2021, 2022 and 2023, subject to the employee's continued employment on those dates. (3) Restricted common stock issued to certain of the company's senior management and other employees, which are subject to quantitative and qualitative performance criteria based vesting. Up to one-third of the shares of restricted stock may vest based on such performance criteria determined as of November 30, 2022, 2023 and 2024, subject to the employee's continued employment on those dates. (4) Restricted common stock issued to certain of the company's senior management and other employees, which are subject to quantitative and qualitative performance criteria based vesting. Up to one-third of the shares of restricted stock may vest based on such performance criteria determined as of November 30, 2023, 2024 and 2025, subject to the employee's continued employment on those dates. For the 2019 grants and 2020 grants, the fair value of the awards was estimated using a Monte Carlo Simulation model. Our stock price, along with the stock prices of the group of peer REITs, is assumed to follow the Multivariate Geometric Brownian Motion Process. Multivariate Geometric Brownian Motion is a common assumption when modeling in financial markets, as it allows the modeled quantity (in this case, the stock price) to vary randomly from its current value and take any value greater than zero. The volatilities of the returns on the stock price of the company and the group REITs were estimated based on a three For the 2021 grants and 2022 grants, the fair value of the awards was estimated using a Monte Carlo Simulation model. For the 2021 and 2022 grants vesting is subject to multiple vesting conditions as follows: (1) a service condition which requires continued employment of the employee as of each vesting date during the three-year vesting term for the employee to be eligible for vesting, (2) a performance condition with respect to our FFO per share for the FFO performance periods and (3) a market condition with respect to our relative total shareholder return performance over a one-year, two-year and three-year performance as compared to a pre-determined index. On each measurement date the performance condition and market condition performance will determine the number of shares that vest. We measure stock-based compensation expense based on the fair value of the award on the grant date, adjusted for changes to probabilities of achieving performance targets, and recognize expense over the vesting period. For the restricted stock grants that are time-vesting, issued to our non-employee directors, we estimate the stock compensation expense based on the fair value of the stock at the grant date. The following table summarizes the activity of non-vested restricted stock awards during the year ended December 31, 2022: 2022 Units Weighted Average Grant Date Fair Value Balance at beginning of year 487,397 $ 23.78 Granted 325,682 19.28 Vested (132,239) 24.86 Forfeited (106,796) 23.78 Balance at end of year 574,044 $ 20.98 We recognize noncash compensation expense ratably over the vesting period, and accordingly, we recognized $8.7 million, $8.5 million and $6.3 million in noncash compensation expense for the years ended December 31, 2022, 2021 and 2020, respectively, each of which is included in general and administrative expense on the statement of comprehensive income. Unrecognized compensation expense was $9.4 million at December 31, 2022, which will be recognized over a weighted-average period of 1.52 years . 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. For the years ended December 31, 2022, 2021 and 2020, we had a weighted average of approximately 489,765 shares, 485,202 shares and 357,048 unvested shares outstanding, respectively, which are considered participating securities. Therefore, we have allocated our earnings for basic and diluted EPS between common shares and unvested shares. Diluted EPS is calculated by dividing the net income attributable 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 year ended December 31, 2022, 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. Earnings Per Unit of the Operating Partnership Basic earnings (loss) per unit (“EPU”) of the Operating Partnership is computed by dividing income (loss) 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 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 (losses). The calculation of diluted earnings per unit for the year ended December 31, 2022, 2021 and 2020 does not include 489,765, 485,202, and 357,048 unvested weighted average Operating Partnership units, respectively, as these equity securities are either considered contingently issuable or the effect of including these equity securities was anti-dilutive. The computation of basic and diluted EPS for American Assets Trust, Inc. is presented below (dollars in thousands, except share and per share amounts): Year Ended December 31, 2022 2021 2020 NUMERATOR Net income $ 55,877 $ 36,593 $ 35,588 Less: Net income attributable to restricted shares (648) (564) (383) Less: Income attributable to unitholders in the Operating Partnership (11,723) (7,653) (7,545) Net income attributable to common stockholders—basic $ 43,506 $ 28,376 $ 27,660 Income attributable to American Assets Trust, Inc. common stockholders—basic $ 43,506 $ 28,376 $ 27,660 Plus: Income attributable to unitholders in the Operating Partnership 11,723 7,653 7,545 Net income attributable to common stockholders—diluted $ 55,229 $ 36,029 $ 35,205 DENOMINATOR Weighted average common shares outstanding—basic 60,048,970 59,990,740 59,806,309 Effect of dilutive securities—conversion of Operating Partnership units 16,181,537 16,181,537 16,313,454 Weighted average common shares outstanding—diluted 76,230,507 76,172,277 76,119,763 Earnings per common share, basic $ 0.72 $ 0.47 $ 0.46 Earnings per common share, diluted $ 0.72 $ 0.47 $ 0.46

INCOME TAXES (Notes)

INCOME TAXES (Notes)	12 Months Ended
	Dec. 31, 2022
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 taxable year ended December 31, 2011. As a REIT, we are generally not subject to corporate level income tax on the earnings distributed currently to our stockholders. 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 asset is included in our consolidated balance sheets of $0.7 million and $0.6 million, and a deferred tax liability is included in our consolidated balance sheets of $0.9 million and $1.0 million as of December 31, 2022 and 2021, respectively, in relation to real estate asset basis differences and prepaid expenses for our TRS. The income tax provision included in other (expense) income on the consolidated statement of comprehensive income is as follows (in thousands): Year Ended December 31, 2022 2021 2020 Current: Federal $ — $ — $ (542) State 1,063 483 412 Deferred: Federal 8 118 (80) State (221) 137 201 Provision for income taxes (benefit) $ 850 $ 738 $ (9)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2022
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 tenants' operations at our properties. Commitments See Footnote 13 for description of our leases, as a lessee. 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 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. Additionally, we have entered into a management agreement with Outrigger pursuant to which Outrigger manages our Waikele Center and Shops at Kalakaua. In connection with such management agreement, we pay Outrigger a fixed management fee of $12,000 per month in the aggregate plus additional amounts for any lease renewal services provided by Outrigger at our request. This management agreement may be terminated by us at any time and for any reason on at least 30 days' notice without payment of any cancellation or termination fees. 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 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 $6.0 million based on operating performance through December 31, 2022. Our Del Monte Center property has ongoing environmental remediation related to ground water contamination. The environmental issue existed at purchase and is currently in the final stages of remediation. The final stages of the remediation will include routine, long term ground monitoring by the appropriate regulatory agency over the next five years to seven years years. The work performed is financed through an escrow account funded by the seller upon our 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. As of December 31, 2022, the company accrued approximately $6.6 million for transfer taxes in connection with its Offering. The company believes that it has filed all necessary forms with the requisite taxing authorities. Concentrations of Credit Risk Our properties are located in Southern California, Northern California, Washington, Oregon, Texas and Hawaii. 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. Fifteen of our consolidated properties, representing 40.2% of our total revenue for the year ended December 31, 2022, are located in Southern California, which exposes us to greater economic risks than if we owned a more geographically diverse portfolio. Our mixed-use property located in Honolulu, Hawaii accounted for 14.2% of total revenues for the year ended December 31, 2022. Tenants in the office industry accounted for 48.1% and 49.6% of total revenues for the years December 31, 2022 and 2021, respectively. 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. Tenants in the retail industry accounted for 23.9% and 25.2% of total revenues for the years December 31, 2022 and 2021, respectively. 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. Two retail properties, Alamo Quarry Market and Waikele Center, accounted for 9.0% and 9.1% of total revenues for the years ended December 31, 2022 and 2021, respectively. For the years ended December 31, 2022 and 2021, no tenant accounted for more than 10.0% of our total rental revenue. At December 31, 2022, Google LLC at The Landmark at One Market accounted for 9.4% of total annualized base rent. Three other tenants (LPL Holdings, Inc., Autodesk, Inc., and Smartsheet, Inc.) comprise 14.3% of our total annualized base rent at December 31, 2022, in the aggregate. No other tenants represent greater than 2.0% of our total annualized base rent. Total annualized base rent used for the percentage calculations includes the annualized base rent as of December 31, 2022 for our office properties, retail properties and the retail portion of our mixed-use property.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
LEASES	LEASES Lessor Operating Leases We determine if an arrangement is a lease at inception. Our lease agreements are generally for real estate, and the determination of whether such agreements contain leases generally does not require significant estimates or judgments. We lease real estate under 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 years 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. Our leases may also include variable lease payments in the form of percentage rents based on the tenant’s level of sales achieved in excess of a breakpoint threshold. Leases on apartments generally range from seven months to fifteen months, with a majority having 12 months lease terms. Rooms at the hotel portion of our mixed-use property are rented on a nightly basis. Leases at our office and retail properties and the retail portion of our mixed-use property may contain lease extension options, at our lessee's discretion. The extension options are generally for 3 to 10 years and contain primarily rent at fixed rates or the prevailing market rent. The extension options are generally exercisable 6 to 12 months prior to the expiration of the lease and require the lessee to not be in default of the lease terms. We attempt to maximize the amount we expect to derive from the underlying real estate property following the end of a lease, to the extent it is not extended. We maintain a proactive leasing and capital improvement program that, combined with the quality and locations of our properties, has made our properties attractive to tenants. However, the residual value of a real estate property is still subject to various market-specific, asset-specific, and tenant-specific risks and characteristics. At December 31, 2022, our office, retail and mixed-use properties are located in five states: California, Washington, Oregon, Texas and Hawaii. At December 31, 2022, we had approximately 894 leases with office and retail tenants, including the retail portion of our mixed-use property. Our multifamily properties are located in Southern California and Portland, Oregon, and we had 1,818 leases with residential tenants at December 31, 2022, excluding Santa Fe Park RV Resort. As of December 31, 2022, 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 for the years ended December 31 (in thousands): 2023 $ 249,967 2024 226,431 2025 202,843 2026 186,930 2027 163,204 Thereafter 298,683 Total $ 1,328,058 The above future minimum rentals exclude residential leases, which are typically range from seven months to fifteen months, and exclude the hotel, as rooms are rented on a nightly basis. Lessee Operating Leases We determine if an arrangement is a lease at inception. Our lease agreements are generally for real estate, and the determination of whether such agreements contain leases generally does not require significant estimates or judgments. We lease real estate under operating leases. At The Landmark at One Market, we lease, as lessee, a building adjacent to The Landmark at One Market under an operating lease effective through June 30, 2026, which we have the option to extend until 2031 by way of the remaining five years extension option (the "Annex Lease"). The lease payments under the extension option provided for under the Annex Lease will be equal to the fair rental value at the time the extension option is exercised. The extension option is included in the calculation of the right-of-use asset and lease liability as we are reasonably certain of exercising the extension option. In March 2020, we exercised a five years extension option to extend the Annex Lease through June 30, 2026, which was memorialized in a lease amendment executed in August 2020 that additionally modified other certain lease payment terms. Our lease agreements do not contain any residual value guarantees or material restrictive covenants. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement in determining the present value of lease payments. Current annual payments under the operating leases are as follows, as of December 31, 2022 (in thousands): Year Ending December 31, 2023 $ 3,328 2024 3,428 2025 3,531 2026 3,584 2027 3,584 Thereafter 12,543 Total lease payments $ 29,998 Imputed interest (4,322) Present value of lease liability $ 25,676 Lease costs under the operating leases are as follows (in thousands): Year Ended December 31, 2022 2021 Operating lease cost $ 3,377 $ 3,926 Sublease income (3,416) (3,634) Total lease (income) cost $ (39) $ 292 Weighted-average remaining lease term - operating leases (in years) 8.5 Weighted-average discount rate - operating leases 3.19 % Supplemental cash flow information and non-cash activity related to our operating leases are as follow (in thousands): Year Ended December 31, 2022 2021 Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 3,232 $ 2,791 Subleases At The Landmark at One Market, we (as sublandlord) sublease the Annex Lease building under operating leases effective through December 31, 2029. The subleases contain extension options, subject to our ability to extend the Annex Lease, that can extend the subleases through December 31, 2039 at the fair rental value at the time the extension option is exercised.
LEASES	LEASES Lessor Operating Leases We determine if an arrangement is a lease at inception. Our lease agreements are generally for real estate, and the determination of whether such agreements contain leases generally does not require significant estimates or judgments. We lease real estate under 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 years 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. Our leases may also include variable lease payments in the form of percentage rents based on the tenant’s level of sales achieved in excess of a breakpoint threshold. Leases on apartments generally range from seven months to fifteen months, with a majority having 12 months lease terms. Rooms at the hotel portion of our mixed-use property are rented on a nightly basis. Leases at our office and retail properties and the retail portion of our mixed-use property may contain lease extension options, at our lessee's discretion. The extension options are generally for 3 to 10 years and contain primarily rent at fixed rates or the prevailing market rent. The extension options are generally exercisable 6 to 12 months prior to the expiration of the lease and require the lessee to not be in default of the lease terms. We attempt to maximize the amount we expect to derive from the underlying real estate property following the end of a lease, to the extent it is not extended. We maintain a proactive leasing and capital improvement program that, combined with the quality and locations of our properties, has made our properties attractive to tenants. However, the residual value of a real estate property is still subject to various market-specific, asset-specific, and tenant-specific risks and characteristics. At December 31, 2022, our office, retail and mixed-use properties are located in five states: California, Washington, Oregon, Texas and Hawaii. At December 31, 2022, we had approximately 894 leases with office and retail tenants, including the retail portion of our mixed-use property. Our multifamily properties are located in Southern California and Portland, Oregon, and we had 1,818 leases with residential tenants at December 31, 2022, excluding Santa Fe Park RV Resort. As of December 31, 2022, 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 for the years ended December 31 (in thousands): 2023 $ 249,967 2024 226,431 2025 202,843 2026 186,930 2027 163,204 Thereafter 298,683 Total $ 1,328,058 The above future minimum rentals exclude residential leases, which are typically range from seven months to fifteen months, and exclude the hotel, as rooms are rented on a nightly basis. Lessee Operating Leases We determine if an arrangement is a lease at inception. Our lease agreements are generally for real estate, and the determination of whether such agreements contain leases generally does not require significant estimates or judgments. We lease real estate under operating leases. At The Landmark at One Market, we lease, as lessee, a building adjacent to The Landmark at One Market under an operating lease effective through June 30, 2026, which we have the option to extend until 2031 by way of the remaining five years extension option (the "Annex Lease"). The lease payments under the extension option provided for under the Annex Lease will be equal to the fair rental value at the time the extension option is exercised. The extension option is included in the calculation of the right-of-use asset and lease liability as we are reasonably certain of exercising the extension option. In March 2020, we exercised a five years extension option to extend the Annex Lease through June 30, 2026, which was memorialized in a lease amendment executed in August 2020 that additionally modified other certain lease payment terms. Our lease agreements do not contain any residual value guarantees or material restrictive covenants. As our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement in determining the present value of lease payments. Current annual payments under the operating leases are as follows, as of December 31, 2022 (in thousands): Year Ending December 31, 2023 $ 3,328 2024 3,428 2025 3,531 2026 3,584 2027 3,584 Thereafter 12,543 Total lease payments $ 29,998 Imputed interest (4,322) Present value of lease liability $ 25,676 Lease costs under the operating leases are as follows (in thousands): Year Ended December 31, 2022 2021 Operating lease cost $ 3,377 $ 3,926 Sublease income (3,416) (3,634) Total lease (income) cost $ (39) $ 292 Weighted-average remaining lease term - operating leases (in years) 8.5 Weighted-average discount rate - operating leases 3.19 % Supplemental cash flow information and non-cash activity related to our operating leases are as follow (in thousands): Year Ended December 31, 2022 2021 Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 3,232 $ 2,791 Subleases At The Landmark at One Market, we (as sublandlord) sublease the Annex Lease building under operating leases effective through December 31, 2029. The subleases contain extension options, subject to our ability to extend the Annex Lease, that can extend the subleases through December 31, 2039 at the fair rental value at the time the extension option is exercised.

COMPONENTS OF RENTAL INCOME AND

COMPONENTS OF RENTAL INCOME AND EXPENSE	12 Months Ended
	Dec. 31, 2022
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): Year Ended December 31, 2022 2021 2020 Minimum rents Office $ 196,793 $ 180,704 $ 170,853 Retail 95,574 89,326 82,176 Multifamily 53,816 48,654 47,071 Mixed-Use 11,590 9,901 7,302 Percentage rent 4,004 4,337 3,516 Hotel revenue 38,115 24,935 17,209 Other 2,615 2,351 2,185 Total rental income $ 402,507 $ 360,208 $ 330,312 Minimum rents include $5.9 million, $14.0 million and $18.9 million for the years ended December 31, 2022, 2021 and 2020, respectively, to recognize minimum rents on a straight-line basis. In addition, minimum rents include $3.3 million, $3.2 million and $3.9 million for the years ended December 31, 2022, 2021 and 2020, respectively, to recognize the amortization of above and below market leases. The principal components of rental expenses are as follows (in thousands): Year Ended December 31, 2022 2021 2020 Rental operating $ 47,832 $ 41,488 $ 38,194 Hotel operating 25,833 17,518 13,691 Repairs and maintenance 22,222 18,113 17,813 Marketing 2,379 1,779 2,023 Rent 3,215 4,023 3,955 Hawaii excise tax 4,081 2,792 2,479 Management fees 2,083 1,267 1,023 Total rental expenses $ 107,645 $ 86,980 $ 79,178

OTHER (EXPENSE) INCOME

OTHER (EXPENSE) INCOME	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
OTHER (EXPENSE) INCOME	OTHER (EXPENSE) INCOME The principal components of other (expense) income, net are as follows (in thousands): Year Ended December 31, 2022 2021 2020 Interest and investment income $ 225 $ 324 $ 436 Income tax (expense) benefit (850) (738) 9 Other non-operating (expense) income — (4) 2 Total other (expense) income $ (625) $ (418) $ 447

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS During the first quarter of 2019, we terminated the lease agreement with American Assets, Inc. ("AAI"), an entity owned and controlled by Mr. Rady, and entered into a new lease agreement with AAI for office space at Torrey Reserve Campus. Rents commenced on March 1, 2019 for an initial lease term of three years at an average annual rental rate of $0.2 million. During the third quarter of 2020, we entered into a new lease with AAI for office space at Torrey Point to replace its existing lease at Torrey Reserve Campus. Rents commenced on March 1, 2021 for an initial lease term of ten years at an average annual rental rate of $0.2 million. Rental revenue recognized on the leases of $0.3 million, $0.3 million and $0.2 million for the years ended December 31, 2022, 2021 and 2020, respectively, is included in rental income on the consolidated statements of comprehensive income. At Torrey Reserve Campus, we lease space to EDisability, LLC, an entity majority owned and controlled by Mr. Rady. During the fourth quarter of 2020, we entered into a lease termination agreement with EDisability, LLC and entered into a new lease agreement for office space at Torrey Reserve Campus. Rents under the new lease agreement commenced on June 1, 2021 for an initial three years at an average rental rate of $0.1 million. Rent revenue recognized on the lease of $0.1 million, $0.1 million and $0.2 million for the years ended December 31, 2022, 2021 and 2020, respectively, is included in rental income on the consolidated statements of comprehensive income. On occasion, the company utilizes aircraft services provided by AAI Aviation, Inc. ("AAIA"), an entity owned and controlled by Mr. Rady. For the years ending December 31, 2022, 2021 and 2020, we incurred approximately $0.2 million, $0.2 million and $0.0 million, respectively, of expenses related to aircraft services of AAIA or reimbursement to Mr. Rady (or his trust) for use of the aircraft owned by AAIA. These expenses are recorded as general and administrative expenses in our consolidated statements of comprehensive income. As of December 31, 2022, Mr. Rady and his affiliates owned approximately 15.5% of our outstanding common stock and 19.4% of our outstanding common units, which together represent an approximate 34.7% beneficial interest in our company on a fully diluted basis. 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 $1.3 million, $1.0 million and $1.0 million were made for the years ended December 31, 2022, 2021 and 2020, respectively, and included in rental expenses on the statements of comprehensive income.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2022
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 review operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. However, we have aggregated our properties into reportable segments as the properties share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies. 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): Year Ended December 31, 2022 2021 2020 Total Office Property revenue $ 203,391 $ 186,366 $ 177,554 Property expense (57,478) (50,233) (47,424) Segment profit 145,913 136,133 130,130 Total Retail Property revenue 100,912 94,662 88,280 Property expense (30,306) (27,983) (27,374) Segment profit 70,606 66,679 60,906 Total Multifamily Property revenue 58,139 52,315 50,327 Property expense (26,256) (23,211) (22,074) Segment profit 31,883 29,104 28,253 Total Mixed-Use Property revenue 60,206 42,485 28,412 Property expense (38,393) (28,347) (24,247) Segment profit 21,813 14,138 4,165 Total segments’ profit $ 270,215 $ 246,054 $ 223,454 The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands): Year Ended December 31, 2022 2021 2020 Total segments' profit $ 270,215 $ 246,054 $ 223,454 General and administrative (32,143) (29,879) (26,581) Depreciation and amortization (123,338) (116,306) (108,292) Interest expense (58,232) (58,587) (53,440) Loss on early extinguishment of debt — (4,271) — Other (expense) income, net (625) (418) 447 Net income 55,877 36,593 35,588 Net income attributable to restricted shares (648) (564) (383) Net income attributable to unitholders in the Operating Partnership (11,723) (7,653) (7,545) Net income attributable to American Assets Trust, Inc. stockholders $ 43,506 $ 28,376 $ 27,660 The following table shows net real estate and secured note payable balances for each of the segments, along with their capital expenditures for each year (in thousands): December 31, 2022 December 31, 2021 Net real estate Office $ 1,615,479 $ 1,536,212 Retail 579,219 591,107 Multifamily 370,993 381,315 Mixed-Use 168,865 173,347 $ 2,734,556 $ 2,681,981 Secured Notes Payable (1) Office $ 75,000 $ 111,000 Retail — — $ 75,000 $ 111,000 Capital Expenditures (2) Office $ 102,443 $ 93,116 Retail 12,177 7,232 Multifamily 4,889 5,841 Mixed-Use 1,646 1,541 $ 121,155 $ 107,730 (1) Excludes unamortized debt issuance costs of $0.4 million and $0.0 million as of December 31, 2022 and 2021, respectively. (2) Capital expenditures represent cash paid for capital expenditures during the year and includes leasing commissions paid.

QUARTERLY FINANCIAL INFORMATION

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL INFORMATION (UNAUDITED)	QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The tables below reflect selected American Assets Trust, Inc. quarterly information for 2022 and 2021 (in thousands, except per shares data): Three Months Ended December 31, September 30, June 30, March 31, Total revenue $ 106,000 $ 111,023 $ 104,155 $ 101,470 Operating income 27,073 31,003 28,316 28,342 Net income 12,406 16,369 13,588 13,514 Net income attributable to restricted shares (184) (155) (154) (155) Net income attributable to unitholders in the Operating Partnership (2,593) (3,442) (2,852) (2,836) Net income attributable to American Assets Trust, Inc. stockholders $ 9,629 $ 12,772 $ 10,582 $ 10,523 Net income per share attributable to common stockholders - basic and diluted $ 0.16 $ 0.21 $ 0.18 $ 0.18 Three Months Ended December 31, September 30, June 30, March 31, Total revenue $ 101,747 $ 98,286 $ 91,809 $ 83,986 Operating income 25,715 27,669 26,423 20,062 Net income 10,478 12,895 11,487 1,733 Net income attributable to restricted shares (147) (145) (135) (137) Net income attributable to unitholders in the Operating Partnership (2,194) (2,709) (2,411) (339) Net income attributable to American Assets Trust, Inc. stockholders $ 8,137 $ 10,041 $ 8,941 $ 1,257 Net income per share attributable to common stockholders - basic and diluted $ 0.14 $ 0.17 $ 0.15 $ 0.02 The tables below reflect selected American Assets Trust, L.P. quarterly information for 2022 and 2021 (in thousands, except per shares data): Three Months Ended December 31, September 30, June 30, March 31, Total revenue $ 106,000 $ 111,023 $ 104,155 $ 101,470 Operating income 27,073 31,003 28,316 28,342 Net income 12,406 16,369 13,588 13,514 Net income attributable to restricted shares (184) (155) (154) (155) Net income attributable to American Assets Trust, L.P. unit holders $ 12,222 $ 16,214 $ 13,434 $ 13,359 Net income per unit attributable to unit holders - basic and diluted $ 0.16 $ 0.21 $ 0.18 $ 0.18 Three Months Ended December 31, September 30, June 30, March 31, Total revenue $ 101,747 $ 98,286 $ 91,809 $ 83,986 Operating income 25,715 27,669 26,423 20,062 Net income 10,478 12,895 11,487 1,733 Net income attributable to restricted shares (147) (145) (135) (137) Net income attributable to American Assets Trust, L.P. unit holders $ 10,331 $ 12,750 $ 11,352 $ 1,596 Net income per unit attributable to common unit holders - basic and diluted $ 0.14 $ 0.17 $ 0.15 $ 0.02

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On January 3, 2023, we entered into a settlement agreement relating to certain building systems at our Hassalo on Eighth in which we received a net settlement payment of approximately $6.3 million. On January 5, 2023, we entered into the Amended and Restated Term Loan Agreement, which increased the aggregate, unsecured borrowings from $150 million to $225 million and extended the maturity date of Term Loan B and Term Loan C from March 1, 2023 to January 5, 2025, with one, twelve-month extension option, subject to certain conditions. On January 6, 2023, we repaid in full the $36 million outstanding balance on our revolving line of credit under our Third Amended and Restated Credit Facility.

SCHEDULE III-Consolidated Real

SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation	Encumbrance as of December 31, 2022 Initial Cost Cost Capitalized Subsequent to Acquisition Gross Carrying Amount Accumulated Year Built/ Date Acquired Life on which depreciation in latest income statements is computed Description Land Building and Land Building and Alamo Quarry Market $ — $ 26,396 $ 109,294 $ 26,226 $ 26,816 $ 135,100 $ (72,135) 1997/1999 12/9/2003 35 years Carmel Country Plaza — 4,200 — 13,609 4,200 13,609 (9,790) 1991 1/10/1989 35 years Carmel Mountain Plaza — 22,477 65,217 40,192 31,034 96,852 (53,546) 1994/2014 3/28/2003 35 years Del Monte Center — 27,412 87,570 33,250 27,117 121,115 (74,353) 1967/1984/2006 4/8/2004 35 years Gateway Marketplace — 17,363 21,644 1,239 17,363 22,883 (4,633) 1997/2016 7/6/2017 35 years Geary Marketplace — 8,239 12,353 227 8,239 12,580 (3,996) 2012 12/19/2012 35 years Hassalo on Eighth - Retail — — — 28,688 597 28,091 (9,188) 2015 7/1/2011 35 years Lomas Santa Fe Plaza — 8,600 11,282 14,207 8,620 25,469 (19,510) 1972/1997 6/12/1995 35 years The Shops at Kalakaua — 13,993 10,817 144 14,006 10,948 (5,695) 1971/2006 3/31/2005 35 years Solana Beach Towne Centre — 40,980 38,842 4,785 40,980 43,627 (16,625) 1973/2000/2004 1/19/2011 35 years South Bay Marketplace — 4,401 — 13,034 4,401 13,034 (8,772) 1997 9/16/1995 35 years Waikele Center — 55,593 126,858 44,974 70,644 156,781 (76,642) 1993/2008 9/16/2004 35 years City Center Bellevue 75,000 25,135 190,998 51,599 25,135 242,597 (75,340) 1987 8/21/2012 40 years Eastgate Office Park — 35,822 82,737 1,243 35,822 83,980 (4,805) 1985 7/7/2021 40 years Corporate Campus East III — 23,203 55,992 2,918 23,203 58,910 (2,612) 1986 9/10/2021 40 years Bel-Spring 520 — 13,744 30,339 22 13,744 30,361 (1,007) 1983 3/8/2022 40 years First & Main — 14,697 109,739 11,565 14,697 121,304 (41,405) 2010 3/11/2011 40 years The Landmark at One Market — 34,575 141,196 34,632 34,575 175,828 (55,366) 1917/2000 6/30/2010 40 years Lloyd Portfolio — 18,660 61,401 105,236 11,845 173,452 (58,036) 1940-2015 7/1/2011 40 years One Beach Street — 15,332 18,017 37,688 15,332 55,705 (4,456) 1924/1972/1987/1992 1/24/2012 40 years Solana Crossing: Solana Crossing I-II — 7,111 17,100 8,904 7,111 26,004 (9,131) 1982/2005 1/19/2011 40 years Solana Crossing III-IV — 7,298 27,887 7,474 7,298 35,361 (11,814) 1982/2005 1/19/2011 40 years Solana Crossing Land — 487 — 60 547 — — N/A 1/19/2011 N/A Torrey Reserve Campus: Torrey Plaza — 4,095 — 64,054 5,408 62,741 (25,708) 1996-1997/2014 6/6/1989 40 years Pacific North Court — 3,263 — 32,234 4,309 31,188 (14,940) 1997-1998 6/6/1989 40 years Pacific South Court — 3,285 — 39,937 4,226 38,996 (18,644) 1996-1997 6/6/1989 40 years Pacific VC — 1,413 — 10,677 2,148 9,942 (6,380) 1998/2000 6/6/1989 40 years Pacific Torrey Daycare — 715 — 1,963 911 1,767 (1,097) 1996-1997 6/6/1989 40 years Torrey Reserve Building 6 — — — 8,013 682 7,331 (2,660) 2013 6/6/1989 40 years Torrey Reserve Building 5 — — — 4,012 1,017 2,995 (839) 2014 6/6/1989 40 years Torrey Reserve Building 13 & 14 — — — 16,157 2,188 13,969 (4,362) 2015 6/6/1989 40 years Torrey Point — 2,073 741 49,815 5,050 47,579 (7,707) 2018 5/9/1997 40 years La Jolla Commons La Jolla Commons I-II — 62,312 393,662 3,761 62,312 397,423 (46,846) 2008-2014 6/20/2019 40 years La Jolla Commons Land — 20,446 — 93,190 20,446 93,190 — N/A 6/20/2019 N/A Imperial Beach Gardens — 1,281 4,820 6,767 1,281 11,587 (9,029) 1959/2008 7/31/1985 30 years Loma Palisades — 14,000 16,570 36,980 14,052 53,498 (33,405) 1958/2001 - 2008/2021 7/20/1990 30 years Mariner’s Point — 2,744 4,540 2,250 2,744 6,790 (4,513) 1986 5/9/2001 30 years Encumbrance as of December 31, 2022 Initial Cost Cost Capitalized Subsequent to Acquisition Gross Carrying Amount Accumulated Year Built/ Date Acquired Life on which depreciation in latest income statements is computed Description Land Building and Land Building and Santa Fe Park RV Resort — 401 928 1,539 401 2,467 (1,687) 1971/2007-2008 6/1/1979 30 years Pacific Ridge Apartments — 47,971 178,497 3,479 47,971 181,976 (38,188) 2013 4/28/2017 30 years Hassalo on Eighth - Multifamily — — — 178,564 6,219 172,345 (43,513) 2015 7/1/2011 30 years Waikiki Beach Walk: Retail — 45,995 74,943 1,024 45,995 75,967 (27,336) 2006 1/19/2011 35 years Hotel — 30,640 60,029 14,772 30,640 74,801 (31,202) 2008/2014/2020 1/19/2011 35 years $ 75,000 $ 666,352 $ 1,954,013 $ 1,051,104 $ 701,326 $ 2,970,143 $ (936,913) Year Ended December 31, 2022 2021 2020 Real estate assets Balance, beginning of period $ 3,529,371 3,246,874 3,188,697 Additions: Property acquisitions 44,076 197,754 — Improvements 116,613 93,455 64,997 Deductions: Cost of Real Estate Sold — — — Other (1) (18,591) (8,712) (6,820) Balance, end of period $ 3,671,469 $ 3,529,371 $ 3,246,874 Accumulated depreciation Balance, beginning of period $ 847,390 $ 754,140 $ 665,222 Additions—depreciation 108,118 101,962 95,738 Deductions: Cost of Real Estate Sold — — — Other (1) (18,595) (8,712) (6,820) Balance, end of period $ 936,913 $ 847,390 $ 754,140 (1) Other deductions for the years ended December 31, 2022, 2021 and 2020 represent the write-off of fully depreciated assets.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2022
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 (the “Offering”) and the related acquisition on January 19, 2011 of certain assets of a combination of entities whose assets included entities owned and/or controlled by Ernest S. Rady and his affiliates, including the Rady Trust, which in turn owned (1) controlling interests in entities owning 17 properties and the property management business of American Assets, Inc. and (2) noncontrolling interests in entities owning four properties. 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 REIT subsidiary. 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 vertically integrated and self-administered REIT with 216 employees providing substantial in-house expertise in asset management, property management, property development, leasing, tenant improvement construction, acquisitions, repositioning, redevelopment and financing. Any reference to the number of properties or units, square footage or acres, employees; or references to beneficial ownership interests, are unaudited and outside the scope of our independent registered public accounting firm's audit of our financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. As of December 31, 2022, we owned or had a controlling interest in 31 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as of December 31, 2022, we owned land at three of our properties that we classify as held for development and 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 La Jolla Commons One Beach Street Corporate Campus East III Torrey Reserve Campus First & Main Bel-Spring 520 Torrey Point Lloyd Portfolio Solana Crossing City Center Bellevue The Landmark at One Market Eastgate Office Park Multifamily Loma Palisades Hassalo on Eighth - Multifamily Imperial Beach Gardens Mariner's Point Santa Fe Park RV Resort Pacific Ridge Apartments Mixed-Use Waikiki Beach Walk Retail and Embassy Suites™ Hotel Held for Development and Construction in Progress La Jolla Commons - Construction in Progress Solana Crossing – Land Lloyd 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. The Company follows the Financial Accounting Standards Board (the "FASB") guidance for determining whether an entity is a variable interest entity (“VIE”) and requires the performance of a qualitative rather than a quantitative analysis to determine the primary beneficiary of a VIE. Under this guidance, an entity would be required to consolidate a VIE if it has (i) the power to direct the activities that most significantly impact the entity’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. American Assets Trust, Inc. has concluded that the Operating Partnership is a VIE, and because American Assets Trust, Inc. has both the power and the rights to control the Operating Partnership, American Assets Trust, Inc. is the primary beneficiary and is required to continue to consolidate the Operating Partnership. Substantially all of the assets and liabilities of the Company are related to the operating partnership VIE. All intercompany transactions and balances are eliminated in consolidation.
Use of Estimates	Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” requires management 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 management's best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.
Consolidated Statements of Cash Flows-Supplemental Disclosures	Consolidated Statements of Cash Flows-Supplemental Disclosures The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands): Year Ended December 31, 2022 2021 2020 Supplemental cash flow information Total interest costs incurred $ 63,997 $ 61,578 $ 54,510 Interest capitalized $ 5,765 $ 2,991 $ 1,070 Interest expense, net $ 58,232 $ 58,587 $ 53,440 Cash paid for interest, net of amounts capitalized $ 56,060 $ 50,970 $ 53,467 Cash paid for income taxes $ 865 $ 356 $ 844 Supplemental schedule of noncash investing and financing activities Accounts payable and accrued liabilities for construction in progress $ 20,832 $ 18,697 $ 22,884 Accrued leasing commissions $ 2,442 $ 2,628 $ 555
Revenue Recognition and Accounts Receivable	Revenue Recognition and Accounts Receivable Our leases with tenants are classified as operating leases. Substantially all such leases contain fixed rent escalations which occur at specified times during the term of the lease. Base rents are recognized on a straight-line basis from when the tenant controls the space through the term of the related lease, based on management's assessment of credit, collection and other business risks. When we determine that we are the owner of tenant improvements and the tenant has reimbursed us for a portion or all of the tenant improvement costs, we consider the amount paid to be additional rent, which is recognized on a straight-line basis over the term of the related lease. For first generation tenants, in instances in which we fund tenant improvements and the improvements are deemed to be owned by us, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When we determine that the tenant is the owner of tenant improvements, tenant allowances are recorded as lease incentives and we commence revenue recognition and lease incentive amortization when possession or control of the space is turned over to the tenant for tenant work to begin. Percentage rents, which represent additional rents based upon the level of sales achieved by certain tenants, are recognized at the end of the lease year or earlier if we have determined the required sales level is achieved and the percentage rents are collectible. Real estate tax and other cost reimbursements are recognized on an accrual basis over the periods in which the related expenditures are incurred. Other property income includes parking income, general excise tax billed to tenants and fees charged to tenants at our multifamily properties. Other property income is recognized when we satisfy performance obligations as evidenced by the transfer of control of our services to customers. We measure other property income based on the amount of consideration we expect to be entitled to in exchange for the services provided. We recognize general excise tax gross, with the amounts billed to tenants and customers recorded in other property income and the related taxes paid as rental expense. The general excise tax included in other income was $3.4 million, $2.5 million and $2.3 million for the years ended December 31, 2022, 2021 and 2020, respectively. For a tenant to terminate its lease agreement prior to the end of the agreed term, we may require that they pay a fee to cancel the lease agreement. Lease termination fees for which the tenant has relinquished control of the space are generally recognized on the later of the termination date or the satisfaction of all conditions precedent to the lease termination, including, without limitation, payment of all lease termination fees. When a lease is terminated early but the tenant continues to control the space under a modified lease agreement, the lease termination fee is generally recognized evenly over the remaining term of the modified lease agreement. Current accounts receivable from tenants primarily relate to contractual minimum rent and percentage rent as well as real estate tax and other cost reimbursements. Accounts receivable from straight-line rent is typically longer term in nature and relates to the cumulative amount by which straight-line rental income recorded to date exceeds cash rents billed to date under the contractual lease agreement. We recognize revenue on the hotel portion of our mixed-use property from the rental of hotel rooms and guest services when we satisfy performance obligations as evidenced by the transfer of control when the rooms are occupied and services have been provided. Food and beverage sales are recognized when the customer has been served or at the time the transaction occurs. Revenue from room rental is included in rental revenue on the statement of comprehensive income. Revenue from other sales and services provided is included in other property income on the statement of comprehensive income. We make estimates of the collectability of our current accounts receivable and straight-line rents receivable which requires significant judgment by management. The collectability of receivables is affected by numerous different factors including current economic trends, including the impact of the COVID-19 on tenant's businesses and changes in tenants' payment patterns, tenant bankruptcies, the status of collectability of current cash rents receivable, tenants' recent and historical financial and operating results, changes in our tenants' credit ratings, communications between our operating personnel and tenants, the extent of security deposits and letters of credits held with respect to tenants, and the ability of the tenant to perform under the terms of their lease agreement when evaluating the adequacy of the allowance for doubtful accounts. If our assessment of these factors indicates that it is no longer probable that we will be able to collect substantially all rents, we recognize a charge to rental income and limit our rental income to the lesser of lease income on a straight-line basis plus variable rents when they become accruable or cash collected. If we change our conclusion regarding the probability of collecting rent payments required by a lessee, we may recognize an adjustment to rental income in the period we make a change to our prior conclusion. At December 31, 2022 and December 31, 2021, our allowance for doubtful accounts was $2.1 million and $4.6 million, respectively. Total collectability related adjustments for rental income, which includes the allowance for doubtful accounts and deferred rent receivables, was $2.3 million, $2.3 million and $18.4 million for the years ended December 31, 2022, 2021 and 2020, respectively.
Real Estate	Real Estate Land, buildings and improvements are recorded at cost. Depreciation is computed using the straight-line method. Estimated useful lives range generally from 30 years to a maximum of 40 years on buildings and major improvements. Minor improvements, furniture and equipment are capitalized and depreciated over useful lives ranging from 3 years to 15 years. Maintenance and repairs that do not improve or extend the useful lives of the related assets are charged to operations as incurred. Tenant improvements are capitalized and depreciated over the life of the related lease or their estimated useful life, whichever is shorter. If a tenant vacates its space prior to the contractual termination of its lease, the undepreciated balance of any tenant improvements are written off if they are replaced or have no future value. For the years ended December 31, 2022, 2021 and 2020, real estate depreciation expense was $108.1 million, $102.0 million and $95.8 million, respectively. Acquisitions of properties are accounted for in accordance with the authoritative accounting guidance on acquisitions and business combinations. Our methodology of allocating the cost of acquisitions to assets acquired and liabilities assumed is based on estimated fair values, replacement cost and appraised values. When we acquire operating real estate properties, the purchase price is allocated to land and buildings, intangibles such as in-place leases, and to current assets and liabilities acquired, if any. Such valuations include a consideration of the noncancelable terms of the respective leases as well as any applicable renewal periods. The fair values associated with below market renewal options are determined based on a review of several qualitative and quantitative factors on a lease-by-lease basis at acquisition to determine whether it is probable that the tenant would exercise its option to renew the lease agreement. These factors include: (1) the type of tenant in relation to the property it occupies, (2) the quality of the tenant, including the tenant's long term business prospects and (3) whether the fixed rate renewal option was sufficiently lower than the fair rental of the property at the date the option becomes exercisable such that it would appear to be reasonably assured that the tenant would exercise the option to renew. The value allocated to in-place leases is amortized over the related lease term and reflected as depreciation and amortization in the statement of comprehensive income. The value of above and below market leases associated with the original noncancelable lease terms are amortized to rental income over the terms of the respective noncancelable lease periods and are reflected as either an increase (for below market leases) or a decrease (for above market leases) to rental income in the statement of comprehensive income. The value of the leases associated with below market lease renewal options that are likely to be exercised are amortized to rental income over
Capitalized Costs	Capitalized CostsWe capitalize certain costs related to the development and redevelopment of real estate including pre-construction costs, real estate taxes, insurance and construction costs and salaries and related costs of personnel directly involved. Additionally, we capitalize interest costs related to development and significant redevelopment activities. Capitalization of these costs begins when the activities and related expenditures commence and cease when the project is substantially complete and ready for its intended use, at which time the project is placed in service and depreciation commences. Additionally, we make estimates as to the probability of certain development and redevelopment projects being completed. If we determine that the completion of development or redevelopment is no longer probable, we expense all capitalized costs which are not recoverable.
Impairment of Long Lived Assets	Impairment of Long Lived AssetsWe review for impairment on a property by property basis whenever events or changes in circumstances indicate that the carrying value of a property may not be fully recoverable. Impairment is recognized on properties held for use when the expected undiscounted cash flows for a property are less than its carrying amount at which time the property is written-down to fair value. Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. As discussed above, as a result of COVID-19, certain of the our tenants may be unable to operate their businesses, maintain profitability and make timely rental payments under their leases. Accordingly, the reduction of estimated future cash flows could result in the recognition of an impairment charge on certain of our long-lived assets.
Financial Instruments	Financial Instruments The estimated fair values of financial instruments are determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop estimated fair values. The use of different market assumptions or estimation methods may have a material effect on the estimated fair value amounts. Accordingly, estimated fair values are not necessarily indicative of the amounts that could be realized in current market exchanges.
Derivative Instruments	Derivative Instruments At times, we may use derivative instruments to manage exposure to variable interest rate risk. We may enter into interest rate swaps to manage our exposure to variable interest rate risk. If and when we enter into derivative instruments, we ensure that such instruments qualify as cash flow hedges and would not enter into derivative instruments for speculative purposes.
Cash and Cash Equivalents	Cash and Cash EquivalentsWe define cash and cash equivalents as cash on hand, demand deposits with financial institutions and short term liquid investments with an initial maturity of less than 3 months. Cash balances in individual banks may exceed the federally insured limit of $250,000 by the Federal Deposit Insurance Corporation (the "FDIC"). No losses have been experienced related to such accounts.
Restricted Cash	Restricted CashRestricted cash consists of amounts held by lenders to provide for future real estate tax expenditures, insurance expenditures and reserves for capital improvements.
Other Assets	Other AssetsOther assets consist primarily of lease costs, lease incentives, acquired in-place leases and acquired above market leases. Capitalized lease costs are direct costs incurred which were essential to originate a lease and would not have been incurred had the leasing transaction not taken place and include third party commissions related to obtaining a lease. Capitalized lease costs are amortized over the life of the related lease and included in depreciation and amortization expense on the statement of comprehensive income. If a tenant vacates its space prior to the contractual termination of its lease, the unamortized balance of any lease costs are written off. We view these lease costs as part of the up-front initial investment we made in order to generate a long-term cash inflow. Therefore, we classify cash outflows for lease costs as an investing activity in our consolidated statements of cash flows.
Variable Interest Entities	Variable Interest EntitiesCertain entities that do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties or in which equity investors do not have the characteristics of a controlling financial interest qualify as variable interest entities (“VIEs”). VIEs are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE is the party that has a controlling interest in the VIE. Identifying the party with the controlling interest requires a focus on which entity has the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (1) the obligation to absorb the expected losses of the VIE or (2) the right to receive the benefits from the VIE.
Stock-Based Compensation	Stock-Based Compensation We grant stock-based compensation awards to our employees and directors typically in the form of restricted shares of common stock, options to purchase common stock and/or shares of common stock. For the grants of market-based restricted stock awards in December 2019 (the “2019 grant”) and December 2020 grant (the “2020 grant”), we measure stock-based compensation expense based on the fair value of the award on the grant date and recognize the expense ratably over the vesting period.
Deferred Compensation	Deferred Compensation Our Operating Partnership has adopted the American Assets Trust Executive Deferral Plan V (“EDP V”) and the American Assets Trust Executive Deferral Plan VI (“EDP VI”). These plans were adopted by our Operating Partnership as successor plans to those deferred compensation plans maintained by American Assets, Inc. ("AAI") in which certain employees of AAI, who were transferred to us in connection with the Offering (the “Transferred Participants”), participated prior to the Offering. EDP V and EDP VI contain substantially the same terms and conditions as these predecessor plans. AAI transferred to our Operating Partnership the Transferred Participants' account balances under the predecessor plans. These transferred account balances represent amounts deferred by the Transferred Participants prior to the Offering while they were employed by AAI.
Income Taxes	Income Taxes We elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”), commencing with the taxable year ended December 31, 2011. To maintain our qualification as a REIT, we are required to distribute at least 90% of our REIT taxable income to our stockholders and meet the various other requirements imposed by the Code relating to such matters as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided we maintain our qualification for taxation as a REIT, we are generally not subject to corporate level income tax on the earnings distributed currently to our stockholders. If we fail to maintain our qualification as a REIT in any taxable year, and are unable to avail ourselves of certain savings provisions set forth in the Code, all of our taxable income would be subject to regular U.S. federal income tax. We are subject to certain state and local income taxes.
Segment Information	Segment InformationSegment information is prepared on the same basis that our management reviews information for operational decision-making purposes. We operate in four reportable segments: the acquisition, redevelopment, ownership and management of office real estate, retail 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 March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848)
Fair Value Measurements	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 The carrying values of cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued liabilities are reasonable estimates of fair value, using Level 1 inputs, because of the short-term nature of these instruments. 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 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 contracts 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 December 31, 2022 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.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Properties Owned	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 La Jolla Commons One Beach Street Corporate Campus East III Torrey Reserve Campus First & Main Bel-Spring 520 Torrey Point Lloyd Portfolio Solana Crossing City Center Bellevue The Landmark at One Market Eastgate Office Park Multifamily Loma Palisades Hassalo on Eighth - Multifamily Imperial Beach Gardens Mariner's Point Santa Fe Park RV Resort Pacific Ridge Apartments Mixed-Use Waikiki Beach Walk Retail and Embassy Suites™ Hotel Held for Development and Construction in Progress La Jolla Commons - Construction in Progress Solana Crossing – Land Lloyd Portfolio – Construction in Progress A summary of our real estate investments is as follows (in thousands): Retail Office Multifamily Mixed-Use Total December 31, 2022 Land $ 254,016 $ 298,007 $ 72,668 $ 76,635 $ 701,326 Buildings 529,589 1,316,916 397,731 129,470 2,373,706 Land improvements 49,512 15,284 8,132 2,606 75,534 Tenant improvements 92,225 221,163 — 2,353 315,741 Furniture, fixtures, and equipment 1,290 5,530 19,059 15,427 41,306 Construction in progress (1) 7,471 151,734 3,739 912 163,856 934,103 2,008,634 501,329 227,403 3,671,469 Accumulated depreciation (354,884) (393,155) (130,336) (58,538) (936,913) Net real estate $ 579,219 $ 1,615,479 $ 370,993 $ 168,865 $ 2,734,556 December 31, 2021 Land $ 254,016 $ 284,263 $ 72,668 $ 76,635 $ 687,582 Buildings 527,262 1,270,131 393,713 129,226 2,320,332 Land improvements 47,425 14,269 7,764 2,606 72,064 Tenant improvements 89,520 218,639 — 2,366 310,525 Furniture, fixtures, and equipment 1,098 5,003 18,039 15,416 39,556 Construction in progress (1) 7,160 87,340 4,448 364 99,312 926,481 1,879,645 496,632 226,613 3,529,371 Accumulated depreciation (335,374) (343,433) (115,317) (53,266) (847,390) Net real estate $ 591,107 $ 1,536,212 $ 381,315 $ 173,347 $ 2,681,981
Summary of Consolidated Statements of Cash Flows - Supplemental Disclosures	The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands): Year Ended December 31, 2022 2021 2020 Supplemental cash flow information Total interest costs incurred $ 63,997 $ 61,578 $ 54,510 Interest capitalized $ 5,765 $ 2,991 $ 1,070 Interest expense, net $ 58,232 $ 58,587 $ 53,440 Cash paid for interest, net of amounts capitalized $ 56,060 $ 50,970 $ 53,467 Cash paid for income taxes $ 865 $ 356 $ 844 Supplemental schedule of noncash investing and financing activities Accounts payable and accrued liabilities for construction in progress $ 20,832 $ 18,697 $ 22,884 Accrued leasing commissions $ 2,442 $ 2,628 $ 555

REAL ESTATE (Tables)

REAL ESTATE (Tables)	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Summary of Real Estate Investments	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 La Jolla Commons One Beach Street Corporate Campus East III Torrey Reserve Campus First & Main Bel-Spring 520 Torrey Point Lloyd Portfolio Solana Crossing City Center Bellevue The Landmark at One Market Eastgate Office Park Multifamily Loma Palisades Hassalo on Eighth - Multifamily Imperial Beach Gardens Mariner's Point Santa Fe Park RV Resort Pacific Ridge Apartments Mixed-Use Waikiki Beach Walk Retail and Embassy Suites™ Hotel Held for Development and Construction in Progress La Jolla Commons - Construction in Progress Solana Crossing – Land Lloyd Portfolio – Construction in Progress A summary of our real estate investments is as follows (in thousands): Retail Office Multifamily Mixed-Use Total December 31, 2022 Land $ 254,016 $ 298,007 $ 72,668 $ 76,635 $ 701,326 Buildings 529,589 1,316,916 397,731 129,470 2,373,706 Land improvements 49,512 15,284 8,132 2,606 75,534 Tenant improvements 92,225 221,163 — 2,353 315,741 Furniture, fixtures, and equipment 1,290 5,530 19,059 15,427 41,306 Construction in progress (1) 7,471 151,734 3,739 912 163,856 934,103 2,008,634 501,329 227,403 3,671,469 Accumulated depreciation (354,884) (393,155) (130,336) (58,538) (936,913) Net real estate $ 579,219 $ 1,615,479 $ 370,993 $ 168,865 $ 2,734,556 December 31, 2021 Land $ 254,016 $ 284,263 $ 72,668 $ 76,635 $ 687,582 Buildings 527,262 1,270,131 393,713 129,226 2,320,332 Land improvements 47,425 14,269 7,764 2,606 72,064 Tenant improvements 89,520 218,639 — 2,366 310,525 Furniture, fixtures, and equipment 1,098 5,003 18,039 15,416 39,556 Construction in progress (1) 7,160 87,340 4,448 364 99,312 926,481 1,879,645 496,632 226,613 3,529,371 Accumulated depreciation (335,374) (343,433) (115,317) (53,266) (847,390) Net real estate $ 591,107 $ 1,536,212 $ 381,315 $ 173,347 $ 2,681,981
Summary of Purchase Price Allocation	The financial information set forth below summarizes the company’s purchase price allocation for Bel-Spring 520 during the year ended December 31, 2022 (in thousands): Bel-Spring 520 Land $ 13,744 Building 27,793 Land improvements 713 Furniture, fixtures, and equipment 1,833 Total real estate 44,083 Lease intangibles 2,036 Prepaid expenses and other assets 10 Assets acquired $ 46,129 Accounts payable and accrued expenses $ (14) Security deposits payable (189) Other liabilities and deferred credits (641) Liabilities assumed $ (844)
Summary of Acquiree Operating Results Since Acquisition Date	The following table summarizes the operating results for Bel-Spring 520 included in the company's historical consolidated statement of operations for the period of acquisition through December 31, 2022 (in thousands): Bel-Spring 520 Revenues $ 2,512 Operating expenses 2,417 Operating income 95 Net income attributable to American Assets Trust, Inc. $ 95

ACQUIRED IN-PLACE LEASES AND _2

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Summary of acquired lease intangibles included in other assets and other liabilities	The following summarizes our acquired lease intangibles, which are included in other assets and other liabilities and deferred credits (in thousands): December 31, 2022 December 31, 2021 In-place leases $ 58,119 $ 67,215 Accumulated amortization (34,593) (38,130) Above market leases 1,885 2,532 Accumulated amortization (1,778) (2,383) Acquired lease intangible assets, net $ 23,633 $ 29,234 Below market leases $ 52,832 $ 58,655 Accumulated accretion (33,168) (36,253) Acquired lease intangible liabilities, net $ 19,664 $ 22,402 Increases (decreases) in net income as a result of amortization of our in-place leases, above market leases and below market leases are as follows (in thousands): Year Ended December 31, 2022 2021 2020 Amortization of in-place leases $ (7,188) $ (6,664) $ (5,018) Amortization of above market leases (41) (34) (62) Amortization of below market leases 3,348 3,271 3,994 $ (3,881) $ (3,427) $ (1,086)
Summary of Future Amortization for Acquired In-Place Leases	As of December 31, 2022, the amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows (in thousands): In-Place Above Market Below Market Year Ending December 31, 2023 $ 4,914 $ 41 $ 3,109 2024 4,499 38 2,742 2025 3,742 25 2,200 2026 3,387 3 1,776 2027 3,012 — 1,460 Thereafter 3,972 — 8,376 $ 23,526 $ 107 $ 19,664

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Summary of 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): December 31, 2022 December 31, 2021 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Deferred compensation liability $ — $ 2,411 $ — $ 2,411 $ — $ 2,503 $ — $ 2,503 Interest rate swap asset $ — $ 9,986 $ — $ 9,986 $ — $ — $ — $ — Interest rate swap liability $ — $ 196 $ — $ 196 $ — $ 1,807 $ — $ 1,807
Summary of Carrying Amount and Fair Value of Financial Instruments	A summary of the carrying amount and fair value of our financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands): December 31, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value Secured notes payable $ 74,578 $ 75,129 $ 110,965 $ 113,207 Unsecured term loan $ 249,428 $ 250,000 $ 249,654 $ 250,000 Unsecured senior guaranteed notes $ 798,362 $ 761,470 $ 797,953 $ 832,795 Senior unsecured notes, net $ 491,663 $ 403,500 $ 490,631 $ 503,000 Unsecured line of credit $ 34,057 $ 36,000 $ — $ —

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Components of Other Assets	Other assets consist of the following (in thousands): December 31, 2022 December 31, 2021 Leasing commissions, net of accumulated amortization of $43,078 and $40,595, respectively $ 38,436 $ 38,589 Interest rate swap asset 9,986 — Acquired above market leases, net 107 149 Acquired in-place leases, net 23,526 29,085 Lease incentives, net of accumulated amortization of $1,012 and $913, respectively 1,296 595 Other intangible assets, net of accumulated amortization of $1,549 and $1,382, respectively 2,165 2,445 Right-of-use lease asset, net 23,921 26,254 Prepaid expenses, deposits and other 9,277 9,136 Total other assets $ 108,714 $ 106,253

OTHER LIABILITIES AND DEFERRE_2

OTHER LIABILITIES AND DEFERRED CREDITS (Tables)	12 Months Ended
	Dec. 31, 2022
Other Liabilities Disclosure [Abstract]
Other liabilities and deferred credits	Other liabilities and deferred credits consist of the following (in thousands): December 31, 2022 December 31, 2021 Acquired below market leases, net $ 19,664 $ 22,402 Prepaid rent and deferred revenue 17,971 16,309 Interest rate swap liability 196 1,807 Straight-line rent liability 12,746 14,274 Deferred compensation 2,411 2,503 Deferred tax liability 852 967 Lease liability 25,676 27,917 Other liabilities 61 36 Total other liabilities and deferred credits, net $ 79,577 $ 86,215

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Summary of Notes Payable Outstanding	The following is a summary of the Operating Partnership's total secured notes payable outstanding as of December 31, 2022 and December 31, 2021 (in thousands): Description of Debt Principal Balance as of Stated Interest Rate Stated Maturity Date December 31, 2022 December 31, 2021 as of December 31, 2022 City Center Bellevue (1) — 111,000 3.98 % November 1, 2022 City Center Bellevue (1) 75,000 — 5.08 % October 1, 2027 75,000 111,000 Debt issuance costs, net of accumulated amortization of $452 and $387, respectively (422) (35) Total Secured Notes Payable $ 74,578 $ 110,965 (1) Interest only. The following is a summary of the Operating Partnership's total unsecured notes payable outstanding as of December 31, 2022 and December 31, 2021 (in thousands): Description of Debt Principal Balance as of Stated Interest Rate Stated Maturity Date December 31, 2022 December 31, 2021 as of December 31, 2022 Term Loan A $ 100,000 $ 100,000 Variable (1) January 5, 2027 Term Loan B 100,000 100,000 Variable (3) March 1, 2023 (2) Term Loan C 50,000 50,000 Variable (4) March 1, 2023 (2) Senior Guaranteed Notes, Series F 100,000 100,000 3.78 % (5) 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 250,000 250,000 4.29 % (6) March 1, 2027 Senior Guaranteed Notes, Series E 100,000 100,000 4.24 % (7) May 23, 2029 Senior Guaranteed Notes, Series G 150,000 150,000 3.91 % (8) July 30, 2030 3.375% Senior Unsecured Notes 500,000 500,000 3.38 % February 1, 2031 1,550,000 1,550,000 Debt discount and issuance costs, net of accumulated amortization of $11,709 and $9,462, respectively (10,547) (11,762) Total Unsecured Notes Payable $ 1,539,453 $ 1,538,238 (1) The Operating Partnership has entered into two interest rate swap agreements that are intended to fix the interest rate associated with Term Loan A at approximately 2.70% through its maturity date, subject to adjustments based on our consolidated leverage ratio. (2) On January 5, 2023, we extended Term Loan B and Term Loan C to a maturity date of January 5, 2025 with one, twelve-month extension option and increased the fully drawn borrowings thereunder to $150 million and $75 million, respectively. (3) 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. Effective March 1, 2018, the effective interest rate associated with Term Loan B is approximately 2.65% through November 30, 2022, subject to adjustments based on our consolidated leverage ratio. The interest rate swap agreement was terminated as of November 30, 2022. As such, the variable interest paid from December 1, 2022 through December 31, 2022 was 5.32%. (4) 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. Effective March 1, 2018, the effective interest rate associated with Term Loan C is approximately 2.64% through November 30, 2022, subject to adjustments based on our consolidated leverage ratio. The interest rate swap agreement was terminated as of November 30, 2022. As such, the variable interest paid from December 1, 2022 through December 31, 2022 was 5.32%. (5) 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. (6) 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 highly effective cash flow hedges, accordingly, the effective interest rate is approximately 3.87% per annum. (7) 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. (8) The Operating Partnership entered into a treasury lock contract on June 20, 2019, which was settled on July 17, 2019 at a gain 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 3.88% per annum.
Scheduled Principal Payments on Notes Payable	Scheduled principal payments on secured and unsecured notes payable as of December 31, 2022 are as follows (in thousands): 2023 (1) $ 150,000 2024 100,000 2025 200,000 2026 — 2027 425,000 Thereafter 750,000 $ 1,625,000 (1) On January 5, 2023, we entered into a $225 million Amended and Restated Term Loan Agreement, which increased the aggregate unsecured borrowings from $150 million to $225 million and extended the maturity date of the Term Loans B & C from March 1, 2023 to January 5, 2025, with one, twelve-month extension option, subject to certain conditions.

DERIVATIVE AND HEDGING ACTIVI_2

DERIVATIVE AND HEDGING ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The following is a summary of the terms of the interest rate swaps as of December 31, 2022 (dollars in thousands): Swap Counterparty Notional Amount Effective Date Maturity Date Fair Value Bank of America, N.A. $ 50,000 1/14/2022 1/5/2027 $ 4,468 Wells Fargo Bank, N.A. $ 50,000 1/14/2022 1/5/2027 $ 4,476 Wells Fargo Bank, N.A. $ 150,000 1/5/2023 1/5/2025 $ 1,042 Mizuho Capital Markets LLC $ 75,000 1/5/2023 1/5/2025 $ (196)

EQUITY OF AMERICAN ASSETS TRU_2

EQUITY OF AMERICAN ASSETS TRUST, INC. (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Summary of 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 for the years ended December 31, 2022, 2021 and 2020: Period Amount per Share/Unit Period Covered Dividend Paid Date First Quarter 2020 $ 0.30 January 1, 2020 to March 31, 2020 March 26, 2020 Second Quarter 2020 $ 0.20 April 1, 2020 to June 30, 2020 June 25, 2020 Third Quarter 2020 $ 0.25 July 1, 2020 to September 30, 2020 September 24, 2020 Fourth Quarter 2020 $ 0.25 October 1, 2020 to December 31, 2020 December 24, 2020 First Quarter 2021 $ 0.28 January 1, 2021 to March 31, 2021 March 25, 2021 Second Quarter 2021 $ 0.28 April 1, 2021 to June 30, 2021 June 24, 2021 Third Quarter 2021 $ 0.30 July 1, 2021 to September 30, 2021 September 23, 2021 Fourth Quarter 2021 $ 0.30 October 1, 2021 to December 31, 2021 December 23, 2021 First Quarter 2022 $ 0.32 January 1, 2022 to March 31, 2022 March 24, 2022 Second Quarter 2022 $ 0.32 April 1, 2022 to June 30, 2022 June 23, 2022 Third Quarter 2022 $ 0.32 July 1, 2022 to September 30, 2022 September 22, 2022 Fourth Quarter 2022 $ 0.32 October 1, 2022 to December 31, 2022 December 22, 2022
Summary of Income Tax Status of Dividends Per Share Paid	A summary of the income tax status of dividends per share paid is as follows: Year Ended December 31, 2022 2021 2020 Per Share % Per Share % Per Share % Ordinary income $ 1.18 92.1 % $ 0.73 62.6 % $ 0.66 66.0 % Capital gain — — % — — % — — % Return of capital 0.10 7.9 % 0.43 37.4 % 0.34 34.0 % Total $ 1.28 100.0 % $ 1.16 100.0 % $ 1.00 100.0 %
Summary of Restricted Common Stock	The following shares of restricted common stock have been issued as of December 31, 2022: Grant Fair Value at Grant Date Number June 9, 2020 (1) $33.29 6,008 December 4, 2020 (2) 19.02 - 20.83 311,566 June 8, 2021 (1) 38.59 5,184 December 9, 2021 (3) 24.27 - 25.17 224,635 June 7, 2022 (1) 32.94 6,072 December 7, 2022 (4) $18.53 - $19.52 319,610 (1) Restricted common stock issued to members of the company's non-employee directors. These awards of restricted stock will vest subject to the director's continued service on the Board of Directors on the earlier of (i) the one year anniversary of the date of grant or (ii) the date of the next annual meeting of our stockholders, if such non-employee director continues his or her service on the Board of Directors until the next annual meeting of stockholders, but not thereafter, pursuant to our independent director compensation policy. (2) Restricted common stock issued to certain of the company's senior management and other employees, which are subject to quantitative and qualitative performance criteria based vesting. Up to one-third of the shares of restricted stock may vest based on such performance criteria determined as of November 30, 2021, 2022 and 2023, subject to the employee's continued employment on those dates. (3) Restricted common stock issued to certain of the company's senior management and other employees, which are subject to quantitative and qualitative performance criteria based vesting. Up to one-third of the shares of restricted stock may vest based on such performance criteria determined as of November 30, 2022, 2023 and 2024, subject to the employee's continued employment on those dates.
Summary of Activity of Restricted Stock Awards	The following table summarizes the activity of non-vested restricted stock awards during the year ended December 31, 2022: 2022 Units Weighted Average Grant Date Fair Value Balance at beginning of year 487,397 $ 23.78 Granted 325,682 19.28 Vested (132,239) 24.86 Forfeited (106,796) 23.78 Balance at end of year 574,044 $ 20.98
Summary of Computation of Basic and Diluted EPS	The computation of basic and diluted EPS for American Assets Trust, Inc. is presented below (dollars in thousands, except share and per share amounts): Year Ended December 31, 2022 2021 2020 NUMERATOR Net income $ 55,877 $ 36,593 $ 35,588 Less: Net income attributable to restricted shares (648) (564) (383) Less: Income attributable to unitholders in the Operating Partnership (11,723) (7,653) (7,545) Net income attributable to common stockholders—basic $ 43,506 $ 28,376 $ 27,660 Income attributable to American Assets Trust, Inc. common stockholders—basic $ 43,506 $ 28,376 $ 27,660 Plus: Income attributable to unitholders in the Operating Partnership 11,723 7,653 7,545 Net income attributable to common stockholders—diluted $ 55,229 $ 36,029 $ 35,205 DENOMINATOR Weighted average common shares outstanding—basic 60,048,970 59,990,740 59,806,309 Effect of dilutive securities—conversion of Operating Partnership units 16,181,537 16,181,537 16,313,454 Weighted average common shares outstanding—diluted 76,230,507 76,172,277 76,119,763 Earnings per common share, basic $ 0.72 $ 0.47 $ 0.46 Earnings per common share, diluted $ 0.72 $ 0.47 $ 0.46

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Summary of Income Tax Provision	The income tax provision included in other (expense) income on the consolidated statement of comprehensive income is as follows (in thousands): Year Ended December 31, 2022 2021 2020 Current: Federal $ — $ — $ (542) State 1,063 483 412 Deferred: Federal 8 118 (80) State (221) 137 201 Provision for income taxes (benefit) $ 850 $ 738 $ (9)

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2022
Leases [Abstract]
Summary of Current Minimum Future Rentals Under the Leases	As of December 31, 2022, 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 for the years ended December 31 (in thousands): 2023 $ 249,967 2024 226,431 2025 202,843 2026 186,930 2027 163,204 Thereafter 298,683 Total $ 1,328,058
Summary of Current Minimum Annual Payments Under the Leases	Current annual payments under the operating leases are as follows, as of December 31, 2022 (in thousands): Year Ending December 31, 2023 $ 3,328 2024 3,428 2025 3,531 2026 3,584 2027 3,584 Thereafter 12,543 Total lease payments $ 29,998 Imputed interest (4,322) Present value of lease liability $ 25,676
Summary of Lease Costs Under Operating Leases and Supplemental Cash Flow Information of Leases	Lease costs under the operating leases are as follows (in thousands): Year Ended December 31, 2022 2021 Operating lease cost $ 3,377 $ 3,926 Sublease income (3,416) (3,634) Total lease (income) cost $ (39) $ 292 Weighted-average remaining lease term - operating leases (in years) 8.5 Weighted-average discount rate - operating leases 3.19 % Supplemental cash flow information and non-cash activity related to our operating leases are as follow (in thousands): Year Ended December 31, 2022 2021 Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 3,232 $ 2,791

COMPONENTS OF RENTAL INCOME A_2

COMPONENTS OF RENTAL INCOME AND EXPENSE (Tables)	12 Months Ended
	Dec. 31, 2022
Operating Leases, Income Statement, Lease Revenue [Abstract]
Summary of Principal Components of Rental Income	The principal components of rental income are as follows (in thousands): Year Ended December 31, 2022 2021 2020 Minimum rents Office $ 196,793 $ 180,704 $ 170,853 Retail 95,574 89,326 82,176 Multifamily 53,816 48,654 47,071 Mixed-Use 11,590 9,901 7,302 Percentage rent 4,004 4,337 3,516 Hotel revenue 38,115 24,935 17,209 Other 2,615 2,351 2,185 Total rental income $ 402,507 $ 360,208 $ 330,312
Summary of Principal Components of Rental Expenses	The principal components of rental expenses are as follows (in thousands): Year Ended December 31, 2022 2021 2020 Rental operating $ 47,832 $ 41,488 $ 38,194 Hotel operating 25,833 17,518 13,691 Repairs and maintenance 22,222 18,113 17,813 Marketing 2,379 1,779 2,023 Rent 3,215 4,023 3,955 Hawaii excise tax 4,081 2,792 2,479 Management fees 2,083 1,267 1,023 Total rental expenses $ 107,645 $ 86,980 $ 79,178

OTHER (EXPENSE) INCOME (Tables)

OTHER (EXPENSE) INCOME (Tables)	12 Months Ended
	Dec. 31, 2022
Other Income and Expenses [Abstract]
Summary of Principal Components of Other Income (Expense), Net	The principal components of other (expense) income, net are as follows (in thousands): Year Ended December 31, 2022 2021 2020 Interest and investment income $ 225 $ 324 $ 436 Income tax (expense) benefit (850) (738) 9 Other non-operating (expense) income — (4) 2 Total other (expense) income $ (625) $ (418) $ 447

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Segments Operating Activity	The following table represents operating activity within our reportable segments (in thousands): Year Ended December 31, 2022 2021 2020 Total Office Property revenue $ 203,391 $ 186,366 $ 177,554 Property expense (57,478) (50,233) (47,424) Segment profit 145,913 136,133 130,130 Total Retail Property revenue 100,912 94,662 88,280 Property expense (30,306) (27,983) (27,374) Segment profit 70,606 66,679 60,906 Total Multifamily Property revenue 58,139 52,315 50,327 Property expense (26,256) (23,211) (22,074) Segment profit 31,883 29,104 28,253 Total Mixed-Use Property revenue 60,206 42,485 28,412 Property expense (38,393) (28,347) (24,247) Segment profit 21,813 14,138 4,165 Total segments’ profit $ 270,215 $ 246,054 $ 223,454
Schedule of 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): Year Ended December 31, 2022 2021 2020 Total segments' profit $ 270,215 $ 246,054 $ 223,454 General and administrative (32,143) (29,879) (26,581) Depreciation and amortization (123,338) (116,306) (108,292) Interest expense (58,232) (58,587) (53,440) Loss on early extinguishment of debt — (4,271) — Other (expense) income, net (625) (418) 447 Net income 55,877 36,593 35,588 Net income attributable to restricted shares (648) (564) (383) Net income attributable to unitholders in the Operating Partnership (11,723) (7,653) (7,545) Net income attributable to American Assets Trust, Inc. stockholders $ 43,506 $ 28,376 $ 27,660
Schedule of 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, along with their capital expenditures for each year (in thousands): December 31, 2022 December 31, 2021 Net real estate Office $ 1,615,479 $ 1,536,212 Retail 579,219 591,107 Multifamily 370,993 381,315 Mixed-Use 168,865 173,347 $ 2,734,556 $ 2,681,981 Secured Notes Payable (1) Office $ 75,000 $ 111,000 Retail — — $ 75,000 $ 111,000 Capital Expenditures (2) Office $ 102,443 $ 93,116 Retail 12,177 7,232 Multifamily 4,889 5,841 Mixed-Use 1,646 1,541 $ 121,155 $ 107,730 (1) Excludes unamortized debt issuance costs of $0.4 million and $0.0 million as of December 31, 2022 and 2021, respectively. (2) Capital expenditures represent cash paid for capital expenditures during the year and includes leasing commissions paid.

QUARTERLY FINANCIAL INFORMATI_2

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Summary of Selected Quarterly Information	The tables below reflect selected American Assets Trust, Inc. quarterly information for 2022 and 2021 (in thousands, except per shares data): Three Months Ended December 31, September 30, June 30, March 31, Total revenue $ 106,000 $ 111,023 $ 104,155 $ 101,470 Operating income 27,073 31,003 28,316 28,342 Net income 12,406 16,369 13,588 13,514 Net income attributable to restricted shares (184) (155) (154) (155) Net income attributable to unitholders in the Operating Partnership (2,593) (3,442) (2,852) (2,836) Net income attributable to American Assets Trust, Inc. stockholders $ 9,629 $ 12,772 $ 10,582 $ 10,523 Net income per share attributable to common stockholders - basic and diluted $ 0.16 $ 0.21 $ 0.18 $ 0.18 Three Months Ended December 31, September 30, June 30, March 31, Total revenue $ 101,747 $ 98,286 $ 91,809 $ 83,986 Operating income 25,715 27,669 26,423 20,062 Net income 10,478 12,895 11,487 1,733 Net income attributable to restricted shares (147) (145) (135) (137) Net income attributable to unitholders in the Operating Partnership (2,194) (2,709) (2,411) (339) Net income attributable to American Assets Trust, Inc. stockholders $ 8,137 $ 10,041 $ 8,941 $ 1,257 Net income per share attributable to common stockholders - basic and diluted $ 0.14 $ 0.17 $ 0.15 $ 0.02 The tables below reflect selected American Assets Trust, L.P. quarterly information for 2022 and 2021 (in thousands, except per shares data): Three Months Ended December 31, September 30, June 30, March 31, Total revenue $ 106,000 $ 111,023 $ 104,155 $ 101,470 Operating income 27,073 31,003 28,316 28,342 Net income 12,406 16,369 13,588 13,514 Net income attributable to restricted shares (184) (155) (154) (155) Net income attributable to American Assets Trust, L.P. unit holders $ 12,222 $ 16,214 $ 13,434 $ 13,359 Net income per unit attributable to unit holders - basic and diluted $ 0.16 $ 0.21 $ 0.18 $ 0.18 Three Months Ended December 31, September 30, June 30, March 31, Total revenue $ 101,747 $ 98,286 $ 91,809 $ 83,986 Operating income 25,715 27,669 26,423 20,062 Net income 10,478 12,895 11,487 1,733 Net income attributable to restricted shares (147) (145) (135) (137) Net income attributable to American Assets Trust, L.P. unit holders $ 10,331 $ 12,750 $ 11,352 $ 1,596 Net income per unit attributable to common unit holders - basic and diluted $ 0.14 $ 0.17 $ 0.15 $ 0.02

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) employee room property segment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of employees | employee	216
Number of office, retail, multifamily and mixed-use operating properties | property	31
Properties held for development | property	3
Allowance for doubtful accounts	$ (2,100)	$ (4,600)
Total bad debt expense	2,300	2,300	$ 18,400
Real estate depreciation expense	108,100	102,000	95,800
Cash balance at banks, excess of FDIC insured limit	39,900	62,200
Restricted cash	0	0	1,716
Incremental stock compensation cost from modification	$ 1,400	2,600	1,200
Number of operating segments | segment	4
Rooms in mixed-use segment all-suite hotel | room	369
Earnest S. Rady
Summary Of Significant Accounting Policies [Line Items]
Properties owned through controlling interest | property	17
Properties owned through noncontrolling interest | property	4
Money Market Funds
Summary Of Significant Accounting Policies [Line Items]
Cash balance at banks, excess of FDIC insured limit	$ 500	70,800
Minimum
Summary Of Significant Accounting Policies [Line Items]
Percentage of taxable income required to distribute to qualify as real estate investment trust (REIT)	90%
Building And Improvement | Minimum
Summary Of Significant Accounting Policies [Line Items]
Real Estate, estimated useful lives	30 years
Building And Improvement | Maximum
Summary Of Significant Accounting Policies [Line Items]
Real Estate, estimated useful lives	40 years
Furniture And Equipment | Minimum
Summary Of Significant Accounting Policies [Line Items]
Real Estate, estimated useful lives	3 years
Furniture And Equipment | Maximum
Summary Of Significant Accounting Policies [Line Items]
Real Estate, estimated useful lives	15 years
Other Income
Summary Of Significant Accounting Policies [Line Items]
General excise tax recognized, gross	$ 3,400	$ 2,500	$ 2,300

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Supplemental Disclosures Related to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Supplemental cash flow information
Total interest costs incurred	$ 63,997	$ 61,578	$ 54,510
Interest capitalized	5,765	2,991	1,070
Interest expense, net	58,232	58,587	53,440
Cash paid for interest, net of amounts capitalized	56,060	50,970	53,467
Cash paid for income taxes	865	356	844
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued liabilities for construction in progress	20,832	18,697	22,884
Accrued leasing commissions	$ 2,442	$ 2,628	$ 555

REAL ESTATE - Narrative (Detail

REAL ESTATE - Narrative (Details) $ in Millions				12 Months Ended
	Mar. 08, 2022 USD ($) ft²	Sep. 10, 2021 USD ($) ft²	Jul. 07, 2021 USD ($) ft²	Dec. 31, 2022
Eastgate Office Park
Real Estate [Line Items]
Area of real estate property | ft²			280,000
Purchase price consideration			$ 125
Acquisition cost capitalized			$ 0.2
Eastgate Office Park | Leases | Office Building
Real Estate [Line Items]
Weighted average useful life (in years)				3 years
Corporate Campus East III
Real Estate [Line Items]
Area of real estate property | ft²		161,000
Purchase price consideration		$ 84
Acquisition cost capitalized		0.1
Corporate Campus East III | Office Building
Real Estate [Line Items]
Purchase price seller credits, future rent abatement		1.1
Purchase price seller credits, contractual tenant improvements		$ 2.1
Bel-Spring 520
Real Estate [Line Items]
Area of real estate property | ft²	93,000
Purchase price consideration	$ 45.5
Acquisition cost capitalized	0.1
Bel-Spring 520 | Office Building
Real Estate [Line Items]
Purchase price seller credits, future rent abatement	0.1
Purchase price seller credits, contractual tenant improvements	$ 0.6

REAL ESTATE - Summary of Real E

REAL ESTATE - Summary of Real Estate Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Real Estate Properties [Line Items]
Construction in progress	$ 202,385	$ 139,098
Total Real estate, at cost	3,671,469	3,529,371
Accumulated depreciation	(936,913)	(847,390)
Net real estate	2,734,556	2,681,981
Retail
Real Estate Properties [Line Items]
Net real estate	579,219	591,107
Office
Real Estate Properties [Line Items]
Net real estate	1,615,479	1,536,212
Multifamily
Real Estate Properties [Line Items]
Net real estate	370,993	381,315
Mixed-Use
Real Estate Properties [Line Items]
Net real estate	168,865	173,347
Real Estate Investment
Real Estate Properties [Line Items]
Land	701,326	687,582
Buildings	2,373,706	2,320,332
Land improvements	75,534	72,064
Tenant improvements	315,741	310,525
Furniture, fixtures, and equipment	41,306	39,556
Construction in progress	163,856	99,312
Total Real estate, at cost	3,671,469	3,529,371
Accumulated depreciation	(936,913)	(847,390)
Net real estate	2,734,556	2,681,981
Real Estate Investment | Retail
Real Estate Properties [Line Items]
Land	254,016	254,016
Buildings	529,589	527,262
Land improvements	49,512	47,425
Tenant improvements	92,225	89,520
Furniture, fixtures, and equipment	1,290	1,098
Construction in progress	7,471	7,160
Total Real estate, at cost	934,103	926,481
Accumulated depreciation	(354,884)	(335,374)
Net real estate	579,219	591,107
Real Estate Investment | Office
Real Estate Properties [Line Items]
Land	298,007	284,263
Buildings	1,316,916	1,270,131
Land improvements	15,284	14,269
Tenant improvements	221,163	218,639
Furniture, fixtures, and equipment	5,530	5,003
Construction in progress	151,734	87,340
Total Real estate, at cost	2,008,634	1,879,645
Accumulated depreciation	(393,155)	(343,433)
Net real estate	1,615,479	1,536,212
Real Estate Investment | Multifamily
Real Estate Properties [Line Items]
Land	72,668	72,668
Buildings	397,731	393,713
Land improvements	8,132	7,764
Tenant improvements	0	0
Furniture, fixtures, and equipment	19,059	18,039
Construction in progress	3,739	4,448
Total Real estate, at cost	501,329	496,632
Accumulated depreciation	(130,336)	(115,317)
Net real estate	370,993	381,315
Real Estate Investment | Mixed-Use
Real Estate Properties [Line Items]
Land	76,635	76,635
Buildings	129,470	129,226
Land improvements	2,606	2,606
Tenant improvements	2,353	2,366
Furniture, fixtures, and equipment	15,427	15,416
Construction in progress	912	364
Total Real estate, at cost	227,403	226,613
Accumulated depreciation	(58,538)	(53,266)
Net real estate	$ 168,865	$ 173,347

REAL ESTATE - Purchase Price Al

REAL ESTATE - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Real Estate [Line Items]
Prepaid expenses and other assets	$ 9,277	$ 9,136
TOTAL ASSETS	2,987,881	3,017,927
Accounts payable and accrued expenses	(65,992)	(64,531)
Security deposits payable	(8,699)	(7,855)
Other liabilities and deferred credits	(79,577)	(86,215)
Liabilities assumed	(1,802,356)	$ (1,807,804)
Bel-Spring 520 | Office Building
Real Estate [Line Items]
Land	13,744
Buildings	27,793
Land improvements	713
Furniture, fixtures, and equipment	1,833
Total real estate	44,083
Lease intangibles	2,036
Prepaid expenses and other assets	10
TOTAL ASSETS	46,129
Accounts payable and accrued expenses	(14)
Security deposits payable	(189)
Other liabilities and deferred credits	(641)
Liabilities assumed	$ (844)

REAL ESTATE - Operating Results

REAL ESTATE - Operating Results for Acquisition (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Real Estate [Line Items]
Revenues	$ 106,000	$ 111,023	$ 104,155	$ 101,470	$ 101,747	$ 98,286	$ 91,809	$ 83,986	$ 422,648	$ 375,828	$ 344,573
Operating expenses									307,914	275,959	255,992
OPERATING INCOME	27,073	31,003	28,316	28,342	25,715	27,669	26,423	20,062	114,734	99,869	88,581
Net income attributable to American Assets Trust, Inc.	$ 12,406	$ 16,369	$ 13,588	$ 13,514	$ 10,478	$ 12,895	$ 11,487	$ 1,733	55,877	$ 36,593	$ 35,588
Bel-Spring 520
Real Estate [Line Items]
Revenues									2,512
Operating expenses									2,417
OPERATING INCOME									95
Net income attributable to American Assets Trust, Inc.									$ 95

ACQUIRED IN-PLACE LEASES AND _3

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	Dec. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Net of accumulated amortization of other intangible assets	$ (1,549)	$ (1,382)
Acquired lease intangible assets, net	23,633	29,234
Below market leases	52,832	58,655
Accumulated accretion	(33,168)	(36,253)
Acquired lease intangible liabilities, net	19,664	22,402
In-place leases
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets	58,119	67,215
Net of accumulated amortization of other intangible assets	(34,593)	(38,130)
Acquired lease intangible assets, net	23,526	29,085
Above market leases
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets	1,885	2,532
Net of accumulated amortization of other intangible assets	(1,778)	(2,383)
Acquired lease intangible assets, net	$ 107	$ 149

ACQUIRED IN-PLACE LEASES AND _4

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of acquired above and below market leases	$ 3.3	$ 3.2	$ 3.9
Weighted-average amortization period of below market leases	10 years 6 months
Acquired lease, below market renewal options	$ 10.2
Weighted-average amortization period of acquired leases prior to the commencement of renewal option	7 years 7 months 6 days
In-place leases
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period of acquired leases	5 years 10 months 24 days
Above market leases
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period of acquired leases	2 years 9 months 18 days

ACQUIRED IN-PLACE LEASES AND _5

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES - Increases (Decreases) in Net Income as Result of Amortization of In-Place Leases Above Market Leases and Below Market Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of below market leases	$ 3,348	$ 3,271	$ 3,994
Amortization of acquired above and below market leases	(3,881)	(3,427)	(1,086)
In-place leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of leases	(7,188)	(6,664)	(5,018)
Above market leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of leases	$ (41)	$ (34)	$ (62)

ACQUIRED IN-PLACE LEASES AND _6

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES - Amortization for Acquired In-Place Leases During Next Five Years and Thereafter Assuming No Early Lease Terminations (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	$ 23,633	$ 29,234
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
2022	3,109
2023	2,742
2024	2,200
2025	1,776
2026	1,460
Thereafter	8,376
Acquired lease intangible liabilities, net	19,664	22,402
In-place leases
Acquired Finite-Lived Intangible Assets [Line Items]
2022	4,914
2023	4,499
2024	3,742
2025	3,387
2026	3,012
Thereafter	3,972
Acquired lease intangible assets, net	23,526	29,085
Above market leases
Acquired Finite-Lived Intangible Assets [Line Items]
2022	41
2023	38
2024	25
2025	3
2026	0
Thereafter	0
Acquired lease intangible assets, net	$ 107	$ 149

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS - Financial Liabilities Fair Value Measurement on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	$ 2,411	$ 2,503
Interest rate swap asset	9,986	0
Interest rate swap liability	196	1,807
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
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, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	2,411	2,503
Interest rate swap asset	9,986	0
Interest rate swap liability	$ 196	$ 1,807

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS - Narrative (Details) - Level 2	Dec. 31, 2022
Minimum
Fair Value Inputs Disclosures
Fair value assumptions, interest rate	0.053
Maximum
Fair Value Inputs Disclosures
Fair value assumptions, interest rate	0.065

FAIR VALUE OF FINANCIAL INSTR_5

FAIR VALUE OF FINANCIAL INSTRUMENTS - Carrying Amount and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Secured notes payable | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 74,578	$ 110,965
Secured notes payable | Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	75,129	113,207
Unsecured Debt | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	249,428	249,654
Unsecured Debt | Carrying Value | Senior unsecured notes, net
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	491,663	490,631
Unsecured Debt | Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	250,000	250,000
Unsecured Debt | Fair Value | Level 2 | Senior unsecured notes, net
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	403,500	503,000
Unsecured senior guaranteed notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	798,362	797,953
Unsecured senior guaranteed notes | Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	761,470	832,795
Unsecured line of credit | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	34,057	0
Unsecured line of credit | Fair Value | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 36,000	$ 0

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Leasing commissions, net of accumulated amortization of $43,078 and $40,595, respectively	$ 38,436	$ 38,589
Interest rate swap asset	$ 9,986	$ 0
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Total other assets	Total other assets
Acquired lease intangible assets, net	$ 23,633	$ 29,234
Lease incentives, net of accumulated amortization of $1,012 and $913, respectively	1,296	595
Other intangible assets, net of accumulated amortization of $1,549 and $1,382, respectively	2,165	2,445
Right-of-use lease asset, net	$ 23,921	$ 26,254
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total other assets	Total other assets
Prepaid expenses, deposits and other	$ 9,277	$ 9,136
Total other assets	108,714	106,253
Leasing commissions, accumulative amortization	(43,078)	(40,595)
Lease incentives, accumulated amortization	(1,012)	(913)
Other intangible assets, accumulated amortization	1,549	1,382
Above market leases
Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	107	149
Other intangible assets, accumulated amortization	1,778	2,383
In-place leases
Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	23,526	29,085
Other intangible assets, accumulated amortization	$ 34,593	$ 38,130

OTHER LIABILITIES AND DEFERRE_3

OTHER LIABILITIES AND DEFERRED CREDITS (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Acquired below market leases, net	$ 19,664	$ 22,402
Prepaid rent and deferred revenue	17,971	16,309
Interest rate swap liability	196	1,807
Straight-line rent liability	12,746	14,274
Deferred compensation	2,411	2,503
Deferred tax liability	852	967
Lease liability	25,676	27,917
Other liabilities	61	36
Total other liabilities and deferred credits, net	$ 79,577	$ 86,215
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Total other liabilities and deferred credits, net	Total other liabilities and deferred credits, net

DEBT - Summary of Total Secured

DEBT - Summary of Total Secured Notes Payable Outstanding (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Notes payable, total	$ 1,625,000
Secured notes payable
Debt Instrument [Line Items]
Debt issuance costs, accumulated amortization	452	$ 387
American Assets Trust, L.P. | Secured notes payable
Debt Instrument [Line Items]
Principal Balance as of	75,000	111,000
Debt discount and issuance costs, net of accumulated amortization of $11,709 and $9,462, respectively	(422)	(35)
Notes payable, total	74,578	110,965
American Assets Trust, L.P. | 3.98% City Center Bellevue, November 2022 | Secured notes payable
Debt Instrument [Line Items]
Principal Balance as of	$ 0	111,000
Stated interest rate	3.98%
American Assets Trust, L.P. | 5.08% City Center Bellevue, October 2027 | Secured notes payable
Debt Instrument [Line Items]
Principal Balance as of	$ 75,000	$ 0
Stated interest rate	5.08%

DEBT - Narrative (Details)

DEBT - Narrative (Details)

12 Months Ended

Jan. 05, 2023 USD ($) extension

Nov. 30, 2022 USD ($)

Sep. 16, 2022 USD ($)

Jan. 05, 2022 USD ($) extension

Jan. 26, 2021 USD ($)

Jan. 09, 2019 extension

Jan. 09, 2018 USD ($) extension

Apr. 25, 2017

May 02, 2016 USD ($)

Mar. 23, 2016 USD ($)

Mar. 01, 2016 USD ($)

Jan. 29, 2016 USD ($)

Oct. 31, 2014 USD ($)

Jan. 09, 2014 USD ($) extension

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Jan. 04, 2023 USD ($)

Jul. 30, 2019 USD ($)

Nov. 26, 2018

Mar. 01, 2018

Jul. 19, 2017 USD ($)

May 23, 2017 USD ($)

Mar. 01, 2017 USD ($)

Debt Instrument [Line Items]

Repayments of unsecured debt

$ 0

$ 155,375,000

$ 0

Loss on early extinguishment of debt

0

(4,271,000)

0

Repayment of unsecured line of credit

0

100,000,000

0

Unsecured notes payable, net

1,539,453,000

1,538,238,000

Unsecured line of credit, net

34,057,000

0

Unsecured line of credit

Debt Instrument [Line Items]

Maximum leverage ratio of revolving credit facility

60%

Maximum secured leverage ratio on revolving credit facility

40%

Minimum fixed charge coverage ratio covenant threshold

1.50

Minimum interest coverage ratio covenant threshold

175%

Maximum unsecured leverage ratio (in percentage)

60%

Maximum Recourse Indebtedness Of Total Asset Value

15%

Percentage annual distributions cannot exceed funds from operations

95%

Term Loan B & Term Loan C | Unsecured Debt | Subsequent Event

Debt Instrument [Line Items]

Face amount of debt

$ 225,000,000

$ 150,000,000

Number of extensions available | extension

1

Extension term

12 months

Third Amended and Restated Credit Facility | Unsecured line of credit

Debt Instrument [Line Items]

Percentage annual distributions cannot exceed funds from operations

95%

American Assets Trust, L.P.

Debt Instrument [Line Items]

Repayments of unsecured debt

0

155,375,000

0

Loss on early extinguishment of debt

0

(4,271,000)

0

Repayment of unsecured line of credit

0

100,000,000

$ 0

Unsecured notes payable, net

1,539,453,000

1,538,238,000

Unsecured line of credit, net

34,057,000

0

American Assets Trust, L.P. | Secured notes payable

Debt Instrument [Line Items]

Principal Balance as of

75,000,000

111,000,000

American Assets Trust, L.P. | Unsecured line of credit | Revolving Credit Facility

Debt Instrument [Line Items]

Number of extensions available | extension

2

Extension term

6 months

American Assets Trust, L.P. | Unsecured line of credit | Revolving Credit Facility | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.10%

American Assets Trust, L.P. | Unsecured line of credit | Revolving Credit Facility | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

American Assets Trust, L.P. | Unsecured line of credit | Revolving Credit Facility | Secured Overnight Financing Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.05%

American Assets Trust, L.P. | Unsecured line of credit | Revolving Credit Facility | Secured Overnight Financing Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.50%

American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

1,550,000,000

1,550,000,000

Unsecured notes payable, net

$ 1,539,453,000

1,538,238,000

American Assets Trust, L.P. | Unsecured Debt | Base Rate | Subsequent Event

Debt Instrument [Line Items]

Minimum base rate

0%

American Assets Trust, L.P. | Unsecured Debt | Federal Funds Rate | Subsequent Event

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

American Assets Trust, L.P. | Unsecured Debt | Secured Overnight Financing Rate | Subsequent Event

Debt Instrument [Line Items]

Basis spread on variable rate

1%

American Assets Trust, L.P. | Unsecured Debt | Secured Overnight Financing Rate | Subsequent Event | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.20%

American Assets Trust, L.P. | Unsecured Debt | Secured Overnight Financing Rate | Subsequent Event | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.90%

American Assets Trust, L.P. | 5.08% City Center Bellevue, October 2027 | Mortgages | Nonrecourse

Debt Instrument [Line Items]

Face amount of debt

$ 75,000,000

Debt instrument, term

5 years

Stated Interest Rate

5.08%

American Assets Trust, L.P. | 5.08% City Center Bellevue, October 2027 | Secured notes payable

Debt Instrument [Line Items]

Extinguishment of debt

$ 111,000,000

Stated Interest Rate

5.08%

Principal Balance as of

$ 75,000,000

0

American Assets Trust, L.P. | Senior unsecured notes, net

Debt Instrument [Line Items]

Stated Interest Rate

3.375%

3.375%

Note offering percent

0.98935

Weighted average yield of investment

3.502%

Proceeds from debt, net of issuance costs

$ 489,700,000

American Assets Trust, L.P. | Senior unsecured notes, net | Unsecured Debt

Debt Instrument [Line Items]

Face amount of debt

500,000,000

Stated Interest Rate

3.38%

Principal Balance as of

$ 500,000,000

500,000,000

American Assets Trust, L.P. | Senior Guaranteed Notes, Series A | Unsecured Debt

Debt Instrument [Line Items]

Repayments of unsecured debt

150,000,000

Loss on early extinguishment of debt

3,900,000

American Assets Trust, L.P. | Second Amended and Restated Credit Facility

Debt Instrument [Line Items]

Revolving credit facility borrowing limit, maximum borrowing capacity

$ 450,000,000

Allowable additional borrowing capacity

$ 250,000,000

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit

Debt Instrument [Line Items]

Repayment of unsecured line of credit

$ 100,000,000

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility

Debt Instrument [Line Items]

Number of extensions available | extension

2

Extension term

6 months

Revolving credit facility borrowing limit, maximum borrowing capacity

$ 350,000,000

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

1%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.05%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.50%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.10%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | Federal Funds Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured Debt

Debt Instrument [Line Items]

Revolving credit facility borrowing limit, maximum borrowing capacity

$ 100,000,000

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured Debt | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.30%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured Debt | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.90%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured Debt | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.30%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured Debt | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured Debt | Federal Funds Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured Debt | Secured Overnight Financing Rate

Debt Instrument [Line Items]

Basis spread on variable rate

1%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Subsequent Event

Debt Instrument [Line Items]

Face amount of debt

$ 75,000,000

150,000,000

Number of extensions available | extension

1

Extension term

12 months

American Assets Trust, L.P. | Term Loan B & Term Loan C | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.70%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.35%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt

Debt Instrument [Line Items]

Face amount of debt

$ 150,000,000

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | Subsequent Event

Debt Instrument [Line Items]

Face amount of debt

$ 225,000,000

$ 150,000,000

Number of extensions available | extension

1

Extension term

12 months

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.20%

1.70%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.70%

2.35%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | Base Rate

Debt Instrument [Line Items]

Minimum base rate

0%

0%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.70%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.35%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | Base Rate | Subsequent Event | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.20%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | Base Rate | Subsequent Event | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | Federal Funds Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

0.50%

American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured Debt | Eurodollar

Debt Instrument [Line Items]

Basis spread on variable rate

1%

1%

American Assets Trust, L.P. | Term Loan B

Debt Instrument [Line Items]

Face amount of debt

$ 100,000,000

$ 100,000,000

Debt instrument, term

2 years

7 years

7 years

American Assets Trust, L.P. | Term Loan B | Subsequent Event

Debt Instrument [Line Items]

Debt instrument, term

2 years

American Assets Trust, L.P. | Term Loan B | Unsecured Debt

Debt Instrument [Line Items]

Face amount of debt

$ 100,000,000

Principal Balance as of

100,000,000

100,000,000

American Assets Trust, L.P. | Term Loan C

Debt Instrument [Line Items]

Face amount of debt

$ 50,000,000

$ 50,000,000

Debt instrument, term

7 years

7 years

American Assets Trust, L.P. | Term Loan C | Unsecured Debt

Debt Instrument [Line Items]

Face amount of debt

$ 50,000,000

Principal Balance as of

$ 50,000,000

50,000,000

American Assets Trust, L.P. | Interest Rate Swap, Year One | Unsecured Debt | Subsequent Event

Debt Instrument [Line Items]

Fixed interest rate on derivative

5.47%

American Assets Trust, L.P. | Interest Rate Swap, Year Two | Unsecured Debt | Subsequent Event

Debt Instrument [Line Items]

Fixed interest rate on derivative

5.57%

American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes

Debt Instrument [Line Items]

Face amount of debt

$ 350,000,000

Partial debt repayment, minimum percentage of principal

5%

Full debt repayment percentage of principal plus a Make-Whole Amount

100%

American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes, Series A

Debt Instrument [Line Items]

Face amount of debt

$ 150,000,000

Stated Interest Rate

4.04%

American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes, Series B

Debt Instrument [Line Items]

Face amount of debt

$ 100,000,000

Stated Interest Rate

4.45%

American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes, Series C

Debt Instrument [Line Items]

Face amount of debt

$ 100,000,000

Stated Interest Rate

4.50%

American Assets Trust, L.P. | Senior Guaranteed Notes, Series D | Unsecured Debt

Debt Instrument [Line Items]

Face amount of debt

$ 250,000,000

Stated Interest Rate

4.29%

4.29%

Principal Balance as of

$ 250,000,000

250,000,000

American Assets Trust, L.P. | Senior Guaranteed Notes, Series E | Unsecured Debt

Debt Instrument [Line Items]

Face amount of debt

$ 100,000,000

Debt instrument, term

12 years

Stated Interest Rate

4.24%

4.24%

Principal Balance as of

$ 100,000,000

100,000,000

American Assets Trust, L.P. | Senior Guaranteed Notes, Series F | Unsecured Debt

Debt Instrument [Line Items]

Face amount of debt

$ 100,000,000

Stated Interest Rate

3.78%

3.78%

Principal Balance as of

$ 100,000,000

100,000,000

American Assets Trust, L.P. | Senior Guaranteed Notes, Series G | Unsecured Debt

Debt Instrument [Line Items]

Stated Interest Rate

3.91%

3.91%

Principal Balance as of

150,000,000

$ 150,000,000

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

Allowable additional borrowing capacity

$ 250,000,000

American Assets Trust, L.P. | Amended and Restated Credit Facility | Revolving Credit Facility | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.35%

American Assets Trust, L.P. | Amended and Restated Credit Facility | Revolving Credit Facility | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.95%

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility

Debt Instrument [Line Items]

Revolving credit facility borrowing limit, maximum borrowing capacity

$ 250,000,000

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.35%

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.95%

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured Debt

Debt Instrument [Line Items]

Number of extensions available | extension

3

Extension term

12 months

Revolving credit facility borrowing limit, maximum borrowing capacity

$ 100,000,000

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured Debt | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.30%

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured Debt | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.90%

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured Debt | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.30%

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured Debt | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured Debt | Federal Funds Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured Debt | Eurodollar

Debt Instrument [Line Items]

Basis spread on variable rate

1%

American Assets Trust, L.P. | Term Loan A

Debt Instrument [Line Items]

Face amount of debt

$ 225,000,000

Unsecured notes payable, net

$ 100,000,000

American Assets Trust, L.P. | Term Loan A | Subsequent Event

Debt Instrument [Line Items]

Face amount of debt

$ 225,000,000

American Assets Trust, L.P. | Term Loan A | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.20%

American Assets Trust, L.P. | Term Loan A | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.70%

American Assets Trust, L.P. | Term Loan A | Unsecured Debt

Debt Instrument [Line Items]

Number of extensions available | extension

3

Extension term

1 year

Principal Balance as of

$ 100,000,000

$ 100,000,000

American Assets Trust, L.P. | Term Loan A | Unsecured Debt | LIBOR | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.20%

American Assets Trust, L.P. | Term Loan A | Unsecured Debt | LIBOR | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.70%

American Assets Trust, L.P. | Term Loan A | Unsecured Debt | Federal Funds Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.50%

American Assets Trust, L.P. | Term Loan A | Unsecured Debt | Eurodollar

Debt Instrument [Line Items]

Basis spread on variable rate

1%

American Assets Trust, L.P. | Third Amended and Restated Credit Facility

Debt Instrument [Line Items]

Revolving credit facility borrowing limit, maximum borrowing capacity

$ 500,000,000

American Assets Trust, L.P. | Third Amended and Restated Credit Facility | Base Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

0.20%

American Assets Trust, L.P. | Third Amended and Restated Credit Facility | Base Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

0.70%

American Assets Trust, L.P. | Third Amended and Restated Credit Facility | Unsecured line of credit

Debt Instrument [Line Items]

Unsecured line of credit, net

36,000,000

Debt issuance costs, net, revolving credit facility

$ 1,900,000

Weighted average interest rate

4.38%

American Assets Trust, L.P. | Third Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility

Debt Instrument [Line Items]

Revolving credit facility borrowing limit, maximum borrowing capacity

$ 400,000,000

American Assets Trust, L.P. | Third Amended and Restated Credit Facility | Unsecured Debt

Debt Instrument [Line Items]

Number of extensions available | extension

2

Extension term

6 months

Revolving credit facility borrowing limit, maximum borrowing capacity

$ 100,000,000

American Assets Trust, L.P. | Third Amended and Restated Credit Facility | Unsecured Debt | Base Rate

Debt Instrument [Line Items]

Minimum base rate

1%

American Assets Trust, L.P. | Third Amended and Restated Credit Facility | Unsecured Debt | Secured Overnight Financing Rate | Minimum

Debt Instrument [Line Items]

Basis spread on variable rate

1.20%

American Assets Trust, L.P. | Third Amended and Restated Credit Facility | Unsecured Debt | Secured Overnight Financing Rate | Maximum

Debt Instrument [Line Items]

Basis spread on variable rate

1.70%

Interest Rate Swap | American Assets Trust, L.P. | Term Loan B

Debt Instrument [Line Items]

Fixed interest rate on derivative

3.15%

2.65%

Interest Rate Swap | American Assets Trust, L.P. | Term Loan B | Unsecured Debt

Debt Instrument [Line Items]

Fixed interest rate on derivative

3.15%

Interest Rate Swap | American Assets Trust, L.P. | Term Loan C

Debt Instrument [Line Items]

Fixed interest rate on derivative

3.14%

3.14%

2.64%

Interest Rate Swap | American Assets Trust, L.P. | Term Loan A

Debt Instrument [Line Items]

Fixed interest rate on derivative

2.70%

4.13%

DEBT - Summary of Total Unsecur

DEBT - Summary of Total Unsecured Notes Payable Outstanding (Details)

Jan. 05, 2023 USD ($) extension

Oct. 01, 2020 USD ($)

Jul. 17, 2019 USD ($)

Jan. 09, 2019 extension

Jun. 23, 2017 USD ($)

May 11, 2017 USD ($)

Jan. 18, 2017 USD ($)

Jan. 04, 2023 USD ($)

Dec. 31, 2022 USD ($) interest_rate_swap_agreement

Nov. 30, 2022 USD ($)

Dec. 31, 2021 USD ($)

Jan. 26, 2021 USD ($)

Jul. 30, 2019 USD ($)

Nov. 26, 2018

Mar. 01, 2018

Jan. 09, 2018 USD ($)

Jul. 19, 2017 USD ($)

May 23, 2017 USD ($)

Mar. 01, 2017 USD ($)

May 02, 2016 USD ($)

Mar. 23, 2016 USD ($)

Mar. 01, 2016 USD ($)

Jan. 29, 2016 USD ($)

Jan. 09, 2014 USD ($)

Debt Instrument [Line Items]

Total Unsecured Notes Payable

$ 1,539,453,000

$ 1,538,238,000

American Assets Trust, L.P.

Debt Instrument [Line Items]

Total Unsecured Notes Payable

1,539,453,000

1,538,238,000

American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

1,550,000,000

1,550,000,000

Debt discount and issuance costs, net of accumulated amortization of $11,709 and $9,462, respectively

(10,547,000)

(11,762,000)

Total Unsecured Notes Payable

1,539,453,000

1,538,238,000

Debt issuance costs, accumulated amortization

11,709,000

9,462,000

American Assets Trust, L.P. | Interest Rate Swap

Debt Instrument [Line Items]

Gain on derivatives

$ 0

American Assets Trust, L.P. | Forward Contracts

Debt Instrument [Line Items]

Loss on derivatives

$ 500,000

Gain on derivatives

$ 500,000

$ 700,000

$ 10,400,000

Term Loan A | American Assets Trust, L.P.

Debt Instrument [Line Items]

Total Unsecured Notes Payable

$ 100,000,000

Face amount of debt

$ 225,000,000

Term Loan A | American Assets Trust, L.P. | Subsequent Event

Debt Instrument [Line Items]

Face amount of debt

$ 225,000,000

Term Loan A | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

$ 100,000,000

100,000,000

Number of extensions available | extension

3

Extension term

1 year

Term Loan A | American Assets Trust, L.P. | Interest Rate Swap

Debt Instrument [Line Items]

Number of interest rate | interest_rate_swap_agreement

2

Fixed interest rate on derivative

2.70%

4.13%

Term Loan B & Term Loan C | Unsecured Debt | Subsequent Event

Debt Instrument [Line Items]

Number of extensions available | extension

1

Extension term

12 months

Face amount of debt

$ 225,000,000

$ 150,000,000

Term Loan B & Term Loan C | American Assets Trust, L.P. | Subsequent Event

Debt Instrument [Line Items]

Number of extensions available | extension

1

Extension term

12 months

Face amount of debt

$ 75,000,000

150,000,000

Term Loan B & Term Loan C | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Face amount of debt

$ 150,000,000

Term Loan B & Term Loan C | American Assets Trust, L.P. | Unsecured Debt | Subsequent Event

Debt Instrument [Line Items]

Number of extensions available | extension

1

Extension term

12 months

Face amount of debt

$ 225,000,000

$ 150,000,000

Term Loan B | American Assets Trust, L.P.

Debt Instrument [Line Items]

Face amount of debt

$ 100,000,000

$ 100,000,000

Term Loan B | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

$ 100,000,000

100,000,000

Face amount of debt

$ 100,000,000

Term Loan B | American Assets Trust, L.P. | Interest Rate Swap

Debt Instrument [Line Items]

Fixed interest rate on derivative

3.15%

2.65%

Variable interest rate on derivative

5.32%

Term Loan B | American Assets Trust, L.P. | Interest Rate Swap | Unsecured Debt

Debt Instrument [Line Items]

Fixed interest rate on derivative

3.15%

Term Loan C | American Assets Trust, L.P.

Debt Instrument [Line Items]

Face amount of debt

$ 50,000,000

$ 50,000,000

Term Loan C | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

$ 50,000,000

50,000,000

Face amount of debt

$ 50,000,000

Term Loan C | American Assets Trust, L.P. | Interest Rate Swap

Debt Instrument [Line Items]

Fixed interest rate on derivative

3.14%

2.64%

3.14%

Variable interest rate on derivative

5.32%

Senior Guaranteed Notes, Series F | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

$ 100,000,000

100,000,000

Stated Interest Rate

3.78%

3.78%

Face amount of debt

$ 100,000,000

Senior Guaranteed Notes, Series F | American Assets Trust, L.P. | Forward Contracts

Debt Instrument [Line Items]

Effective interest rate (percent)

3.85%

Senior Guaranteed Notes, Series B | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

$ 100,000,000

100,000,000

Stated Interest Rate

4.45%

Senior Guaranteed Notes, Series C | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

$ 100,000,000

100,000,000

Stated Interest Rate

4.50%

Senior Guaranteed Notes, Series D | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

$ 250,000,000

250,000,000

Stated Interest Rate

4.29%

4.29%

Face amount of debt

$ 250,000,000

Senior Guaranteed Notes, Series D | American Assets Trust, L.P. | Forward Contracts

Debt Instrument [Line Items]

Effective interest rate (percent)

3.87%

Senior Guaranteed Notes, Series E | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

$ 100,000,000

100,000,000

Stated Interest Rate

4.24%

4.24%

Face amount of debt

$ 100,000,000

Senior Guaranteed Notes, Series E | American Assets Trust, L.P. | Forward Contracts

Debt Instrument [Line Items]

Effective interest rate (percent)

4.18%

Senior Guaranteed Notes, Series G | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

150,000,000

$ 150,000,000

Stated Interest Rate

3.91%

3.91%

Senior Guaranteed Notes, Series G | American Assets Trust, L.P. | Forward Contracts

Debt Instrument [Line Items]

Effective interest rate (percent)

3.88%

3.375% Senior Unsecured Notes | American Assets Trust, L.P.

Debt Instrument [Line Items]

Stated Interest Rate

3.375%

3.375%

3.375% Senior Unsecured Notes | American Assets Trust, L.P. | Unsecured Debt

Debt Instrument [Line Items]

Principal Balance as of

$ 500,000,000

$ 500,000,000

Stated Interest Rate

3.38%

Face amount of debt

$ 500,000,000

DEBT - Scheduled Principal Paym

DEBT - Scheduled Principal Payments on Notes Payable (Details) $ in Thousands	Jan. 05, 2023 USD ($) extension	Jan. 04, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023			$ 150,000
2024			100,000
2025			200,000
2026			0
2027			425,000
Thereafter			750,000
Notes payable, total			$ 1,625,000
Term Loan B & Term Loan C | Unsecured Debt | Subsequent Event
Debt Instrument [Line Items]
Face amount of debt	$ 225,000	$ 150,000
Number of extensions available | extension	1
Extension term	12 months

DERIVATIVE AND HEDGING ACTIVI_3

DERIVATIVE AND HEDGING ACTIVITIES (Details)

12 Months Ended

Jan. 05, 2023 USD ($)

Nov. 30, 2022 USD ($) property

Jan. 14, 2022 USD ($) property

Oct. 01, 2020 USD ($)

Aug. 11, 2020 USD ($)

Jul. 17, 2019 USD ($)

Jun. 20, 2019 USD ($)

Jun. 23, 2017 USD ($)

May 31, 2017 USD ($)

May 11, 2017 USD ($)

Apr. 25, 2017 USD ($)

Mar. 31, 2017

Jan. 18, 2017 USD ($)

May 02, 2016 USD ($)

Apr. 07, 2016 USD ($)

Mar. 29, 2016 USD ($)

Mar. 23, 2016 USD ($)

Mar. 01, 2016 USD ($)

Jan. 29, 2016 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Nov. 26, 2018

Mar. 01, 2018

May 23, 2017 USD ($)

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Interest rate swap asset

$ 9,986,000

$ 0

Interest rate swap liability

(196,000)

$ (1,807,000)

Reclassified within twelve months

1,100,000

Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Notional Amount

$ 100,000,000

$ 150,000,000

Fixed interest rate on derivative

1.748%

1.88%

American Assets Trust, L.P. | Interest Rate Swap

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Term of derivative contract

7 years

10 years

10 years

10 years

10 years

Gain on derivatives

$ 0

American Assets Trust, L.P. | Not Designated as Hedging Instrument | Treasury Lock

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Term of derivative contract

10 years

Notional Amount

$ 200,000,000

Fixed interest rate on derivative

0.7115%

American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Term of derivative contract

2 years

7 years

7 years

Notional Amount

$ 50,000,000

$ 100,000,000

$ 100,000,000

Fixed interest rate on derivative

1.441%

1.4485%

4.13%

Gain/Loss recognized in other comprehensive income (loss)

$ 1,100,000

$ 10,400,000

Calculation period

2 days

2 days

American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Treasury Lock

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Term of derivative contract

10 years

Notional Amount

$ 100,000,000

$ 100,000,000

$ 100,000,000

Fixed interest rate on derivative

1.9925%

2.064%

2.313%

Gain/Loss recognized in other comprehensive income (loss)

$ (500,000)

$ 700,000

Gain on derivatives

$ 500,000

amortized to interest expense over period

10 years

Wells Fargo Bank, N.A. And Bank Of America, N.A. | American Assets Trust, L.P. | Not Designated as Hedging Instrument | Treasury Lock

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Term of derivative contract

5 years

Notional Amount

$ 50,000,000

Number of interest rate swap contracts | property

2

Calculation period

2 days

Wells Fargo Bank, N.A. And Bank Of America, N.A. | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Treasury Lock

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Fixed interest rate on derivative

2.70%

Wells Fargo Bank, N.A. | American Assets Trust, L.P. | Not Designated as Hedging Instrument | Treasury Lock

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Number of interest rate swap contracts | property

1

1

Wells Fargo Bank, N.A. | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap, 3/31/2027 $150M

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Notional Amount

$ 150,000,000

Wells Fargo Bank, N.A. | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap, 3/31/2027 $100M

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Notional Amount

$ 100,000,000

Wells Fargo Bank, N.A. | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap, 1/5/2027

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Notional Amount

$ 50,000,000

Interest rate swap asset

4,476,000

Wells Fargo Bank, N.A. | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap, 1/5/2025

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Notional Amount

150,000,000

Interest rate swap asset

1,042,000

Bank Of America, N.A. | American Assets Trust, L.P. | Not Designated as Hedging Instrument | Treasury Lock

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Number of interest rate swap contracts | property

1

Bank Of America, N.A. | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap, 1/5/2027

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Notional Amount

50,000,000

Interest rate swap asset

4,468,000

Mizuho Capital Markets LLC | American Assets Trust, L.P. | Not Designated as Hedging Instrument | Treasury Lock

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Number of interest rate swap contracts | property

1

Mizuho Capital Markets LLC | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap, 1/5/2025

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Notional Amount

75,000,000

Interest rate swap liability

$ (196,000)

Wells Fargo Bank, National Association And Mizuho Capital Markets LLC | American Assets Trust, L.P. | Not Designated as Hedging Instrument | Treasury Lock

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Term of derivative contract

2 years

Notional Amount

$ 225,000,000

Number of interest rate swap contracts | property

2

Wells Fargo Bank, National Association And Mizuho Capital Markets LLC | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Treasury Lock

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Fixed interest rate on derivative

4.17%

Calculation period

2 days

Term Loan B | American Assets Trust, L.P.

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Face amount of debt

$ 100,000,000

$ 100,000,000

Number of year amortization schedule

2 years

7 years

7 years

Term Loan B | American Assets Trust, L.P. | Subsequent Event

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Number of year amortization schedule

2 years

Term Loan B | American Assets Trust, L.P. | Interest Rate Swap

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Fixed interest rate on derivative

3.15%

2.65%

Term Loan C | American Assets Trust, L.P.

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Face amount of debt

$ 50,000,000

$ 50,000,000

Number of year amortization schedule

7 years

7 years

Term Loan C | American Assets Trust, L.P. | Interest Rate Swap

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Fixed interest rate on derivative

3.14%

3.14%

2.64%

Unsecured Debt | American Assets Trust, L.P.

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Number of year amortization schedule

11 years

10 years

Term Loan A | American Assets Trust, L.P.

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Face amount of debt

$ 225,000,000

Term Loan A | American Assets Trust, L.P. | Subsequent Event

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Face amount of debt

$ 225,000,000

Term Loan A | American Assets Trust, L.P. | Interest Rate Swap

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Fixed interest rate on derivative

2.70%

4.13%

Unsecured Debt | Term Loan B | American Assets Trust, L.P.

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Face amount of debt

$ 100,000,000

Unsecured Debt | Term Loan B | American Assets Trust, L.P. | Interest Rate Swap

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Fixed interest rate on derivative

3.15%

Unsecured Debt | Term Loan C | American Assets Trust, L.P.

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Face amount of debt

$ 50,000,000

Unsecured Debt | Senior Guaranteed Notes, Series E | American Assets Trust, L.P.

Derivative Instruments and Hedging Activities Disclosures [Line Items]

Face amount of debt

$ 100,000,000

Number of year amortization schedule

12 years

PARTNERS' CAPITAL OF AMERICAN_2

PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P. (Details)	12 Months Ended
	Dec. 31, 2022 shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
Common Shares
Capital Unit [Line Items]
Conversion of operating partnership units (in shares)			209,011
American Assets Trust, L.P.
Capital Unit [Line Items]
Ownership percent by parent	78.80%
American Assets Trust, L.P.
Capital Unit [Line Items]
Non-controlling common units (in shares)	16,181,537
American Assets Trust, L.P. | Common Shares
Capital Unit [Line Items]
Redemption ratio	1
Conversion of operating partnership units (in shares)	0	0	209,011
Non-Affiliated Investors | American Assets Trust, L.P.
Capital Unit [Line Items]
Percentage of ownership interests classified as noncontrolling	21.20%

EQUITY OF AMERICAN ASSETS TRU_3

EQUITY OF AMERICAN ASSETS TRUST, INC. - Narrative (Details) $ / shares in Units, $ in Millions		12 Months Ended
	Dec. 03, 2021 USD ($) sales_agent	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($) shares
Equity [Line Items]
Preferred stock, shares authorized (in shares)		10,000,000
Preferred stock, par-value (in dollars per share) | $ / shares		$ 0.01
Preferred stock, shares issued (in shares)		0
Equity incentive award plan, common stock authorized for issuance (in shares)		4,054,411
Equity incentive award plan, common stock available for future issuance (in shares)		2,183,962
Look back period		3 years
Noncash compensation expense | $		$ 8.7	$ 8.5	$ 6.3
Unrecognized compensation expense | $		$ 9.4
American Assets Trust, L.P.
Equity [Line Items]
Antidilutive securities excluded from computation of EPS (in shares)		489,765	485,202	357,048
Restricted Stock
Equity [Line Items]
Vesting period		3 years
Unrecognized compensation expense, weighted-average recognition period (in years)		1 year 6 months 7 days
Restricted Stock | Share-Based Payment Arrangement, Tranche One
Equity [Line Items]
Performance period		1 year
Restricted Stock | Share-Based Payment Arrangement, Tranche Two
Equity [Line Items]
Performance period		2 years
Restricted Stock | Share-Based Payment Arrangement, Tranche Three
Equity [Line Items]
Performance period		3 years
At The Market Equity Program
Equity [Line Items]
Aggregate offering price of common share | $	$ 250
Common shares issued (in shares)		0
Remaining capacity available for issuance | $		$ 250
$250.0 Million ATM | At The Market Equity Program
Equity [Line Items]
Number of sales agents | sales_agent	5
Operating Partnership Units | American Assets Trust, L.P.
Equity [Line Items]
Weighted average unvested shares outstanding (in shares)		489,765	485,202	357,048

EQUITY OF AMERICAN ASSETS TRU_4

EQUITY OF AMERICAN ASSETS TRUST, INC. - Dividends Declared and Paid on Shares of Common Stock and Noncontrolling Common Units (Details) - $ / shares													12 Months Ended
	Dec. 22, 2022	Sep. 22, 2022	Jun. 23, 2022	Mar. 24, 2022	Dec. 23, 2021	Sep. 23, 2021	Jun. 24, 2021	Mar. 25, 2021	Dec. 24, 2020	Sep. 24, 2020	Jun. 25, 2020	Mar. 26, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Amount per Share/Unit (in dollars per unit)	$ 0.32	$ 0.32	$ 0.32	$ 0.32	$ 0.30	$ 0.30	$ 0.28	$ 0.28	$ 0.25	$ 0.25	$ 0.20	$ 0.30	$ 1.28	$ 1.16	$ 1

EQUITY OF AMERICAN ASSETS TRU_5

EQUITY OF AMERICAN ASSETS TRUST, INC. - Summary of Income Tax Status of Dividends Per Share Paid (Details) - $ / shares													12 Months Ended
	Dec. 22, 2022	Sep. 22, 2022	Jun. 23, 2022	Mar. 24, 2022	Dec. 23, 2021	Sep. 23, 2021	Jun. 24, 2021	Mar. 25, 2021	Dec. 24, 2020	Sep. 24, 2020	Jun. 25, 2020	Mar. 26, 2020	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Ordinary income (in USD per share)													$ 1.18	$ 0.73	$ 0.66
Capital gain (in USD per share)													0	0	0
Return of capital (in USD per share)													0.10	0.43	0.34
Total (in dollars per share)	$ 0.32	$ 0.32	$ 0.32	$ 0.32	$ 0.30	$ 0.30	$ 0.28	$ 0.28	$ 0.25	$ 0.25	$ 0.20	$ 0.30	$ 1.28	$ 1.16	$ 1
Ordinary income													92.10%	62.60%	66%
Capital gain													0%	0%	0%
Return of capital													7.90%	37.40%	34%
Total													100%	100%	100%

EQUITY OF AMERICAN ASSETS TRU_6

EQUITY OF AMERICAN ASSETS TRUST, INC. - Restricted Common Stock Issued (Details) - Restricted Stock - $ / shares	Dec. 07, 2022	Jun. 07, 2022	Dec. 09, 2021	Jun. 08, 2021	Dec. 04, 2020	Jun. 09, 2020	Dec. 09, 2019	Dec. 06, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in USD per share)		$ 32.94		$ 38.59		$ 33.29
Granted, Shares	319,610	6,072	224,635	5,184	311,566	6,008
Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights					33.30%		33.30%	33.30%
Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights					33.30%		33.30%	33.30%
Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights					33.30%		33.30%	33.30%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in USD per share)	$ 18.53		$ 24.27		$ 19.02
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in USD per share)	$ 19.52		$ 25.17		$ 20.83

EQUITY OF AMERICAN ASSETS TRU_7

EQUITY OF AMERICAN ASSETS TRUST, INC. - Summary of Activity of Restricted Stock Awards (Details) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2022 $ / shares shares
Nonvested, Number of Shares
Nonvested, Beginning, Shares | shares	487,397
Granted, Shares | shares	325,682
Vested, Shares | shares	(132,239)
Forfeited, Shares | shares	(106,796)
Nonvested, Ending, Shares | shares	574,044
Nonvested, Weighted Average Grant Date Fair Value
Nonvested, Beginning (in USD per Share) | $ / shares	$ 23.78
Granted (in USD per share) | $ / shares	19.28
Vested (in USD per share) | $ / shares	24.86
Forfeited (in USD per share) | $ / shares	23.78
Nonvested, End of Year, Weighted Average Grant Date Fair Value (in USD per Share) | $ / shares	$ 20.98

EQUITY OF AMERICAN ASSETS TRU_8

EQUITY OF AMERICAN ASSETS TRUST, INC. - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
NUMERATOR
Net income	$ 12,406	$ 16,369	$ 13,588	$ 13,514	$ 10,478	$ 12,895	$ 11,487	$ 1,733	$ 55,877	$ 36,593	$ 35,588
Less: Net income attributable to restricted shares	(184)	(155)	(154)	(155)	(147)	(145)	(135)	(137)	(648)	(564)	(383)
Less: Income attributable to unitholders in the Operating Partnership	(2,593)	(3,442)	(2,852)	(2,836)	(2,194)	(2,709)	(2,411)	(339)	(11,723)	(7,653)	(7,545)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS									43,506	28,376	27,660
Net income attributable to American Assets Trust, Inc. stockholders									43,506	28,376	27,660
Plus: Income attributable to unitholders in the Operating Partnership	$ 2,593	$ 3,442	$ 2,852	$ 2,836	$ 2,194	$ 2,709	$ 2,411	$ 339	11,723	7,653	7,545
Net income attributable to common stockholders—diluted									$ 55,229	$ 36,029	$ 35,205
DENOMINATOR
Weighted average shares of common stock outstanding-basic (in shares)									60,048,970	59,990,740	59,806,309
Effect of dilutive securities-conversion of Operating Partnership units (in shares)									16,181,537	16,181,537	16,313,454
Weighted average common shares outstanding - diluted (in shares)									76,230,507	76,172,277	76,119,763
EARNINGS PER COMMON SHARE, BASIC
Basic income attributable to common stockholders per share (in USD per share)	$ 0.16	$ 0.21	$ 0.18	$ 0.18	$ 0.14	$ 0.17	$ 0.15	$ 0.02	$ 0.72	$ 0.47	$ 0.46
EARNINGS PER COMMON SHARE, DILUTED
Diluted income attributable to common stockholders per share (in USD per share)	$ 0.16	$ 0.21	$ 0.18	$ 0.18	$ 0.14	$ 0.17	$ 0.15	$ 0.02	$ 0.72	$ 0.47	$ 0.46

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Deferred tax asset	$ 700	$ 600
Deferred tax liabilities	$ 852	$ 967

INCOME TAXES - Income Tax Provi

INCOME TAXES - Income Tax Provision Included in Other Income Expense on Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Current:
Federal	$ 0	$ 0	$ (542)
State	1,063	483	412
Deferred:
Federal	8	118	(80)
State	(221)	137	201
Provision for income taxes (benefit)	$ 850	$ 738	$ (9)

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) mo property	Dec. 31, 2021
Commitment And Contingencies [Line Items]
Termination payment, as high as | $	$ 6,000
Transfer taxes accrued in connection with the Offering | $	$ 6,600
Maximum percentage of total revenue provided by any single tenant	10%	10%
Total Revenues | Total Revenues, Property | Alamo Quarry Market and Waikele Center
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	9%	9.10%
Base Rent | Customer Concentration Risk | Google LLC at The Landmark at One Market
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	9.40%
Base Rent | Rental Income | Three Tenants
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	14.30%
Revenue Benchmark | Product Concentration Risk | Office Building
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	48.10%	49.60%
Revenue Benchmark | Product Concentration Risk | Retail Site
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	23.90%	25.20%
Southern California
Commitment And Contingencies [Line Items]
Number of consolidated properties located in Southern California | property	15
Southern California | Total Revenue | Total Revenues, Property
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	40.20%
Hawaii | Total Revenue | Total Revenues, Property
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	14.20%
Minimum | Ground Water Contamination | Del Monte Center
Commitment And Contingencies [Line Items]
Environmental remediation monitoring period	5 years
Maximum | Base Rent | Customer Concentration Risk
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	2%
Maximum | Ground Water Contamination | Del Monte Center
Commitment And Contingencies [Line Items]
Environmental remediation monitoring period	7 years
Waikiki Beach Walk - Retail
Commitment And Contingencies [Line Items]
Property management fee, percent	3%
Outrigger Hotels
Commitment And Contingencies [Line Items]
Property management fee, percent	6%
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
Payment for management fee | $	$ 12
Termination notice period	30 days
Outrigger Hotels | Year of Agreement, 12th
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	15 years
Outrigger Hotels | Year of Agreement, 13th
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	14 years
Outrigger Hotels | Year of Agreement, 14th
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	13 years
Outrigger Hotels | Year of Agreement, 15th
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	12 years
Outrigger Hotels | Maximum
Commitment And Contingencies [Line Items]
Property management fee, percent	3%
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%
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%
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%

LEASES - Narrative (Details)

LEASES - Narrative (Details)	12 Months Ended
	Dec. 31, 2022 state lease
Lessor, Lease, Description [Line Items]
Operating leases rental period terms	12 months
Number of States | state	5
Minimum
Lessor, Lease, Description [Line Items]
Term of office and retail leases	3 years
Term of apartment leases	7 months
Lease extension option period	3 years
Lease extension options exercise period	6 months
Maximum
Lessor, Lease, Description [Line Items]
Term of office and retail leases	10 years
Term of apartment leases	15 months
Lease extension option period	10 years
Lease extension options exercise period	12 months
The Land Mark at One Market
Lessor, Lease, Description [Line Items]
Lease extension option exercise period	5 years
Retail Or Office
Lessor, Lease, Description [Line Items]
Number of leases	894
Residential Property
Lessor, Lease, Description [Line Items]
Number of leases	1,818

LEASES - Minimum Future Rentals

LEASES - Minimum Future Rentals from Noncancelable Operating Leases (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Leases [Abstract]
2023	$ 249,967
2024	226,431
2025	202,843
2026	186,930
2027	163,204
Thereafter	298,683
Total	$ 1,328,058

LEASES - Lease Obligations - Mi

LEASES - Lease Obligations - Minimum Future Rental Payments from Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
2023	$ 3,328
2024	3,428
2025	3,531
2026	3,584
2027	3,584
Thereafter	12,543
Total lease payments	29,998
Imputed interest	(4,322)
Present value of lease liability	$ 25,676	$ 27,917

LEASES - Lease Costs & Addition

LEASES - Lease Costs & Additional Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Leases [Abstract]
Operating lease cost	$ 3,377	$ 3,926
Sublease income	(3,416)	(3,634)
Total lease (income) cost	$ (39)	$ 292
Weighted-average remaining lease term - operating leases (in years)	8 years 6 months
Weighted-average discount rate - operating leases (as a percent)	3.19%

LEASES - Supplemental Lease Inf

LEASES - Supplemental Lease Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$ 3,232	$ 2,791

COMPONENTS OF RENTAL INCOME A_3

COMPONENTS OF RENTAL INCOME AND EXPENSE - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Leases, Income Statement, Lease Revenue [Abstract]
Recognition of straight-line rents	$ 5.9	$ 14	$ 18.9
Recognition of amortization of above and below market leases	$ 3.3	$ 3.2	$ 3.9

COMPONENTS OF RENTAL INCOME A_4

COMPONENTS OF RENTAL INCOME AND EXPENSE - Component of Rental Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Rental Income [Line Items]
Percentage rent	$ 4,004	$ 4,337	$ 3,516
Hotel revenue	38,115	24,935	17,209
Other	2,615	2,351	2,185
Total rental income	402,507	360,208	330,312
Office
Rental Income [Line Items]
Minimum rents	196,793	180,704	170,853
Retail
Rental Income [Line Items]
Minimum rents	95,574	89,326	82,176
Multifamily
Rental Income [Line Items]
Minimum rents	53,816	48,654	47,071
Mixed-Use
Rental Income [Line Items]
Minimum rents	$ 11,590	$ 9,901	$ 7,302

COMPONENTS OF RENTAL INCOME A_5

COMPONENTS OF RENTAL INCOME AND EXPENSE - Components of Rental Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating Leases, Income Statement, Lease Revenue [Abstract]
Rental operating	$ 47,832	$ 41,488	$ 38,194
Hotel operating	25,833	17,518	13,691
Repairs and maintenance	22,222	18,113	17,813
Marketing	2,379	1,779	2,023
Rent	3,215	4,023	3,955
Hawaii excise tax	4,081	2,792	2,479
Management fees	2,083	1,267	1,023
Total rental expenses	$ 107,645	$ 86,980	$ 79,178

OTHER (EXPENSE) INCOME (Details

OTHER (EXPENSE) INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other Income and Expenses [Abstract]
Interest and investment income	$ 225	$ 324	$ 436
Income tax (expense) benefit	(850)	(738)	9
Other non-operating (expense) income	0	(4)	2
Other (expense) income, net	$ (625)	$ (418)	$ 447

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands				12 Months Ended
	Jun. 01, 2021	Mar. 01, 2021	Mar. 01, 2019	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Rental income				$ 402,507	$ 360,208	$ 330,312
American Assets, Inc. | Board of Directors Chairman
Related Party Transaction [Line Items]
Lessor, Operating Lease, Term of Contract		10 years	3 years
Rental income		$ 200	$ 200	300	300	200
EDisability, LLC | Board of Directors Chairman
Related Party Transaction [Line Items]
Lessor, Operating Lease, Term of Contract	3 years
Rental income	$ 100			100	100	200
AAI Aviation, Inc. | Board of Directors Chairman
Related Party Transaction [Line Items]
Aviation expense				$ 200	200	0
WBW CHP LLC | Affiliated Entity
Related Party Transaction [Line Items]
Investment in WBW CHP LLC, in percentage				47.70%
Recovered reimbursements of operating expenses of WBW CHP LLC				$ 1,300	$ 1,000	$ 1,000
Insurance Company of the West, Inc. | Board of Directors Chairman
Related Party Transaction [Line Items]
Percentage of ownership interests classified as noncontrolling				34.70%
Insurance Company of the West, Inc. | Common Shares | Board of Directors Chairman
Related Party Transaction [Line Items]
Percentage of ownership interests classified as noncontrolling				15.50%
Insurance Company of the West, Inc. | Member Units | Board of Directors Chairman
Related Party Transaction [Line Items]
Percentage of ownership interests classified as noncontrolling				19.40%

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	12 Months Ended
	Dec. 31, 2022 room segment
Segment Reporting [Abstract]
Number of operating segments | segment	4
Rooms 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								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
OPERATING INCOME	$ 27,073	$ 31,003	$ 28,316	$ 28,342	$ 25,715	$ 27,669	$ 26,423	$ 20,062	$ 114,734	$ 99,869	$ 88,581
Total segments’ profit									270,215	246,054	223,454
Total Office
Segment Reporting Information [Line Items]
Property revenue									203,391	186,366	177,554
Property expense									(57,478)	(50,233)	(47,424)
OPERATING INCOME									145,913	136,133	130,130
Total Retail
Segment Reporting Information [Line Items]
Property revenue									100,912	94,662	88,280
Property expense									(30,306)	(27,983)	(27,374)
OPERATING INCOME									70,606	66,679	60,906
Total Multifamily
Segment Reporting Information [Line Items]
Property revenue									58,139	52,315	50,327
Property expense									(26,256)	(23,211)	(22,074)
OPERATING INCOME									31,883	29,104	28,253
Total Mixed-Use
Segment Reporting Information [Line Items]
Property revenue									60,206	42,485	28,412
Property expense									(38,393)	(28,347)	(24,247)
OPERATING INCOME									$ 21,813	$ 14,138	$ 4,165

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of Segment Profit to Net Income Attributable to Stockholders (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
Total segments’ profit									$ 270,215	$ 246,054	$ 223,454
General and administrative									(32,143)	(29,879)	(26,581)
Depreciation and amortization									(123,338)	(116,306)	(108,292)
Interest expense									(58,232)	(58,587)	(53,440)
Loss on early extinguishment of debt									0	(4,271)	0
Other (expense) income, net									(625)	(418)	447
Net income	$ 12,406	$ 16,369	$ 13,588	$ 13,514	$ 10,478	$ 12,895	$ 11,487	$ 1,733	55,877	36,593	35,588
Net income attributable to restricted shares	(184)	(155)	(154)	(155)	(147)	(145)	(135)	(137)	(648)	(564)	(383)
Net income attributable to unitholders in the Operating Partnership	$ (2,593)	$ (3,442)	$ (2,852)	$ (2,836)	$ (2,194)	$ (2,709)	$ (2,411)	$ (339)	(11,723)	(7,653)	(7,545)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS									$ 43,506	$ 28,376	$ 27,660

SEGMENT REPORTING - Net Real Es

SEGMENT REPORTING - Net Real Estate and Secured Note Payable Balances for Each Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net real estate	$ 2,734,556	$ 2,681,981
Secured Notes Payable	75,000	111,000
Capital Expenditures	121,155	107,730
Office
Segment Reporting Information [Line Items]
Net real estate	1,615,479	1,536,212
Secured Notes Payable	75,000	111,000
Capital Expenditures	102,443	93,116
Retail
Segment Reporting Information [Line Items]
Net real estate	579,219	591,107
Secured Notes Payable	0	0
Capital Expenditures	12,177	7,232
Multifamily
Segment Reporting Information [Line Items]
Net real estate	370,993	381,315
Capital Expenditures	4,889	5,841
Mixed-Use
Segment Reporting Information [Line Items]
Net real estate	168,865	173,347
Capital Expenditures	1,646	1,541
American Assets Trust, L.P.
Segment Reporting Information [Line Items]
Net real estate	2,734,556	2,681,981
Secured notes payable | American Assets Trust, L.P.
Segment Reporting Information [Line Items]
Debt issuance costs	$ 422	$ 35

QUARTERLY FINANCIAL INFORMATI_3

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) - Selected Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Quarterly Financial Information [Line Items]
Revenues	$ 106,000	$ 111,023	$ 104,155	$ 101,470	$ 101,747	$ 98,286	$ 91,809	$ 83,986	$ 422,648	$ 375,828	$ 344,573
Operating income (loss)	27,073	31,003	28,316	28,342	25,715	27,669	26,423	20,062	114,734	99,869	88,581
Net income	12,406	16,369	13,588	13,514	10,478	12,895	11,487	1,733	55,877	36,593	35,588
Net income attributable to restricted shares	(184)	(155)	(154)	(155)	(147)	(145)	(135)	(137)	(648)	(564)	(383)
Net income attributable to unitholders in the Operating Partnership	(2,593)	(3,442)	(2,852)	(2,836)	(2,194)	(2,709)	(2,411)	(339)	$ (11,723)	$ (7,653)	$ (7,545)
Net income attributable to American Assets Trust, Inc. stockholders	$ 9,629	$ 12,772	$ 10,582	$ 10,523	$ 8,137	$ 10,041	$ 8,941	$ 1,257
Net income per share attributable to common stockholders - basic (in USD per share)	$ 0.16	$ 0.21	$ 0.18	$ 0.18	$ 0.14	$ 0.17	$ 0.15	$ 0.02	$ 0.72	$ 0.47	$ 0.46
Net income per share attributable to common stockholders - diluted (in USD per share)	$ 0.16	$ 0.21	$ 0.18	$ 0.18	$ 0.14	$ 0.17	$ 0.15	$ 0.02	$ 0.72	$ 0.47	$ 0.46
American Assets Trust, L.P.
Quarterly Financial Information [Line Items]
Revenues	$ 106,000	$ 111,023	$ 104,155	$ 101,470	$ 101,747	$ 98,286	$ 91,809	$ 83,986	$ 422,648	$ 375,828	$ 344,573
Operating income (loss)	27,073	31,003	28,316	28,342	25,715	27,669	26,423	20,062	114,734	99,869	88,581
Net income	12,406	16,369	13,588	13,514	10,478	12,895	11,487	1,733	55,877	36,593	35,588
Net income attributable to restricted shares	(184)	(155)	(154)	(155)	(147)	(145)	(135)	(137)	$ (648)	$ (564)	$ (383)
Net income attributable to American Assets Trust, L.P. unit holders	$ 12,222	$ 16,214	$ 13,434	$ 13,359	$ 10,331	$ 12,750	$ 11,352	$ 1,596
Net income per share attributable to common stockholders - basic (in USD per share)	$ 0.16	$ 0.21	$ 0.18	$ 0.18	$ 0.14	$ 0.17	$ 0.15	$ 0.02	$ 0.72	$ 0.47	$ 0.46
Net income per share attributable to common stockholders - diluted (in USD per share)	$ 0.16	$ 0.21	$ 0.18	$ 0.18	$ 0.14	$ 0.17	$ 0.15	$ 0.02	$ 0.72	$ 0.47	$ 0.46

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event $ in Millions	Jan. 06, 2023 USD ($)	Jan. 05, 2023 USD ($) extension	Jan. 03, 2023 USD ($)	Jan. 04, 2023 USD ($)
Subsequent Event [Line Items]
Proceeds from legal settlements			$ 6.3
Term Loan B & Term Loan C | Unsecured Debt
Subsequent Event [Line Items]
Face amount of debt		$ 225		$ 150
Number of extensions available | extension		1
Extension term		12 months
Third Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility
Subsequent Event [Line Items]
Repayments of credit line	$ 36

SCHEDULE III-Consolidated Rea_2

SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 75,000
Initial Cost, Land	666,352
Initial Cost, Building and Improvements	1,954,013
Cost Capitalized Subsequent to Acquisition	1,051,104
Gross Carrying Amount, Land	701,326
Gross Carrying Amount, Building and Improvements	2,970,143
Accumulated Depreciation and Amortization	(936,913)	$ (847,390)	$ (754,140)	$ (665,222)
The aggregate tax basis for Federal tax purposes	2,500,000
Alamo Quarry Market
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	0
Initial Cost, Land	26,396
Initial Cost, Building and Improvements	109,294
Cost Capitalized Subsequent to Acquisition	26,226
Gross Carrying Amount, Land	26,816
Gross Carrying Amount, Building and Improvements	135,100
Accumulated Depreciation and Amortization	$ (72,135)
Life on which depreciation in latest income statements is computed	35 years
Carmel Country Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	4,200
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	13,609
Gross Carrying Amount, Land	4,200
Gross Carrying Amount, Building and Improvements	13,609
Accumulated Depreciation and Amortization	$ (9,790)
Life on which depreciation in latest income statements is computed	35 years
Carmel Mountain Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	22,477
Initial Cost, Building and Improvements	65,217
Cost Capitalized Subsequent to Acquisition	40,192
Gross Carrying Amount, Land	31,034
Gross Carrying Amount, Building and Improvements	96,852
Accumulated Depreciation and Amortization	$ (53,546)
Life on which depreciation in latest income statements is computed	35 years
Del Monte Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	27,412
Initial Cost, Building and Improvements	87,570
Cost Capitalized Subsequent to Acquisition	33,250
Gross Carrying Amount, Land	27,117
Gross Carrying Amount, Building and Improvements	121,115
Accumulated Depreciation and Amortization	$ (74,353)
Life on which depreciation in latest income statements is computed	35 years
Gateway Marketplace
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	17,363
Initial Cost, Building and Improvements	21,644
Cost Capitalized Subsequent to Acquisition	1,239
Gross Carrying Amount, Land	17,363
Gross Carrying Amount, Building and Improvements	22,883
Accumulated Depreciation and Amortization	$ (4,633)
Life on which depreciation in latest income statements is computed	35 years
Geary Marketplace
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	8,239
Initial Cost, Building and Improvements	12,353
Cost Capitalized Subsequent to Acquisition	227
Gross Carrying Amount, Land	8,239
Gross Carrying Amount, Building and Improvements	12,580
Accumulated Depreciation and Amortization	$ (3,996)
Life on which depreciation in latest income statements is computed	35 years
Hassalo on Eighth - Retail
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	0
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	28,688
Gross Carrying Amount, Land	597
Gross Carrying Amount, Building and Improvements	28,091
Accumulated Depreciation and Amortization	$ (9,188)
Life on which depreciation in latest income statements is computed	35 years
Lomas Santa Fe Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	8,600
Initial Cost, Building and Improvements	11,282
Cost Capitalized Subsequent to Acquisition	14,207
Gross Carrying Amount, Land	8,620
Gross Carrying Amount, Building and Improvements	25,469
Accumulated Depreciation and Amortization	$ (19,510)
Life on which depreciation in latest income statements is computed	35 years
The Shops at Kalakaua
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	13,993
Initial Cost, Building and Improvements	10,817
Cost Capitalized Subsequent to Acquisition	144
Gross Carrying Amount, Land	14,006
Gross Carrying Amount, Building and Improvements	10,948
Accumulated Depreciation and Amortization	$ (5,695)
Life on which depreciation in latest income statements is computed	35 years
Solana Beach Towne Centre
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	40,980
Initial Cost, Building and Improvements	38,842
Cost Capitalized Subsequent to Acquisition	4,785
Gross Carrying Amount, Land	40,980
Gross Carrying Amount, Building and Improvements	43,627
Accumulated Depreciation and Amortization	$ (16,625)
Life on which depreciation in latest income statements is computed	35 years
South Bay Marketplace
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	4,401
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	13,034
Gross Carrying Amount, Land	4,401
Gross Carrying Amount, Building and Improvements	13,034
Accumulated Depreciation and Amortization	$ (8,772)
Life on which depreciation in latest income statements is computed	35 years
Waikele Center
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	55,593
Initial Cost, Building and Improvements	126,858
Cost Capitalized Subsequent to Acquisition	44,974
Gross Carrying Amount, Land	70,644
Gross Carrying Amount, Building and Improvements	156,781
Accumulated Depreciation and Amortization	$ (76,642)
Life on which depreciation in latest income statements is computed	35 years
City Center Bellevue
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 75,000
Initial Cost, Land	25,135
Initial Cost, Building and Improvements	190,998
Cost Capitalized Subsequent to Acquisition	51,599
Gross Carrying Amount, Land	25,135
Gross Carrying Amount, Building and Improvements	242,597
Accumulated Depreciation and Amortization	$ (75,340)
Life on which depreciation in latest income statements is computed	40 years
Eastgate Office Park
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	35,822
Initial Cost, Building and Improvements	82,737
Cost Capitalized Subsequent to Acquisition	1,243
Gross Carrying Amount, Land	35,822
Gross Carrying Amount, Building and Improvements	83,980
Accumulated Depreciation and Amortization	$ (4,805)
Life on which depreciation in latest income statements is computed	40 years
Corporate Campus East III
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	23,203
Initial Cost, Building and Improvements	55,992
Cost Capitalized Subsequent to Acquisition	2,918
Gross Carrying Amount, Land	23,203
Gross Carrying Amount, Building and Improvements	58,910
Accumulated Depreciation and Amortization	$ (2,612)
Life on which depreciation in latest income statements is computed	40 years
Bel-Spring 520
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	13,744
Initial Cost, Building and Improvements	30,339
Cost Capitalized Subsequent to Acquisition	22
Gross Carrying Amount, Land	13,744
Gross Carrying Amount, Building and Improvements	30,361
Accumulated Depreciation and Amortization	$ (1,007)
Life on which depreciation in latest income statements is computed	40 years
First & Main
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	14,697
Initial Cost, Building and Improvements	109,739
Cost Capitalized Subsequent to Acquisition	11,565
Gross Carrying Amount, Land	14,697
Gross Carrying Amount, Building and Improvements	121,304
Accumulated Depreciation and Amortization	$ (41,405)
Life on which depreciation in latest income statements is computed	40 years
The Land Mark at One Market
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	34,575
Initial Cost, Building and Improvements	141,196
Cost Capitalized Subsequent to Acquisition	34,632
Gross Carrying Amount, Land	34,575
Gross Carrying Amount, Building and Improvements	175,828
Accumulated Depreciation and Amortization	$ (55,366)
Life on which depreciation in latest income statements is computed	40 years
Lloyd District Portfolio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	18,660
Initial Cost, Building and Improvements	61,401
Cost Capitalized Subsequent to Acquisition	105,236
Gross Carrying Amount, Land	11,845
Gross Carrying Amount, Building and Improvements	173,452
Accumulated Depreciation and Amortization	$ (58,036)
Life on which depreciation in latest income statements is computed	40 years
One Beach Street
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	15,332
Initial Cost, Building and Improvements	18,017
Cost Capitalized Subsequent to Acquisition	37,688
Gross Carrying Amount, Land	15,332
Gross Carrying Amount, Building and Improvements	55,705
Accumulated Depreciation and Amortization	$ (4,456)
Life on which depreciation in latest income statements is computed	40 years
Solana Beach Corporate Centre I-II
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	7,111
Initial Cost, Building and Improvements	17,100
Cost Capitalized Subsequent to Acquisition	8,904
Gross Carrying Amount, Land	7,111
Gross Carrying Amount, Building and Improvements	26,004
Accumulated Depreciation and Amortization	$ (9,131)
Life on which depreciation in latest income statements is computed	40 years
Solana Beach Corporate Centre III-IV
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	7,298
Initial Cost, Building and Improvements	27,887
Cost Capitalized Subsequent to Acquisition	7,474
Gross Carrying Amount, Land	7,298
Gross Carrying Amount, Building and Improvements	35,361
Accumulated Depreciation and Amortization	$ (11,814)
Life on which depreciation in latest income statements is computed	40 years
Solana Beach Corporate Centre Land
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	487
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	60
Gross Carrying Amount, Land	547
Gross Carrying Amount, Building and Improvements	0
Accumulated Depreciation and Amortization	0
Torrey Plaza
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	0
Initial Cost, Land	4,095
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	64,054
Gross Carrying Amount, Land	5,408
Gross Carrying Amount, Building and Improvements	62,741
Accumulated Depreciation and Amortization	$ (25,708)
Life on which depreciation in latest income statements is computed	40 years
Pacific North Court
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	3,263
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	32,234
Gross Carrying Amount, Land	4,309
Gross Carrying Amount, Building and Improvements	31,188
Accumulated Depreciation and Amortization	$ (14,940)
Life on which depreciation in latest income statements is computed	40 years
Pacific South Court
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	3,285
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	39,937
Gross Carrying Amount, Land	4,226
Gross Carrying Amount, Building and Improvements	38,996
Accumulated Depreciation and Amortization	$ (18,644)
Life on which depreciation in latest income statements is computed	40 years
Pacific VC
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	1,413
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	10,677
Gross Carrying Amount, Land	2,148
Gross Carrying Amount, Building and Improvements	9,942
Accumulated Depreciation and Amortization	$ (6,380)
Life on which depreciation in latest income statements is computed	40 years
Pacific Torrey Daycare
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	715
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	1,963
Gross Carrying Amount, Land	911
Gross Carrying Amount, Building and Improvements	1,767
Accumulated Depreciation and Amortization	$ (1,097)
Life on which depreciation in latest income statements is computed	40 years
Torrey Reserve Building 6
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	0
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	8,013
Gross Carrying Amount, Land	682
Gross Carrying Amount, Building and Improvements	7,331
Accumulated Depreciation and Amortization	$ (2,660)
Life on which depreciation in latest income statements is computed	40 years
Torrey Reserve Building 5
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	0
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	4,012
Gross Carrying Amount, Land	1,017
Gross Carrying Amount, Building and Improvements	2,995
Accumulated Depreciation and Amortization	$ (839)
Life on which depreciation in latest income statements is computed	40 years
Torrey Reserve Building 13 & 14
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	0
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	16,157
Gross Carrying Amount, Land	2,188
Gross Carrying Amount, Building and Improvements	13,969
Accumulated Depreciation and Amortization	$ (4,362)
Life on which depreciation in latest income statements is computed	40 years
Torrey Point
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	2,073
Initial Cost, Building and Improvements	741
Cost Capitalized Subsequent to Acquisition	49,815
Gross Carrying Amount, Land	5,050
Gross Carrying Amount, Building and Improvements	47,579
Accumulated Depreciation and Amortization	$ (7,707)
Life on which depreciation in latest income statements is computed	40 years
La Jolla Commons One & Two
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	62,312
Initial Cost, Building and Improvements	393,662
Cost Capitalized Subsequent to Acquisition	3,761
Gross Carrying Amount, Land	62,312
Gross Carrying Amount, Building and Improvements	397,423
Accumulated Depreciation and Amortization	$ (46,846)
Life on which depreciation in latest income statements is computed	40 years
La Jolla Commons - Land
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	20,446
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	93,190
Gross Carrying Amount, Land	20,446
Gross Carrying Amount, Building and Improvements	93,190
Accumulated Depreciation and Amortization	0
Imperial Beach Gardens
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	0
Initial Cost, Land	1,281
Initial Cost, Building and Improvements	4,820
Cost Capitalized Subsequent to Acquisition	6,767
Gross Carrying Amount, Land	1,281
Gross Carrying Amount, Building and Improvements	11,587
Accumulated Depreciation and Amortization	$ (9,029)
Life on which depreciation in latest income statements is computed	30 years
Loma Palisades
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	14,000
Initial Cost, Building and Improvements	16,570
Cost Capitalized Subsequent to Acquisition	36,980
Gross Carrying Amount, Land	14,052
Gross Carrying Amount, Building and Improvements	53,498
Accumulated Depreciation and Amortization	$ (33,405)
Life on which depreciation in latest income statements is computed	30 years
Mariner's Point
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	2,744
Initial Cost, Building and Improvements	4,540
Cost Capitalized Subsequent to Acquisition	2,250
Gross Carrying Amount, Land	2,744
Gross Carrying Amount, Building and Improvements	6,790
Accumulated Depreciation and Amortization	$ (4,513)
Life on which depreciation in latest income statements is computed	30 years
Santa Fe Park Rv Resort
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	401
Initial Cost, Building and Improvements	928
Cost Capitalized Subsequent to Acquisition	1,539
Gross Carrying Amount, Land	401
Gross Carrying Amount, Building and Improvements	2,467
Accumulated Depreciation and Amortization	$ (1,687)
Life on which depreciation in latest income statements is computed	30 years
Pacific Ridge Apartments
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	47,971
Initial Cost, Building and Improvements	178,497
Cost Capitalized Subsequent to Acquisition	3,479
Gross Carrying Amount, Land	47,971
Gross Carrying Amount, Building and Improvements	181,976
Accumulated Depreciation and Amortization	$ (38,188)
Life on which depreciation in latest income statements is computed	30 years
Hassalo on Eighth - Residential
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	0
Initial Cost, Building and Improvements	0
Cost Capitalized Subsequent to Acquisition	178,564
Gross Carrying Amount, Land	6,219
Gross Carrying Amount, Building and Improvements	172,345
Accumulated Depreciation and Amortization	$ (43,513)
Life on which depreciation in latest income statements is computed	30 years
Waikiki Beach Walk - Retail
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	45,995
Initial Cost, Building and Improvements	74,943
Cost Capitalized Subsequent to Acquisition	1,024
Gross Carrying Amount, Land	45,995
Gross Carrying Amount, Building and Improvements	75,967
Accumulated Depreciation and Amortization	$ (27,336)
Life on which depreciation in latest income statements is computed	35 years
Waikiki Beach Walk Hotel
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2022	$ 0
Initial Cost, Land	30,640
Initial Cost, Building and Improvements	60,029
Cost Capitalized Subsequent to Acquisition	14,772
Gross Carrying Amount, Land	30,640
Gross Carrying Amount, Building and Improvements	74,801
Accumulated Depreciation and Amortization	$ (31,202)
Life on which depreciation in latest income statements is computed	35 years

SCHEDULE III-Consolidated Rea_3

SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Real estate assets
Balance, beginning of period	$ 3,529,371	$ 3,246,874	$ 3,188,697
Property acquisitions	44,076	197,754	0
Improvements	116,613	93,455	64,997
Cost of Real Estate Sold	0	0	0
Other	(18,591)	(8,712)	(6,820)
Balance, end of period	3,671,469	3,529,371	3,246,874
Accumulated depreciation
Balance, beginning of period	847,390	754,140	665,222
Additions—depreciation	108,118	101,962	95,738
Cost of Real Estate Sold	0	0	0
Other	(18,595)	(8,712)	(6,820)
Balance, end of period	$ 936,913	$ 847,390	$ 754,140