American Assets Trust Inc
For the period ended Dec 31, 2023. Filed Feb 14, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 14, 2024
AAT$21.55-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Schedule III—Consolidated Real Estate and Accumulated Depreciation F-
SCHEDULE III—Consolidated Real Estate and Accumulated Depreciation
| Encumbrance as of December 31, 2023 · Initial Cost · Cost Capitalized Subsequent to Acquisition · Gross Carrying Amountat December 31, 2023 · AccumulatedDepreciation andAmortization · Year Built/Renovated · Date Acquired · Life on which depreciation in latest income statements is computed | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Description · Land · Building andImprovements · Land · Building andImprovements | ||||||||||
| Alamo Quarry Market | $— | $26,396 | $109,294 | $29,607 | $26,816 | $138,481 | $(76,918) | 1997/1999 | 12/9/2003 | 35 years |
| Carmel Country Plaza | — | 4,200 | — | 13,706 | 4,200 | 13,706 | (10,303) | 1991 | 1/10/1989 | 35 years |
| Carmel Mountain Plaza | — | 22,477 | 65,217 | 43,130 | 31,034 | 99,790 | (56,949) | 1994/2014 | 3/28/2003 | 35 years |
| Del Monte Center | — | 27,412 | 87,570 | 34,082 | 27,117 | 121,947 | (77,808) | 1967/1984/2006 | 4/8/2004 | 35 years |
| Gateway Marketplace | — | 17,363 | 21,644 | 1,127 | 17,363 | 22,771 | (5,440) | 1997/2016 | 7/6/2017 | 35 years |
| Geary Marketplace | — | 8,239 | 12,353 | 300 | 8,239 | 12,653 | (4,384) | 2012 | 12/19/2012 | 35 years |
| Hassalo on Eighth - Retail | — | — | — | 28,217 | 597 | 27,620 | (10,020) | 2015 | 7/1/2011 | 35 years |
| Lomas Santa Fe Plaza | — | 8,600 | 11,282 | 13,658 | 8,620 | 24,920 | (20,309) | 1972/1997 | 6/12/1995 | 35 years |
| The Shops at Kalakaua | — | 13,993 | 10,817 | 157 | 14,006 | 10,961 | (6,050) | 1971/2006 | 3/31/2005 | 35 years |
| Solana Beach Towne Centre | — | 40,980 | 38,842 | 5,223 | 40,980 | 44,065 | (18,096) | 1973/2000/2004 | 1/19/2011 | 35 years |
| South Bay Marketplace | — | 4,401 | — | 13,001 | 4,401 | 13,001 | (9,140) | 1997 | 9/16/1995 | 35 years |
| Waikele Center | — | 55,593 | 126,858 | 44,909 | 70,644 | 156,716 | (81,702) | 1993/2008 | 9/16/2004 | 35 years |
| City Center Bellevue | 75,000 | 25,135 | 190,998 | 55,397 | 25,135 | 246,395 | (83,994) | 1987 | 8/21/2012 | 40 years |
| Eastgate Office Park | — | 35,822 | 82,737 | 8,554 | 35,822 | 91,291 | (7,585) | 1985 | 7/7/2021 | 40 years |
| Corporate Campus East III | — | 23,203 | 55,992 | 3,478 | 23,203 | 59,470 | (4,824) | 1986 | 9/10/2021 | 40 years |
| Bel-Spring 520 | — | 13,744 | 30,339 | 1,171 | 13,744 | 31,510 | (2,232) | 1983 | 3/8/2022 | 40 years |
| First & Main | — | 14,697 | 109,739 | 12,828 | 14,697 | 122,567 | (45,395) | 2010 | 3/11/2011 | 40 years |
| The Landmark at One Market | — | 34,575 | 141,196 | 34,954 | 34,575 | 176,150 | (63,256) | 1917/2000 | 6/30/2010 | 40 years |
| Lloyd Portfolio | — | 18,660 | 61,401 | 104,774 | 11,845 | 172,990 | (64,638) | 1940-2015 | 7/1/2011 | 40 years |
| One Beach Street | — | 15,332 | 18,017 | 41,655 | 15,332 | 59,672 | (4,457) | 1924/1972/1987/1992 | 1/24/2012 | 40 years |
| Solana Crossing: | ||||||||||
| Solana Crossing I-II | — | 7,111 | 17,100 | 9,963 | 7,111 | 27,063 | (9,742) | 1982/2005 | 1/19/2011 | 40 years |
| Solana Crossing III-IV | — | 7,298 | 27,887 | 7,939 | 7,298 | 35,826 | (13,016) | 1982/2005 | 1/19/2011 | 40 years |
| Solana Crossing Land | — | 487 | — | — | 487 | — | — | N/A | 1/19/2011 | N/A |
| Torrey Reserve Campus: | ||||||||||
| Torrey Plaza | — | 4,095 | — | 67,509 | 5,408 | 66,196 | (28,969) | 1996-1997/2014 | 6/6/1989 | 40 years |
| Pacific North Court | — | 3,263 | — | 35,967 | 4,309 | 34,921 | (16,482) | 1997-1998 | 6/6/1989 | 40 years |
| Pacific South Court | — | 3,285 | — | 39,878 | 4,226 | 38,937 | (20,103) | 1996-1997 | 6/6/1989 | 40 years |
| Pacific VC | — | 1,413 | — | 10,946 | 2,148 | 10,211 | (6,705) | 1998/2000 | 6/6/1989 | 40 years |
| Pacific Torrey Daycare | — | 715 | — | 1,963 | 911 | 1,767 | (1,153) | 1996-1997 | 6/6/1989 | 40 years |
| Torrey Reserve Building 6 | — | — | — | 8,012 | 682 | 7,330 | (2,945) | 2013 | 6/6/1989 | 40 years |
| Torrey Reserve Building 5 | — | — | — | 4,012 | 1,017 | 2,995 | (999) | 2014 | 6/6/1989 | 40 years |
| Torrey Reserve Building 13 & 14 | — | — | — | 16,403 | 2,188 | 14,215 | (5,095) | 2015 | 6/6/1989 | 40 years |
| Torrey Point | — | 2,073 | 741 | 49,886 | 5,050 | 47,650 | (9,921) | 2018 | 5/9/1997 | 40 years |
| La Jolla Commons | ||||||||||
| La Jolla Commons I-II | — | 62,312 | 393,662 | 12,201 | 62,312 | 405,863 | (57,847) | 2008-2014 | 6/20/2019 | 40 years |
| La Jolla Commons Land | — | 20,446 | — | 112,718 | 20,446 | 112,718 | — | N/A | 6/20/2019 | N/A |
| Imperial Beach Gardens | — | 1,281 | 4,820 | 7,825 | 1,281 | 12,645 | (9,405) | 1959/2008 | 7/31/1985 | 30 years |
| Loma Palisades | — | 14,000 | 16,570 | 40,087 | 14,052 | 56,605 | (35,027) | 1958/2001 - 2008/2021 | 7/20/1990 | 30 years |
| Mariner’s Point | — | 2,744 | 4,540 | 2,282 | 2,744 | 6,822 | (4,801) | 1986 | 5/9/2001 | 30 years |
SCHEDULE III—Consolidated Real Estate and Accumulated Depreciation -(Continued)
| Encumbrance as of December 31, 2023 · Initial Cost · Cost Capitalized Subsequent to Acquisition · Gross Carrying Amountat December 31, 2023 · AccumulatedDepreciation andAmortization · Year Built/Renovated · Date Acquired · Life on which depreciation in latest income statements is computed | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Description · Land · Building andImprovements · Land · Building andImprovements | ||||||||||
| Santa Fe Park RV Resort | — | 401 | 928 | 1,577 | 401 | 2,505 | (1,762) | 1971/2007-2008 | 6/1/1979 | 30 years |
| Pacific Ridge Apartments | — | 47,971 | 178,497 | 4,223 | 47,971 | 182,720 | (45,181) | 2013 | 4/28/2017 | 30 years |
| Hassalo on Eighth - Multifamily | — | — | — | 178,871 | 6,219 | 172,652 | (49,208) | 2015 | 7/1/2011 | 30 years |
| Waikiki Beach Walk: | ||||||||||
| Retail | — | 45,995 | 74,943 | 2,085 | 45,995 | 77,028 | (29,655) | 2006 | 1/19/2011 | 35 years |
| Hotel | — | 30,640 | 60,029 | 17,128 | 30,640 | 77,157 | (34,937) | 2008/2014/2020 | 1/19/2011 | 35 years |
| $75,000 | $666,352 | $1,954,013 | $1,121,403 | $701,266 | $3,040,502 | $(1,036,453) | ||||
(1) For Federal tax purposes, the aggregate tax basis is approximately $2.5 billion as of December 31, 2023.
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Real estate assets | |||
| Balance, beginning of period | $3,671,469 | 3,529,371 | 3,246,874 |
| Additions: | |||
| Property acquisitions | — | 44,076 | 197,754 |
| Improvements | 78,249 | 116,613 | 93,455 |
| Deductions: | |||
| Cost of Real Estate Sold | — | — | — |
| Other (1) | (7,950) | (18,591) | (8,712) |
| Balance, end of period | $3,741,768 | $3,671,469 | $3,529,371 |
| Accumulated depreciation | |||
| Balance, beginning of period | $936,913 | $847,390 | $754,140 |
| Additions—depreciation | 106,306 | 108,118 | 101,962 |
| Deductions: | |||
| Cost of Real Estate Sold | — | — | — |
| Other (2) | (6,766) | (18,595) | (8,712) |
| Balance, end of period | $1,036,453 | $936,913 | $847,390 |
(1)Other deductions for the years ended December 31, 2023, 2022 and 2021 represent the write-off of fully depreciated assets and certain incomplete development costs written off.
(2)Other deductions for the years ended December 31, 2023, 2022 and 2021 represent the write-off of fully depreciated assets.
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