| X | ||||||||||
- Definition Boolean flag that is true when the XBRL content amends previously-filed or accepted submission. No definition available.
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- Definition Area code of city No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition Boolean flag that is true only for a form used as an annual report. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY. No definition available.
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- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition Boolean flag that is true only for a form used as a transition report. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'. No definition available.
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- Definition Address Line 1 such as Attn, Building Name, Street Name No definition available.
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- Definition Address Line 2 such as Street or Suite number No definition available.
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- Definition Name of the City or Town No definition available.
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- Definition Code for the postal or zip code No definition available.
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- Definition Name of the state or province. No definition available.
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| X | ||||||||||
- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition Indicate if registrant meets the emerging growth company criteria. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen. No definition available.
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- Definition Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Two-character EDGAR code representing the state or country of incorporation. No definition available.
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- Definition Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter. No definition available.
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicates that the company is a Smaller Reporting Company (SRC). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition Local phone number for entity. No definition available.
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- Definition Title of a 12(b) registered security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Name of the Exchange on which a security is registered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Trading symbol of an instrument as listed on an exchange. No definition available.
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- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total carrying amount as of the balance sheet date of unearned revenue or income, not otherwise specified in the taxonomy, which is expected to be taken into income in future periods and obligations not separately disclosed in the balance sheet (other liabilities). No definition available.
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- Definition The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property, by the lessor or lessee, respectively. Such receivable is reduced by allowances attributable to, for instance, credit risk associated with a lessee. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of the general partner's ownership interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying amount of land available for development. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of the limited partners' ownership interests. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Carrying amount of income producing properties held for rental. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of cash and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition This element represents money paid in advance to protect the provider of a product or service, such as a lessor, against damage or nonpayment by the buyer or tenant (lessee) during the term of the agreement. Such damages may include physical damage to the property, theft of property, and other contractual breaches. Security deposits held may be interest or noninterest bearing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Consolidated Balance Sheets (Parenthetical) - $ / shares |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| American Assets Trust, L.P. | ||
| Limited Partners' Capital Account, Units Issued | 16,390,548 | 17,177,608 |
| Limited Partners' Capital Account, Units Outstanding | 16,390,548 | 17,177,608 |
| General Partners' Capital Account, Units Issued | 60,068,228 | 47,335,409 |
| General Partners' Capital Account, Units Outstanding | 60,068,228 | 47,335,409 |
| Common Stock | ||
| Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 490,000,000 | 490,000,000 |
| Common stock, shares issued | 60,068,228 | 47,335,409 |
| Common stock, shares outstanding | 60,068,228 | 47,335,409 |
| X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The number of general partner units issued. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The number of general partner units outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The number of limited partner units issued. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The number of limited partner units outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||||
| REVENUE: | |||||||||
| Rental income | $ 343,865 | $ 309,537 | $ 298,803 | ||||||
| Other property income | 22,876 | 21,330 | 16,180 | ||||||
| Total revenue | 366,741 | 330,867 | 314,983 | ||||||
| EXPENSES: | |||||||||
| Rental expenses | 91,967 | 86,482 | 84,006 | ||||||
| Real estate taxes | 40,013 | 34,973 | 32,671 | ||||||
| General and administrative | 24,871 | 22,784 | 21,382 | ||||||
| Depreciation and amortization | 96,205 | 107,093 | 83,278 | ||||||
| Total operating expenses | 253,056 | 251,332 | 221,337 | ||||||
| Operating income (loss) | 113,685 | 79,535 | 93,646 | ||||||
| Interest expense | (54,008) | (52,248) | (53,848) | ||||||
| Gain on sale of real estate | 633 | 0 | 0 | ||||||
| Other income (expense), net | (122) | (85) | 334 | ||||||
| Net income | 60,188 | 27,202 | 40,132 | ||||||
| Net income attributable to restricted shares | (381) | (311) | (241) | ||||||
| Net income attributable to unitholders in the Operating Partnership | (14,089) | (7,205) | (10,814) | ||||||
| NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS | $ 45,718 | $ 19,686 | $ 29,077 | ||||||
| EARNINGS PER COMMON SHARE, BASIC | |||||||||
| Basic net income attributable to common stockholders per share (in dollars per share) | $ 0.84 | $ 0.42 | $ 0.62 | ||||||
| Weighted average shares of common stock outstanding-basic (in shares) | 54,110,949 | 46,950,812 | 46,715,520 | ||||||
| EARNINGS PER COMMON SHARE, DILUTED | |||||||||
| Diluted net income attributable to common stockholders per share (in dollars per share) | $ 0.84 | $ 0.42 | $ 0.62 | ||||||
| Weighted average shares of common stock outstanding-diluted (in shares) | 70,786,132 | 64,136,559 | 64,087,250 | ||||||
| COMPREHENSIVE INCOME | |||||||||
| Net income | $ 60,188 | $ 27,202 | $ 40,132 | ||||||
| Other comprehensive (loss) gain - unrealized (loss) gain on swap derivative during the period | (5,571) | 120 | 386 | ||||||
| Reclassification of amortization of forward starting swap included in interest expense | (1,304) | (1,279) | (1,114) | ||||||
| Comprehensive income | 53,313 | 26,043 | 39,404 | ||||||
| Comprehensive income attributable to noncontrolling interest | (12,301) | (6,877) | (10,433) | ||||||
| Comprehensive income attributable to American Assets Trust, Inc. | 41,012 | 19,166 | 28,971 | ||||||
| American Assets Trust, L.P. | |||||||||
| REVENUE: | |||||||||
| Rental income | 343,865 | 309,537 | 298,803 | ||||||
| Other property income | 22,876 | 21,330 | 16,180 | ||||||
| Total revenue | 366,741 | 330,867 | 314,983 | ||||||
| EXPENSES: | |||||||||
| Rental expenses | 91,967 | 86,482 | 84,006 | ||||||
| Real estate taxes | 40,013 | 34,973 | 32,671 | ||||||
| General and administrative | 24,871 | 22,784 | 21,382 | ||||||
| Depreciation and amortization | 96,205 | 107,093 | 83,278 | ||||||
| Total operating expenses | 253,056 | 251,332 | 221,337 | ||||||
| Operating income (loss) | 113,685 | 79,535 | 93,646 | ||||||
| Interest expense | (54,008) | (52,248) | (53,848) | ||||||
| Gain on sale of real estate | 633 | 0 | 0 | ||||||
| Other income (expense), net | (122) | (85) | 334 | ||||||
| Net income | 60,188 | 27,202 | 40,132 | ||||||
| Net income attributable to restricted shares | (381) | (311) | (241) | ||||||
| NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS | $ 59,807 | $ 26,891 | $ 39,891 | ||||||
| EARNINGS PER COMMON SHARE, BASIC | |||||||||
| Basic net income attributable to common stockholders per share (in dollars per share) | $ 0.84 | $ 0.42 | $ 0.62 | ||||||
| Weighted average shares of common stock outstanding-basic (in shares) | 70,786,132 | 64,136,559 | 64,087,250 | ||||||
| EARNINGS PER COMMON SHARE, DILUTED | |||||||||
| Diluted net income attributable to common stockholders per share (in dollars per share) | $ 0.84 | $ 0.42 | $ 0.62 | ||||||
| Weighted average shares of common stock outstanding-diluted (in shares) | 70,786,132 | 64,136,559 | 64,087,250 | ||||||
| DISTRIBUTIONS PER UNIT (in dollars per share) | $ 1.14 | $ 1.09 | $ 1.05 | ||||||
| COMPREHENSIVE INCOME | |||||||||
| Net income | $ 60,188 | $ 27,202 | $ 40,132 | ||||||
| Reclassification of amortization of forward starting swap included in interest expense | (1,304) | (1,279) | (1,114) | ||||||
| Comprehensive income | 53,313 | 26,043 | 39,404 | ||||||
| American Assets Trust, L.P. | Limited Partner | |||||||||
| EXPENSES: | |||||||||
| Net income | 14,089 | 7,205 | [1] | 10,814 | [1] | ||||
| COMPREHENSIVE INCOME | |||||||||
| Net income | 14,089 | 7,205 | [1] | 10,814 | [1] | ||||
| Comprehensive income attributable to American Assets Trust, Inc. | (12,301) | (6,877) | (10,433) | ||||||
| American Assets Trust, L.P. | General Partner | |||||||||
| EXPENSES: | |||||||||
| Net income | 46,099 | 19,997 | [2] | 29,318 | [2] | ||||
| COMPREHENSIVE INCOME | |||||||||
| Net income | 46,099 | 19,997 | [2] | 29,318 | [2] | ||||
| Comprehensive income attributable to American Assets Trust, Inc. | 41,012 | 19,166 | 28,971 | ||||||
| Interest Rate Swap | American Assets Trust, L.P. | |||||||||
| COMPREHENSIVE INCOME | |||||||||
| Other comprehensive (loss) gain - unrealized (loss) gain on swap derivative during the period | (5,571) | 120 | 386 | ||||||
| Swap | |||||||||
| COMPREHENSIVE INCOME | |||||||||
| Other comprehensive (loss) gain - unrealized (loss) gain on swap derivative during the period | (6,084) | 120 | (10,281) | ||||||
| Swap | American Assets Trust, L.P. | |||||||||
| COMPREHENSIVE INCOME | |||||||||
| Other comprehensive (loss) gain - unrealized (loss) gain on swap derivative during the period | (6,084) | $ 120 | (10,281) | ||||||
| Forward Contracts | |||||||||
| COMPREHENSIVE INCOME | |||||||||
| Other comprehensive (loss) gain - unrealized (loss) gain on swap derivative during the period | 513 | 10,667 | |||||||
| Forward Contracts | American Assets Trust, L.P. | |||||||||
| COMPREHENSIVE INCOME | |||||||||
| Other comprehensive (loss) gain - unrealized (loss) gain on swap derivative during the period | $ 513 | $ 10,667 | |||||||
| |||||||||
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Other operating costs incurred during the reporting period and may include amounts paid to maintain the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Cash dividends declared or paid to each outstanding limited partnership and general partnership unit during the reporting period. No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
| X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The total amount of other operating income, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition A tax based on the assessed value of real estate by the local government. The tax is usually based on the value of property (including the land). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Consolidated Statements of Equity - USD ($) $ in Thousands |
Total |
American Assets Trust, L.P. |
Limited Partner
American Assets Trust, L.P.
|
General Partner
American Assets Trust, L.P.
|
Accumulated Other Comprehensive Income (Loss)
American Assets Trust, L.P.
|
Swap |
Swap
American Assets Trust, L.P.
|
Swap
Accumulated Other Comprehensive Income (Loss)
American Assets Trust, L.P.
|
Forward Contracts |
Forward Contracts
American Assets Trust, L.P.
|
Forward Contracts
Accumulated Other Comprehensive Income (Loss)
American Assets Trust, L.P.
|
Common Stock |
Common Stock
American Assets Trust, L.P.
|
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)
Forward Contracts
|
Noncontrolling Interests - Unitholders in the Operating Partnership |
Noncontrolling Interests - Unitholders in the Operating Partnership
Swap
|
Noncontrolling Interests - Unitholders in the Operating Partnership
Forward Contracts
|
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Beginning balance (in shares) at Dec. 31, 2016 | 45,732,109 | ||||||||||||||||||||||||||
| Beginning balance at Dec. 31, 2016 | $ 838,551 | $ 457 | $ 874,597 | $ (77,296) | $ 11,798 | $ 28,995 | |||||||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||
| Net income | 40,132 | $ 40,132 | $ 10,814 | [1] | $ 29,318 | [2] | 29,318 | 10,814 | |||||||||||||||||||
| Common shares issued (in shares) | 700,000 | ||||||||||||||||||||||||||
| Common shares issued | 29,873 | $ 7 | 29,866 | ||||||||||||||||||||||||
| Issuance of restricted stock (in shares) | 150,098 | ||||||||||||||||||||||||||
| Issuance of restricted stock | 0 | $ 2 | (2) | ||||||||||||||||||||||||
| Forfeiture of restricted stock (in shares) | (48,624) | ||||||||||||||||||||||||||
| Forfeiture of restricted stock | 0 | $ 0 | 0 | ||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | 693,842 | 693,842 | |||||||||||||||||||||||||
| Conversion of operating partnership units | 0 | $ 7 | 10,752 | (10,759) | |||||||||||||||||||||||
| Dividends declared and paid | (67,537) | (49,302) | |||||||||||||||||||||||||
| Dividends declared and paid (noncontrolling interest) | 18,235 | ||||||||||||||||||||||||||
| Stock-based compensation | 4,735 | 4,735 | |||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (22,837) | [2] | (22,837) | ||||||||||||||||||||||||
| Shares withheld for employee taxes | (882) | (882) | $ (882) | [2] | $ 0 | (882) | |||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | 386 | $ (10,281) | $ (10,281) | $ (10,281) | $ 10,667 | $ 10,667 | $ 10,667 | $ (7,310) | $ 7,775 | $ (2,971) | $ 2,892 | ||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | 1,114 | 1,114 | $ 1,114 | 812 | 302 | ||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2017 | 47,204,588 | ||||||||||||||||||||||||||
| Ending balance at Dec. 31, 2017 | 844,144 | $ 473 | 919,066 | (97,280) | 11,451 | 10,434 | |||||||||||||||||||||
| Beginning balance (in shares) at Dec. 31, 2016 | 17,888,822 | [1] | 45,732,109 | [2] | |||||||||||||||||||||||
| Beginning balance at Dec. 31, 2016 | 838,551 | $ 24,315 | [1] | $ 797,758 | [2] | 16,478 | |||||||||||||||||||||
| Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||||||||||||||||||||
| Net income | 40,132 | 40,132 | $ 10,814 | [1] | $ 29,318 | [2] | 29,318 | 10,814 | |||||||||||||||||||
| Contributions from American Assets Trust, Inc. (in shares) | [2] | 700,000 | |||||||||||||||||||||||||
| Contributions from American Assets Trust, Inc. | 29,873 | $ 29,873 | [2] | ||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | (693,842) | [1] | 693,842 | [2] | |||||||||||||||||||||||
| Conversion of operating partnership units | $ (10,759) | [1] | $ 10,759 | [2] | |||||||||||||||||||||||
| Issuance of restricted units (in shares) | [2] | 150,098 | |||||||||||||||||||||||||
| Forfeiture of restricted units (in shares) | [2] | (48,624) | |||||||||||||||||||||||||
| Distributions | (67,537) | $ (18,235) | [1] | $ (49,302) | [2] | ||||||||||||||||||||||
| Stock-based compensation | 4,735 | $ 4,735 | [2] | ||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (22,837) | [2] | (22,837) | ||||||||||||||||||||||||
| Units withheld for employee taxes | (882) | (882) | $ (882) | [2] | $ 0 | (882) | |||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | 386 | (10,281) | (10,281) | (10,281) | 10,667 | 10,667 | 10,667 | (7,310) | 7,775 | (2,971) | 2,892 | ||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | 1,114 | 1,114 | 1,114 | 812 | 302 | ||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2017 | 17,194,980 | [1] | 47,204,588 | [2] | |||||||||||||||||||||||
| Ending balance at Dec. 31, 2017 | 844,144 | $ 6,135 | [1] | $ 822,259 | [2] | 15,750 | |||||||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||
| Net income | 27,202 | 27,202 | 7,205 | [1] | $ 19,997 | [2] | 19,997 | 7,205 | |||||||||||||||||||
| Common shares issued (in shares) | 0 | ||||||||||||||||||||||||||
| Common shares issued | 0 | $ 0 | 0 | ||||||||||||||||||||||||
| Issuance of restricted stock (in shares) | 205,110 | ||||||||||||||||||||||||||
| Issuance of restricted stock | 0 | $ 2 | (2) | ||||||||||||||||||||||||
| Forfeiture of restricted stock (in shares) | (78,975) | ||||||||||||||||||||||||||
| Forfeiture of restricted stock | 0 | $ (1) | 1 | ||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | 17,372 | 17,372 | |||||||||||||||||||||||||
| Conversion of operating partnership units | 0 | $ 0 | (916) | 916 | |||||||||||||||||||||||
| Dividends declared and paid | (70,228) | (51,495) | |||||||||||||||||||||||||
| Dividends declared and paid (noncontrolling interest) | 18,733 | ||||||||||||||||||||||||||
| Stock-based compensation | 3,039 | 3,039 | |||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (12,686) | [2] | (12,686) | ||||||||||||||||||||||||
| Shares withheld for employee taxes | (527) | (527) | $ (527) | [2] | $ 0 | (527) | |||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | 120 | 120 | 120 | 120 | 105 | 15 | |||||||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | 1,279 | 1,279 | 1,279 | 936 | 343 | ||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2018 | 47,335,409 | ||||||||||||||||||||||||||
| Ending balance at Dec. 31, 2018 | 802,471 | $ 474 | 920,661 | (128,778) | 10,620 | (506) | |||||||||||||||||||||
| Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||||||||||||||||||||
| Net income | 27,202 | 27,202 | $ 7,205 | [1] | $ 19,997 | [2] | 19,997 | 7,205 | |||||||||||||||||||
| Conversion of operating partnership units (in shares) | (17,372) | [1] | 17,372 | [2] | |||||||||||||||||||||||
| Conversion of operating partnership units | $ 916 | [1] | $ (916) | [2] | |||||||||||||||||||||||
| Issuance of restricted units (in shares) | [2] | 205,110 | |||||||||||||||||||||||||
| Forfeiture of restricted units (in shares) | [2] | (78,975) | |||||||||||||||||||||||||
| Distributions | (70,228) | $ (18,733) | [1] | $ (51,495) | [2] | ||||||||||||||||||||||
| Stock-based compensation | 3,039 | $ 3,039 | [2] | ||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (12,686) | [2] | (12,686) | ||||||||||||||||||||||||
| Units withheld for employee taxes | (527) | (527) | $ (527) | [2] | $ 0 | (527) | |||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | 120 | 120 | 120 | 120 | 105 | 15 | |||||||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | 1,279 | 1,279 | 1,279 | 936 | 343 | ||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2018 | 17,177,608 | [1] | 47,335,409 | [2] | |||||||||||||||||||||||
| Ending balance at Dec. 31, 2018 | 802,471 | $ (4,477) | [1] | $ 792,357 | [2] | 14,591 | |||||||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||||||||||||||
| Net income | 60,188 | 60,188 | 14,089 | $ 46,099 | 46,099 | 14,089 | |||||||||||||||||||||
| Common shares issued (in shares) | 11,871,552 | ||||||||||||||||||||||||||
| Common shares issued | 515,354 | $ 118 | 515,236 | ||||||||||||||||||||||||
| Issuance of restricted stock (in shares) | 173,008 | ||||||||||||||||||||||||||
| Issuance of restricted stock | 0 | $ 2 | (2) | ||||||||||||||||||||||||
| Forfeiture of restricted stock (in shares) | (70,641) | ||||||||||||||||||||||||||
| Forfeiture of restricted stock | 0 | $ (1) | 1 | ||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | 787,060 | 787,060 | |||||||||||||||||||||||||
| Conversion of operating partnership units | 0 | $ 8 | 12,979 | 148 | (13,135) | ||||||||||||||||||||||
| Dividends declared and paid | (80,605) | (61,699) | |||||||||||||||||||||||||
| Dividends declared and paid (noncontrolling interest) | 18,906 | ||||||||||||||||||||||||||
| Stock-based compensation | 4,477 | 4,477 | |||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (28,160) | (28,160) | |||||||||||||||||||||||||
| Shares withheld for employee taxes | (1,338) | (1,338) | $ (1,338) | $ 0 | (1,338) | ||||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | (5,571) | (6,084) | (6,084) | (6,084) | 513 | 513 | 513 | (4,482) | 392 | (1,602) | 121 | ||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | 1,304 | 1,304 | 1,304 | 998 | 306 | ||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2019 | 60,068,228 | ||||||||||||||||||||||||||
| Ending balance at Dec. 31, 2019 | 1,293,672 | $ 601 | 1,452,014 | (144,378) | 5,680 | (20,245) | |||||||||||||||||||||
| Increase (Decrease) in Partners' Capital [Roll Forward] | |||||||||||||||||||||||||||
| Net income | 60,188 | 60,188 | $ 14,089 | $ 46,099 | $ 46,099 | 14,089 | |||||||||||||||||||||
| Contributions from American Assets Trust, Inc. (in shares) | 11,871,552 | ||||||||||||||||||||||||||
| Contributions from American Assets Trust, Inc. | 515,354 | $ 515,354 | |||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | (787,060) | 787,060 | |||||||||||||||||||||||||
| Conversion of operating partnership units | $ (12,987) | $ 12,987 | |||||||||||||||||||||||||
| Issuance of restricted units (in shares) | 173,008 | ||||||||||||||||||||||||||
| Forfeiture of restricted units (in shares) | (70,641) | ||||||||||||||||||||||||||
| Distributions | (80,605) | $ (18,906) | $ (61,699) | ||||||||||||||||||||||||
| Stock-based compensation | 4,477 | $ 4,477 | |||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (28,160) | (28,160) | |||||||||||||||||||||||||
| Units withheld for employee taxes | (1,338) | (1,338) | $ (1,338) | $ 0 | $ (1,338) | ||||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | (5,571) | $ (6,084) | $ (6,084) | $ (6,084) | $ 513 | $ 513 | $ 513 | $ (4,482) | $ 392 | $ (1,602) | $ 121 | ||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | $ 1,304 | 1,304 | 1,304 | $ 998 | $ 306 | ||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2019 | 16,390,548 | [1] | 60,068,228 | [2] | |||||||||||||||||||||||
| Ending balance at Dec. 31, 2019 | $ 1,293,672 | $ (22,281) | [1] | $ 1,308,237 | [2] | $ 7,716 | |||||||||||||||||||||
| |||||||||||||||||||||||||||
| X | ||||||||||
- Definition Partners' Capital Account, Restricted Units Forfeiture No definition available.
|
| X | ||||||||||
- Definition Partners' Capital Account, Restricted Units Issued No definition available.
|
| X | ||||||||||
- Definition Amount of decrease to equity for grantee's tax withholding obligation for award under share-based payment arrangement. No definition available.
|
| X | ||||||||||
- Definition Amount of increase to additional paid-in capital (APIC) for recognition of cost for award under share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total distributions to each class of partners (i.e., general, limited and preferred partners). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total change in each class of partners' capital accounts during the year due to exchanges and conversions. Partners include general, limited and preferred partners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in partners' capital account for unit-based payment arrangement issued by partnership. Partner includes, but is not limited to, general, limited and preferred partners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The number of each class of partnership units outstanding at the balance sheet date. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Units contributed by each class of partners during the year. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The number of units converted into shares of each class of partners' capital account. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Number of shares issued which are neither cancelled nor held in the treasury. No definition available.
|
| X | ||||||||||
- Definition Number of shares used to settle grantee's tax withholding obligation for award under share-based payment arrangement. No definition available.
|
| X | ||||||||||
- Definition The number of shares issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Number of shares related to Restricted Stock Award forfeited during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Value of stock issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Value of stock related to Restricted Stock Awards forfeited during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Aggregate value of stock related to Restricted Stock Awards issued during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| OPERATING ACTIVITIES | |||
| Net income | $ 60,188 | $ 27,202 | $ 40,132 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Deferred rent revenue and amortization of lease intangibles | (6,985) | (1,157) | (2,547) |
| Depreciation and amortization | 96,205 | 107,093 | 83,278 |
| Amortization of debt issuance costs and debt fair value adjustments | 1,467 | 1,530 | 3,058 |
| Gain on sale of real estate | 633 | 0 | 0 |
| Stock-based compensation expense | 4,477 | 3,039 | 4,735 |
| Settlement of forward interest rate swap agreement | 513 | 0 | 10,667 |
| Lease termination income | (4,518) | 0 | 0 |
| Other noncash interest expense | (1,304) | (1,279) | (1,114) |
| Other, net | 6,497 | 383 | 901 |
| Changes in operating assets and liabilities | |||
| Change in accounts receivable | (1,071) | (336) | (1,116) |
| Change in other assets | (2,420) | (227) | (499) |
| Change in accounts payable and accrued expenses | 5,956 | (3,297) | 7,632 |
| Change in security deposits payable | (971) | 2,274 | 456 |
| Change in other liabilities and deferred credits | (3,585) | 1,282 | 270 |
| Net cash provided by operating activities | 153,816 | 136,507 | 145,853 |
| INVESTING ACTIVITIES | |||
| Acquisition of real estate, net | 507,780 | 0 | 278,141 |
| Capital expenditures | (88,327) | (54,411) | (47,496) |
| Proceeds from sale of real estate, net of selling costs | 8,191 | 0 | 0 |
| Leasing commissions | (11,267) | (9,936) | (4,927) |
| Net cash used in investing activities | (599,183) | (64,347) | (330,564) |
| FINANCING ACTIVITIES | |||
| Repayment of secured notes payable | (20,762) | (97,124) | (167,139) |
| Proceeds from unsecured line of credit | 59,000 | 84,000 | 173,000 |
| Repayment of unsecured line of credit | 123,000 | 20,000 | 193,000 |
| Proceeds from issuance of unsecured notes payable | 150,000 | 0 | 450,000 |
| Debt issuance costs | (1,103) | (2,727) | (2,401) |
| Proceeds from issuance of common stock, net | 515,354 | (236) | 29,873 |
| Dividends paid to common stock and unitholders | (80,605) | (70,228) | (67,537) |
| Shares withheld for employee taxes | (1,338) | (527) | (882) |
| Net cash provided by (used in) financing activities | 497,546 | (106,842) | 221,914 |
| Net (decrease) increase in cash and cash equivalents | 52,179 | (34,682) | 37,203 |
| Cash, cash equivalents and restricted cash, beginning of year | 57,272 | 91,954 | 54,751 |
| Cash, cash equivalents and restricted cash, end of year | 109,451 | 57,272 | 91,954 |
| Cash and cash equivalents | 99,303 | 47,956 | 82,610 |
| Restricted cash | 10,148 | 9,316 | 9,344 |
| American Assets Trust, L.P. | |||
| OPERATING ACTIVITIES | |||
| Net income | 60,188 | 27,202 | 40,132 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Deferred rent revenue and amortization of lease intangibles | (6,985) | (1,157) | (2,547) |
| Depreciation and amortization | 96,205 | 107,093 | 83,278 |
| Amortization of debt issuance costs and debt fair value adjustments | 1,467 | 1,530 | 3,058 |
| Gain on sale of real estate | 633 | 0 | 0 |
| Stock-based compensation expense | 4,477 | 3,039 | 4,735 |
| Settlement of forward interest rate swap agreement | 513 | 0 | 10,667 |
| Lease termination income | (4,518) | 0 | 0 |
| Other noncash interest expense | (1,304) | (1,279) | (1,114) |
| Other, net | 6,497 | 383 | 901 |
| Changes in operating assets and liabilities | |||
| Change in accounts receivable | (1,071) | (336) | (1,116) |
| Change in other assets | (2,420) | (227) | (499) |
| Change in accounts payable and accrued expenses | 5,956 | (3,297) | 7,632 |
| Change in security deposits payable | (971) | 2,274 | 456 |
| Change in other liabilities and deferred credits | (3,585) | 1,282 | 270 |
| Net cash provided by operating activities | 153,816 | 136,507 | 145,853 |
| INVESTING ACTIVITIES | |||
| Acquisition of real estate, net | 507,780 | 0 | 278,141 |
| Capital expenditures | (88,327) | (54,411) | (47,496) |
| Proceeds from sale of real estate, net of selling costs | 8,191 | 0 | 0 |
| Leasing commissions | (11,267) | (9,936) | (4,927) |
| Net cash used in investing activities | (599,183) | (64,347) | (330,564) |
| FINANCING ACTIVITIES | |||
| Repayment of secured notes payable | (20,762) | (97,124) | (167,139) |
| Proceeds from unsecured line of credit | 59,000 | 84,000 | 173,000 |
| Repayment of unsecured line of credit | 123,000 | 20,000 | 193,000 |
| Proceeds from issuance of unsecured notes payable | 150,000 | 0 | 450,000 |
| Debt issuance costs | (1,103) | (2,727) | (2,401) |
| Contributions from American Assets Trust, Inc. | 515,354 | (236) | 29,873 |
| Dividends paid to common stock and unitholders | (80,605) | (70,228) | (67,537) |
| Shares withheld for employee taxes | (1,338) | (527) | (882) |
| Net cash provided by (used in) financing activities | 497,546 | (106,842) | 221,914 |
| Net (decrease) increase in cash and cash equivalents | 52,179 | (34,682) | 37,203 |
| Cash, cash equivalents and restricted cash, beginning of year | 57,272 | 91,954 | 54,751 |
| Cash, cash equivalents and restricted cash, end of year | 109,451 | 57,272 | 91,954 |
| Cash and cash equivalents | 99,303 | 47,956 | 82,610 |
| Restricted cash | $ 10,148 | $ 9,316 | $ 9,344 |
| X | ||||||||||
- Definition The component of interest expense representing the noncash expenses charged against earnings in the period to amortize debt issuance costs and debt fair value adjustments. No definition available.
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount due that is the result of the cumulative difference between actual rent due and rental income recognized on a straight-line basis. Also includes the amortization of lease intangibles. No definition available.
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| X | ||||||||||
- Definition Increase (Decrease) in Security Deposits Payable No definition available.
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| X | ||||||||||
- Definition Other Non-cash Interest Expense No definition available.
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| X | ||||||||||
- Definition Gain (loss) on settlement of forward swap contract included in accumulated other comprehensive income to be amortized as interest expense over the life of related debt instrument. No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in cash, cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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| X | ||||||||||
- Definition Amount of gain (loss) on termination of lease before expiration of lease term. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The increase (decrease) in the balance of capitalized lease acquisition costs during the period. The cost usually covers a variety of administrative costs, such as the cost of obtaining a credit report, verifying insurance coverage, lease commission charges, checking the accuracy and completeness of the lease documentation, and entering the lease in data processing and accounting systems. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of increase (decrease) in deferred obligations classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of increase (decrease) in operating assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of income (expense) included in net income that results in no cash inflow (outflow), classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow for acquisition of or capital improvements to properties held for investment (operating, managed, leased) or for use. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash outflow to satisfy grantee's tax withholding obligation for award under share-based payment arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The cash outflow from the acquisition of a piece of land, anything permanently fixed to it, including buildings, structures on it and so forth; includes real estate intended to generate income for the owner; excludes real estate acquired for use by the owner. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash inflow from the capital received in cash from a partner in a partnership during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Cash received from the sale of real estate that is held for investment, that is, it is part of an investing activity during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is uncollateralized (where debt is not backed by the pledge of collateral). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of cash and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of noncash expense for share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Details
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Real Estate (Notes) |
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Dec. 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| REAL ESTATE | REAL ESTATE A summary of our real estate investments is as follows (in thousands):
(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. Dispositions On May 22, 2019, we sold Solana Beach – Highway 101. The property is located in Solana Beach, California and was previously included in our retail segment. The sales price of this property was approximately $9.4 million, less costs to sell, and resulted in net proceeds to us of approximately $9.4 million. Accordingly, we recorded a gain on sale of approximately $0.6 million and nil for the years ended December 31, 2019 and 2018, respectively. Property Asset Acquisitions On April 28, 2017, we acquired the Pacific Ridge Apartments, a 533-unit luxury apartment community located in San Diego, California. The purchase price was approximately $232 million, excluding closing costs of approximately $0.1 million. On July 6, 2017, we acquired Gateway Marketplace, an approximately 128,000 square feet dual-grocery anchored shopping center located in Chula Vista, California. The purchase price was approximately $42 million, excluding closing costs of approximately $0.1 million. On June 20, 2019, we acquired La Jolla Commons, consisting of two office towers totaling approximately 724,000 square feet, an entitled development parcel and two parking structures, located in San Diego, California. The acquisition was classified as an asset acquisition with a purchase price of approximately $525 million, less seller credits of (i) approximately $11.5 million for speculative lease-up, (ii) approximately $4.2 million for assumed contractual liabilities (iii) and approximately $1.7 million for closing prorations, excluding closing costs of approximately $0.2 million. The property was acquired with proceeds from an underwritten public offering and borrowings under the company's Second Amended and Restated Credit Facility (defined herein). The financial information set forth below summarizes the company’s purchase price allocations for La Jolla Commons during the year ended December 31, 2019 (in thousands):
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, 2019, is 8.2 years. The following table summarizes the operating results for the La Jolla Commons included in the company’s historical consolidated statement of comprehensive income and in the office segment for the period of acquisition through December 31, 2019 (in thousands):
Pro Forma Financial Information (Unaudited) The pro forma financial information set forth below is based upon the company’s historical consolidated statements of operations for the year ended December 31, 2019 and 2018, adjusted to give effect to the acquisition of La Jolla Commons, described above, as if such transaction had been completed on January 1, 2018. The pro forma financial information includes adjustments to depreciation expense for acquired property and equipment and adjustments to amortization charges for acquired intangible assets and liabilities. The pro forma financial information set forth below is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2018, nor does it purport to represent the results of future operations (in thousands).
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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Summary of Significant Accounting Policies (Notes) |
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| 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 206 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, 2019, we owned or had a controlling interest in 28 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as of December 31, 2019, 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:
Basis of Presentation Our consolidated financial statements include the accounts of the company, our Operating Partnership and our subsidiaries. The equity interests of other investors in our Operating Partnership are reflected as noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. Certain reclassifications have been made to conform to current period presentation. 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):
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 $3.5 million, $3.6 million and $3.7 million for the years ended December 31, 2019, 2018 and 2017, 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 income. Revenue from other sales and services provided is included in other property income on the statement of 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 conditions, 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. If our assessment of these factors indicates it is probable that we will be unable 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, 2019 and December 31, 2018, our allowance for doubtful accounts was $1.2 million and $0.6 million, respectively. Our allowance for deferred rent receivables at December 31, 2019 and December 31, 2018 was $0.5 million and $0.3 million, respectively. Total bad debt expense was $1.8 million, $0.8 million and $0.8 million for the years ended December 31, 2019, 2018 and 2017, respectively. Total bad debt expense for the year ended December 31, 2019 was included as a reduction to rental income on the statement of income while the total bad debt expense for the years ended December 31, 2018 and 2017 were included in rental income on the statement of income. Effective January 1, 2018, (upon the adoption of ASU 2014-09, Revenue from Contracts with Customers) sales of real estate are recognized generally upon the transfer of control, which usually occurs when the real estate is legally sold. Prior to January 1, 2018, sales of real estate were recognized only when sufficient down payments had been obtained, possession and other attributes of ownership had been transferred to the buyer and we had no significant continuing involvement. The application of these criteria can be complex and required us to make assumptions. We believe the relevant criteria were met for all real estate sold during the periods presented. 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, 2019, 2018 and 2017, real estate depreciation expense was $85.3 million, $99.6 million and $70.2 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 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 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. There were no impairment charges during the years ended December 31, 2019, 2018 and 2017. 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 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, 2019 and December 31, 2018, we had $36.2 million and $42.4 million, respectively, in excess of the FDIC insured limit. At December 31, 2019 and December 31, 2018, we had $52.5 million and $0.2 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. At December 31, 2019 and 2018, we had $10.1 million and $9.3 million, respectively, in 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 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, 2019 and December 31, 2018 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. 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. 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 option measured immediately before its terms are modified. For the year ended December 31, 2017, we incurred incremental compensation cost of approximately $2.2 million related to the discretionary vesting of previously granted restricted stock awards that did not meet the original vesting criteria. For the years ended December 31, 2019 and 2018, there were no modifications of stock-based compensation awards. 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 ending 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 that we derive from our REIT qualifying activities. 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 retail real estate, office real estate, multifamily real estate and mixed-use real estate. The products for our retail segment primarily include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our multifamily segment include rental of apartments and other tenant services. The products of our mixed-use segment include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental and operation of a 369-room all-suite hotel. Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which provides the principles for the recognition, measurement, presentation and disclosure of leases. This ASU significantly changes the accounting for leases by requiring lessees to recognize assets and liabilities for leases greater than 12 months on their balance sheet. The lessor model stays substantially the same; however, there were modifications to conform lessor accounting with the lessee model, eliminate real estate specific guidance, further define certain lease and non-lease components, and change the definition of initial direct costs of leases. We adopted the provisions of ASU No. 2016-02 effective January 1, 2019 using the modified retrospective approach. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which allows lessors to elect a practical expedient by class of underlying assets to not separate non-lease components from the lease component if certain conditions are met. The lessor’s practical expedient election would be limited to circumstances in which the non-lease components otherwise would be accounted for under the new revenue guidance and both (i) the timing and pattern of transfer are the same for the non-lease component and the related lease component and (ii) the lease component would be classified as an operating lease. The company elected the practical expedient, which allows the company the ability to combine the lease and non-lease components if the underlying asset meets the criteria above. Due to our election of the practical expedient approach, for the year ended December 31, 2019, approximately $38.4 million of non-lease components are combined with lease rental income. ASU 2018-11 also includes an optional transition method in addition to the existing requirements for transition to the new standard by recognizing a cumulative effect adjustment to the opening balance sheet of retained earnings in the period of adoption. Consequently, a company’s reporting for the comparative periods presented in the financial statements would continue to be in accordance with previous GAAP (Topic 840). The company elected this practical expedient as well. Further, bad debt expense, which has previously been recorded in rental expenses, has now been classified as a contra-revenue account in rental income in the company’s consolidated statements of comprehensive income beginning in the year ended December 31, 2019. We evaluated all leases within this scope under existing accounting standards and under the new ASU lease standard recognized approximately $7.7 million of right-of-use assets and lease liabilities for the year ended December 31, 2019. Effective January 1, 2019, approximately $0.8 million of deferred rent expense was reclassified to lease liability within the other liabilities and deferred credits, net. As of December 31, 2019, the remaining contractual payments under lease agreements for which the company is the lessee aggregated approximately $5.6 million. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The pronouncement was issued to clarify the principles for recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and International Financial Reporting Standards. The pronouncement is effective for reporting periods beginning after December 15, 2017. We adopted the provisions of the ASU effective January 1, 2018 using the modified retrospective approach. As discussed above, lease are specifically excluded from this and will be governed by the applicable lease codification. We evaluated the revenue recognition for all contracts within this scope under existing accounting standards and under the new revenue recognition ASU and confirmed that there were no differences in the amounts recognized or the pattern of recognition. This evaluation included revenues from the hotel portion of our mixed-use property, parking income and excise taxes charged to customers. Therefore, the adoption of this ASU did not result in an adjustment to the company’s retained earnings on January 1, 2018. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Topics. The pronouncement requires companies to adopt a new approach to estimating credit losses on certain types of financial instruments, such as trade and other receivables and loans. The standard requires entities to estimate a lifetime expected credit loss for most financial instruments, including trade receivables. The pronouncement is effective for fiscal years and for interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, which clarifies that receivables arising from operating leases are not within the scope of the pronouncement. We evaluated the impact this pronouncement will have on our consolidated financial statements and do not believe that the pronouncement will have a material impact on our consolidated financial statements as the majority of our receivables are derived from operating leases and are excluded from this standard.
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- Definition The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| 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):
The value allocated to in-place leases is amortized over the related lease term as depreciation and amortization expense in the statement of 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 income. Rental income (loss) includes net amortization from acquired above and below market leases of $3.8 million, $3.6 million and $3.3 million in 2019, 2018 and 2017, respectively. The remaining weighted-average amortization period as of December 31, 2019, is 8.5 years, 4.6 years and 11.0 years for in-place leases, above market leases and below market leases, respectively. Below market leases include $12.3 million related to below market renewal options, and the weighted-average period prior to the commencement of the renewal options is 8.9 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):
As of December 31, 2019, the amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows (in thousands):
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- Definition The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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Fair Value of Financial Instruments (Notes) |
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| 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:
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. Except as disclosed below, the carrying amount of our financial instruments approximates their fair value. Financial assets and liabilities whose fair values we measure on a recurring basis using Level 2 inputs consist of our deferred compensation liability and interest rate swap liability. We measure the fair values of these liabilities based on prices provided by independent market participants that are based on observable inputs using market-based valuation techniques provided by third parties using proprietary valuation models and analytical tools as of December 31, 2019 and 2018. These valuation models and analytical tools use market pricing or similar instruments that are both objective and publicly available, including matrix pricing or reported trades, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids and/or offers. 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):
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 2.9% to 4.1%. 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 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):
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- References No definition available.
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Other Assets (Notes) |
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| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER ASSETS | OTHER ASSETS Other assets consist of the following (in thousands):
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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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Other Liabilities and Deferred Credits (Notes) |
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| 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):
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.
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- References No definition available.
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- Definition The entire disclosure for other liabilities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Debt (Notes) |
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| 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 Second Amended and Restated Credit Facility, term loan and carve-out guarantees on property-level debt. 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, 2019 and December 31, 2018 (in thousands):
Certain loans require us to comply with various financial covenants, including the maintenance of minimum debt coverage ratios. As of December 31, 2019, 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, 2019 and December 31, 2018 (in thousands):
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 seven years $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 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 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 (as defined in the Note Purchase Agreement). 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, 2019, the Operating Partnership was in compliance with all loan covenants. Scheduled principal payments on secured and unsecured notes payable as of December 31, 2019 are as follows (in thousands):
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 (the "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. The Term Loan initially matured on January 9, 2016, subject to our option to extend the 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. Additionally, the Prior Credit Facility included a number of financial covenants, including:
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 provides 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 has an accordion feature that may allow us to increase the availability thereunder up to an additional $250 million, subject to meeting specified requirements and obtaining additional commitments from lenders. At December 31, 2019, there was no outstanding balance under the Revolver Loan and we had incurred approximately $1.3 million of debt issuance costs, net, which are recorded in other assets, net on the consolidated balance sheet. Borrowings under the Second Amended and Restated Credit Facility initially bear interest at floating rates equal to, at our option, either (1) LIBOR, plus a spread which ranges from (a) 1.05% 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 are more favorable than previously contained in the Prior Credit Facility in place as of December 31, 2017. For the year-ended December 31, 2019, the weighted average interest rate on the Revolver Loan was 3.55%. The Revolver Loan initially matures 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. 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 are 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. Additionally, the Second Amended and Restated Credit Facility includes a number of customary financial covenants, including:
The Second Amended and Restated Credit Facility provides 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, 2019, the Operating Partnership was in compliance with all then in-place Second Amended and Restated Credit Facility covenants.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Derivative and Hedging (Notes) |
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| 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 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 3.08% through its maturity date and extension options, 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. 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. The following is a summary of the terms of the interest rate swaps as of December 31, 2019 (dollars in thousands):
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 $1.3 million will be reclassified as a decrease to interest expense. |
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Partners Capital of American Assets Trust, L.P. (Notes) |
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Dec. 31, 2019 | |
| Equity [Abstract] | |
| PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P. | PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P. As of December 31, 2019, the Operating Partnership had 16,390,548 common units (the “Noncontrolling Common Units”) outstanding. American Assets Trust, Inc. owned 78.5% of the Operating Partnership at December 31, 2019. The remaining 21.5% 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. During the years ended December 31, 2019, 2018 and 2017, approximately 787,060, 17,372 and 693,842, respectively, common units were converted into shares of the company's common stock.
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- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Equity of American Assets Trust, Inc. (Notes) |
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| EQUITY OF AMERICAN ASSETS TRUST, INC. | EQUITY OF AMERICAN ASSETS TRUST, INC. Stockholders' Equity On May 6, 2013, we entered into an at-the-market (“ATM”) equity program with four sales agents pursuant to which we may, from time to time, offer and sell shares of our common stock having an aggregate offering price of up to $150.0 million. We completed $150.0 million of issuances under such ATM program on May 21, 2015. On May 27, 2015, 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 $250.0 million. The sales of shares of our common stock made through the ATM equity program are made in "at-the-market" offerings as defined in Rule 415 of the Securities Act of 1933, as amended. For the year ended December 31, 2019, we issued 946,552 shares of common stock through the ATM equity program at a weighted average price per share of $46.04 for gross proceeds of $43.6 million and paid $0.4 million in sales agent compensation and $0.5 million in additional offering expenses related to the sales of these shares of common stock. 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, 2019, we had the capacity to issue up to an additional $132.6 million in shares of our common stock under our ATM equity program. Actual future sales will depend on a variety of factors including, but not limited to, market conditions, the trading price of our common stock and our capital needs. We have no obligation to sell the remaining shares available for sale under the active ATM equity program. In June 2019, we issued and sold 10,925,000 shares of common stock in an underwritten public offering. The shares of common stock that we issued and sold included the full exercise of the underwriters' option to purchase 1,425,000 additional shares. We received net proceeds of approximately $472.6 million, after deducting underwriting discounts, commissions and offering expenses. 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, 2019. 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, 2019, 2018 and 2017:
Taxability of Dividends Earnings and profits, which determine the taxability of distributions to stockholders and holders of common units, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of 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:
Stock-Based Compensation The company has established the 2011 Equity Incentive Award Plan (the "2011 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. An aggregate of 4,054,411 shares of our common stock are authorized for issuance under awards granted pursuant to the 2011 Plan, and as of December 31, 2019, 2,422,181 shares of common stock remain available for future issuance. The following shares of restricted common stock have been issued as of December 31, 2019:
For the performance-based stock awards, 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 year look-back period. The expected growth rate of the stock prices over the “derived service period” of the employee is determined with consideration of the risk free rate as of the grant date. For the restricted stock grants that are time-vesting, 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, 2019:
We recognize noncash compensation expense ratably over the vesting period, and accordingly, we recognized $4.5 million, $3.0 million and $4.7 million in noncash compensation expense for the years ended December 31, 2019, 2018 and 2017, respectively, each of which is included in general and administrative expense on the statement of income. Unrecognized compensation expense was $7.1 million at December 31, 2019, which will be recognized over a weighted-average period of 1.6 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, 2019, 2018 and 2017, we had a weighted average of approximately 330,197 shares, 271,905 shares and 230,602 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, 2019, 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, 2019, 2018 and 2017 does not include 330,197 units, 271,905 units, and 230,602 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):
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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Income Taxes (Notes) |
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| 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 ending December 31, 2011. As a REIT, we are generally not subject to corporate level income tax on the earnings distributed currently to our stockholders that we derive from our REIT qualifying activities. Taxable income from non-REIT activities managed through our TRS is subject to federal and state income taxes. We lease our hotel property to a wholly owned TRS that is subject to federal and state income taxes. We account for income taxes using the asset and liability method, under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between GAAP carrying amounts and their respective tax bases. Additionally, we classify certain state taxes as income taxes for financial reporting purposes in accordance with ASC Topic 740, Income Taxes. A deferred tax liability is included in our consolidated balance sheets of $0.3 million and $0.1 million as of December 31, 2019 and 2018, respectively, in relation to real estate asset basis differences and prepaid expenses for our TRS. The income tax provision included in other income (expense) on the consolidated statement of income is as follows (in thousands):
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Commitments and Contingencies (Notes) |
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| Commitments and Contingencies Disclosure [Abstract] | |
| COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Legal We are sometimes involved in various disputes, lawsuits, warranty claims, environmental and other matters arising in the ordinary course of business. Management makes assumptions and estimates concerning the likelihood and amount of any potential loss relating to these matters. We are currently a party to various legal proceedings. We accrue a liability for litigation if an unfavorable outcome is probable and the amount of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, we accrue the best estimate within the range; however, if no amount within the range is a better estimate than any other amount, the minimum within the range is accrued. Legal fees related to litigation are expensed as incurred. We do not believe that the ultimate outcome of these matters, either individually or in the aggregate, could have a material adverse effect on our financial position or overall trends in results of operations; however, litigation is subject to inherent uncertainties. Also, under our leases, tenants are typically obligated to indemnify us from and against all liabilities, costs and expenses imposed upon or asserted against us as owner of the properties due to certain matters relating to the operation of the properties by the tenant. Commitments 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. 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 $7.6 million based on operating performance through December 31, 2019. 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, 2019, 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, Hawaii, Oregon, Texas and Washington. The ability of the tenants to honor the terms of their respective leases is dependent upon the economic, regulatory and social factors affecting the markets in which the tenants operate. Fifteen of our consolidated properties, representing 37.6% of our total revenue for the year ended December 31, 2019, 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 17.3% of total revenues for the year ended December 31, 2019. Tenants in the retail industry accounted for 29.3% and 31.9% of total revenues for the years December 31, 2019 and 2018, 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 10.0% and 11.7% of total revenues for the years ended December 31, 2019 and 2018, respectively. Tenants in the office industry accounted for 39.5% and 34.0% of total revenues for the years December 31, 2019 and 2018, 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. For the years ended December 31, 2019 and 2018, no tenant accounted for more than 10.0% of our total rental revenue. At December 31, 2019, LPL Holdings, Inc. at La Jolla Commons accounted for 7.5% of total annualized base rent. Three other tenants (Google LLC, Autodesk, Inc., and Lowe's) comprise 13.9% of our total annualized base rent at December 31, 2019, 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, 2019 for our office properties, retail properties and the retail portion of our mixed-use property.
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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LEASES |
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| 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, 2019, our retail, office and mixed-use properties are located in five states: California, Oregon, Hawaii, Washington and Texas. At December 31, 2019, we had approximately 861 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 approximately 1,849 leases with residential tenants at December 31, 2019, excluding Santa Fe Park RV Resort. As of December 31, 2019, 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):
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, 2021, which we have the option to extend until 2031 by way of two five years extension options (the "Annex Lease"). The lease payments under the extension options provided for under the Annex Lease will be equal to the fair rental value at the time the extension option is exercised. The extension options are not included in the calculation of the right-of-use asset or lease liability due to electing the practical expedient to not reassess the lease term of existing leases. At Waikiki Beach Walk, we lease a portion of the building of which Quiksilver is currently in possession, under an operating lease effective through December 31, 2021. 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, 2019 (in thousands):
Lease costs under the operating leases are as follows (in thousands):
Supplemental cash flow information and non-cash activity related to our operating leases are as follow (in thousands):
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. At Waikiki Beach Walk, we (as sublandlord) sublease a portion of the building to Quiksilver under an operating lease effective through December 31, 2021.
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| 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, 2019, our retail, office and mixed-use properties are located in five states: California, Oregon, Hawaii, Washington and Texas. At December 31, 2019, we had approximately 861 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 approximately 1,849 leases with residential tenants at December 31, 2019, excluding Santa Fe Park RV Resort. As of December 31, 2019, 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):
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, 2021, which we have the option to extend until 2031 by way of two five years extension options (the "Annex Lease"). The lease payments under the extension options provided for under the Annex Lease will be equal to the fair rental value at the time the extension option is exercised. The extension options are not included in the calculation of the right-of-use asset or lease liability due to electing the practical expedient to not reassess the lease term of existing leases. At Waikiki Beach Walk, we lease a portion of the building of which Quiksilver is currently in possession, under an operating lease effective through December 31, 2021. 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, 2019 (in thousands):
Lease costs under the operating leases are as follows (in thousands):
Supplemental cash flow information and non-cash activity related to our operating leases are as follow (in thousands):
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. At Waikiki Beach Walk, we (as sublandlord) sublease a portion of the building to Quiksilver under an operating lease effective through December 31, 2021.
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- References No definition available.
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The entire disclosure for lessor's operating leases. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Component of Rental Income and Expense (Notes) |
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| 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):
Minimum rents include $3.2 million, $2.4 million and $0.8 million for the years ended December 31, 2019, 2018 and 2017, respectively, to recognize minimum rents on a straight-line basis. In addition, minimum rents include $3.8 million, $3.6 million and $3.3 million for the years ended December 31, 2019, 2018 and 2017, respectively, to recognize the amortization of above and below market leases. The principal components of rental expenses are as follows (in thousands):
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- Definition The entire disclosure of the principle components of rental income and/or rental expense recognized for the period. No definition available.
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- References No definition available.
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Other Income (Expenses) (Notes) |
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| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER INCOME (EXPENSE) | OTHER INCOME (EXPENSE) The principal components of other income (expense), net are as follows (in thousands):
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- References No definition available.
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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Related Party Transactions (Notes) |
12 Months Ended |
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Dec. 31, 2019 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS At Torrey Reserve Campus, we previously leased space to ICW, an entity owned and controlled by Ernest Rady. Rental revenue recognized on the leases of $0.0 million, $0.1 million and $0.1 million for the years ended December 31, 2019, 2018 and 2017, respectively, is included in rental income. Additionally, on July 1, 2014, we entered into a workers' compensation insurance policy with ICW. The policy premium was approximately $0.4 million for the period July 1, 2014 through July 1, 2015. We renewed this policy with ICW on July 1, 2015 and the premium was approximately $0.2 million for the period July 1, 2015 through July 1, 2016. We renewed this policy with ICW on July 1, 2016 and the premium was approximately $0.2 million for the period July 1, 2016 through July 1, 2017. We renewed this policy with ICW on June 30, 2017 and the premium is approximately $0.2 million for the period July 1, 2017 through July 1, 2018. We did not renew this policy with ICW during the second quarter of 2018 and commencing July 1, 2018, we entered into a workers' compensation policy with an unaffiliated third-party insurer. 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. Rental revenue recognized on the leases of $0.2 million and $0.1 million for the years ended December 31, 2019 and 2018 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 Ernest Rady. Rent revenue recognized on the lease of $0.2 million and $0.1 million for the years ended December 31, 2019 and 2018 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 Ernest Rady. For the years ending December 31, 2019, 2018 and 2017, we incurred approximately $0.2 million, $0.1 million and $0.1 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, 2019, Mr. Rady and his affiliates owned approximately 12.6% of our outstanding common stock and 19.5% of our outstanding common units, which together represent an approximate 32% 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 $1.1 million, $1.1 million and $1.0 million were made for the years ended December 31, 2019, 2018 and 2017, respectively, and included in rental expenses on the statements of income.
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Segment Reporting (Notes) |
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| 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):
The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands):
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):
(2) Capital expenditures represent cash paid for capital expenditures during the year and includes leasing commissions paid.
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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Quarterly Financial Information (Unaudited) (Notes) |
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| 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 2019 and 2018 (in thousands, except per shares data):
The tables below reflect selected American Assets Trust, L.P. quarterly information for 2019 and 2018 (in thousands, except per shares data):
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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation (Notes) |
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| SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation |
(1) For Federal tax purposes, the aggregate tax basis is approximately $2.4 billion as of December 31, 2019.
(1) Other deductions for the years ended December 31, 2019, 2018 and 2017 represent the write-off of fully depreciated assets.
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| X | ||||||||||
- References No definition available.
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- Definition The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Summary of Significant Accounting Policies (Policies) |
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| 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 206 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, 2019, we owned or had a controlling interest in 28 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as of December 31, 2019, 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:
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| Basis of Presentation | Basis of Presentation Our consolidated financial statements include the accounts of the company, our Operating Partnership and our subsidiaries. The equity interests of other investors in our Operating Partnership are reflected as noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation.
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| Use of Estimates | 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.
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| 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):
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| 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 $3.5 million, $3.6 million and $3.7 million for the years ended December 31, 2019, 2018 and 2017, 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 income. Revenue from other sales and services provided is included in other property income on the statement of 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 conditions, 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. If our assessment of these factors indicates it is probable that we will be unable 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, 2019 and December 31, 2018, our allowance for doubtful accounts was $1.2 million and $0.6 million, respectively. Our allowance for deferred rent receivables at December 31, 2019 and December 31, 2018 was $0.5 million and $0.3 million, respectively. Total bad debt expense was $1.8 million, $0.8 million and $0.8 million for the years ended December 31, 2019, 2018 and 2017, respectively. Total bad debt expense for the year ended December 31, 2019 was included as a reduction to rental income on the statement of income while the total bad debt expense for the years ended December 31, 2018 and 2017 were included in rental income on the statement of income. Effective January 1, 2018, (upon the adoption of ASU 2014-09, Revenue from Contracts with Customers) sales of real estate are recognized generally upon the transfer of control, which usually occurs when the real estate is legally sold. Prior to January 1, 2018, sales of real estate were recognized only when sufficient down payments had been obtained, possession and other attributes of ownership had been transferred to the buyer and we had no significant continuing involvement. The application of these criteria can be complex and required us to make assumptions. We believe the relevant criteria were met for all real estate sold during the periods presented. |
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| 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, 2019, 2018 and 2017, real estate depreciation expense was $85.3 million, $99.6 million and $70.2 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 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 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.
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| Capitalized Costs | 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.
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| Impairment of Long Lived Assets | 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.
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| 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.
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| 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. 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 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.
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| Cash and Cash Equivalents | 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.
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| Restricted Cash | 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.
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| Other Assets | 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 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.
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| Variable Interest Entities | 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.
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| 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. 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.
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| 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. 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.
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| 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 ending 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 that we derive from our REIT qualifying activities. 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.
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| Segment Information | 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 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.
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| Recent Accounting Pronouncements | Recent Accounting Pronouncements In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which provides the principles for the recognition, measurement, presentation and disclosure of leases. This ASU significantly changes the accounting for leases by requiring lessees to recognize assets and liabilities for leases greater than 12 months on their balance sheet. The lessor model stays substantially the same; however, there were modifications to conform lessor accounting with the lessee model, eliminate real estate specific guidance, further define certain lease and non-lease components, and change the definition of initial direct costs of leases. We adopted the provisions of ASU No. 2016-02 effective January 1, 2019 using the modified retrospective approach. In July 2018, the FASB issued ASU 2018-11, Leases (Topic 842): Targeted Improvements, which allows lessors to elect a practical expedient by class of underlying assets to not separate non-lease components from the lease component if certain conditions are met. The lessor’s practical expedient election would be limited to circumstances in which the non-lease components otherwise would be accounted for under the new revenue guidance and both (i) the timing and pattern of transfer are the same for the non-lease component and the related lease component and (ii) the lease component would be classified as an operating lease. The company elected the practical expedient, which allows the company the ability to combine the lease and non-lease components if the underlying asset meets the criteria above. Due to our election of the practical expedient approach, for the year ended December 31, 2019, approximately $38.4 million of non-lease components are combined with lease rental income. ASU 2018-11 also includes an optional transition method in addition to the existing requirements for transition to the new standard by recognizing a cumulative effect adjustment to the opening balance sheet of retained earnings in the period of adoption. Consequently, a company’s reporting for the comparative periods presented in the financial statements would continue to be in accordance with previous GAAP (Topic 840). The company elected this practical expedient as well. Further, bad debt expense, which has previously been recorded in rental expenses, has now been classified as a contra-revenue account in rental income in the company’s consolidated statements of comprehensive income beginning in the year ended December 31, 2019. We evaluated all leases within this scope under existing accounting standards and under the new ASU lease standard recognized approximately $7.7 million of right-of-use assets and lease liabilities for the year ended December 31, 2019. Effective January 1, 2019, approximately $0.8 million of deferred rent expense was reclassified to lease liability within the other liabilities and deferred credits, net. As of December 31, 2019, the remaining contractual payments under lease agreements for which the company is the lessee aggregated approximately $5.6 million. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers. The pronouncement was issued to clarify the principles for recognizing revenue and to develop a common revenue standard and disclosure requirements for U.S. GAAP and International Financial Reporting Standards. The pronouncement is effective for reporting periods beginning after December 15, 2017. We adopted the provisions of the ASU effective January 1, 2018 using the modified retrospective approach. As discussed above, lease are specifically excluded from this and will be governed by the applicable lease codification. We evaluated the revenue recognition for all contracts within this scope under existing accounting standards and under the new revenue recognition ASU and confirmed that there were no differences in the amounts recognized or the pattern of recognition. This evaluation included revenues from the hotel portion of our mixed-use property, parking income and excise taxes charged to customers. Therefore, the adoption of this ASU did not result in an adjustment to the company’s retained earnings on January 1, 2018. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Topics. The pronouncement requires companies to adopt a new approach to estimating credit losses on certain types of financial instruments, such as trade and other receivables and loans. The standard requires entities to estimate a lifetime expected credit loss for most financial instruments, including trade receivables. The pronouncement is effective for fiscal years and for interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, which clarifies that receivables arising from operating leases are not within the scope of the pronouncement. We evaluated the impact this pronouncement will have on our consolidated financial statements and do not believe that the pronouncement will have a material impact on our consolidated financial statements as the majority of our receivables are derived from operating leases and are excluded from this standard.
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| 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:
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.
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- Definition Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to employees, including equity-based arrangements; discloses methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for consolidation to describe the significant judgments and assumptions made in determining whether a variable interest held by the entity requires the variable interest entity to be consolidated and (or) disclose information about its involvement with the variable interest entity; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; and the significant factors considered and judgments made in determining that the power to direct the activities that significantly impact the economic performance of the variable interest entity are shared (as defined). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. No definition available.
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- Definition Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition Disclosure of accounting policy for entities that primarily develop and then sell real property at retail or otherwise. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for award under share-based payment arrangement. Includes, but is not limited to, methodology and assumption used in measuring cost. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Real Estate (Tables) |
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| Summary of Real Estate Investments | A summary of the properties owned by us is as follows:
A summary of our real estate investments is as follows (in thousands):
(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.
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| Schedule of Purchase Price Allocations | The financial information set forth below summarizes the company’s purchase price allocations for La Jolla Commons during the year ended December 31, 2019 (in thousands):
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| Schedule of Operating Results | The following table summarizes the operating results for the La Jolla Commons included in the company’s historical consolidated statement of comprehensive income and in the office segment for the period of acquisition through December 31, 2019 (in thousands):
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| Schedule of Pro Forma Financial Information | The pro forma financial information set forth below is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2018, nor does it purport to represent the results of future operations (in thousands).
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Summary of Significant Accounting Policies (Tables) |
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Dec. 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Properties Owned | A summary of the properties owned by us is as follows:
A summary of our real estate investments is as follows (in thousands):
(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.
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| Consolidated Statements of Cash Flows-Supplemental Disclosures | The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of supplemental cash flow information for the periods presented. No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. No definition available.
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Acquired In-Place Leases and Above/Below Market Leases (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of acquired lease intangibles included in other assets and other liabilities | 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):
The following summarizes our acquired lease intangibles, which are included in other assets and other liabilities and deferred credits (in thousands):
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| Future Amortization for Acquired In-Place Leases | As of December 31, 2019, the amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Fair Value of Financial Instruments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial liabilities measured at fair value on recurring basis | A summary of our financial liabilities that are measured at fair value on a recurring basis by level within the fair value hierarchy is as follows (in thousands):
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| 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):
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| X | ||||||||||
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Other Assets (Tables) |
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Prepaid Expenses and Other Assets | Other assets consist of the following (in thousands):
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- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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Other Liabilities and Deferred Credits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities and deferred credits | Other liabilities and deferred credits consist of the following (in thousands):
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| X | ||||||||||
- Definition Tabular disclosure of other liabilities and deferred credits not separately disclosed on the balance sheet. No definition available.
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| X | ||||||||||
- References No definition available.
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Debt (Tables) |
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of total secured notes payable outstanding | The following is a summary of the Operating Partnership's total secured notes payable outstanding as of December 31, 2019 and December 31, 2018 (in thousands):
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| Scheduled principal payments on notes payable | Scheduled principal payments on secured and unsecured notes payable as of December 31, 2019 are as follows (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Derivative and Hedging (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, 2019 (dollars in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Equity of American Assets Trust, Inc. (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, 2019, 2018 and 2017:
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| 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:
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| Schedule of restricted common stock | The following shares of restricted common stock have been issued as of December 31, 2019:
(2)
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| Activity of restricted stock awards | The following table summarizes the activity of non-vested restricted stock awards during the year ended December 31, 2019:
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| 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):
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| X | ||||||||||
- Definition Dividends declared and paid on shares of common stock and noncontrolling common units. No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Tabular disclosure of all or some of the information related to dividends declared, but not paid, as of the financial reporting date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
|
Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income tax provision | The income tax provision included in other income (expense) on the consolidated statement of income is as follows (in thousands):
|
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
LEASES (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Future minimum rental payments for operating leases | As of December 31, 2019, 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):
|
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| Current minimum annual payments under the leases | Current annual payments under the operating leases are as follows, as of December 31, 2019 (in thousands):
|
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| Lease costs under operating leases and supplemental cash flow information of leases | Lease costs under the operating leases are as follows (in thousands):
Supplemental cash flow information and non-cash activity related to our operating leases are as follow (in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
Component of Rental Income and Expense (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Leases, Income Statement, Lease Revenue [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal components of rental income | The principal components of rental income are as follows (in thousands):
|
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| Principal components of rental expenses | The principal components of rental expenses are as follows (in thousands):
|
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| X | ||||||||||
- Definition Components of rental expense. No definition available.
|
| X | ||||||||||
- Definition Components of rental income. No definition available.
|
| X | ||||||||||
- References No definition available.
|
Other Income (Expenses) (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal components of other income (expense), net | The principal components of other income (expense), net are as follows (in thousands):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. No definition available.
|
Segment Reporting (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of segments operating activity | The following table represents operating activity within our reportable segments (in thousands):
|
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| 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):
|
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| 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):
|
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| X | ||||||||||
- Definition Tabular disclosure of the net real estate and secured note payable balances by segment. No definition available.
|
| X | ||||||||||
- Definition Reconciliation of segment profit to net income attributable to stockholders. No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
Quarterly Financial Information (Unaudited) (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Selected Quarterly Information | The tables below reflect selected American Assets Trust, Inc. quarterly information for 2019 and 2018 (in thousands, except per shares data):
The tables below reflect selected American Assets Trust, L.P. quarterly information for 2019 and 2018 (in thousands, except per shares data):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Real Estate (Details) $ in Thousands |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
Jun. 20, 2019
USD ($)
ft²
|
May 22, 2019
USD ($)
|
Jul. 06, 2017
USD ($)
ft²
|
Apr. 28, 2017
USD ($)
unit
|
Dec. 31, 2019
USD ($)
|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
|
| Real Estate [Line Items] | |||||||
| Proceeds from sale of real estate, net of selling costs | $ 8,191 | $ 0 | $ 0 | ||||
| Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 8 years 2 months 12 days | ||||||
| Solana Beach Highway 101 Land | |||||||
| Real Estate [Line Items] | |||||||
| Sales price of property sold | $ 9,400 | ||||||
| Proceeds from sale of real estate, net of selling costs | $ 9,400 | ||||||
| Gain on sale of real estate | $ 600 | $ 0 | |||||
| Pacific Ridge Apartments | |||||||
| Real Estate [Line Items] | |||||||
| Number of units in real estate property | unit | 533 | ||||||
| Purchase price consideration | $ 232,000 | ||||||
| Acquisition cost capitalized | $ 100 | ||||||
| Gateway Marketplace | |||||||
| Real Estate [Line Items] | |||||||
| Purchase price consideration | $ 42,000 | ||||||
| Acquisition cost capitalized | $ 100 | ||||||
| Area of real estate property | ft² | 128,000 | ||||||
| La Jolla Commons | |||||||
| Real Estate [Line Items] | |||||||
| Purchase price consideration | $ 525,000 | ||||||
| Purchase Price Seller Credits - Speculative Lease-up | 11,500 | ||||||
| Purchase Price Seller Credits - Assumed Contractual Liabilities | 4,200 | ||||||
| Purchase Price Seller Credits - Closing Prorations | 1,700 | ||||||
| Acquisition cost capitalized | $ 200 | ||||||
| Area of real estate property | ft² | 724,000 | ||||||
| X | ||||||||||
- Definition Acquisition costs capitalized. No definition available.
|
| X | ||||||||||
- Definition Purchase Price Seller Credits - Assumed Contractual Liabilities No definition available.
|
| X | ||||||||||
- Definition Purchase Price Seller Credits - Closing Prorations No definition available.
|
| X | ||||||||||
- Definition Purchase Price Seller Credits - Speculative Lease-up No definition available.
|
| X | ||||||||||
- Definition Sales Price of Property Sold No definition available.
|
| X | ||||||||||
- Definition Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Area of a real estate property. No definition available.
|
| X | ||||||||||
- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The number of units in a real estate property owned as of the balance sheet date. No definition available.
|
| X | ||||||||||
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Cash received from the sale of real estate that is held for investment, that is, it is part of an investing activity during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Real Estate Summary of Real Estate Investments (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Dec. 31, 2018 |
||
|---|---|---|---|---|
| Real Estate Properties [Line Items] | ||||
| Construction in progress | $ 91,264 | $ 71,228 | ||
| Total Real estate, at cost | 3,188,697 | 2,630,191 | ||
| Accumulated depreciation | (665,222) | (590,338) | ||
| Net real estate | 2,523,475 | 2,039,853 | ||
| Total Retail | ||||
| Real Estate Properties [Line Items] | ||||
| Net real estate | 624,912 | 628,734 | ||
| Total Office | ||||
| Real Estate Properties [Line Items] | ||||
| Net real estate | 1,317,854 | 822,574 | ||
| Real Estate Investment | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 628,557 | 555,630 | ||
| Buildings | 2,173,740 | 1,775,730 | ||
| Land improvements | 67,144 | 61,621 | ||
| Tenant improvements | 241,621 | 163,740 | ||
| Furniture, fixtures, and equipment | 26,158 | 23,911 | ||
| Construction in progress | [1] | 51,477 | 49,559 | |
| Total Real estate, at cost | 3,188,697 | 2,630,191 | ||
| Accumulated depreciation | (665,222) | (590,338) | ||
| Net real estate | 2,523,475 | 2,039,853 | ||
| Real Estate Investment | Total Retail | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 254,016 | 262,860 | ||
| Buildings | 523,645 | 516,566 | ||
| Land improvements | 46,335 | 43,412 | ||
| Tenant improvements | 87,707 | 70,210 | ||
| Furniture, fixtures, and equipment | 911 | 570 | ||
| Construction in progress | 6,487 | 8,598 | ||
| Total Real estate, at cost | 919,101 | 902,216 | ||
| Accumulated depreciation | (294,189) | (273,482) | ||
| Net real estate | 624,912 | 628,734 | ||
| Real Estate Investment | Total Office | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 225,238 | 143,467 | ||
| Buildings | 1,132,990 | 743,474 | ||
| Land improvements | 11,097 | 8,825 | ||
| Tenant improvements | 151,662 | 91,612 | ||
| Furniture, fixtures, and equipment | 3,065 | 2,671 | ||
| Construction in progress | 35,397 | 39,511 | ||
| Total Real estate, at cost | 1,559,449 | 1,029,560 | ||
| Accumulated depreciation | (241,595) | (206,986) | ||
| Net real estate | 1,317,854 | 822,574 | ||
| Real Estate Investment | Total Multifamily | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 72,668 | 72,668 | ||
| Buildings | 390,379 | 389,831 | ||
| Land improvements | 7,106 | 6,778 | ||
| Tenant improvements | 0 | 0 | ||
| Furniture, fixtures, and equipment | 14,995 | 13,844 | ||
| Construction in progress | 2,212 | 854 | ||
| Total Real estate, at cost | 487,360 | 483,975 | ||
| Accumulated depreciation | (86,208) | (71,933) | ||
| Net real estate | 401,152 | 412,042 | ||
| Real Estate Investment | Total Mixed-Use | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 76,635 | 76,635 | ||
| Buildings | 126,726 | 125,859 | ||
| Land improvements | 2,606 | 2,606 | ||
| Tenant improvements | 2,252 | 1,918 | ||
| Furniture, fixtures, and equipment | 7,187 | 6,826 | ||
| Construction in progress | 7,381 | 596 | ||
| Total Real estate, at cost | 222,787 | 214,440 | ||
| Accumulated depreciation | (43,230) | (37,937) | ||
| Net real estate | $ 179,557 | $ 176,503 | ||
| ||||
| X | ||||||||||
- Definition Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount before accumulated depreciation of equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount before accumulated depletion of real estate held for productive use, excluding land held for sale. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount before accumulated deprecation and depletion of additions or improvements to real estate held for productive use. Examples include, but are not limited to, walkways, driveways, fences, and parking lots. No definition available.
|
| X | ||||||||||
- Definition The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of improvements having a life longer than one year that were made for the benefit of one or more tenants. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
Summary of Significant Accounting Policies (Details) |
12 Months Ended | |||
|---|---|---|---|---|
|
Dec. 31, 2019
USD ($)
Employee
Segment
Room
Property
|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
Jan. 01, 2019
USD ($)
|
|
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Lease, Practical Expedient, Lease and Non-lease Components | $ 38,400,000 | |||
| Document Period End Date | Dec. 31, 2019 | |||
| Number of employees | Employee | 206 | |||
| Number of office, retail, multifamily and mixed-use operating properties | Property | 28 | |||
| Properties held for development | Property | 3 | |||
| Allowance for doubtful accounts | $ (1,200,000) | $ (600,000) | ||
| Total bad debt expense | 1,800,000 | 800,000 | $ 800,000 | |
| Real estate depreciation expense | $ 85,300,000 | 99,600,000 | 70,200,000 | |
| Short term liquid investments, initial maturity | 3 months | |||
| Cash balance at banks, federally insured amount | $ 250,000 | |||
| Cash balance at banks, excess of FDIC insured limit | 36,200,000 | 42,400,000 | ||
| Restricted cash | 10,148,000 | 9,316,000 | 9,344,000 | |
| Incremental stock compensation cost from modification | $ 0 | 0 | 2,200,000 | |
| Number of operating segments | Segment | 4 | |||
| Rooms in mixed-use segment all-suite hotel | Room | 369 | |||
| Future minimum lease payments due | $ 5,600,000 | |||
| Right-of-use asset, net | 4,863,000 | 0 | $ 7,700,000 | |
| Straight-line rent liability | 16,903,000 | 7,393,000 | $ 800,000 | |
| Lease liability | 5,380,000 | 0 | ||
| Money Market Funds | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Cash balance at banks, excess of FDIC insured limit | $ 52,500,000 | 200,000 | ||
| Minimum | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Percentage of taxable income required to distribute to qualify as real estate investment trust (REIT) | 90.00% | |||
| 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 | |||
| Deferred Rent Receivables | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Allowance for doubtful accounts | $ (500,000) | (300,000) | ||
| Other Income | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| General excise tax recognized, gross | $ 3,500,000 | $ 3,600,000 | $ 3,700,000 | |
| X | ||||||||||
- Definition Cash Equivalents, Maturity Period No definition available.
|
| X | ||||||||||
- Definition Lease, Practical Expedient, Lease and Non-lease Components No definition available.
|
| X | ||||||||||
- Definition Number of rooms in mixed use segment all suite hotel. No definition available.
|
| X | ||||||||||
- Definition Percentage Of Distributed Taxable Income To Qualify As Reit No definition available.
|
| X | ||||||||||
- Definition The number of real estate properties held for development. No definition available.
|
| X | ||||||||||
- Definition Summary Of Significant Accounting Policies [Line Items] No definition available.
|
| X | ||||||||||
- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
|
| X | ||||||||||
- Definition Number of persons employed by the Entity No definition available.
|
| X | ||||||||||
- Definition Amount of allowance for credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of cash deposited in financial institutions as of the balance sheet date that is insured by the Federal Deposit Insurance Corporation. No definition available.
|
| X | ||||||||||
- Definition The amount of cash as of the balance sheet date that is not insured by the Federal Deposit Insurance Corporation. No definition available.
|
| X | ||||||||||
- Definition The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property by the lessor or lessee, respectively. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The excise taxes collected by a public utility and reported in revenues if the amount of excise taxes is equal to 1 percent or more of such total. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
- Definition The number of real estate properties owned as of the balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
| X | ||||||||||
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
| X | ||||||||||
- Definition Amount of expense (reversal of expense) for expected credit loss on accounts receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition An excess of the fair value of the modified award over the fair value of the award immediately before the modification. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
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- Details
|
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- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Real Estate La Jolla Commons Financial Results (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Real Estate [Line Items] | ||||||||||||
| Total revenue | $ 98,947 | $ 98,362 | $ 84,113 | $ 85,319 | $ 82,605 | $ 82,507 | $ 85,023 | $ 80,732 | $ 366,741 | $ 330,867 | $ 314,983 | |
| Operating Expenses | 253,056 | 251,332 | 221,337 | |||||||||
| Operating income (loss) | 29,993 | 30,384 | 24,487 | 28,821 | 22,091 | 27,275 | 17,249 | 12,920 | 113,685 | 79,535 | 93,646 | |
| Net income | $ 16,485 | $ 16,519 | $ 11,941 | $ 15,243 | $ 9,209 | $ 14,271 | $ 4,413 | $ (691) | $ 60,188 | $ 27,202 | $ 40,132 | |
| La Jolla Commons | ||||||||||||
| Real Estate [Line Items] | ||||||||||||
| Total revenue | $ 20,579 | |||||||||||
| Operating Expenses | 18,140 | |||||||||||
| Operating income (loss) | 2,439 | |||||||||||
| Net income | $ 2,650 | |||||||||||
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
Summary of Significant Accounting Policies Supplemental Disclosures Related to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Supplemental cash flow information | |||
| Total interest costs incurred | $ 54,636 | $ 53,736 | $ 55,418 |
| Interest capitalized | 628 | 1,488 | 1,570 |
| Interest expense | 54,008 | 52,248 | 53,848 |
| Cash paid for interest, net of amounts capitalized | 51,975 | 52,632 | 47,473 |
| Cash paid for income taxes | 971 | 462 | 461 |
| Supplemental schedule of noncash investing and financing activities | |||
| Accounts payable and accrued liabilities for construction in progress | 25,413 | 14,440 | 6,863 |
| Accrued leasing commissions | 3,345 | 5,229 | 1,694 |
| Reduction to capital for prepaid equity financing costs | 0 | 241 | 0 |
| Building recorded in termination of ground lease | $ 4,518 | $ 0 | $ 0 |
| X | ||||||||||
- Definition Change in accrued liabilities for construction in progress. No definition available.
|
| X | ||||||||||
- Definition Change in accrued leasing commissions No definition available.
|
| X | ||||||||||
- Definition Real Estate Owned, Transfer to Real Estate Owned from Ground Lease Obligations No definition available.
|
| X | ||||||||||
- Definition Reduction to Capital for Prepaid Offering Costs No definition available.
|
| X | ||||||||||
- Definition The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. No definition available.
|
| X | ||||||||||
- Definition Total interest costs incurred during the period and either capitalized or charged against earnings. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- References No definition available.
|
Real Estate Property Asset Acquisitions (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Real Estate [Line Items] | ||
| Acquired in-place leases, net | $ 31,224 | $ 6,281 |
| Prepaid expenses, deposits and other | 7,225 | 6,683 |
| TOTAL ASSETS | 2,790,333 | 2,198,250 |
| Accounts payable and accrued expenses | 62,576 | 46,616 |
| Security deposits payable | 8,316 | 8,844 |
| Other liabilities and deferred credits | 68,110 | 49,547 |
| Liabilities | 1,496,661 | $ 1,395,779 |
| La Jolla Commons | ||
| Real Estate [Line Items] | ||
| Land | 82,759 | |
| Buildings | 361,471 | |
| Land improvements | 1,359 | |
| Furniture, fixtures, and equipment | 30,822 | |
| Total real estate | 476,411 | |
| Acquired in-place leases, net | 40,082 | |
| Prepaid expenses, deposits and other | 13 | |
| TOTAL ASSETS | 516,506 | |
| Accounts payable and accrued expenses | 3,578 | |
| Security deposits payable | 443 | |
| Other liabilities and deferred credits | 3,817 | |
| Liabilities | $ 7,838 |
| X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total carrying amount as of the balance sheet date of unearned revenue or income, not otherwise specified in the taxonomy, which is expected to be taken into income in future periods and obligations not separately disclosed in the balance sheet (other liabilities). No definition available.
|
| X | ||||||||||
- Definition This element represents the amount of value allocated by a lessor (acquirer) to lease agreements which exist at acquisition of a leased property. Such amount may include the value assigned to existing tenant relationships and excludes the market adjustment component of the value assigned for above or below-market leases acquired. No definition available.
|
| X | ||||||||||
- Definition Amount before accumulated depreciation of equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount before accumulated depletion of real estate held for productive use, excluding land held for sale. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount before accumulated deprecation and depletion of additions or improvements to real estate held for productive use. Examples include, but are not limited to, walkways, driveways, fences, and parking lots. No definition available.
|
| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition This element represents money paid in advance to protect the provider of a product or service, such as a lessor, against damage or nonpayment by the buyer or tenant (lessee) during the term of the agreement. Such damages may include physical damage to the property, theft of property, and other contractual breaches. Security deposits held may be interest or noninterest bearing. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
Real Estate Pro Forma Financial Information (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Real Estate [Line Items] | |||||||||||
| Total revenue | $ 98,947 | $ 98,362 | $ 84,113 | $ 85,319 | $ 82,605 | $ 82,507 | $ 85,023 | $ 80,732 | $ 366,741 | $ 330,867 | $ 314,983 |
| Operating Expenses | 253,056 | 251,332 | 221,337 | ||||||||
| Operating income (loss) | 29,993 | 30,384 | 24,487 | 28,821 | 22,091 | 27,275 | 17,249 | 12,920 | 113,685 | 79,535 | 93,646 |
| Net income | $ 16,485 | $ 16,519 | $ 11,941 | $ 15,243 | $ 9,209 | $ 14,271 | $ 4,413 | $ (691) | 60,188 | 27,202 | $ 40,132 |
| Pro Forma | |||||||||||
| Real Estate [Line Items] | |||||||||||
| Total revenue | 383,125 | 365,326 | |||||||||
| Operating Expenses | 264,107 | 281,253 | |||||||||
| Operating income (loss) | 119,018 | 84,073 | |||||||||
| Net income | $ 64,278 | $ 30,662 | |||||||||
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
Acquired In-Place Leases and Above/Below Market Leases Summary of Acquired Lease Intangibles (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Finite-Lived Intangible Assets, Gross [Abstract] | ||
| Acquired lease intangible assets | $ 183 | $ 518 |
| Net of accumulated amortization of other intangible assets | (1,031) | (981) |
| Below Market Lease [Abstract] | ||
| Below market leases | 62,126 | 63,172 |
| Accumulated accretion | (36,674) | (37,220) |
| Acquired lease intangible liabilities, net | 25,452 | 25,952 |
| In-place leases | ||
| Finite-Lived Intangible Assets, Gross [Abstract] | ||
| Acquired lease intangible assets | 63,896 | 40,884 |
| Net of accumulated amortization of other intangible assets | (32,672) | (34,603) |
| Acquired lease intangible assets, net | 31,224 | |
| Above market leases | ||
| Finite-Lived Intangible Assets, Gross [Abstract] | ||
| Acquired lease intangible assets | 7,534 | 11,963 |
| Net of accumulated amortization of other intangible assets | (7,351) | (11,445) |
| Acquired lease intangible assets, net | 183 | |
| Acquired lease intangible assets | ||
| Finite-Lived Intangible Assets, Gross [Abstract] | ||
| Acquired lease intangible assets, net | $ 31,407 | $ 6,799 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of accumulated amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- Definition Amount before amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- Definition Amount after amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- Definition This element represents the identifiable intangible asset established upon acquisition based on a favorable difference between the terms of an acquired lease and the current market terms for that lease at the acquisition date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Acquired In-Place Leases and Above/Below Market Leases (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of acquired above and below market leases | $ 3.8 | $ 3.6 | $ 3.3 |
| Weighted-average amortization period of below market leases | 11 years | ||
| Acquired lease, below market renewal options | $ 12.3 | ||
| Weighted-average amortization period of acquired leases prior to the commencement of renewal option | 8 years 10 months 24 days | ||
| In-place leases | |||
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Weighted-average amortization period of acquired leases | 8 years 6 months | ||
| Above market leases | |||
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Weighted-average amortization period of acquired leases | 4 years 7 months 6 days | ||
| X | ||||||||||
- Definition Acquired Finite-Lived Intangible Liabilities, Below Market Leases, Weighted Average Period Before Renewal or Extension No definition available.
|
| X | ||||||||||
- Definition Finite-Lived Intangible Liabilities, Below Market Leases, Renewal Options No definition available.
|
| X | ||||||||||
- Definition Finite-Lived Intangible Liabilities, Below Market Leases, Weighted Average Period Before Next Renewal or Extension No definition available.
|
| X | ||||||||||
- Definition Weighted average period before the next renewal or extension for intangible assets with renewal or extension terms, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of non-cash amortization of intangible asset (liability) for above and below market leases. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
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, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of leases | $ (976) | $ 1,480 | $ (5,464) |
| Amortization of below market leases | 4,131 | 4,230 | 4,239 |
| In-place leases | |||
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of leases | (4,762) | (2,090) | (8,769) |
| Above market leases | |||
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of leases | $ (345) | $ (660) | $ (934) |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization of acquired leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- Definition The expense charged against earnings for the periodic recognition of capitalized leases. This element may apply to energy companies that lease mineral producing properties and to other enterprises that capitalize property, plant, or equipment obtained through capital leases. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
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, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract] | ||
| 2020 | $ 3,382 | |
| 2021 | 3,148 | |
| 2022 | 2,579 | |
| 2023 | 2,329 | |
| 2024 | 2,038 | |
| Thereafter | 11,976 | |
| Acquired lease intangible liabilities, net | 25,452 | $ 25,952 |
| In-place leases | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| 2020 | 4,903 | |
| 2021 | 4,244 | |
| 2022 | 3,589 | |
| 2023 | 3,363 | |
| 2024 | 3,178 | |
| Thereafter | 11,947 | |
| Acquired lease intangible assets, net | 31,224 | |
| Above market leases | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| 2020 | 62 | |
| 2021 | 28 | |
| 2022 | 28 | |
| 2023 | 27 | |
| 2024 | 24 | |
| Thereafter | 14 | |
| Acquired lease intangible assets, net | $ 183 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount after amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Fair Value of Financial Instruments Liabilities Fair Value Measurement on a Recurring Basis (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | $ 1,669 | $ 1,424 |
| Interest rate swap asset | 434 | 6,002 |
| Interest rate swap liability | 1,317 | 801 |
| Fair Value, Inputs, Level 1 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | 0 | 0 |
| Interest rate swap asset | 0 | 0 |
| Interest rate swap liability | 0 | 0 |
| Fair Value, Inputs, Level 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 | Fair Value, Inputs, Level 2 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | 1,669 | 1,424 |
| Interest rate swap asset | 434 | 6,002 |
| Interest rate swap liability | $ 1,317 | $ 801 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative assets, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as assets. No definition available.
|
| X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. No definition available.
|
| X | ||||||||||
- Definition Fair value of financial and nonfinancial obligations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Fair Value of Financial Instruments (Details) - Fair Value, Inputs, Level 2 |
Dec. 31, 2019 |
|---|---|
| Minimum | |
| Fair Value Inputs Disclosures | |
| Fair value assumptions, interest rate | 0.029 |
| Maximum | |
| Fair Value Inputs Disclosures | |
| Fair value assumptions, interest rate | 0.041 |
| X | ||||||||||
- Definition Value of input used to measure debt instrument, including, but not limited to, convertible and non-convertible debt. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Fair Value of Financial Instruments Carrying Amount and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Secured notes payable | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | $ 161,879 | $ 182,572 |
| Secured notes payable | Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 166,885 | 183,253 |
| Unsecured debt | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 248,864 | 248,765 |
| Unsecured debt | Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 250,000 | 250,000 |
| Unsecured senior guaranteed notes | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 946,916 | 797,098 |
| Unsecured senior guaranteed notes | Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 975,291 | 790,267 |
| Unsecured line of credit | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 0 | 62,337 |
| Unsecured line of credit | Estimate of Fair Value Measurement | Fair Value, Inputs, Level 2 | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | $ 0 | $ 64,000 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Other Assets (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Jan. 01, 2019 |
Dec. 31, 2018 |
|---|---|---|---|
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||
| Leasing commissions, net of accumulated amortization of $30,775 and $28,597, respectively | $ 42,539 | $ 28,796 | |
| Interest rate swap asset | 434 | 6,002 | |
| Acquired above market leases, net | 183 | 518 | |
| Acquired in-place leases, net | 31,224 | 6,281 | |
| Lease incentives, net of accumulated amortization of $565 and $299, respectively | 2,603 | 747 | |
| Other intangible assets, net of accumulated amortization of $1,031 and $981, respectively | 2,893 | 2,994 | |
| Debt issuance costs, net of accumulated amortization of $814 and $0, respectively | 1,256 | 0 | |
| Right-of-use asset, net | 4,863 | $ 7,700 | 0 |
| Prepaid expenses, deposits and other | 7,225 | 6,683 | |
| Total other assets | 93,220 | 52,021 | |
| Leasing commissions, accumulative amortization | 30,775 | 28,597 | |
| Lease incentives, accumulated amortization | 565 | 299 | |
| Other intangible assets, accumulated amortization | 1,031 | 981 | |
| Debt issuance costs, accumulated amortization | $ 814 | $ 0 |
| X | ||||||||||
- Definition Lease Incentive Accumulated Amortization No definition available.
|
| X | ||||||||||
- Definition Amount of accumulated amortization of debt issuance costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition For an unclassified balance sheet, the accumulated amortization, as of the reporting date, which represents the periodic charge to earnings of initial direct costs which have been deferred and are being allocated over the lease term in proportion to the recognition of rental income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition This element represents costs incurred by the lessor that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This element is net of accumulated amortization. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition This element represents the amount of value allocated by a lessor (acquirer) to lease agreements which exist at acquisition of a leased property. Such amount may include the value assigned to existing tenant relationships and excludes the market adjustment component of the value assigned for above or below-market leases acquired. No definition available.
|
| X | ||||||||||
- Definition This element represents the identifiable intangible asset established upon acquisition based on a favorable difference between the terms of an acquired lease and the current market terms for that lease at the acquisition date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition This item represents the deferred charge for an incentive or inducement granted by a lessor to a lessee, in order to motivate the lessee to enter the lease agreement, which incentive or inducement is to be recognized as a reduction of rental revenue over the lease term. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of lessee's right to use underlying asset under operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount before accumulated amortization of finite-lived intangible assets classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets. No definition available.
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Other Liabilities and Deferred Credits (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Jan. 01, 2019 |
Dec. 31, 2018 |
|---|---|---|---|
| Other Liabilities Disclosure [Abstract] | |||
| Acquired below market leases, net | $ 25,452 | $ 25,952 | |
| Prepaid rent and deferred revenue | 16,969 | 11,634 | |
| Interest rate swap liability | 1,317 | 801 | |
| Straight-line rent liability | 16,903 | $ 800 | 7,393 |
| Deferred rent expense and lease intangible | 28 | 2,210 | |
| Deferred compensation | 1,669 | 1,424 | |
| Deferred tax liability | 332 | 93 | |
| Lease liability | 5,380 | 0 | |
| Other liabilities | 60 | 40 | |
| Total other liabilities and deferred credits, net | $ 68,110 | $ 49,547 |
| X | ||||||||||
- Definition Deferred rent expense and lease intangible. No definition available.
|
| X | ||||||||||
- Definition Aggregate carrying value as of the balance sheet date of the liabilities for all deferred compensation arrangements. Represents currently earned compensation under compensation arrangements that is not actually paid until a later date. No definition available.
|
| X | ||||||||||
- Definition Total carrying amount as of the balance sheet date of unearned revenue or income, not otherwise specified in the taxonomy, which is expected to be taken into income in future periods and obligations not separately disclosed in the balance sheet (other liabilities). No definition available.
|
| X | ||||||||||
- Definition The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property by the lessor or lessee, respectively. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of deferred income and obligation to transfer product and service to customer for which consideration has been received or is receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition This element represents a liability associated with the acquisition of an off-market lease when the terms of the lease are unfavorable to the market terms for the lease at the date of acquisition. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of liabilities classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
Debt Summary of Total Secured Notes Payable Outstanding (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|
| Debt Instrument [Line Items] | ||
| Debt issuance costs, net | $ (1,256) | $ 0 |
| Notes payable, total | 1,362,003 | |
| Debt issuance costs, accumulated amortization | 814 | 0 |
| Secured notes payable | American Assets Trust, L.P. | ||
| Debt Instrument [Line Items] | ||
| Long-term Debt, Principal Balance | 162,003 | 182,765 |
| Debt issuance costs, net | (124) | (193) |
| Notes payable, total | $ 161,879 | 182,572 |
| Number of year amortization schedule | 30 years | |
| Debt issuance costs, accumulated amortization | $ 449 | 671 |
| Secured notes payable | American Assets Trust, L.P. | Torrey Reserve - North Court | ||
| Debt Instrument [Line Items] | ||
| Long-term Debt, Principal Balance | $ 0 | 19,620 |
| Stated Interest Rate | 7.22% | |
| Stated Maturity Date | Jun. 01, 2019 | |
| Secured notes payable | American Assets Trust, L.P. | Torrey Reserve-VCI, VCII, VCIII | ||
| Debt Instrument [Line Items] | ||
| Long-term Debt, Principal Balance | $ 6,498 | 6,635 |
| Stated Interest Rate | 6.36% | |
| Stated Maturity Date | Jun. 01, 2020 | |
| Secured notes payable | American Assets Trust, L.P. | Solana Beach Corporate Centre I-II | ||
| Debt Instrument [Line Items] | ||
| Long-term Debt, Principal Balance | $ 10,270 | 10,502 |
| Stated Interest Rate | 5.91% | |
| Stated Maturity Date | Jun. 01, 2020 | |
| Secured notes payable | American Assets Trust, L.P. | Solana Beach Towne Centre | ||
| Debt Instrument [Line Items] | ||
| Long-term Debt, Principal Balance | $ 34,235 | 35,008 |
| Stated Interest Rate | 5.91% | |
| Stated Maturity Date | Jun. 01, 2020 | |
| Secured notes payable | American Assets Trust, L.P. | City Center Bellevue | ||
| Debt Instrument [Line Items] | ||
| Long-term Debt, Principal Balance | $ 111,000 | $ 111,000 |
| Stated Interest Rate | 3.98% | |
| Stated Maturity Date | Nov. 01, 2022 |
| X | ||||||||||
- Definition Amount of accumulated amortization of debt issuance costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Debt Summary of Total Unsecured Notes Payable Outstanding (Details) $ in Thousands |
12 Months Ended | ||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jul. 17, 2019
USD ($)
|
Jan. 09, 2019
Extension_Option
|
Jun. 23, 2017
USD ($)
|
May 31, 2017 |
May 11, 2017
USD ($)
|
Apr. 25, 2017 |
Jan. 18, 2017
USD ($)
|
May 02, 2016 |
Apr. 07, 2016 |
Mar. 29, 2016 |
Mar. 23, 2016 |
Mar. 01, 2016 |
Jan. 29, 2016 |
Sep. 19, 2014
USD ($)
|
Dec. 31, 2019
USD ($)
|
Dec. 31, 2018
USD ($)
|
Jul. 19, 2017 |
May 23, 2017 |
Mar. 01, 2017 |
Jan. 09, 2014
USD ($)
|
||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Debt issuance costs, net | $ (1,256) | $ 0 | |||||||||||||||||||||||||||||
| Unsecured notes payable | 1,195,780 | 1,045,863 | |||||||||||||||||||||||||||||
| Debt issuance costs, accumulated amortization | 814 | 0 | |||||||||||||||||||||||||||||
| American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Unsecured notes payable | $ 1,195,780 | $ 1,045,863 | |||||||||||||||||||||||||||||
| American Assets Trust, L.P. | Interest Rate Swap | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Fixed interest rate on derivative | 3.08% | ||||||||||||||||||||||||||||||
| Term of derivative contract | 7 years | 10 years | 10 years | 10 years | 7 years | ||||||||||||||||||||||||||
| American Assets Trust, L.P. | Forward Contracts | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Term of derivative contract | 1 month | ||||||||||||||||||||||||||||||
| Gain on derivatives | $ 500 | $ 700 | $ 10,400 | $ 1,600 | |||||||||||||||||||||||||||
| Loss on derivatives | $ 500 | ||||||||||||||||||||||||||||||
| Term Loan A | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Unsecured notes payable | $ 100,000 | ||||||||||||||||||||||||||||||
| Term Loan A | American Assets Trust, L.P. | Interest Rate Swap | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Fixed interest rate on derivative | 4.13% | ||||||||||||||||||||||||||||||
| Senior Guaranteed Notes, Series A | American Assets Trust, L.P. | Forward Contracts | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Effective interest rate (percent) | 3.88% | ||||||||||||||||||||||||||||||
| Term Loan B | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | Mar. 01, 2023 | |||||||||||||||||||||||||||||
| Term Loan B | American Assets Trust, L.P. | Interest Rate Swap | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Fixed interest rate on derivative | 2.75% | 3.15% | |||||||||||||||||||||||||||||
| Term Loan C | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | Mar. 01, 2023 | |||||||||||||||||||||||||||||
| Term Loan C | American Assets Trust, L.P. | Interest Rate Swap | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Fixed interest rate on derivative | 2.74% | 3.14% | |||||||||||||||||||||||||||||
| 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 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. | Forward Contracts | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Effective interest rate (percent) | 4.18% | ||||||||||||||||||||||||||||||
| Senior Guaranteed Notes, Series G [Member] | American Assets Trust, L.P. | Forward Contracts | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Effective interest rate (percent) | 3.88% | ||||||||||||||||||||||||||||||
| Unsecured debt | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 1,200,000 | $ 1,050,000 | |||||||||||||||||||||||||||||
| Debt issuance costs, net | (4,220) | (4,137) | |||||||||||||||||||||||||||||
| Unsecured notes payable | 1,195,780 | 1,045,863 | |||||||||||||||||||||||||||||
| Debt issuance costs, accumulated amortization | 7,835 | 6,844 | |||||||||||||||||||||||||||||
| Unsecured debt | Term Loan A | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | |||||||||||||||||||||||||||||
| Stated Maturity Date | Jan. 09, 2021 | ||||||||||||||||||||||||||||||
| Number of extensions available | Extension_Option | 3 | ||||||||||||||||||||||||||||||
| Extension term (in months) | 1 year | ||||||||||||||||||||||||||||||
| Unsecured debt | Senior Guaranteed Notes, Series A | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 150,000 | 150,000 | |||||||||||||||||||||||||||||
| Stated Interest Rate | [1] | 4.04% | |||||||||||||||||||||||||||||
| Stated Maturity Date | Oct. 31, 2021 | ||||||||||||||||||||||||||||||
| Unsecured debt | Term Loan B | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | |||||||||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | ||||||||||||||||||||||||||||||
| Unsecured debt | Term Loan C | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 50,000 | 50,000 | |||||||||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | ||||||||||||||||||||||||||||||
| Unsecured debt | Senior Guaranteed Notes, Series F | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | |||||||||||||||||||||||||||||
| Stated Interest Rate | 3.78% | [2] | 3.78% | ||||||||||||||||||||||||||||
| Stated Maturity Date | Jul. 19, 2024 | ||||||||||||||||||||||||||||||
| Unsecured debt | Senior Guaranteed Notes, Series B | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | |||||||||||||||||||||||||||||
| Stated Interest Rate | 4.45% | ||||||||||||||||||||||||||||||
| Stated Maturity Date | Feb. 02, 2025 | ||||||||||||||||||||||||||||||
| Unsecured debt | Senior Guaranteed Notes, Series C | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | |||||||||||||||||||||||||||||
| Stated Interest Rate | 4.50% | ||||||||||||||||||||||||||||||
| Stated Maturity Date | Apr. 01, 2025 | ||||||||||||||||||||||||||||||
| Unsecured debt | Senior Guaranteed Notes, Series D | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 250,000 | 250,000 | |||||||||||||||||||||||||||||
| Stated Interest Rate | 4.29% | [3] | 4.29% | ||||||||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2027 | ||||||||||||||||||||||||||||||
| Unsecured debt | Senior Guaranteed Notes, Series E | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000 | 100,000 | |||||||||||||||||||||||||||||
| Stated Interest Rate | 4.24% | [4] | 4.24% | ||||||||||||||||||||||||||||
| Stated Maturity Date | May 23, 2029 | ||||||||||||||||||||||||||||||
| Unsecured debt | Senior Guaranteed Notes, Series G [Member] | American Assets Trust, L.P. | |||||||||||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 150,000 | $ 0 | |||||||||||||||||||||||||||||
| Stated Interest Rate | [5] | 3.91% | |||||||||||||||||||||||||||||
| Stated Maturity Date | Jul. 30, 2030 | ||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||
| X | ||||||||||
- Definition Debt Instrument, Extension Options No definition available.
|
| X | ||||||||||
- Definition Debt Instrument, Extension Term No definition available.
|
| X | ||||||||||
- Definition Amount of accumulated amortization of debt issuance costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Fixed interest rate related to the interest rate derivative. No definition available.
|
| X | ||||||||||
- Definition Amount of increase in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of decrease in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Period the derivative contract is outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Debt Scheduled Principal Payments on Notes Payable (Details) $ in Thousands |
Dec. 31, 2019
USD ($)
|
|---|---|
| Debt Disclosure [Abstract] | |
| 2019 | $ 51,003 |
| 2020 | 250,000 |
| 2021 | 111,000 |
| 2022 | 150,000 |
| 2023 | 100,000 |
| Thereafter | 700,000 |
| Notes payable, total | $ 1,362,003 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Debt (Details) |
12 Months Ended | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Jan. 09, 2019
Extension_Option
|
Jan. 09, 2018
USD ($)
Extension_Option
|
Apr. 25, 2017 |
May 02, 2016
USD ($)
|
Mar. 23, 2016 |
Mar. 01, 2016
USD ($)
|
Jan. 29, 2016 |
Oct. 31, 2014
USD ($)
|
Jan. 09, 2014
USD ($)
Extension_Option
|
Dec. 31, 2019
USD ($)
|
Dec. 31, 2018
USD ($)
|
Jul. 19, 2017
USD ($)
|
May 23, 2017
USD ($)
|
Mar. 01, 2017
USD ($)
|
||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Line of Credit Facility, Interest Rate During Period | 3.55% | ||||||||||||||||||||||
| Unsecured line of credit | $ 0 | $ 62,337,000 | |||||||||||||||||||||
| Unsecured notes payable | 1,195,780,000 | 1,045,863,000 | |||||||||||||||||||||
| Unsecured line of credit | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Maximum leverage ratio of revolving credit facility | 60.00% | ||||||||||||||||||||||
| Maximum secured leverage ratio on revolving credit facility | 40.00% | ||||||||||||||||||||||
| Minimum fixed charge coverage ratio covenant threshold | 1.5 | 1.5 | |||||||||||||||||||||
| Minimum interest coverage ratio covenant threshold | 175.00% | 175.00% | |||||||||||||||||||||
| Maximum unsecured leverage ratio (in percents) | 60.00% | ||||||||||||||||||||||
| Minimum tangible net worth | $ 721,160,000 | ||||||||||||||||||||||
| Percent of net proceeds of any additional equity issuances in relation to net proceeds as of Offering | 75.00% | ||||||||||||||||||||||
| Maximum recourse indebtedness of total asset value (in percents) | 15.00% | ||||||||||||||||||||||
| Percentage annual distributions cannot exceed funds from operations | 95.00% | ||||||||||||||||||||||
| Unsecured line of credit | Federal Funds Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.50% | 0.50% | |||||||||||||||||||||
| Unsecured line of credit | Eurodollar | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.00% | 1.00% | |||||||||||||||||||||
| Term Loan A | Unsecured debt | Federal Funds Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on federal funds rate | 0.50% | ||||||||||||||||||||||
| Term Loan A | Unsecured debt | Eurodollar | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on Eurodollar rate | 1.00% | ||||||||||||||||||||||
| Term Loan B | Unsecured debt | Federal Funds Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on federal funds rate | 0.50% | 0.50% | |||||||||||||||||||||
| Term Loan B | Unsecured debt | Eurodollar | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on Eurodollar rate | 0.10% | 1.00% | |||||||||||||||||||||
| Term Loan C | Unsecured debt | Federal Funds Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on federal funds rate | 0.50% | ||||||||||||||||||||||
| Term Loan C | Unsecured debt | Eurodollar | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on Eurodollar rate | 0.10% | ||||||||||||||||||||||
| American Assets Trust, L.P. | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Unsecured line of credit | 0 | 62,337,000 | |||||||||||||||||||||
| Unsecured notes payable | 1,195,780,000 | 1,045,863,000 | |||||||||||||||||||||
| American Assets Trust, L.P. | Unsecured line of credit | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Variable rate basis | base rate | ||||||||||||||||||||||
| American Assets Trust, L.P. | Unsecured line of credit | Revolving Credit Facility | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Number of extensions available | Extension_Option | 2 | ||||||||||||||||||||||
| Extension term (in months) | 6 months | ||||||||||||||||||||||
| American Assets Trust, L.P. | Unsecured debt | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Long-term Debt, Principal Balance | 1,200,000,000 | 1,050,000,000 | |||||||||||||||||||||
| Unsecured notes payable | $ 1,195,780,000 | 1,045,863,000 | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan A | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Unsecured notes payable | $ 100,000,000 | ||||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan A | Minimum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.20% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan A | Maximum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.70% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan A | Unsecured debt | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Stated Maturity Date | Jan. 09, 2021 | ||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000,000 | 100,000,000 | |||||||||||||||||||||
| Number of extensions available | Extension_Option | 3 | ||||||||||||||||||||||
| Extension term (in months) | 1 year | ||||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan A | Unsecured debt | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Variable rate basis | LIBOR | ||||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan A | Unsecured debt | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Prime rate | prime rate | ||||||||||||||||||||||
| Federal funds rate | federal funds rate | ||||||||||||||||||||||
| Eurodollar | Eurodollar | ||||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan A | Unsecured debt | Minimum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.20% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan A | Unsecured debt | Maximum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.70% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan B | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Number of year amortization schedule | 7 years | 7 years | |||||||||||||||||||||
| Face amount of debt | $ 100,000,000 | ||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | Mar. 01, 2023 | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan B | Minimum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.70% | 0.70% | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan B | Maximum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.35% | 1.35% | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan B | Unsecured debt | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Face amount of debt | $ 100,000,000 | ||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | ||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000,000 | 100,000,000 | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan B | Unsecured debt | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Variable rate basis | LIBOR | LIBOR | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan B | Unsecured debt | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Minimum base rate | 0.00% | 0.00% | |||||||||||||||||||||
| Prime rate | prime rate | prime rate | |||||||||||||||||||||
| Federal funds rate | federal funds rate | federal funds rate | |||||||||||||||||||||
| Eurodollar | Eurodollar | Eurodollar | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan B | Unsecured debt | Minimum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.20% | 1.70% | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan B | Unsecured debt | Maximum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.70% | 2.35% | |||||||||||||||||||||
| 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 C | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Number of year amortization schedule | 7 years | 7 years | |||||||||||||||||||||
| Face amount of debt | $ 50,000,000 | ||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | Mar. 01, 2023 | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan C | Minimum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.70% | 0.70% | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan C | Maximum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.35% | 1.35% | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan C | Unsecured debt | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Face amount of debt | $ 50,000,000 | ||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | ||||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 50,000,000 | 50,000,000 | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan C | Unsecured debt | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Variable rate basis | LIBOR | LIBOR | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan C | Unsecured debt | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Minimum base rate | 0.00% | 0.00% | |||||||||||||||||||||
| Prime rate | prime rate | prime rate | |||||||||||||||||||||
| Federal funds rate | federal funds rate | federal funds rate | |||||||||||||||||||||
| Eurodollar | Eurodollar | Eurodollar | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan C | Unsecured debt | Minimum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.20% | 1.70% | |||||||||||||||||||||
| American Assets Trust, L.P. | Term Loan C | Unsecured debt | Maximum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.70% | 2.35% | |||||||||||||||||||||
| 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 (in percent) | 5.00% | ||||||||||||||||||||||
| Full debt repayment percentage of principal plus a Make-Whole Amount (in percent) | 100.00% | ||||||||||||||||||||||
| 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. | 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 | Minimum | Revolving Credit Facility | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.35% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Maximum | Revolving Credit Facility | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.95% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Prime rate | prime rate | ||||||||||||||||||||||
| Federal funds rate | federal funds rate | ||||||||||||||||||||||
| Eurodollar | Eurodollar | ||||||||||||||||||||||
| 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 | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Variable rate basis | LIBOR | ||||||||||||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Minimum | Revolving Credit Facility | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.35% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Maximum | Revolving Credit Facility | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.95% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 100,000,000 | ||||||||||||||||||||||
| Number of extensions available | Extension_Option | 3 | ||||||||||||||||||||||
| Extension term (in months) | 12 months | ||||||||||||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt | Minimum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.30% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt | Minimum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.30% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt | Maximum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.90% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt | Maximum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.90% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Senior Guaranteed Notes, Series D | Unsecured debt | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Face amount of debt | $ 250,000,000 | ||||||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2027 | ||||||||||||||||||||||
| Stated Interest Rate | 4.29% | [1] | 4.29% | ||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 250,000,000 | 250,000,000 | |||||||||||||||||||||
| American Assets Trust, L.P. | Senior Guaranteed Notes, Series E | Unsecured debt | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Number of year amortization schedule | 12 years | ||||||||||||||||||||||
| Face amount of debt | $ 100,000,000 | ||||||||||||||||||||||
| Stated Maturity Date | May 23, 2029 | ||||||||||||||||||||||
| Stated Interest Rate | 4.24% | [2] | 4.24% | ||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 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 Maturity Date | Jul. 19, 2024 | ||||||||||||||||||||||
| Stated Interest Rate | 3.78% | [3] | 3.78% | ||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 100,000,000 | 100,000,000 | |||||||||||||||||||||
| American Assets Trust, L.P. | Senior Guaranteed Notes, Series G [Member] | Unsecured debt | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Stated Maturity Date | Jul. 30, 2030 | ||||||||||||||||||||||
| Stated Interest Rate | [4] | 3.91% | |||||||||||||||||||||
| Long-term Debt, Principal Balance | $ 150,000,000 | $ 0 | |||||||||||||||||||||
| 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] | |||||||||||||||||||||||
| Unsecured line of credit | 0 | ||||||||||||||||||||||
| Debt issuance costs, net, revolving credit facility | $ 1,300,000 | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Prime rate | prime rate | ||||||||||||||||||||||
| Federal funds rate | federal funds rate | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 350,000,000 | ||||||||||||||||||||||
| Number of extensions available | Extension_Option | 2 | ||||||||||||||||||||||
| Extension term (in months) | 6 months | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Variable rate basis | LIBOR | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Minimum | Revolving Credit Facility | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.05% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Minimum | Revolving Credit Facility | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.10% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Maximum | Revolving Credit Facility | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.50% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Maximum | Revolving Credit Facility | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 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 | Minimum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.30% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured debt | Minimum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.30% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured debt | Maximum | LIBOR | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 1.90% | ||||||||||||||||||||||
| American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured debt | Maximum | Base Rate | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Basis spread on variable rate (in percents) | 0.90% | ||||||||||||||||||||||
| Interest Rate Swap | American Assets Trust, L.P. | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Fixed interest rate on derivative | 3.08% | ||||||||||||||||||||||
| Interest Rate Swap | American Assets Trust, L.P. | Term Loan A | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Fixed interest rate on derivative | 4.13% | ||||||||||||||||||||||
| Interest Rate Swap | American Assets Trust, L.P. | Term Loan B | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Fixed interest rate on derivative | 2.75% | 3.15% | |||||||||||||||||||||
| Interest Rate Swap | American Assets Trust, L.P. | Term Loan C | |||||||||||||||||||||||
| Debt Instrument [Line Items] | |||||||||||||||||||||||
| Fixed interest rate on derivative | 2.74% | 3.14% | |||||||||||||||||||||
| |||||||||||||||||||||||
| X | ||||||||||
- Definition Debt Instrument, Extension Options No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Extension Term No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Partial Repayment, Minimum Percentage of Principal No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Prepayment, Percentage of Principal Plus a Stated Amount No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Spread on Variable Rate Basis, Three No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Spread on Variable Rate Basis, Two No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Variable Rate Basis, Four. No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Variable Rate Basis, One No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Variable Rate Basis, Three No definition available.
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| X | ||||||||||
- Definition Debt Instrument, Variable Rate Basis, Two No definition available.
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| X | ||||||||||
- Definition Maximum leverage percentage of revolving credit facility. No definition available.
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| X | ||||||||||
- Definition Line of Credit Facility, Allowable Additional Borrowing Capacity No definition available.
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| X | ||||||||||
- Definition Maximum Recourse Indebtedness of Total Asset Value No definition available.
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| X | ||||||||||
- Definition Maximum Secured Leverage Ratio On Revolving Credit Facility No definition available.
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| X | ||||||||||
- Definition Maximum Unsecured Leverage Ratio No definition available.
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| X | ||||||||||
- Definition Minimum Fixed Charge Coverage Ratio On Revolving Credit Facility No definition available.
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| X | ||||||||||
- Definition Minimum Tangible Net Worth No definition available.
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| X | ||||||||||
- Definition Minimum Unsecured Interest Coverage Ratio No definition available.
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| X | ||||||||||
- Definition Percentage limit on annual distributions in relation to funds from operations. No definition available.
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| X | ||||||||||
- Definition Percentage of net proceeds of additional equity Issuances covenant of credit facility. No definition available.
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| X | ||||||||||
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
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| X | ||||||||||
- Definition Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
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| X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition Amount, after accumulated amortization, of debt issuance costs related to line of credit arrangements. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Fixed interest rate related to the interest rate derivative. No definition available.
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| X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The effective interest rate during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Derivative and Hedging (Details) - USD ($) |
12 Months Ended | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jul. 17, 2019 |
Jun. 20, 2019 |
Jan. 09, 2018 |
Jun. 23, 2017 |
May 31, 2017 |
May 11, 2017 |
Apr. 25, 2017 |
Mar. 31, 2017 |
Jan. 18, 2017 |
May 02, 2016 |
Apr. 07, 2016 |
Mar. 29, 2016 |
Mar. 23, 2016 |
Mar. 01, 2016 |
Jan. 29, 2016 |
Sep. 19, 2014 |
Dec. 31, 2019 |
Dec. 31, 2018 |
May 23, 2017 |
|
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 1,300,000 | ||||||||||||||||||
| Derivative liabilities at fair value | (1,317,000) | $ (801,000) | |||||||||||||||||
| Derivative assets at fair value | $ 434,000 | $ 6,002,000 | |||||||||||||||||
| 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] | |||||||||||||||||||
| Fixed interest rate on derivative | 3.08% | ||||||||||||||||||
| Term of derivative contract | 7 years | 10 years | 10 years | 10 years | 7 years | ||||||||||||||
| American Assets Trust, L.P. | Forward Contracts | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Term of derivative contract | 1 month | ||||||||||||||||||
| Gain on derivatives | $ 500,000 | $ 700,000 | $ 10,400,000 | $ 1,600,000 | |||||||||||||||
| American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Notional amount | $ 50,000,000 | $ 100,000,000 | $ 100,000,000 | ||||||||||||||||
| Fixed interest rate on derivative | 1.441% | 1.4485% | 3.08% | ||||||||||||||||
| Term of derivative contract | 7 years | 7 years | |||||||||||||||||
| Maturity date | Mar. 31, 2027 | Mar. 31, 2027 | Mar. 01, 2023 | Mar. 01, 2023 | |||||||||||||||
| Effective date | Mar. 31, 2017 | Mar. 31, 2017 | May 02, 2016 | Mar. 01, 2016 | |||||||||||||||
| Loss recognized in other comprehensive income (loss) | $ 10,400,000 | ||||||||||||||||||
| American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Treasury Lock | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Notional amount | $ 100,000,000 | $ 100,000,000 | |||||||||||||||||
| Fixed interest rate on derivative | 2.064% | 2.313% | |||||||||||||||||
| Maturity date | Jul. 26, 2017 | ||||||||||||||||||
| Loss recognized in other comprehensive income (loss) | $ 500,000 | $ 700,000 | |||||||||||||||||
| Bank of America, N.A. | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap, 1/9/2021 | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Notional amount | $ 100,000,000 | ||||||||||||||||||
| Maturity date | Jan. 09, 2021 | ||||||||||||||||||
| Effective date | Jan. 09, 2019 | ||||||||||||||||||
| Derivative liabilities at fair value | $ (1,317,000) | ||||||||||||||||||
| U.S. Bank N.A. | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap, 3/1/2023 | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Notional amount | $ 100,000,000 | ||||||||||||||||||
| Maturity date | Mar. 01, 2023 | ||||||||||||||||||
| Effective date | Mar. 01, 2016 | ||||||||||||||||||
| Derivative assets at fair value | $ 279,000 | ||||||||||||||||||
| 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 | Treasury Lock | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Notional amount | $ 100,000,000 | ||||||||||||||||||
| Fixed interest rate on derivative | 1.9925% | ||||||||||||||||||
| Term of derivative contract | 10 years | ||||||||||||||||||
| Maturity date | Jul. 31, 2019 | ||||||||||||||||||
| Amortization Period of Deferred Gain (Loss) on Discontinuation of Fair Value Hedge | 10 years | ||||||||||||||||||
| Wells Fargo Bank, N.A. | American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap, 3/1/2023 | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Notional amount | $ 50,000,000 | ||||||||||||||||||
| Maturity date | Mar. 01, 2023 | ||||||||||||||||||
| Effective date | May 02, 2016 | ||||||||||||||||||
| Derivative assets at fair value | $ 155,000 | ||||||||||||||||||
| Term Loan B | American Assets Trust, L.P. | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | Mar. 01, 2023 | |||||||||||||||||
| Face amount of debt | $ 100,000,000 | ||||||||||||||||||
| Number of year amortization schedule | 7 years | 7 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 | 2.75% | 3.15% | |||||||||||||||||
| Term Loan C | American Assets Trust, L.P. | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | Mar. 01, 2023 | |||||||||||||||||
| Face amount of debt | $ 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 | 2.74% | 3.14% | |||||||||||||||||
| Unsecured debt | American Assets Trust, L.P. | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Number of year amortization schedule | 10 years | ||||||||||||||||||
| Term Loan A | American Assets Trust, L.P. | Interest Rate Swap | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Fixed interest rate on derivative | 4.13% | ||||||||||||||||||
| Unsecured debt | Term Loan B | American Assets Trust, L.P. | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | ||||||||||||||||||
| Face amount of debt | $ 100,000,000 | ||||||||||||||||||
| Unsecured debt | Term Loan C | American Assets Trust, L.P. | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Stated Maturity Date | Mar. 01, 2023 | ||||||||||||||||||
| 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] | |||||||||||||||||||
| Stated Maturity Date | May 23, 2029 | ||||||||||||||||||
| Face amount of debt | $ 100,000,000 | ||||||||||||||||||
| Number of year amortization schedule | 12 years | ||||||||||||||||||
| Unsecured debt | Term Loan A | American Assets Trust, L.P. | |||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||||||||||||||||
| Stated Maturity Date | Jan. 09, 2021 |
| X | ||||||||||
- Definition Period when adjustments to the carrying value of an interest-bearing hedged item are amortized upon discontinuation of the fair value hedge, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
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- Definition The estimated net amount of existing gains or losses on cash flow hedges at the reporting date expected to be reclassified to earnings within the next 12 months. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Fixed interest rate related to the interest rate derivative. No definition available.
|
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- Definition Amount of increase in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Date the entity entered into the derivative contract, in CCYY-MM-DD format. No definition available.
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
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- Definition Date the derivative contract matures, in CCYY-MM-DD format. No definition available.
|
| X | ||||||||||
- Definition Nominal or face amount used to calculate payment on derivative. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Period the derivative contract is outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
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- Definition Fair value as of the balance sheet date of interest rate derivative assets, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as assets. No definition available.
|
| X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. No definition available.
|
| X | ||||||||||
- Definition Amount before tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Partners Capital of American Assets Trust, L.P. (Details) - shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Common Stock | |||
| Capital Unit [Line Items] | |||
| Conversion of operating partnership units (in shares) | 787,060 | 17,372 | 693,842 |
| American Assets Trust, L.P. | |||
| Capital Unit [Line Items] | |||
| Ownership percent by parent | 78.50% | ||
| American Assets Trust, L.P. | |||
| Capital Unit [Line Items] | |||
| Noncontrolling common units (in shares) | 16,390,548 | ||
| American Assets Trust, L.P. | Common Stock | |||
| Capital Unit [Line Items] | |||
| Conversion of operating partnership units (in shares) | 787,060 | 17,372 | 693,842 |
| Non-Affiliated Investors | American Assets Trust, L.P. | |||
| Capital Unit [Line Items] | |||
| Percentage of ownership interests classified as noncontrolling | 21.50% | ||
| X | ||||||||||
- Definition Shares held by minority interest in Operating partnerships. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
- Definition The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
| X | ||||||||||
- Definition The number of shares issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Equity of American Assets Trust, Inc. (Details) |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Jun. 14, 2019
USD ($)
shares
|
May 27, 2015
USD ($)
Agent
|
May 06, 2013
USD ($)
Agent
|
Dec. 31, 2019
USD ($)
$ / shares
shares
|
Dec. 31, 2018
USD ($)
shares
|
Dec. 31, 2017
USD ($)
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 | |||||
| Preferred stock, shares outstanding (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) | 2,422,181 | |||||
| Noncash compensation expense | $ | $ 4,500,000 | $ 3,000,000.0 | $ 4,700,000 | |||
| Unrecognized compensation expense | $ | 7,100,000 | |||||
| Weighted average unvested shares outstanding (in shares) | 230,602 | |||||
| Proceeds from issuance of common stock, net | $ | $ 472,600,000 | $ 515,354,000 | $ (236,000) | $ 29,873,000 | ||
| Common stock, shares issued | 10,925,000 | |||||
| Option Indexed to Issuer's Equity, Indexed Shares | 1,425,000 | |||||
| American Assets Trust, L.P. | ||||||
| Equity [Line Items] | ||||||
| Antidilutive securities excluded from computation of EPS (in shares) | 330,197 | 271,905 | 230,602 | |||
| Restricted Stock | ||||||
| Equity [Line Items] | ||||||
| Unrecognized compensation expense, weighted-average recognition period (in years) | 1 year 7 months 6 days | |||||
| At The Market Equity Program | ||||||
| Equity [Line Items] | ||||||
| Aggregate offering price of common share | $ | $ 250,000,000.0 | $ 150,000,000.0 | ||||
| Common shares issued (in shares) | 946,552 | |||||
| Remaining capacity available for issuance | $ | $ 132,600,000 | |||||
| Common Stock Issued During Period, Weighted Price per Share | $ / shares | $ 46.04 | |||||
| Proceeds from Issuance of Common Stock, Gross | $ | $ 43,600,000 | |||||
| $150.0 Million ATM | At The Market Equity Program | ||||||
| Equity [Line Items] | ||||||
| Number of sales agents | Agent | 4 | |||||
| $250.0 Million ATM | At The Market Equity Program | ||||||
| Equity [Line Items] | ||||||
| Number of sales agents | Agent | 5 | |||||
| Commissions | At The Market Equity Program | ||||||
| Equity [Line Items] | ||||||
| Payments of Stock Issuance Costs | $ | 400,000 | |||||
| Other Offering Costs | At The Market Equity Program | ||||||
| Equity [Line Items] | ||||||
| Payments of Stock Issuance Costs | $ | $ 500,000 | |||||
| Operating Partnership Units | American Assets Trust, L.P. | ||||||
| Equity [Line Items] | ||||||
| Weighted average unvested shares outstanding (in shares) | 330,197 | 271,905 | ||||
| X | ||||||||||
- Definition Maximum aggregate offering price of common shares. No definition available.
|
| X | ||||||||||
- Definition Common Stock Issued During Period, Weighted Price per Share No definition available.
|
| X | ||||||||||
- Definition Equity [Line Items] No definition available.
|
| X | ||||||||||
- Definition Number of Sales Agents No definition available.
|
| X | ||||||||||
- Definition Proceeds from issuance of common stock before sales agent commission and offering costs No definition available.
|
| X | ||||||||||
- Definition Remaining $ Capacity Of Shares To Issue No definition available.
|
| X | ||||||||||
- Definition Weighted average unvested participating securities outstanding. No definition available.
|
| X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Weighted-average period over which cost not yet recognized is expected to be recognized for award under share-based payment arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of cost to be recognized for nonvested award under share-based payment arrangement. Excludes share and unit options. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The number of issuer's shares to which the option contract is indexed. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
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- Definition Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
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- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of noncash expense for award of restricted stock or unit under share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of shares authorized for issuance under share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Equity of American Assets Trust, Inc. Dividends Declared and Paid on Shares of Common Stock and Noncontrolling Common Units (Details) - $ / shares |
3 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Equity [Abstract] | |||||||||||||||
| Dividends period | Fourth Quarter 2019 | Third Quarter 2019 | Second Quarter 2019 | First Quarter 2019 | Fourth Quarter 2018 | Third Quarter 2018 | Second Quarter 2018 | First Quarter 2018 | Fourth Quarter 2017 | Third Quarter 2017 | Second Quarter 2017 | First Quarter 2017 | |||
| Amount per Share/Unit (in USD per unit) | $ 0.30 | $ 0.28 | $ 0.28 | $ 0.28 | $ 0.28 | $ 0.27 | $ 0.27 | $ 0.27 | $ 0.27 | $ 0.26 | $ 0.26 | $ 0.26 | $ 1.14 | $ 1.09 | $ 1.05 |
| Date dividend to be paid | Dec. 26, 2019 | Sep. 26, 2019 | Jun. 27, 2019 | Mar. 28, 2019 | Dec. 27, 2018 | Sep. 27, 2018 | Jun. 28, 2018 | Mar. 19, 2018 | Dec. 21, 2017 | Sep. 28, 2017 | Jun. 29, 2017 | Mar. 30, 2017 | |||
| X | ||||||||||
- Definition Dividends date paid. No definition available.
|
| X | ||||||||||
- Definition Dividends quarterly period. No definition available.
|
| X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
Equity of American Assets Trust, Inc. Summary of Income Tax Status of Dividends Per Share Paid (Details) - $ / shares |
3 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Equity [Abstract] | |||||||||||||||
| Ordinary income (in USD per share) | $ 1.09 | $ 1.05 | $ 1.05 | ||||||||||||
| Capital gain (in USD per share) | 0 | 0 | 0 | ||||||||||||
| Return of capital (in USD per share) | 0.05 | 0.04 | 0 | ||||||||||||
| Total (in USD per share) | $ 0.30 | $ 0.28 | $ 0.28 | $ 0.28 | $ 0.28 | $ 0.27 | $ 0.27 | $ 0.27 | $ 0.27 | $ 0.26 | $ 0.26 | $ 0.26 | $ 1.14 | $ 1.09 | $ 1.05 |
| Ordinary income | 95.60% | 96.30% | 100.00% | ||||||||||||
| Capital gain | 0.00% | 0.00% | 0.00% | ||||||||||||
| Return of capital | 4.40% | 3.70% | 0.00% | ||||||||||||
| Total | 100.00% | 100.00% | 100.00% | ||||||||||||
| X | ||||||||||
- Definition Capital Gain, Dividends, Per Share No definition available.
|
| X | ||||||||||
- Definition Capital Gain, Dividends, Percentage No definition available.
|
| X | ||||||||||
- Definition Common Stock, Dividend Rate, Percentage No definition available.
|
| X | ||||||||||
- Definition Ordinary Income, Dividends, Per Share No definition available.
|
| X | ||||||||||
- Definition Ordinary Income, Dividends, Percentage No definition available.
|
| X | ||||||||||
- Definition Return of Capital, Dividends, Per Share No definition available.
|
| X | ||||||||||
- Definition Return of Capital Dividends Percentage No definition available.
|
| X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
Equity of American Assets Trust, Inc. Restricted Common Stock Issued (Details) - Restricted Stock - $ / shares |
Dec. 09, 2019 |
Jun. 11, 2019 |
[1] | Dec. 06, 2018 |
Jun. 12, 2018 |
[1] | Dec. 15, 2017 |
Jun. 13, 2017 |
[1] | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
| Award vesting percentage | 33.30% | 33.30% | 33.30% | |||||||||||||||||
| Granted, Weighted Average Grant Date Fair Value (in USD per share) | $ 45.35 | $ 37.58 | $ 27.27 | [2] | $ 40.99 | |||||||||||||||
| Granted, Shares | 168,596 | [3] | 4,412 | 199,790 | [4] | 5,320 | 145,218 | [2] | 4,880 | |||||||||||
| Minimum | ||||||||||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
| Granted, Weighted Average Grant Date Fair Value (in USD per share) | $ 28.06 | [3] | $ 25.68 | [4] | ||||||||||||||||
| Maximum | ||||||||||||||||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||||||||
| Granted, Weighted Average Grant Date Fair Value (in USD per share) | $ 30.97 | [3] | $ 28.18 | [4] | ||||||||||||||||
| ||||||||||||||||||||
| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Percentage of vesting of award under share-based payment arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Equity of American Assets Trust, Inc. Summary of Activity of Restricted Stock Awards (Details) - Restricted Stock Units (RSUs) |
12 Months Ended |
|---|---|
|
Dec. 31, 2019
$ / shares
shares
| |
| Nonvested, Number of Shares | |
| Nonvested, Beginning, Shares | shares | 342,093 |
| Granted, Shares | shares | 173,008 |
| Vested, Shares | shares | (99,304) |
| Forfeited, Shares | shares | (70,644) |
| Nonvested, Ending, Shares | shares | 345,153 |
| Nonvested, Weighted Average Grant Date Fair Value | |
| Nonvested, Beginning, Weighted Average Grant Date Fair Value (in USD per Share) | $ / shares | $ 28.33 |
| Granted, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares | 29.99 |
| Vested, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares | 28.23 |
| Forfeited, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares | 30.44 |
| Nonvested, End of Year, Weighted Average Grant Date Fair Value (in USD per Share) | $ / shares | $ 28.75 |
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Per share or unit weighted-average fair value of nonvested award under share-based payment arrangement. Excludes share and unit options. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
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, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| NUMERATOR | |||||||||||
| Net income from operations | $ 60,188 | $ 27,202 | $ 40,132 | ||||||||
| Less: Net income attributable to restricted shares | $ (104) | $ (92) | $ (92) | $ (93) | $ (96) | $ (71) | $ (216) | $ 72 | (381) | (311) | (241) |
| Less: Income attributable to unitholders in the Operating Partnership | 14,089 | 7,205 | 10,814 | ||||||||
| NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS | $ 12,845 | $ 12,862 | $ 8,916 | $ 11,095 | $ 6,673 | $ 10,394 | $ 3,072 | $ (453) | 45,718 | 19,686 | 29,077 |
| Income attributable to American Assets Trust, Inc. common stockholders—basic | 45,718 | 19,686 | 29,077 | ||||||||
| Plus: Income attributable to unitholders in the Operating Partnership | (14,089) | (7,205) | (10,814) | ||||||||
| Net income attributable to common stockholders-diluted | $ 59,807 | $ 26,891 | $ 39,891 | ||||||||
| DENOMINATOR | |||||||||||
| Weighted average shares of common stock outstanding-basic (in shares) | 54,110,949 | 46,950,812 | 46,715,520 | ||||||||
| Effect of dilutive securities-conversion of Operating Partnership units (in shares) | 16,675,183 | 17,185,747 | 17,371,730 | ||||||||
| Weighted average common shares outstanding - diluted (in shares) | 70,786,132 | 64,136,559 | 64,087,250 | ||||||||
| Earnings (loss) per common share-basic | |||||||||||
| Basic net income attributable to common stockholders per share (in dollars per share) | $ 0.84 | $ 0.42 | $ 0.62 | ||||||||
| Earnings (loss) per common share-diluted | |||||||||||
| Diluted net income attributable to common stockholders per share (in dollars per share) | $ 0.84 | $ 0.42 | $ 0.62 | ||||||||
| X | ||||||||||
- Definition Computation of basic and diluted earnings per share denominator. No definition available.
|
| X | ||||||||||
- Definition Computation of basic and diluted earnings per share numerator. No definition available.
|
| X | ||||||||||
- Definition Incremental common shares attributable to conversion of Operating partnership units. No definition available.
|
| X | ||||||||||
- Definition Minority interest in continuing operations income (loss) Operating partnerships. No definition available.
|
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Income Taxes (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Income Tax Disclosure [Abstract] | ||
| Deferred tax liabilities | $ 332 | $ 93 |
| X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
Income Taxes Income Tax Provision Included in Other Income Expense on Consolidated Statement of Operations (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Income Statement [Abstract] | |||
| Federal | $ 48 | $ 60 | $ 0 |
| State | 625 | 465 | 422 |
| Federal | 237 | (6) | 0 |
| State | (91) | (192) | (208) |
| Provision for income taxes | $ 819 | $ 327 | $ 214 |
| X | ||||||||||
- Definition Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
Commitments and Contingencies (Details) $ in Millions |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2019
USD ($)
Property
mo
Customer
|
Dec. 31, 2018 |
|
| Commitment And Contingencies [Line Items] | ||
| Termination payment, as high as | $ | $ 7.6 | |
| Transfer taxes accrued in connection with the Offering | $ | $ 6.6 | |
| Maximum percentage of total revenue provided by any single tenant | 10.00% | 10.00% |
| Southern California | ||
| Commitment And Contingencies [Line Items] | ||
| Number of consolidated properties located in Southern California | Property | 15 | |
| Total Revenue | Southern California | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 37.60% | |
| Total Revenue | Hawaii | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 17.30% | |
| Rental Income | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 13.90% | |
| Number of tenants that comprise 13.9% of total annualized based rent | Customer | 3 | |
| Total Revenues | Retail industry | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 29.30% | 31.90% |
| Total Revenues | Office industry | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 39.50% | 34.00% |
| Base Rent | LPL Holdings, LLC | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 7.50% | |
| Alamo Quarry Market and Waikele Center | Total Revenue | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 10.00% | 11.70% |
| Maximum | Tenants | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 2.00% | |
| Maximum | Del Monte Center | Ground Water Contamination | ||
| Commitment And Contingencies [Line Items] | ||
| Environmental remediation monitoring period | 7 years | |
| Minimum | Del Monte Center | Ground Water Contamination | ||
| Commitment And Contingencies [Line Items] | ||
| Environmental remediation monitoring period | 5 years | |
| Waikiki Beach Walk - Retail | ||
| Commitment And Contingencies [Line Items] | ||
| Property management fee, percent | 3.00% | |
| Outrigger Hotels | ||
| Commitment And Contingencies [Line Items] | ||
| Property management fee, percent | 6.00% | |
| Number of calendar months termination fee is based | 2 months | |
| Maximum percentage of hotel's fiscal year gross revenues paid for aggregate yearly management fee | 3.50% | |
| Previous months of management fees | 12 months | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in first 11 years of term | 8 | |
| Years in hotel management agreement term | 11 years | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in twelfth year of term | 4 | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in thirteenth year of term | 3 | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in fourteenth year of term | 2 | |
| Hotel management agreement default penalty factor of previous twelve months of management fees in fifteenth year of term | 1 | |
| Outrigger Hotels | 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 | 3.00% | |
| Wbw Hotel Lessee Llc | ||
| Commitment And Contingencies [Line Items] | ||
| Years of contract | 20 years | |
| Percentage of hotel occupancy gross revenue paid for program fee | 4.00% | |
| Wbw Hotel Lessee Llc | Future Time Period Prior to 12-31-2021 | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of hotel occupancy gross revenue paid for franchise royalty fee | 4.00% | |
| Wbw Hotel Lessee Llc | Future Time Period After 12-31-2021 | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of hotel occupancy gross revenue paid for franchise royalty fee | 5.00% | |
| X | ||||||||||
- Definition Calendar months. No definition available.
|
| X | ||||||||||
- Definition Commitment And Contingencies [Line Items] No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in first eleven years of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in fourteenth year of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in thirteenth year of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in twelfth year of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty factor of previous twelve months of Management fees in fifteenth year of term. No definition available.
|
| X | ||||||||||
- Definition Maximum percentage of hotels fiscal year gross revenues paid for aggregate yearly Management fee. No definition available.
|
| X | ||||||||||
- Definition Maximum percentage of revenue provided by any single tenant. No definition available.
|
| X | ||||||||||
- Definition Number of consolidated properties. No definition available.
|
| X | ||||||||||
- Definition Number Of Major Customer No definition available.
|
| X | ||||||||||
- Definition Percentage of hotel occupancy gross revenue paid for franchise royalty fee. No definition available.
|
| X | ||||||||||
- Definition Percentage of hotel occupancy gross revenue paid for program fee. No definition available.
|
| X | ||||||||||
- Definition The previous months management fees used in the calculation of the management cancellation fee. No definition available.
|
| X | ||||||||||
- Definition Site Contingency, Environmental Remediation Monitoring Period No definition available.
|
| X | ||||||||||
- Definition Term period for termination of agreement. No definition available.
|
| X | ||||||||||
- Definition Transfer Taxes Liability No definition available.
|
| X | ||||||||||
- Definition Years in hotel management agreement term. No definition available.
|
| X | ||||||||||
- Definition Years of contract. No definition available.
|
| X | ||||||||||
- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The amount of the loss on termination of a contract for default. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The percentage charged for managing real estate properties. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
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LEASES - Narrative (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2019
state
lease
| |
| Lessor, Lease, Description [Line Items] | |
| Years, minimum term range of office and retail leases | 3 years |
| Years, maximum term range of office and retail leases | 10 years |
| Months, minimum term of apartment leases | 7 months |
| Months, maximum term of apartment leases | 15 months |
| Operating leases rental period terms | 12 months |
| Number Of States | state | 5 |
| Minimum | |
| Lessor, Lease, Description [Line Items] | |
| Lease extension option period | 3 years |
| Lease extension options exercise period | 6 months |
| Maximum | |
| Lessor, Lease, Description [Line Items] | |
| Lease extension option period | 10 years |
| Lease extension options exercise period | 12 months |
| The Land Mark at One Market | |
| Lessor, Lease, Description [Line Items] | |
| Number of lease extension options | 2 |
| Lease extension option exercise period | 5 years |
| Retail Or Office | |
| Lessor, Lease, Description [Line Items] | |
| Number of leases | 861 |
| Residential Property | |
| Lessor, Lease, Description [Line Items] | |
| Number of leases | 1,849 |
| X | ||||||||||
- Definition The period which lease extension options can be exercisable. No definition available.
|
| X | ||||||||||
- Definition Months maximum term length of apartment leases. No definition available.
|
| X | ||||||||||
- Definition Months minimum term of apartment leases. No definition available.
|
| X | ||||||||||
- Definition Number of lease extension options. No definition available.
|
| X | ||||||||||
- Definition Number Of States No definition available.
|
| X | ||||||||||
- Definition Number of Leases No definition available.
|
| X | ||||||||||
- Definition Operating Leases Rental Period Terms No definition available.
|
| X | ||||||||||
- Definition Years lease extension option length. No definition available.
|
| X | ||||||||||
- Definition Years maximum term range of office and retail leases. No definition available.
|
| X | ||||||||||
- Definition Years minimum term range of office and retail leases. No definition available.
|
| X | ||||||||||
- Definition Term of lessee's operating lease renewal, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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- Details
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LEASES - Minimum Future Rentals from Noncancelable Operating Leases (Details) $ in Thousands |
Dec. 31, 2019
USD ($)
|
|---|---|
| Leases [Abstract] | |
| 2020 | $ 216,969 |
| 2021 | 212,728 |
| 2022 | 196,345 |
| 2023 | 175,686 |
| 2024 | 146,164 |
| Thereafter | 523,183 |
| Total | $ 1,471,075 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of lease payments to be received by lessor for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lease payments to be received by lessor in fifth fiscal year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lease payments to be received by lessor in fourth year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lease payments to be received by lessor in remainder of fiscal year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of lease payments to be received by lessor after fifth fiscal year following latest statement of financial position date for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lease payments to be received by lessor in third fiscal year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lease payments to be received by lessor in second fiscal year following latest fiscal year for operating lease. Excludes interim and annual periods when interim periods are reported on rolling approach, from latest statement of financial position date. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
LEASES - Lease Obligations - Minimum Future Rental Payments from Operating Leases (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Dec. 31, 2018 |
|---|---|---|
| Leases [Abstract] | ||
| 2020 | $ 3,422 | |
| 2021 | 2,153 | |
| 2022 | 0 | |
| 2023 | 0 | |
| 2024 | 0 | |
| Thereafter | 0 | |
| Total lease payments | 5,575 | |
| Imputed interest | (195) | |
| Present value of lease liability | $ 5,380 | $ 0 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due after fifth fiscal year following latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in fifth fiscal year following latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in fourth fiscal year following latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in third fiscal year following latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease, due in second fiscal year following latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments for operating lease having an initial or remaining lease term in excess of one year due in remainder of fiscal year following latest fiscal year. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Present value of lessee's discounted obligation for lease payments from operating lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
LEASES - Lease Costs & Additional Lease Information (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2019
USD ($)
| |
| Leases [Abstract] | |
| Operating lease cost | $ 3,334 |
| Variable lease cost | 0 |
| Sublease income | (3,098) |
| Lease cost | $ 236 |
| Weighted-average remaining lease term - operating leases (in years) | 1 year 8 months 12 days |
| Weighted-average discount rate - operating leases (as a percent) | 4.13% |
| X | ||||||||||
- Definition Amount of lease cost recognized by lessee for lease contract. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of single lease cost, calculated by allocation of remaining cost of lease over remaining lease term. Includes, but is not limited to, single lease cost, after impairment of right-of-use asset, calculated by amortization of remaining right-of-use asset and accretion of lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Weighted average discount rate for operating lease calculated at point in time. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Weighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of sublease income excluding finance and operating lease expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of variable lease cost, excluded from lease liability, recognized when obligation for payment is incurred for finance and operating leases. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
LEASES - Supplemental Lease Information (Details) $ in Thousands |
12 Months Ended |
|---|---|
|
Dec. 31, 2019
USD ($)
| |
| Operating cash flow information: | |
| Cash paid for amounts included in the measurement of lease liabilities | $ 3,347 |
| Non-cash activity: | |
| Right-of-use assets obtained in exchange for operating lease obligations | $ 7,661 |
| X | ||||||||||
- Definition Non-Cash Activity [Abstract] No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of cash outflow from operating lease, excluding payments to bring another asset to condition and location necessary for its intended use. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of increase in right-of-use asset obtained in exchange for operating lease liability. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
Component of Rental Income and Expense (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Operating Leases, Income Statement, Lease Revenue [Abstract] | |||
| Recognition of straight-line rents | $ 3.2 | $ (2.4) | $ (0.8) |
| Recognition of amortization of above and below market leases | $ 3.8 | $ 3.6 | $ 3.3 |
| X | ||||||||||
- Definition Amount of non-cash amortization of intangible asset (liability) for above and below market leases. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Difference between actual rental income due and rental income recognized on a straight-line basis. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Component of Rental Income and Expense Components of Rental Income (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Rental Income [Line Items] | |||
| Cost reimbursement | $ 0 | $ 34,584 | $ 34,267 |
| Percentage rent | 2,476 | 3,149 | 3,214 |
| Hotel revenue | 40,297 | 40,049 | 39,545 |
| Other | 2,223 | 1,611 | 1,667 |
| Total rental income | 343,865 | 309,537 | 298,803 |
| Total Retail | |||
| Rental Income [Line Items] | |||
| Minimum rents | 99,601 | 77,147 | 76,201 |
| Total Office | |||
| Rental Income [Line Items] | |||
| Minimum rents | 136,118 | 95,081 | 93,128 |
| Total Multifamily | |||
| Rental Income [Line Items] | |||
| Minimum rents | 47,448 | 46,897 | 40,217 |
| Total Mixed-Use | |||
| Rental Income [Line Items] | |||
| Minimum rents | $ 15,702 | $ 11,019 | $ 10,564 |
| X | ||||||||||
- Definition Other real estate rental revenue. No definition available.
|
| X | ||||||||||
- Definition Rental Income [Line Items] No definition available.
|
| X | ||||||||||
- Definition In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses. No definition available.
|
| X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
| X | ||||||||||
- Definition The total amount of lease revenue recognized for the period for which the lessee was obligated under leasing arrangements regardless of any other events or conditions. This amount excludes contingent revenue and sublease revenue. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
| X | ||||||||||
- Definition This element represents the rental revenue earned during the period from lessee-operators based on revenues generated in their operations, generally in excess of a base amount. Such rental revenue is generally stipulated in the lease agreement, usually will provide for a fixed percentage of revenue to be paid as additional (or possibly only) rent due the lessor, and may be based on gross revenues, net revenues, or multiple variations thereof. Percentage rent is often required under leases with retail outlets located on premises owned by hoteliers, cruise lines, others in the hospitality industry, and shopping mall operators, among others. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Component of Rental Income and Expense Components of Rental Expenses (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Operating Leases, Income Statement, Lease Revenue [Abstract] | |||
| Rental operating | $ 38,331 | $ 37,322 | $ 34,944 |
| Hotel operating | 24,522 | 24,030 | 24,254 |
| Repairs and maintenance | 17,035 | 13,486 | 13,136 |
| Marketing | 2,538 | 2,108 | 2,053 |
| Rent | 3,372 | 3,216 | 3,119 |
| Hawaii excise tax | 4,160 | 4,333 | 4,454 |
| Management fees | 2,009 | 1,987 | 2,046 |
| Total rental expenses | $ 91,967 | $ 86,482 | $ 84,006 |
| X | ||||||||||
- Definition Other operating costs incurred during the reporting period and may include amounts paid to maintain the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The amount of excise and sales taxes included in sales and revenues, which are then deducted as a cost of sales. Includes excise taxes, which are applied to specific types of transactions or items (such as gasoline or alcohol); and sales, use and value added taxes, which are applied to a broad class of revenue-producing transactions involving a wide range of goods and services. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
|
| X | ||||||||||
- Definition Amount of expenses related to the managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
| X | ||||||||||
- Definition Other costs incurred during the reporting period related to other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Other Income (Expenses) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Other Income and Expenses [Abstract] | |||
| Interest and investment income | $ 696 | $ 238 | $ 548 |
| Income tax expense | (819) | (327) | (214) |
| Other non-operating income | 1 | 4 | 0 |
| Total other income (expense) | $ (122) | $ (85) | $ 334 |
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of income related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
Related Party Transactions (Details) - USD ($) $ in Thousands |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Mar. 01, 2019 |
Jul. 01, 2017 |
Jul. 01, 2016 |
Jul. 01, 2015 |
Jul. 01, 2014 |
|
| Related Party Transaction [Line Items] | ||||||||
| Total rental income | $ 343,865 | $ 309,537 | $ 298,803 | |||||
| Investment in WBW CHP LLC, in percentage | 47.70% | |||||||
| WBW CHP LLC | ||||||||
| Related Party Transaction [Line Items] | ||||||||
| Recovered reimbursements of operating expenses of WBW CHP LLC | $ 1,100 | $ 1,100 | $ 1,000 | |||||
| Common Stock | ||||||||
| Related Party Transaction [Line Items] | ||||||||
| Common shares issued (in shares) | 11,871,552 | 0 | 700,000 | |||||
| Insurance Company of the West, Inc. | Board of Directors Chairman | ||||||||
| Related Party Transaction [Line Items] | ||||||||
| Total rental income | $ 0 | $ 100 | $ 100 | |||||
| Prepaid insurance | $ 200 | $ 200 | $ 200 | $ 400 | ||||
| American Assets, Inc. | Board of Directors Chairman | ||||||||
| Related Party Transaction [Line Items] | ||||||||
| Total rental income | 200 | 100 | ||||||
| Lessor, Operating Lease, Term of Contract | 3 years | |||||||
| EDisability, LLC | Board of Directors Chairman | ||||||||
| Related Party Transaction [Line Items] | ||||||||
| Total rental income | 200 | 100 | ||||||
| AAI Aviation, Inc. | Board of Directors Chairman | ||||||||
| Related Party Transaction [Line Items] | ||||||||
| Aviation expense | $ 200 | $ 100 | $ 100 | |||||
| Insurance Company of the West, Inc. | Board of Directors Chairman | ||||||||
| Related Party Transaction [Line Items] | ||||||||
| Percentage of ownership interests classified as noncontrolling | 32.00% | |||||||
| Insurance Company of the West, Inc. | Common Stock | Board of Directors Chairman | ||||||||
| Related Party Transaction [Line Items] | ||||||||
| Percentage of ownership interests classified as noncontrolling | 12.60% | |||||||
| Insurance Company of the West, Inc. | Member Units | Board of Directors Chairman | ||||||||
| Related Party Transaction [Line Items] | ||||||||
| Percentage of ownership interests classified as noncontrolling | 19.50% | |||||||
| X | ||||||||||
- Definition Amount recovered for reimbursements of operating expense for related party. No definition available.
|
| X | ||||||||||
- Definition Percentage of investment in related party. No definition available.
|
| X | ||||||||||
- Definition Term of lessor's operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
|
| X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for insurance that provides economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Segment Reporting (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2019
Segment
Room
| |
| Segment Reporting [Abstract] | |
| Number of operating segments | Segment | 4 |
| Rooms in mixed-use segment all-suite hotel | Room | 369 |
| X | ||||||||||
- Definition Number of rooms in mixed use segment all suite hotel. No definition available.
|
| X | ||||||||||
- Definition Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
- References No definition available.
|
Segment Reporting Operating Activity Within Reportable Segments (Detail) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Segment Reporting Information [Line Items] | |||||||||||
| Operating income (loss) | $ 29,993 | $ 30,384 | $ 24,487 | $ 28,821 | $ 22,091 | $ 27,275 | $ 17,249 | $ 12,920 | $ 113,685 | $ 79,535 | $ 93,646 |
| Total segments' profit | 234,761 | 209,412 | 198,306 | ||||||||
| Total Retail | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Property revenue | 107,604 | 105,552 | 103,968 | ||||||||
| Property expense | (30,633) | (30,078) | (28,524) | ||||||||
| Operating income (loss) | 76,971 | 75,474 | 75,444 | ||||||||
| Total Office | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Property revenue | 144,683 | 112,362 | 105,694 | ||||||||
| Property expense | (42,234) | (33,860) | (33,120) | ||||||||
| Operating income (loss) | 102,449 | 78,502 | 72,574 | ||||||||
| Total Multifamily | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Property revenue | 51,066 | 50,627 | 43,533 | ||||||||
| Property expense | (20,863) | (20,441) | (17,898) | ||||||||
| Operating income (loss) | 30,203 | 30,186 | 25,635 | ||||||||
| Total Mixed-Use | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Property revenue | 63,388 | 62,326 | 61,788 | ||||||||
| Property expense | (38,250) | (37,076) | (37,135) | ||||||||
| Operating income (loss) | $ 25,138 | $ 25,250 | $ 24,653 | ||||||||
| X | ||||||||||
- Definition Property expenses. No definition available.
|
| X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
Segment Reporting Reconciliation of Segment Profit to Net Income Attributable to Stockholders (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Segment Reporting [Abstract] | |||||||||||
| Total segments' profit | $ 234,761 | $ 209,412 | $ 198,306 | ||||||||
| General and administrative | (24,871) | (22,784) | (21,382) | ||||||||
| Depreciation and amortization | (96,205) | (107,093) | (83,278) | ||||||||
| Interest expense | 54,008 | 52,248 | 53,848 | ||||||||
| Gain on sale of real estate | 633 | 0 | 0 | ||||||||
| Other income (expense), net | (122) | (85) | 334 | ||||||||
| Net income | $ 16,485 | $ 16,519 | $ 11,941 | $ 15,243 | $ 9,209 | $ 14,271 | $ 4,413 | $ (691) | 60,188 | 27,202 | 40,132 |
| Net income attributable to restricted shares | (104) | (92) | (92) | (93) | (96) | (71) | (216) | 72 | (381) | (311) | (241) |
| Net income attributable to unitholders in the Operating Partnership | (3,536) | (3,565) | (2,933) | (4,055) | (2,440) | (3,806) | (1,125) | 166 | (14,089) | (7,205) | (10,814) |
| Net income (loss) attributable to American Assets Trust, Inc. stockholders | $ 12,845 | $ 12,862 | $ 8,916 | $ 11,095 | $ 6,673 | $ 10,394 | $ 3,072 | $ (453) | $ 45,718 | $ 19,686 | $ 29,077 |
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
|
| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
Segment Reporting Net Real Estate and Secured Note Payable Balances for Each Segment (Details) - USD ($) $ in Thousands |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
|||||
| Segment Reporting Information [Line Items] | ||||||
| Net real estate | $ 2,523,475 | $ 2,039,853 | ||||
| Secured Notes Payable | [1] | 162,003 | 182,765 | |||
| Capital Expenditures and Leasing Commissions | [2] | 99,594 | 64,347 | |||
| Debt issuance costs, net of accumulated amortization of $814 and $0, respectively | 1,256 | 0 | ||||
| Total Retail | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Net real estate | 624,912 | 628,734 | ||||
| Secured Notes Payable | 34,235 | 35,008 | ||||
| Capital Expenditures and Leasing Commissions | 22,844 | 14,219 | ||||
| Total Office | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Net real estate | 1,317,854 | 822,574 | ||||
| Secured Notes Payable | 127,768 | 147,757 | ||||
| Capital Expenditures and Leasing Commissions | 64,549 | 45,192 | ||||
| Total Multifamily | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Net real estate | 401,152 | 412,042 | ||||
| Capital Expenditures and Leasing Commissions | 3,711 | 3,659 | ||||
| Total Mixed-Use | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Net real estate | 179,557 | 176,503 | ||||
| Capital Expenditures and Leasing Commissions | 8,490 | 1,277 | ||||
| American Assets Trust, L.P. | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Net real estate | 2,523,475 | 2,039,853 | ||||
| Secured notes payable | American Assets Trust, L.P. | ||||||
| Segment Reporting Information [Line Items] | ||||||
| Debt issuance costs, net of accumulated amortization of $814 and $0, respectively | $ 124 | $ 193 | ||||
| ||||||
| X | ||||||||||
- Definition Capital Expenditures and Leasing Commissions No definition available.
|
| X | ||||||||||
- Definition Amount, after accumulated amortization, of debt issuance costs. Includes, but is not limited to, legal, accounting, underwriting, printing, and registration costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Quarterly Financial Information (Unaudited) Selected Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2019 |
Sep. 30, 2019 |
Jun. 30, 2019 |
Mar. 31, 2019 |
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Quarterly Financial Information [Line Items] | |||||||||||
| Total revenue | $ 98,947 | $ 98,362 | $ 84,113 | $ 85,319 | $ 82,605 | $ 82,507 | $ 85,023 | $ 80,732 | $ 366,741 | $ 330,867 | $ 314,983 |
| Operating income (loss) | 29,993 | 30,384 | 24,487 | 28,821 | 22,091 | 27,275 | 17,249 | 12,920 | 113,685 | 79,535 | 93,646 |
| Net income | 16,485 | 16,519 | 11,941 | 15,243 | 9,209 | 14,271 | 4,413 | (691) | 60,188 | 27,202 | 40,132 |
| Net income attributable to restricted shares | (104) | (92) | (92) | (93) | (96) | (71) | (216) | 72 | (381) | (311) | (241) |
| Net income attributable to unitholders in the Operating Partnership | (3,536) | (3,565) | (2,933) | (4,055) | (2,440) | (3,806) | (1,125) | 166 | (14,089) | (7,205) | (10,814) |
| Net income (loss) attributable to American Assets Trust, Inc. stockholders | $ 12,845 | $ 12,862 | $ 8,916 | $ 11,095 | $ 6,673 | $ 10,394 | $ 3,072 | $ (453) | 45,718 | 19,686 | 29,077 |
| Net income attributable to common stockholders - basic and diluted (in dollars per share) | $ 0.22 | $ 0.22 | $ 0.18 | $ 0.24 | $ 0.14 | $ 0.22 | $ 0.07 | $ (0.01) | |||
| American Assets Trust, L.P. | |||||||||||
| Quarterly Financial Information [Line Items] | |||||||||||
| Total revenue | $ 98,947 | $ 98,362 | $ 84,113 | $ 85,319 | $ 82,605 | $ 82,507 | $ 85,023 | $ 80,732 | 366,741 | 330,867 | 314,983 |
| Operating income (loss) | 29,993 | 30,384 | 24,487 | 28,821 | 22,091 | 27,275 | 17,249 | 12,920 | 113,685 | 79,535 | 93,646 |
| Net income | 16,485 | 16,519 | 11,941 | 15,243 | 9,209 | 14,271 | 4,413 | (691) | 60,188 | 27,202 | 40,132 |
| Net income attributable to restricted shares | (104) | (92) | (92) | (93) | (96) | (71) | (216) | 72 | (381) | (311) | (241) |
| Net income (loss) attributable to American Assets Trust, Inc. stockholders | $ 59,807 | $ 26,891 | $ 39,891 | ||||||||
| Net income attributable to American Assets Trust, L.P. unit holders | $ 16,381 | $ 16,427 | $ 11,849 | $ 15,150 | $ 9,113 | $ 14,200 | $ 4,197 | $ (619) | |||
| Net income attributable to common stockholders - basic and diluted (in dollars per share) | $ 0.22 | $ 0.22 | $ 0.18 | $ 0.24 | $ 0.14 | $ 0.22 | $ 0.07 | $ (0.01) | |||
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
|
| X | ||||||||||
- Definition [Line Items] for Quarterly Financial Information [Table] No definition available.
|
| X | ||||||||||
- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Aggregate amount of net income allocated to general partners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Details
|
SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|---|---|---|---|---|
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | $ 162,003 | |||
| Initial Cost, Land | 593,583 | |||
| Initial Cost, Building and Improvements | 1,784,945 | |||
| Cost Capitalized Subsequent to Acquisition | 810,169 | |||
| Gross Carrying Amount, Land | 628,556 | |||
| Gross Carrying Amount, Building and Improvements | 2,560,141 | |||
| Accumulated Depreciation and Amortization | (665,222) | $ (590,338) | $ (537,431) | $ (469,460) |
| The aggregate tax basis for Federal tax purposes | 2,400,000 | |||
| Alamo Quarry Market | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 26,396 | |||
| Initial Cost, Building and Improvements | 109,294 | |||
| Cost Capitalized Subsequent to Acquisition | 18,142 | |||
| Gross Carrying Amount, Land | 26,816 | |||
| Gross Carrying Amount, Building and Improvements | 127,016 | |||
| Accumulated Depreciation and Amortization | (61,257) | |||
| Carmel Country Plaza | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 4,200 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 12,899 | |||
| Gross Carrying Amount, Land | 4,200 | |||
| Gross Carrying Amount, Building and Improvements | 12,899 | |||
| Accumulated Depreciation and Amortization | (8,675) | |||
| Carmel Mountain Plaza | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 22,477 | |||
| Initial Cost, Building and Improvements | 65,217 | |||
| Cost Capitalized Subsequent to Acquisition | 38,563 | |||
| Gross Carrying Amount, Land | 31,034 | |||
| Gross Carrying Amount, Building and Improvements | 95,223 | |||
| Accumulated Depreciation and Amortization | (44,156) | |||
| Del Monte Center | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 27,412 | |||
| Initial Cost, Building and Improvements | 87,570 | |||
| Cost Capitalized Subsequent to Acquisition | 34,379 | |||
| Gross Carrying Amount, Land | 27,117 | |||
| Gross Carrying Amount, Building and Improvements | 122,244 | |||
| Accumulated Depreciation and Amortization | (66,204) | |||
| Gateway Marketplace | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 17,363 | |||
| Initial Cost, Building and Improvements | 21,644 | |||
| Cost Capitalized Subsequent to Acquisition | 1,097 | |||
| Gross Carrying Amount, Land | 17,363 | |||
| Gross Carrying Amount, Building and Improvements | 22,741 | |||
| Accumulated Depreciation and Amortization | (2,040) | |||
| Geary Marketplace | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 8,239 | |||
| Initial Cost, Building and Improvements | 12,353 | |||
| Cost Capitalized Subsequent to Acquisition | 171 | |||
| Gross Carrying Amount, Land | 8,239 | |||
| Gross Carrying Amount, Building and Improvements | 12,524 | |||
| Accumulated Depreciation and Amortization | (2,800) | |||
| Hassalo on Eighth - Retail | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 0 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 28,364 | |||
| Gross Carrying Amount, Land | 597 | |||
| Gross Carrying Amount, Building and Improvements | 27,767 | |||
| Accumulated Depreciation and Amortization | (5,106) | |||
| Lomas Santa Fe Plaza | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 8,600 | |||
| Initial Cost, Building and Improvements | 11,282 | |||
| Cost Capitalized Subsequent to Acquisition | 13,805 | |||
| Gross Carrying Amount, Land | 8,620 | |||
| Gross Carrying Amount, Building and Improvements | 25,067 | |||
| Accumulated Depreciation and Amortization | (17,166) | |||
| The Shops at Kalakaua | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 13,993 | |||
| Initial Cost, Building and Improvements | 10,817 | |||
| Cost Capitalized Subsequent to Acquisition | (6) | |||
| Gross Carrying Amount, Land | 14,006 | |||
| Gross Carrying Amount, Building and Improvements | 10,798 | |||
| Accumulated Depreciation and Amortization | (4,674) | |||
| Solana Beach Towne Centre | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 34,235 | |||
| Initial Cost, Land | 40,980 | |||
| Initial Cost, Building and Improvements | 38,842 | |||
| Cost Capitalized Subsequent to Acquisition | 4,222 | |||
| Gross Carrying Amount, Land | 40,980 | |||
| Gross Carrying Amount, Building and Improvements | 43,064 | |||
| Accumulated Depreciation and Amortization | (12,291) | |||
| South Bay Marketplace | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 4,401 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 12,760 | |||
| Gross Carrying Amount, Land | 4,401 | |||
| Gross Carrying Amount, Building and Improvements | 12,760 | |||
| Accumulated Depreciation and Amortization | (7,695) | |||
| Waikele Center | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 55,593 | |||
| Initial Cost, Building and Improvements | 126,858 | |||
| Cost Capitalized Subsequent to Acquisition | 41,174 | |||
| Gross Carrying Amount, Land | 70,643 | |||
| Gross Carrying Amount, Building and Improvements | 152,982 | |||
| Accumulated Depreciation and Amortization | (62,126) | |||
| City Center Bellevue | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 111,000 | |||
| Initial Cost, Land | 25,135 | |||
| Initial Cost, Building and Improvements | 190,998 | |||
| Cost Capitalized Subsequent to Acquisition | 46,320 | |||
| Gross Carrying Amount, Land | 25,135 | |||
| Gross Carrying Amount, Building and Improvements | 237,318 | |||
| Accumulated Depreciation and Amortization | (52,543) | |||
| First & Main | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 14,697 | |||
| Initial Cost, Building and Improvements | 109,739 | |||
| Cost Capitalized Subsequent to Acquisition | 7,708 | |||
| Gross Carrying Amount, Land | 14,697 | |||
| Gross Carrying Amount, Building and Improvements | 117,447 | |||
| Accumulated Depreciation and Amortization | (32,259) | |||
| The Land Mark at One Market | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 34,575 | |||
| Initial Cost, Building and Improvements | 141,196 | |||
| Cost Capitalized Subsequent to Acquisition | 13,351 | |||
| Gross Carrying Amount, Land | 34,575 | |||
| Gross Carrying Amount, Building and Improvements | 154,547 | |||
| Accumulated Depreciation and Amortization | (36,102) | |||
| Lloyd District Portfolio | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 18,660 | |||
| Initial Cost, Building and Improvements | 61,401 | |||
| Cost Capitalized Subsequent to Acquisition | 90,191 | |||
| Gross Carrying Amount, Land | 11,845 | |||
| Gross Carrying Amount, Building and Improvements | 158,407 | |||
| Accumulated Depreciation and Amortization | (34,828) | |||
| One Beach Street | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 15,332 | |||
| Initial Cost, Building and Improvements | 18,017 | |||
| Cost Capitalized Subsequent to Acquisition | 3,353 | |||
| Gross Carrying Amount, Land | 15,332 | |||
| Gross Carrying Amount, Building and Improvements | 21,370 | |||
| Accumulated Depreciation and Amortization | (5,716) | |||
| Solana Beach Corporate Centre I-II | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 10,270 | |||
| Initial Cost, Land | 7,111 | |||
| Initial Cost, Building and Improvements | 17,100 | |||
| Cost Capitalized Subsequent to Acquisition | 6,876 | |||
| Gross Carrying Amount, Land | 7,111 | |||
| Gross Carrying Amount, Building and Improvements | 23,976 | |||
| Accumulated Depreciation and Amortization | (6,515) | |||
| Solana Beach Corporate Centre III-IV | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 7,298 | |||
| Initial Cost, Building and Improvements | 27,887 | |||
| Cost Capitalized Subsequent to Acquisition | 4,448 | |||
| Gross Carrying Amount, Land | 7,298 | |||
| Gross Carrying Amount, Building and Improvements | 32,335 | |||
| Accumulated Depreciation and Amortization | (8,429) | |||
| Solana Beach Corporate Centre Land | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 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, 2019 | 0 | |||
| Initial Cost, Land | 4,095 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 52,130 | |||
| Gross Carrying Amount, Land | 5,408 | |||
| Gross Carrying Amount, Building and Improvements | 50,817 | |||
| Accumulated Depreciation and Amortization | (18,440) | |||
| Pacific North Court | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 3,263 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 26,182 | |||
| Gross Carrying Amount, Land | 4,309 | |||
| Gross Carrying Amount, Building and Improvements | 25,136 | |||
| Accumulated Depreciation and Amortization | (12,015) | |||
| Pacific South Court | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 3,285 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 39,489 | |||
| Gross Carrying Amount, Land | 4,226 | |||
| Gross Carrying Amount, Building and Improvements | 38,548 | |||
| Accumulated Depreciation and Amortization | (14,733) | |||
| Pacific VC | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 6,498 | |||
| Initial Cost, Land | 1,413 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 10,154 | |||
| Gross Carrying Amount, Land | 2,148 | |||
| Gross Carrying Amount, Building and Improvements | 9,419 | |||
| Accumulated Depreciation and Amortization | (5,234) | |||
| Pacific Torrey Daycare | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 715 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 1,914 | |||
| Gross Carrying Amount, Land | 911 | |||
| Gross Carrying Amount, Building and Improvements | 1,718 | |||
| Accumulated Depreciation and Amortization | (939) | |||
| Torrey Reserve Building 6 | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 0 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 8,006 | |||
| Gross Carrying Amount, Land | 682 | |||
| Gross Carrying Amount, Building and Improvements | 7,324 | |||
| Accumulated Depreciation and Amortization | (1,787) | |||
| Torrey Reserve Building 5 | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 0 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 4,010 | |||
| Gross Carrying Amount, Land | 1,017 | |||
| Gross Carrying Amount, Building and Improvements | 2,993 | |||
| Accumulated Depreciation and Amortization | (358) | |||
| Torrey Reserve Building 13 & 14 | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 0 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 15,916 | |||
| Gross Carrying Amount, Land | 2,188 | |||
| Gross Carrying Amount, Building and Improvements | 13,728 | |||
| Accumulated Depreciation and Amortization | (1,981) | |||
| Torrey Point | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 2,073 | |||
| Initial Cost, Building and Improvements | 741 | |||
| Cost Capitalized Subsequent to Acquisition | 45,229 | |||
| Gross Carrying Amount, Land | 5,050 | |||
| Gross Carrying Amount, Building and Improvements | 42,993 | |||
| Accumulated Depreciation and Amortization | (1,655) | |||
| La Jolla Commons One & Two | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 62,312 | |||
| Initial Cost, Building and Improvements | 393,662 | |||
| Cost Capitalized Subsequent to Acquisition | 882 | |||
| Gross Carrying Amount, Land | 62,312 | |||
| Gross Carrying Amount, Building and Improvements | 394,544 | |||
| Accumulated Depreciation and Amortization | (8,060) | |||
| La Jolla Commons - Land | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 20,446 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 1,592 | |||
| Gross Carrying Amount, Land | 20,446 | |||
| Gross Carrying Amount, Building and Improvements | 1,592 | |||
| Accumulated Depreciation and Amortization | 0 | |||
| Imperial Beach Gardens | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 1,281 | |||
| Initial Cost, Building and Improvements | 4,820 | |||
| Cost Capitalized Subsequent to Acquisition | 5,049 | |||
| Gross Carrying Amount, Land | 1,281 | |||
| Gross Carrying Amount, Building and Improvements | 9,869 | |||
| Accumulated Depreciation and Amortization | (8,209) | |||
| Loma Palisades | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 14,000 | |||
| Initial Cost, Building and Improvements | 16,570 | |||
| Cost Capitalized Subsequent to Acquisition | 28,085 | |||
| Gross Carrying Amount, Land | 14,052 | |||
| Gross Carrying Amount, Building and Improvements | 44,603 | |||
| Accumulated Depreciation and Amortization | (29,226) | |||
| Mariner's Point | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 2,744 | |||
| Initial Cost, Building and Improvements | 4,540 | |||
| Cost Capitalized Subsequent to Acquisition | 1,695 | |||
| Gross Carrying Amount, Land | 2,744 | |||
| Gross Carrying Amount, Building and Improvements | 6,235 | |||
| Accumulated Depreciation and Amortization | (3,683) | |||
| Santa Fe Park Rv Resort | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 401 | |||
| Initial Cost, Building and Improvements | 928 | |||
| Cost Capitalized Subsequent to Acquisition | 1,061 | |||
| Gross Carrying Amount, Land | 401 | |||
| Gross Carrying Amount, Building and Improvements | 1,989 | |||
| Accumulated Depreciation and Amortization | (1,515) | |||
| Pacific Ridge Apartments | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 47,971 | |||
| Initial Cost, Building and Improvements | 178,497 | |||
| Cost Capitalized Subsequent to Acquisition | 1,643 | |||
| Gross Carrying Amount, Land | 47,971 | |||
| Gross Carrying Amount, Building and Improvements | 180,140 | |||
| Accumulated Depreciation and Amortization | (17,930) | |||
| Hassalo on Eighth - Residential | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 0 | |||
| Initial Cost, Building and Improvements | 0 | |||
| Cost Capitalized Subsequent to Acquisition | 178,075 | |||
| Gross Carrying Amount, Land | 6,219 | |||
| Gross Carrying Amount, Building and Improvements | 171,856 | |||
| Accumulated Depreciation and Amortization | (25,645) | |||
| Waikiki Beach Walk - Retail | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 45,995 | |||
| Initial Cost, Building and Improvements | 74,943 | |||
| Cost Capitalized Subsequent to Acquisition | 851 | |||
| Gross Carrying Amount, Land | 45,995 | |||
| Gross Carrying Amount, Building and Improvements | 75,794 | |||
| Accumulated Depreciation and Amortization | (21,039) | |||
| Waikiki Beach Walk Hotel | ||||
| Real Estate and Accumulated Depreciation [Line Items] | ||||
| Encumbrance as of December 31, 2019 | 0 | |||
| Initial Cost, Land | 30,640 | |||
| Initial Cost, Building and Improvements | 60,029 | |||
| Cost Capitalized Subsequent to Acquisition | 10,329 | |||
| Gross Carrying Amount, Land | 30,640 | |||
| Gross Carrying Amount, Building and Improvements | 70,358 | |||
| Accumulated Depreciation and Amortization | $ (22,191) |
| X | ||||||||||
- Definition Amount of lien or mortgage outstanding on real estate investment properties for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Cost basis of real estate investments for federal income tax purposes for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of accumulated depreciation pertaining to real estate investments for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accumulated depreciation of buildings and improvements for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of land for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of cost capitalized subsequent to acquisition for real estate investment property, including, but not limited to, real estate tax and insurance, by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Excludes initial purchase price and improvement, and real estate not held as investment or interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Initial cost of buildings and improvements for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Initial cost of land for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation Rollforward (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||
| Real estate assets | |||||
| Balance, beginning of period | $ 2,630,191 | $ 2,614,138 | $ 2,301,006 | ||
| Property acquisitions | 476,421 | 0 | 270,602 | ||
| Improvements | 101,285 | 62,790 | 44,755 | ||
| Cost of Real Estate Sold | (8,845) | 0 | 0 | ||
| Other | [1] | (10,355) | (46,737) | (2,225) | |
| Balance, end of period | 3,188,697 | 2,630,191 | 2,614,138 | ||
| Accumulated depreciation | |||||
| Balance, beginning of period | 590,338 | 537,431 | 469,460 | ||
| Additions-depreciation | 85,428 | 99,644 | 70,196 | ||
| Cost of Real Estate Sold | (189) | 0 | 0 | ||
| Other | [1] | (10,355) | (46,737) | (2,225) | |
| Balance, end of period | $ 665,222 | $ 590,338 | $ 537,431 | ||
| |||||
| X | ||||||||||
- Definition Amount of accumulated depreciation pertaining to real estate investments for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of other deductions to accumulated depreciation, excluding sales, for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of decrease to accumulated depreciation for real estate investments sold for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of real estate investments sold for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, before accumulated depreciation, of real estate investment by entity with substantial portion of business acquiring and holding investment real estate or interest in real estate. Excludes real estate not held as investment or interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of increase in real estate investments related to improvements for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of increase in real estate investments from acquisitions other than through foreclosure for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of other deductions to real estate investments, excluding sales, for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Amount of depreciation expense of real estate investments for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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