Names of Three Hassalo on Eighth Apartment Buildings Announced

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- The three unique buildings comprise one of Portland’s largest residential developments, slated to open in Summer 2015 -

Portland, Ore. (February 9, 2015) — Joined by Mayor Charlie Hales and Congressmen Earl Blumenauer, executives from the owner and developer of Hassalo on Eighth, American Assets Trust, Inc. (NYSE: AAT), unveiled the names of the three apartment buildings that comprise the residential and commercial portion of the superblock development. The company also announced that pre-leasing for apartments begins in April 2015.

The buildings, and their new names and features, are listed below:

Velomor, formerly called Block 92, is a six-story building and features 177 apartments, along with retail space on the ground floor.

Aster Tower, formerly called Block 101, is a 21-story tower with 337 apartments and retail. It is the tallest building in the Hassalo on Eighth project.

The Elwood Building, formerly called Block 100, is a five-story building comprised of 143 apartments and retail.

Dignitaries and executives from American Assets Trust, Inc. joined supporters and members of the Lloyd District community today to celebrate the “topping” of Aster Tower (the tallest tower at Hassalo on Eighth) by placing the final steel beam on the top of the building, weather-permitting. The traditional “topping” ceremony was designed to celebrate the project’s moving into the final phases of construction prior to opening. Hassalo on Eighth will begin pre-leasing apartments in the 657-unit, three-building development this spring and plans a formal opening in September.

“Hassalo on Eighth is creating a new neighborhood on Portland’s Eastside: A place for people to live, work and play,” said American Assets Trust, Inc.’s President & CEO John Chamberlain. “With gorgeous views of the downtown Portland skyline, and MAX and the Portland Streetcar right outside your door, this is going to be a great new community.”

Located between NE Hassalo and Multnomah Streets on the north and south and between NE 7th and 9th on the east and west, Hassalo on Eighth will attract a wide range of residents and visitors by offering a variety of apartment options and retail spaces.

The project, designed by Portland’s GBD Architects, is projected to be LEED Platinum certified, and includes a number of innovative green technologies, including recycling and re-using all of the building’s water, which is extremely rare in residential developments. It will boast over 1,000 bike parking spaces, a bike valet as well as doggie lounges and wash areas for residents with four-legged friends.

About American Assets Trust
American Assets Trust, Inc. is a full service, vertically integrated and self-administered real estate investment trust, or REIT, headquartered in San Diego, California. For over 40 years, the Company has been acquiring, improving, developing and managing premier retail, office and residential properties throughout the United States in some of the nation's most dynamic, high-barrier-to-entry markets primarily in Southern California, Northern California, Oregon, Washington and Hawaii. The Company's retail portfolio comprises approximately 3.1 million rentable square feet, and its office portfolio comprises approximately 2.7 million square feet. In addition, the Company owns one mixed-use property (including approximately 97,000 rentable square feet of retail space and a 369-room all-suite hotel) and over 900 multifamily units. In 2011, the Company was formed to succeed to the real estate business of American Assets, Inc., a privately held corporation founded in 1967 and, as such, has significant experience, long-standing relationships and extensive knowledge of its core markets, submarkets and asset classes. For additional information, please visit www.americanassetstrust.com.

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Contact: Leslie Carlson
503.805.5560
leslie@weinsteinpr.com