American Assets Trust Inc
For the period ended Dec 31, 2024. Filed Feb 12, 2025.
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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.
FY2024 · Filed Feb 12, 2025
AAT$21.55-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Schedule III—Consolidated Real Estate and Accumulated Depreciation F-
SCHEDULE III—Consolidated Real Estate and Accumulated Depreciation
| Encumbrance as of December 31, 2024 · Initial Cost · Cost Capitalized Subsequent to Acquisition · Gross Carrying Amountat December 31, 2024 · AccumulatedDepreciation andAmortization · Year Built/Most Recent Renovation · 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 | $33,816 | $26,816 | $142,690 | $(81,971) | 1997/1999 | 12/9/2003 | 35 years |
| Carmel Country Plaza | — | 4,200 | — | 14,094 | 4,200 | 14,094 | (10,787) | 1991 | 1/10/1989 | 35 years |
| Carmel Mountain Plaza | — | 22,477 | 65,217 | 43,388 | 31,034 | 100,048 | (60,361) | 1994/2020 | 3/28/2003 | 35 years |
| Gateway Marketplace | — | 17,363 | 21,644 | 1,175 | 17,363 | 22,819 | (6,264) | 1997/2016 | 7/6/2017 | 35 years |
| Geary Marketplace | — | 8,239 | 12,353 | 297 | 8,239 | 12,650 | (4,789) | 2012 | 12/19/2012 | 35 years |
| Hassalo on Eighth - Retail | — | — | — | 27,886 | 597 | 27,289 | (11,071) | 2015 | 7/1/2011 | 35 years |
| Lomas Santa Fe Plaza | — | 8,600 | 11,282 | 14,043 | 8,620 | 25,305 | (21,007) | 1972/1997 | 6/12/1995 | 35 years |
| The Shops at Kalakaua | — | 13,993 | 10,817 | 157 | 14,006 | 10,961 | (6,362) | 1971/2006 | 3/31/2005 | 35 years |
| Solana Beach Towne Centre | — | 40,980 | 38,842 | 5,413 | 40,980 | 44,255 | (19,609) | 1973/2004 | 1/19/2011 | 35 years |
| South Bay Marketplace | — | 4,401 | — | 13,022 | 4,401 | 13,022 | (9,544) | 1997/2018 | 9/16/1995 | 35 years |
| Waikele Center | — | 55,593 | 126,858 | 44,549 | 70,644 | 156,356 | (86,587) | 1993/2008 | 9/16/2004 | 35 years |
| City Center Bellevue | 75,000 | 25,135 | 190,998 | 56,692 | 25,135 | 247,690 | (91,763) | 1987/2023 | 8/21/2012 | 40 years |
| 14Acres | — | 35,822 | 82,737 | 15,776 | 35,822 | 98,513 | (10,680) | 1985/2024 | 7/7/2021 | 40 years |
| Timber Ridge | — | 23,203 | 55,992 | 4,417 | 23,203 | 60,409 | (7,044) | 1986 | 9/10/2021 | 40 years |
| Timber Springs | — | 13,744 | 30,339 | 1,783 | 13,744 | 32,122 | (3,365) | 1983 | 3/8/2022 | 40 years |
| First & Main | — | 14,697 | 109,739 | 12,950 | 14,697 | 122,689 | (49,372) | 2010 | 3/11/2011 | 40 years |
| The Landmark at One Market | — | 34,575 | 141,196 | 34,966 | 34,575 | 176,162 | (70,137) | 1917/2000 | 6/30/2010 | 40 years |
| Lloyd Portfolio | — | 18,660 | 61,401 | 111,153 | 11,845 | 179,369 | (72,353) | 1940/2022 | 7/1/2011 | 40 years |
| One Beach Street | — | 15,332 | 18,017 | 43,525 | 15,332 | 61,542 | (5,091) | 1924/2024 | 1/24/2012 | 40 years |
| Solana Crossing: | ||||||||||
| Solana Crossing I-II | — | 7,111 | 17,100 | 10,549 | 7,111 | 27,649 | (10,602) | 1982/2022 | 1/19/2011 | 40 years |
| Solana Crossing III-IV | — | 7,298 | 27,887 | 9,660 | 7,298 | 37,547 | (14,358) | 1982/2022 | 1/19/2011 | 40 years |
| Solana Crossing Land | — | 487 | — | — | 487 | — | — | N/A | 1/19/2011 | N/A |
| Torrey Reserve Campus: | ||||||||||
| Torrey Plaza | — | 4,095 | — | 63,357 | 5,408 | 62,044 | (29,687) | 1996-1997/2014 | 6/6/1989 | 40 years |
| Pacific North Court | — | 3,263 | — | 38,118 | 4,309 | 37,072 | (18,317) | 1997-1998 | 6/6/1989 | 40 years |
| Pacific South Court | — | 3,285 | — | 38,918 | 4,226 | 37,977 | (20,197) | 1996-1997 | 6/6/1989 | 40 years |
| Pacific VC | — | 1,413 | — | 10,939 | 2,148 | 10,204 | (7,022) | 1998-2000 | 6/6/1989 | 40 years |
| Pacific Torrey Daycare | — | 715 | — | 1,963 | 911 | 1,767 | (1,209) | 1996-1997 | 6/6/1989 | 40 years |
| Torrey Reserve Building 6 | — | — | — | 6,833 | 682 | 6,151 | (1,922) | 2013 | 6/6/1989 | 40 years |
| Torrey Reserve Building 5 | — | — | — | 3,573 | 1,017 | 2,556 | (598) | 2014 | 6/6/1989 | 40 years |
| Torrey Reserve Building 13 & 14 | — | — | — | 16,631 | 2,188 | 14,443 | (5,674) | 2015 | 6/6/1989 | 40 years |
| Torrey Point | — | 2,073 | 741 | 49,900 | 5,050 | 47,664 | (12,140) | 2018 | 5/9/1997 | 40 years |
| La Jolla Commons | ||||||||||
| La Jolla Commons I-II | — | 62,312 | 393,662 | 18,804 | 62,312 | 412,466 | (71,999) | 2008/2014 | 6/20/2019 | 40 years |
| La Jolla Commons Land | — | 20,446 | — | 127,070 | 20,446 | 127,070 | (63) | N/A | 6/20/2019 | N/A |
| Imperial Beach Gardens | — | 1,281 | 4,820 | 8,873 | 1,281 | 13,693 | (8,808) | 1959/2023 | 7/31/1985 | 30 years |
| Loma Palisades | — | 14,000 | 16,570 | 39,635 | 14,052 | 56,153 | (34,564) | 1958/2022 | 7/20/1990 | 30 years |
| Mariner’s Point | — | 2,744 | 4,540 | 1,945 | 2,744 | 6,485 | (4,608) | 1986 | 5/9/2001 | 30 years |
| Santa Fe Park RV Resort | — | 401 | 928 | 1,516 | 401 | 2,444 | (1,768) | 1971/2008 | 6/1/1979 | 30 years |
SCHEDULE III—Consolidated Real Estate and Accumulated Depreciation
| Encumbrance as of December 31, 2024 · Initial Cost · Cost Capitalized Subsequent to Acquisition · Gross Carrying Amountat December 31, 2024 · AccumulatedDepreciation andAmortization · Year Built/Most Recent Renovation · Date Acquired · Life on which depreciation in latest income statements is computed | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Description · Land · Building andImprovements · Land · Building andImprovements | ||||||||||
| Pacific Ridge Apartments | — | 47,971 | 178,497 | 1,492 | 47,971 | 179,989 | (48,549) | 2013 | 4/28/2017 | 30 years |
| Hassalo on Eighth - Multifamily | — | — | — | 177,226 | 6,219 | 171,007 | (53,126) | 2015 | 7/1/2011 | 30 years |
| Waikiki Beach Walk: | ||||||||||
| Retail | — | 45,995 | 74,943 | 2,304 | 45,995 | 77,247 | (32,022) | 2006 | 1/19/2011 | 35 years |
| Hotel | — | 30,640 | 60,029 | 12,573 | 30,640 | 72,602 | (33,488) | 2008/2020 | 1/19/2011 | 35 years |
| $75,000 | $638,940 | $1,866,443 | $1,120,981 | $674,149 | $2,952,215 | $(1,038,878) | ||||
The table above excludes the real estate assets held for sale as of December 31, 2024
(1) For Federal tax purposes, the aggregate tax basis is approximately $2.5 billion as of December 31, 2024, excluding the real estate assets held for sale.
SCHEDULE III—Consolidated Real Estate and Accumulated Depreciation -(Continued)
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Real estate assets | |||
| Balance, beginning of period | $3,741,768 | 3,671,469 | 3,529,371 |
| Additions: | |||
| Property acquisitions | — | — | 44,076 |
| Improvements | 68,484 | 78,249 | 116,613 |
| Deductions: | |||
| Real estate assets held for sale | (154,134) | — | — |
| Other (1) | (29,754) | (7,950) | (18,591) |
| Balance, end of period | $3,626,364 | $3,741,768 | $3,671,469 |
| Accumulated depreciation | |||
| Balance, beginning of period | $1,036,453 | $936,913 | $847,390 |
| Additions—depreciation | 111,727 | 106,306 | 108,118 |
| Deductions: | |||
| Real estate assets held for sale | (80,435) | — | — |
| Other (2) | (28,867) | (6,766) | (18,595) |
| Balance, end of period | $1,038,878 | $1,036,453 | $936,913 |
(1)Other deductions for the years ended December 31, 2024, 2023 and 2022 represent the write-off of fully depreciated assets and certain incomplete development costs written off.
(2)Other deductions for the years ended December 31, 2024, 2023 and 2022 represent the write-off of fully depreciated assets.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.