Document and Entity Information (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Feb. 21, 2014	Jun. 28, 2013
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	FY
Trading Symbol	AAT
Entity Registrant Name	AMERICAN ASSETS TRUST, INC.
Entity Central Index Key	0001500217
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		40,387,804
Entity Public Float			$ 1,058.0

Consolidated Balance Sheets (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
ASSETS
Operating real estate	$ 1,919,015	$ 1,891,549
Construction in progress	67,389	32,183
Held for development	9,013	14,944
Total Real estate, at cost	1,995,417	1,938,676
Accumulated depreciation	(318,581)	(270,494)
Net real estate	1,676,836	1,668,182
Cash and cash equivalents	48,987	42,479
Restricted cash	9,124	7,421
Accounts receivable, net	7,295	6,440
Deferred rent receivables, net	32,531	29,395
Other assets, net	57,670	73,670
TOTAL ASSETS	1,832,443	1,827,587
LIABILITIES AND EQUITY
Secured notes payable	952,174	1,044,682
Line of credit	93,000	0
Accounts payable and accrued expenses	37,063	29,509
Security deposits payable	5,163	4,856
Other liabilities and deferred credits	58,465	62,811
Total liabilities	1,145,865	1,141,858
Commitments and contingencies (Note 11)
American Assets Trust, Inc. stockholders' equity
Common stock, $0.01 par value, 490,000,000 shares authorized, 40,512,563 and 39,664,212 shares issued and outstanding at December 31, 2013 and 2012, respectively	405	397
Additional paid-in capital	692,196	663,589
Accumulated dividends in excess of net income	(44,090)	(25,625)
Total American Assets Trust, Inc. stockholders' equity	648,511	638,361
Noncontrolling interests	38,067	47,368
Total equity	686,578	685,729
TOTAL LIABILITIES AND EQUITY	$ 1,832,443	$ 1,827,587

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	490,000,000	490,000,000
Common stock, shares outstanding	40,512,563	39,664,212

Consolidated Statements of Income (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
REVENUE:
Rental income	$ 242,757	$ 225,249	$ 194,168
Other property income	12,300	10,217	8,617
Total revenue	255,057	235,466	202,785
EXPENSES:
Rental expenses	68,608	64,089	58,133
Real estate taxes	21,378	22,025	18,746
General and administrative	17,195	15,593	13,627
Depreciation and amortization	66,775	61,853	55,936
Total operating expenses	173,956	163,560	146,442
Operating income (loss)	81,101	71,906	56,343
Interest expense	(58,020)	(57,328)	(54,580)
Early extinguishment of debt	0	0	(25,867)
Loan transfer and consent fees	0	0	(8,808)
Gain on acquisition	0	0	46,371
Other income (expense), net	(487)	(629)	212
INCOME FROM CONTINUING OPERATIONS	22,594	13,949	13,671
Discontinued operations
Income from discontinued operations	0	932	1,672
Gain on sale of real estate property	0	36,720	3,981
Results from discontinued operations	0	37,652	5,653
NET INCOME	22,594	51,601	19,324
Net income attributable to restricted shares	(536)	(529)	(482)
Net loss attributable to Predecessor's noncontrolling interests in consolidated real estate entities	0	0	2,458
Net income attributable to Predecessor's controlled owners' equity	0	0	(16,995)
Net income attributable to unitholders in the Operating Partnership	(6,838)	(16,133)	(1,388)
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS	$ 15,220	$ 34,939	$ 2,917
EARNINGS (LOSS) PER COMMON SHARE, BASIC
Continuing operations	$ 0.38	$ 0.24	$ (0.02)
Discontinued operations	$ 0.00	$ 0.66	$ 0.10
Basic net income attributable to common stockholders per share	$ 0.38	$ 0.90	$ 0.08
Weighted average shares of common stock outstanding-basic	39,539,457	38,736,113	36,748,806
EARNINGS (LOSS) PER COMMON SHARE, DILUTED
Continuing operations	$ 0.38	$ 0.24	$ (0.02)
Discontinued operations	$ 0.00	$ 0.66	$ 0.10
Diluted net income attributable to common stockholders per share	$ 0.38	$ 0.90	$ 0.08
Weighted average shares of common stock outstanding-diluted	57,515,810	57,053,909	54,219,807

Consolidated Statements of Equity (USD $) In Thousands, except Share data, unless otherwise specified	Total	Predecessor	Common Shares	Additional Paid-in Capital	Accumulated dividends in excess of net income	Noncontrolling Interests - Unitholders in the Operating Partnership	Noncontrolling Interests - Unitholders in the Operating Partnership Predecessor
Beginning Balance at Dec. 31, 2010	$ 155,121	$ 121,874	$ 0	$ 0	$ 0	$ 0	$ 33,247
Beginning Balance (in shares) at Dec. 31, 2010			0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	19,324	16,995			3,399	1,388	(2,458)
Distributions	(39,960)	(33,435)					(6,525)
Common shares issued (in shares)			31,625,000
Common shares issued	588,011		316	587,695
Cash paid to non-accredited investors	(6,075)						(6,075)
Issuance of restricted stock (in shares)			630,663
Issuance of restricted stock			6	(6)
Forfeiture of restricted stock (in shares)			(1,951)
Issuance of common shares and units for acquisition of properties (in shares)			262,486
Issuance of common shares and units for acquisition of properties	33,854		3	6,081		27,770
Proceeds from private placement	5,410					5,410
Notes receivable from affiliate settled in common units	(21,797)					(21,797)
Notes payable to affiliates settled in common units	828					828
Dividends declared and paid	(46,123)				(31,406)	(14,717)
Stock-based compensation	2,615			2,615
Distribution of investment in joint venture not acquired	(11,480)	(9,084)					(2,396)
Exchange of owners' equity for common stock and units, Shares			6,767,598
Exchange of owners' equity for common stock and units		(96,350)	68	57,260		54,815	(15,793)
Ending Balance at Dec. 31, 2011	679,728	0	393	653,645	(28,007)	53,697	0
Ending Balance (in shares) at Dec. 31, 2011			39,283,796
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	51,601				35,467	16,134
Conversion of operating partnership units (in shares)			372,654
Conversion of operating partnership units			4	7,092		(7,096)
Issuance of restricted stock (in shares)			10,015
Forfeiture of restricted stock (in shares)			(2,253)
Issuance of common shares and units for acquisition of properties	0
Dividends declared and paid	(48,452)				(33,085)	(15,367)
Stock-based compensation	2,852			2,852
Ending Balance at Dec. 31, 2012	685,729	0	397	663,589	(25,625)	47,368	0
Ending Balance (in shares) at Dec. 31, 2012	39,664,212		39,664,212
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	22,594				15,756	6,838
Conversion of operating partnership units (in shares)			106,326
Conversion of operating partnership units	0		1	859		(860)
Common shares issued (in shares)			741,452
Common shares issued	24,910		7	24,903
Issuance of restricted stock (in shares)			5,004
Issuance of restricted stock			0
Forfeiture of restricted stock (in shares)			(4,431)
Forfeiture of restricted stock			0
Issuance of common shares and units for acquisition of properties	0
Dividends declared and paid	(49,500)				(34,221)	(15,279)
Stock-based compensation	2,845			2,845
Ending Balance at Dec. 31, 2013	$ 686,578	$ 0	$ 405	$ 692,196	$ (44,090)	$ 38,067	$ 0
Ending Balance (in shares) at Dec. 31, 2013	40,512,563		40,512,563

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
OPERATING ACTIVITIES
Net income	$ 22,594	$ 51,601	$ 19,324
Results from discontinued operations	0	(37,652)	(5,653)
Income from continuing operations	22,594	13,949	13,671
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
Deferred rent revenue and amortization of lease intangibles	(4,997)	(6,967)	(3,735)
Depreciation and amortization	66,775	61,853	55,936
Amortization of debt issuance costs and debt fair value adjustments	3,932	3,911	3,883
Early extinguishment of debt	0	0	25,867
Loan transfer and consent fees	0	0	8,808
Gain on acquisition of controlling interests	0	0	(46,371)
Stock-based compensation expense	2,845	2,852	2,615
Loss from real estate joint ventures	(160)	0	188
Other, net	1,008	2,422	2,666
Changes in operating assets and liabilities
Change in restricted cash	(755)	(1,000)	97
Change in accounts receivable	(45)	63	(3,570)
Change in other assets	(88)	143	(2,040)
Change in accounts payable and accrued expenses	1,167	(1,799)	2,128
Change in security deposits payable	307	(50)	82
Change in other liabilities and deferred credits	151	186	(1,025)
Net cash provided by operating activities of continuing operations	92,734	75,563	59,200
Net cash provided by operating activities of discontinued operations	0	382	6,164
Net cash provided by operating activities	92,734	75,945	65,364
INVESTING ACTIVITIES
Acquisition of real estate, net of cash acquired	0	(273,990)	(231,558)
Capital expenditures	(55,675)	(34,582)	(10,777)
Change in restricted cash, reserves for capital improvements	453	2,557	(3,069)
Cash acquired from acquisition of controlling interests in real estate joint ventures	0	0	15,222
Leasing commissions	(3,032)	(3,456)	(2,444)
Purchase of marketable securities	0	0	(33,103)
Maturity of marketable securities	0	4,384	4,993
Sale of marketable securities	0	23,191	0
Net cash used in investing activities of continuing operations	(58,254)	(281,896)	(260,736)
Net cash provided by investing activities of discontinued operations	0	87,601	29,047
Net cash used in investing activities	(58,254)	(194,295)	(231,689)
FINANCING ACTIVITIES
Change in restricted cash	(1,400)	0	0
Issuance of secured notes payable	0	132,900	84,500
Repayment of secured notes payable	(95,420)	(34,626)	(264,250)
Defeasance costs on repayment of secured notes payable	0	0	(24,345)
Proceeds from unsecured line of credit	93,000	164,000	0
Repayment of unsecured line of credit	0	(164,000)	0
Loan transfer and consent fees paid	0	0	(8,350)
Repayment of unsecured notes payable	0	0	(38,013)
Repayment of notes payable to affiliates	0	0	(19,279)
Debt issuance costs	0	(1,355)	(2,961)
Proceeds from issuance of common stock, net	25,348	0	596,541
Proceeds from private placement of common units	0	0	5,410
Dividends paid to common stock and unitholders	(49,500)	(48,452)	(46,123)
Payments to nonaccredited investors	0	0	(6,075)
Deferred offering costs	0	(361)	0
Distributions to Predecessor's controlling and noncontrolling interests	0	0	(39,960)
Net cash (used in) provided by financing activities	(27,972)	48,106	237,095
Net (decrease) increase in cash and cash equivalents	6,508	(70,244)	70,770
Cash and cash equivalents, beginning of period	42,479	112,723	41,953
Cash and cash equivalents, end of period	$ 48,987	$ 42,479	$ 112,723

Summary of Significant Accounting Policies (Notes)

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

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 of certain assets of our Predecessor (as defined below) on January 19, 2011. 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.

Our “Predecessor” is not a legal entity but rather a combination of entities whose assets included entities owned and/or controlled by Ernest S. Rady and his affiliates, including the Ernest Rady Trust U/D/T March 13, 1983 (the “Rady Trust”), which in turn owned (1) controlling interests in entities owning 17 properties and the property management business of American Assets, Inc. (“AAI”) (the “controlled entities”), and (2) noncontrolling interests in entities owning four properties (the “noncontrolled entities”) (the assets described at (1) and (2) are the “Acquired Assets,” and do not include our Predecessor’s noncontrolling 25% ownership interest in Novato FF Venture, LLC, the entity that owns the Fireman’s Fund Headquarters in Novato, California). The Formation Transactions included the acquisition by our Operating Partnership of the (a) Acquired Assets, (b) the entities that own Waikiki Beach Walk (a mixed-use property consisting of a retail portion and a hotel portion) (the “Waikiki Beach Walk entities”) and (c) the entities that own Solana Beach Towne Centre and Solana Beach Corporate Centre (the “Solana Beach Centre entities”) (including our Predecessor’s ownership interest in these entities).

We are a vertically integrated and self-administered REIT with 116 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 and square footage or acres 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, 2013, we owned or had a controlling interest in 23 office, retail, multifamily and mixed-use operating properties, the operations of which we consolidate. Additionally, as of December 31, 2013, we owned land at five of our properties that we classify as held for development and construction in progress. A summary of the properties owned by us is as follows:



Retail
Carmel Country Plaza	Del Monte Center
Carmel Mountain Plaza	Geary Marketplace
South Bay Marketplace	The Shops at Kalakaua
Rancho Carmel Plaza	Waikele Center
Lomas Santa Fe Plaza	Alamo Quarry Market
Solana Beach Towne Centre



Office
Torrey Reserve Campus	Lloyd District Portfolio
Solana Beach Corporate Centre	City Center Bellevue
The Landmark at One Market
One Beach Street
First & Main



Multifamily
Loma Palisades
Imperial Beach Gardens
Mariner's Point
Santa Fe Park RV Resort



Mixed-Use
Waikiki Beach Walk Retail and Embassy Suites™ Hotel



Held for Development and Construction in Progress
Solana Beach Corporate Centre – Land
Solana Beach – Highway 101 – Land
Sorrento Pointe – Land
Torrey Reserve – Land
Lloyd District Portfolio – Land

Basis of Presentation

Our consolidated/combined 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.

In August 2011, we sold Valencia Corporate Center. In December 2012, we sold 160 King Street. We have reclassified our financial statements for all periods prior to the sale to reflect Valencia Corporate Center and 160 King Street as discontinued operations. Unless noted otherwise, discussions in these notes pertain to our continuing operations.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” requires management to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management's best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates.

Consolidated Statements of Cash Flows-Supplemental Disclosures

The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):



	Year Ended December 31,
	2013		2012			2011
Supplemental cash flow information
Total interest costs incurred	$	60,133	$	58,074		$	54,580
Interest capitalized	$	2,113	$	746		$	—
Interest expense	$	58,020	$	57,328		$	54,580
Cash paid for interest, net of amounts capitalized (including discontinued operations)	$	54,345	$	55,349		$	52,713
Cash paid for income taxes	$	901	$	1,239		$	172
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued liabilities for construction in progress	$	5,001	$	4,944		$	2,396
Accrued leasing commissions	$	1,385	$	(782	)	$	—
Assumption of debt upon acquisition	$	—	$	—		$	268,008
Assumption of notes to affiliates upon acquisition	$	—	$	—		$	14,824
Acquisition of working capital deficit, net of cash	$	—	$	—		$	(4,176	)
Distribution of investment in joint venture not acquired	$	—	$	—		$	11,480
Issuance of common shares and units for acquisition of properties	$	—	$	—		$	33,854
Notes receivable from affiliate settled in common units	$	—	$	—		$	21,797
Notes payable to affiliates settled in common units	$	—	$	—		$	828
Reduction to capital for prepaid equity financing costs	$	437	$	—		$	1,974
Transfer taxes accrued at time of initial public offering	$	—	$	—		$	6,556

Offering Costs

In connection with the Offering, affiliates incurred legal, accounting and related costs, which were assumed or reimbursed by the Company upon the consummation of the Offering and such costs were deducted from the gross proceeds of the Offering.

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, net of valuation adjustments, based on management's assessment of credit, collection and other business risks. 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 allowances are lease incentives, 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 earned. 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, $3.3 million and $3.0 million for the years ended December 31, 2013, 2012 and 2011, 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 termination date. 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.

We recognize revenue on the hotel portion of our mixed-use property from the rental of hotel rooms and guest services 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 accounts receivable related to minimum rents, straight-line rents, expense reimbursements and other revenue. Accounts receivable and deferred rent receivable are carried net of this allowance for doubtful accounts. We generally do not require collateral or other security from our tenants, other than letters of credit or security deposits. Our determination as to the collectability of accounts receivable and correspondingly, the adequacy of this allowance, is based primarily upon evaluations of individual receivables, current economic conditions, historical experience and other relevant factors. The allowance for doubtful accounts is increased or decreased through bad debt expense. In some cases, primarily relating to straight-line rents, the collection of these amounts extends beyond one year. Our experience relative to unbilled straight-line rents is that a portion of the amounts otherwise recognizable as revenue is never billed to or collected from tenants due to early lease terminations, lease modifications, bankruptcies and other factors. Accordingly, the extended collection period for straight-line rents along with our evaluation of tenant credit risk may result in the nonrecognition of a portion of straight-line rental income until the collection of such income is reasonably assured. If our evaluation of tenant credit risk changes indicating more straight-line revenue is reasonably collectible than previously estimated and realized, the additional straight-line rental income is recognized as revenue. If our evaluation of tenant credit risk changes indicating a portion of realized straight-line rental income is no longer collectible, a reserve and bad debt expense is recorded. At December 31, 2013 and December 31, 2012, our allowance for doubtful accounts was $1.0 million and $1.2 million, respectively, and our allowance for deferred rent receivables was $1.2 million and $1.5 million, respectively. Total bad debt expense was $0.1 million, $0.6 million and $2.0 million for the years ended December 31, 2013, 2012 and 2011, respectively.

We recognize gains on sales of properties upon the closing of the transaction with the purchaser. Gains on properties sold are recognized using the full accrual method when (1) the collectability of the sales price is reasonably assured, (2) we are not obligated to perform significant activities after the sale, (3) the initial investment from the buyer is sufficient and (4) other profit recognition criteria have been satisfied. Gains on sales of properties may be deferred in whole or in part until the requirements for gain recognition have been met.

We receive various fee income from unconsolidated real estate joint ventures including property management fees, construction management fees, acquisition and disposition fees, leasing fees, asset management fees and financing fees. Fee income is recorded as earned in accordance with the respective fee agreement. Profit from these fees, if any, is eliminated to the extent of our ownership interest in these entities. Subsequent to the Formations Transactions and the acquisition of the outside interests in unconsolidated joint ventures, we no longer earn fee revenue (Note 15).

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, 2013, 2012 and 2011, real estate depreciation expense was $52.0 million, $47.8 million and $42.5 million, respectively, including amounts from discontinued operations.

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. Acquisition-related expenses are expensed in the period incurred.

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. 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. The sale or disposal of a “component of an entity” is treated as discontinued operations. The operating properties sold by us typically meet the definition of a component of an entity and as such the revenues and expenses associated with sold properties are reclassified to discontinued operations for all periods presented.

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 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. We had no hedging instruments outstanding during 2013, 2012 and 2011. Concurrent with the closing of the amended and restated credit facility, we entered into an interest rate swap agreement that is intended to fix the interest rate associated with the term loan at approximately 3.08% through its maturity date and extension options, subject to adjustments based on our consolidated leverage ratio (see Note 18).

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, 2013 and December 31, 2012, we had $29.0 million and $33.0 million, respectively, in excess of the FDIC insured limit. At December 31, 2013 and December 31, 2012, we had $11.0 million and $0.9 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. Activity for accounts related to real estate tax and insurance expenditures is classified as operating activities in the statement of cash flows. Changes in reserves for capital improvements are classified as investing activities in the statement of cash flows. At December 31, 2013 and 2012, we had $9.1 million and $7.4 million, respectively, in restricted cash.

Marketable Securities

Our portfolio of marketable securities was comprised of debt securities that are classified as trading. Trading securities are presented on our consolidated balance sheets at fair value at the end of each reporting period. Gains and losses resulting from the mark-to-market of these securities were recognized as unrealized and realized gains or losses in income.

Other Assets

Other assets consist primarily of lease costs, lease incentives, acquired in-place leases, acquired above market leases and debt issuance costs. 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.

Costs related to the issuance of debt instruments are capitalized and are amortized as interest expense over the estimated life of the related issue using the straight-line method which approximates the effective interest method. If a debt instrument is paid off prior to its original maturity date, the unamortized balance of debt issuance costs are written off to interest expense or, if significant, included in “early extinguishment of debt.” For the years ended December 31, 2013 and 2012, there were no early extinguishments of debt or write offs of debt issuance costs. For the year ended December 31, 2011, $0.6 million in debt issuance costs were written off and included in early extinguishment of debt.

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. We have evaluated our investments in certain joint ventures and determined that these joint ventures do not meet the requirements of a VIE and, therefore, consolidation of these ventures is not required. These investments are accounted for using the equity method.

Investments in Real Estate Joint Ventures

We analyze our investments in real estate joint ventures under applicable guidance to determine if the venture is considered a VIE and would require consolidation. To the extent that the ventures do not qualify as VIEs, we further assess the venture to determine whether a general partner, or the general partners as a group, controls a limited partnership or similar entity when the limited partners have certain rights in order to determine whether consolidation is required.

We consolidate those ventures that are considered to be VIEs where we are the primary beneficiary. Control is further demonstrated by the ability of the general partner to manage day-to-day operations, refinance debt and sell the assets of the venture without the consent of the limited partner and inability of the limited partner to replace the general partner. We use the equity method of accounting for those ventures where we do not have control over operating and financial policies. Under the equity method of accounting, the investment in each venture is included on our balance sheet; however, the assets and liabilities of the ventures for which we use the equity method are not included in the balance sheet. The investment is adjusted for contributions, distributions and our proportionate share of the net earnings or losses of each respective venture.

We assess whether there has been impairment in the value of our investments in real estate joint ventures periodically. An impairment charge is recorded when events or changes in circumstances indicate that a decline in the fair value below the carrying value has occurred and such decline is other-than-temporary. The ultimate realization of the investments in unconsolidated real estate joint ventures is dependent on a number of factors, including the performance of the investments and market conditions.

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.

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 federal income tax at regular corporate rates, including any applicable alternative minimum 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 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.

Reclassifications

Certain items in the consolidated financial statements for prior periods have been reclassified to conform to current classifications.

Recent Accounting Pronouncements

In February 2013, the FASB issued ASU 2013-2, Comprehensive Income (Topic 220): Reporting Amounts Reclassified Out of Accumulated Other Comprehensive Income. ASU 2013-2 requires entities to disclose certain information relating to amounts reclassified out of accumulated other comprehensive income. This pronouncement became effective for us in the first quarter of 2013 and did not have a significant impact on our consolidated financial statements.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Real Estate (Notes)

12 Months Ended

Dec. 31, 2013

Real Estate [Abstract]

REAL ESTATE

NOTE 2. REAL ESTATE

A summary of our real estate investments is as follows (in thousands):



	Retail			Office			Multifamily			Mixed-Use			Total
December 31, 2013
Land	$	248,008		$	150,300		$	18,477		$	76,635		$	493,420		⁽¹⁾
Buildings	499,091			618,077			42,270			123,142			1,282,580
Land improvements	39,892			7,528			3,010			2,363			52,793
Tenant improvements	46,649			51,016			—			1,697			99,362
Furniture, fixtures, and equipment	489			517			5,482			10,080			16,568
Construction in progress	2,673			46,727			19			1,275			50,694
	836,802			874,165			69,258			215,192			1,995,417
Accumulated depreciation	(185,095		)	(84,012		)	(33,909		)	(15,565		)	(318,581		)
Net real estate	$	651,707		$	790,153		$	35,349		$	199,627		$	1,676,836
December 31, 2012
Land	$	247,884		$	150,300		$	18,477		$	76,635		$	493,296		⁽¹⁾
Buildings	497,922			600,146			41,968			123,084			1,263,120
Land improvements	39,882			7,528			2,990			2,363			52,763
Tenant improvements	46,393			44,232			—			1,757			92,382
Furniture, fixtures, and equipment	486			1,124			5,082			9,563			16,255
Construction in progress	1,903			18,698			1			258			20,860
	834,470			822,028			68,518			213,660			1,938,676
Accumulated depreciation	(165,293		)	(62,825		)	(32,127		)	(10,249		)	(270,494		)
Net real estate	$	669,177		$	759,203		$	36,391		$	203,411		$	1,668,182

(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.

Acquisitions

2012 Acquisitions

On January 24, 2012, we acquired One Beach Street, consisting of approximately 97,000 square feet in a three-story fully renovated historic office building located along the Embarcadero in San Francisco's North Waterfront District. The purchase price was approximately $36.5 million, excluding closing costs of approximately $0.02 million, which are included in other income (expense), net on the statement of income. The identified intangible assets and liabilities are being amortized over a weighted average life of 7.0 years.

On August 21, 2012, we acquired City Center Bellevue, a 27-story LEED-EB Gold certified office tower, consisting of approximately 497,000 square feet, located in Bellevue, Washington. The purchase price was approximately $228.8 million, excluding closing costs of approximately $0.1 million, which are included in other income (expense), net on the statement of income. Additionally, we received credits to our purchase price of approximately $6.9 million that primarily relate to outstanding tenant improvement obligations and rent abatements. The identified intangible assets and liabilities are being amortized over a weighted average life of 5.8 years.

On December 19, 2012, we acquired Geary Marketplace, a newly constructed, approximately 35,000 square foot, 100% leased, grocery-anchored shopping center in Walnut Creek, California. The purchase price was approximately $21.0 million, excluding closing costs of approximately $0.02 million, which are included in other income (expense), net on the statement of income. The identified intangible assets and liabilities are being amortized over a weighted average life of 19.8 years.

The fair values assigned to identifiable intangible assets acquired were based on estimates and assumptions determined by management. Using information available at the time the acquisition closed, we allocated the total consideration to tangible assets and liabilities and identified intangible assets and liabilities. The allocation of the purchase price for each of One Beach Street, City Center Bellevue and Geary Marketplace is as follows (in thousands):



	One Beach Street		City Center Bellevue		Geary Marketplace		Total
Land	$	15,332	$	25,135	$	8,239	$	48,706
Building	16,764		185,653		11,179		213,596
Land improvements	30		154		704		888
Tenant improvements	1,223		5,191		470		6,884
Total real estate	33,349		216,133		20,592		270,074
Lease intangibles	4,141		11,870		1,017		17,028
Prepaid expenses and other assets	1		2,596		414		3,011
Total assets	$	37,491	$	230,599	$	22,023	$	290,113
Accounts payable and accrued expenses	$	94	$	456	$	—	$	550
Security deposits payable	75		740		—		815
Lease intangibles	1,382		8,733		1,124		11,239
Other liabilities and deferred credits	22		497		—		519
Total liabilities	$	1,573	$	10,426	$	1,124	$	13,123

We have included the results of operations for One Beach Street, City Center Bellevue and Geary Marketplace in our consolidated statements of income from the date of acquisition. For the period of acquisition through December 31, 2012, One Beach Street contributed $3.9 million to total revenue, $1.0 million to operating expenses, $2.9 million to operating income and $0.6 million to net income. For the period of acquisition through December 31, 2012, City Center Bellevue contributed $7.0 million to total revenue, $1.6 million to operating expenses, $5.4 million to operating income and an insignificant amount to net income. For the period of acquisition through December 31, 2012, Geary Marketplace contributed an insignificant amount to total revenue, expenses, operating income and net income.

Dispositions

On August 30, 2011, we sold Valencia Corporate Center for a sales price of $31.0 million. The property is located in Santa Clarita, California and was previously included in our office segment. The decision to sell Valencia Corporate Center was a result of our desire to focus resources on our core, high-barrier-to-entry markets. The sale was completed as a reverse tax deferred exchange in conjunction with the acquisition of First & Main pursuant to the provisions of Section 1031 of the Code and applicable state revenue and taxation code sections. As a result of the sale, Valencia Corporate Center no longer serves as a borrowing base property under our revolving credit facility.

On December 4, 2012, we sold 160 King Street for a sales price of approximately $93.8 million. The property is located in San Francisco, California and was previously included in our office segment. The decision to sell 160 King Street was a result of our desire to focus resources on our core, high-barrier-to-entry markets. The sale was completed as a reverse tax deferred exchange in conjunction with the acquisition of City Center Bellevue pursuant to the provisions of Section 1031 of the Code and applicable state revenue and taxation code sections. As a result of the sale, 160 King Street no longer serves as a borrowing base property under our revolving credit facility.

We determined that Valencia Corporate Center became a discontinued operation in the third quarter of 2011. We determined that 160 King Street became a discontinued operation in the fourth quarter of 2012. We have, therefore, classified Valencia Corporate Center's and 160 King Street's net assets, liabilities and operating results as discontinued operations on our balance sheets and our statements of income for all periods prior to the sale.

Net revenue and net income from the property's discontinued operations were as follows (in thousands):



	Year Ended December 31,
	2013		2012		2011
Net revenue from discontinued operations	$	—	$	6,734	$	10,133
Results from discontinued operations
Income from discontinued operations	—		932		1,672
Gain on sale of real estate from discontinued operations	—		36,720		3,981
Total income from discontinued operations	$	—	$	37,652	$	5,653

- 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.

+ References+ Details

Acquired In-Place Leases and Above/Below Market Leases (Notes)

12 Months Ended

Dec. 31, 2013

Leases [Abstract]

ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES

The following summarizes our acquired lease intangibles, which are included in other assets and other liabilities and deferred credits (in thousands):



	December 31, 2013			December 31, 2012
In-place leases	$	62,813		$	72,598
Accumulated amortization	(38,279		)	(38,290		)
Above market leases	28,279			32,846
Accumulated amortization	(20,880		)	(21,363		)
Acquired lease intangible assets, net	$	31,933		$	45,791
Below market leases	$	76,502		$	80,071
Accumulated accretion	(28,592		)	(25,721		)
Acquired lease intangible liabilities, net	$	47,910		$	54,350

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) included net amortization from acquired above and below market leases of $2.4 million, $(0.2) million and $(1.1) million in 2013, 2012 and 2011, respectively. The remaining weighted-average amortization period as of December 31, 2013, is 3.8 years, 2.3 years and 8.7 years for in-place leases, above market leases and below market leases, respectively. Below market leases include $21.0 million related to below market renewal options, and the weighted-average period prior to the commencement of the renewal options is 9.9 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):



	Year Ended December 31,
	2013			2012			2011
Amortization of in-place leases	$	(9,120	)	$	(10,248	)	$	(8,859	)
Amortization of above market leases	(4,052		)	(5,739		)	(5,684		)
Amortization of below market leases	6,440			5,502			4,567
Net loss	$	(6,732	)	$	(10,485	)	$	(9,976	)

As of December 31, 2013, the amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows (in thousands):



	In-Place Leases		Above Market Leases		Below Market Leases
Year Ending December 31,
2014	$	5,849	$	2,296	$	4,989
2015	4,777		1,752		4,588
2016	3,958		1,263		4,453
2017	3,193		932		4,097
2018	1,897		628		3,577
Thereafter	4,860		528		26,206
	$	24,534	$	7,399	$	47,910

Marketable Securities (Notes)	12 Months Ended
Marketable Securities (Notes)	Dec. 31, 2013
Investments, Debt and Equity Securities [Abstract]
MARKETABLE SECURITIES	MARKETABLE SECURITIES Our portfolio of marketable securities was comprised of debt securities that were classified as trading securities. Our marketable securities consisted of investments in mortgage-backed securities issued by the Government National Mortgage Association (“GNMA securities”). We reported our trading securities at fair value, using prices provided by independent market participants that are based on observable inputs using market-based valuation techniques (Level 2 of the fair value hierarchy-see Note 5). On August 20, 2012, we sold all of our outstanding GNMA securities with a realized loss of $0.7 million for the year ended December 31, 2012. For the year ended December 31, 2011, gains and losses resulting from the mark-to-market of these securities were recognized as unrealized gains or losses in income. Unrealized (losses) and gains in our statement of income for the year ended December 31, 2011 were $0.1 million and included in other income (expense).

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

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+ Details

Fair Value of Financial Instruments (Notes)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability. The hierarchy for inputs used in measuring fair value is as follows:


1.	Level 1 Inputs—quoted prices in active markets for identical assets or liabilities


2.	Level 2 Inputs—observable inputs other than quoted prices in active markets for identical assets and liabilities


3.	Level 3 Inputs—unobservable inputs

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 GNMA securities and our deferred compensation liability. We measure the fair values of these assets and liability 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, 2013 and 2012. 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. The Company validates the valuations received from its primary pricing vendors for its level 2 securities by examining the inputs used in that vendor's pricing process and determines whether they are reasonable and observable. The Company also compares those valuations to recent reported trades for those securities. The Company did not adjust any of the valuations received from these third parties with respect to any of its level 2 securities at December 31, 2013 and 2012.

A summary of our financial liabilities that are measured at fair value on a recurring basis by level within the fair value hierarchy is as follows (in thousands):



	December 31, 2013								December 31, 2012
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Deferred compensation liability	$	—	$	769	$	—	$	769	$	—	$	637	$	—	$	637

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 3.75% to 5.71%.

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. A summary of the carrying amount and fair value of our financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands):



	December 31, 2013		December 31, 2012
	Carrying Value	Fair Value	Carrying Value	Fair Value
Secured notes payable	952,174	990,296	1,044,682	1,116,162
Line of credit	93,000	93,000	—	—

- 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.

+ References+ Details

Debt (Notes)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

DEBT

The following is a summary of our total secured notes payable outstanding as of December 31, 2013 and December 31, 2012 (in thousands):



Description of Debt	Principal Balance as of						Stated Interest Rate		Stated Maturity Date
Description of Debt	December 31, 2013			December 31, 2012			as of December 31, 2013		Stated Maturity Date
Alamo Quarry Market ⁽¹⁾	$	—		$	93,942
Waikele Center ⁽³⁾	140,700			140,700			5.15	%	November 1, 2014
The Shops at Kalakaua ⁽³⁾	19,000			19,000			5.45	%	May 1, 2015
The Landmark at One Market ⁽²⁾⁽³⁾	133,000			133,000			5.61	%	July 5, 2015
Del Monte Center ⁽³⁾	82,300			82,300			4.93	%	July 8, 2015
First & Main ⁽³⁾	84,500			84,500			3.97	%	July 1, 2016
Imperial Beach Gardens ⁽³⁾	20,000			20,000			6.16	%	September 1, 2016
Mariner’s Point ⁽³⁾	7,700			7,700			6.09	%	September 1, 2016
South Bay Marketplace ⁽³⁾	23,000			23,000			5.48	%	February 10, 2017
Waikiki Beach Walk—Retail ⁽³⁾	130,310			130,310			5.39	%	July 1, 2017
Solana Beach Corporate Centre III-IV	36,804			37,204			6.39	%	August 1, 2017
Loma Palisades ⁽³⁾	73,744			73,744			6.09	%	July 1, 2018
One Beach Street ⁽³⁾	21,900			21,900			3.94	%	April 1, 2019
Torrey Reserve—North Court ⁽¹⁾	21,377			21,659			7.22	%	June 1, 2019
Torrey Reserve—VCI, VCII, VCIII ⁽¹⁾	7,200			7,294			6.36	%	June 1, 2020
Solana Beach Corporate Centre I-II ⁽¹⁾	11,475			11,637			5.91	%	June 1, 2020
Solana Beach Towne Centre ⁽¹⁾	38,249			38,790			5.91	%	June 1, 2020
City Center Bellevue ⁽³⁾	111,000			111,000			3.98	%	November 1, 2022
Total	962,259			1,057,680
Unamortized fair value adjustment	(10,085		)	(12,998		)
Total Secured Notes Payable Balance	$	952,174		$	1,044,682


(1)	Principal payments based on a 30-year amortization schedule.


(2)	Maturity Date is the earlier of the loan maturity date under the loan agreement, or the “Anticipated Repayment Date” as specifically defined in the loan agreement, which is the date after which substantial economic penalties apply if the loan has not been paid off.


(3)	Interest only.

On October 10, 2012, we entered into a ten-year non-recourse mortgage loan with PNC Bank, National Association with an original principal amount of $111.0 million. The loan is secured by a first-priority deed of trust on City Center Bellevue and an assignment of all leases, rents and security deposits relating to City Center Bellevue. The loan has a maturity date of November 1, 2022, bears interest at a fixed rate per annum of 3.98% and is interest only.

On March 29, 2012, we entered into a seven-year non-recourse mortgage loan with PNC Bank, National Association with an original principal amount of $21.9 million. The loan is secured by a first-priority deed of trust on One Beach Street and an assignment of all leases, rents and security deposits relating to One Beach Street. The loan has a maturity date of April 1, 2019, bears interest at a fixed rate per annum of 3.94% and is interest only.

Certain loans require us to comply with various financial covenants, including the maintenance of minimum debt coverage ratios. As of December 31, 2013, we were in compliance with all loan covenants.

Scheduled principal payments on notes payable as of December 31, 2013 are as follows (in thousands):



2014	$	142,276
2015	235,980
2016	113,974
2017	190,139
2018	75,224
Thereafter	204,666
	$	962,259

Credit Facility

On January 19, 2011, upon completion of our Offering, we entered into a revolving credit facility, or the credit facility. A group of lenders for which an affiliate of Merrill Lynch, Pierce, Fenner & Smith Incorporated acts as administrative agent and joint arranger, and an affiliate of Wells Fargo Securities, LLC acts as syndication agent and joint arranger, provided commitments for a revolving credit facility allowing borrowings of up to $250.0 million. At December 31, 2013, our maximum allowable borrowing amount was $222.3 million, of which $93.0 million was outstanding. The credit facility also had an accordion feature that allowed us to increase the availability thereunder up to a maximum of $400.0 million, subject to meeting specified requirements and obtaining additional commitments from lenders. The credit facility bore interest at the rate of either LIBOR or a base rate, in each case plus a margin that varied depending on our leverage ratio. At December 31, 2013, the interest rate on our outstanding credit facility was 1.8%. For the year ended December 31, 2013, we incurred approximately $0.4 million of interest expense on amounts drawn on our credit facility. The amount available for us to borrow under the credit facility was subject to the net operating income of our properties that form the borrowing base of the facility and a minimum implied debt yield of such properties.

On March 7, 2011, the credit facility was amended to allow us or our Operating Partnership to purchase GNMA securities with maturities of up to 30 years. On January 10, 2012, the credit facility was amended a second time to (1) extend the maturity date to January 10, 2016 (with a one-year extension option), (2) decrease the applicable interest rates and (3) modify certain financial covenants contained therein. On September 7, 2012, the credit facility was amended a third time to allow our consolidated total secured indebtedness to be up to 55% of our secured total asset value for the period commencing upon the date that a material acquisition (generally, greater than $100 million) was consummated through and including the last day of the third fiscal quarter that followed such date.

The amended credit facility included a number of customary financial covenants, including:


•	a maximum leverage ratio (defined as total indebtedness net of certain unrestricted cash and cash equivalents to total asset value) of 60%,


•	a minimum fixed charge coverage ratio (defined as consolidated earnings before interest, taxes, depreciation and amortization to consolidated fixed charges) of 1.50x,


•	a maximum secured leverage ratio (defined as total secured indebtedness to secured total asset value) of up to 55% in circumstances,


•	a minimum tangible net worth equal to at least 75% of our tangible net worth at January 19, 2011, plus 85% of the net proceeds of any additional equity issuances (other than additional equity issuances in connection with any dividend reinvestment program), and


•	a $35.0 million limit on the maximum principal amount of recourse indebtedness we may have outstanding at any time, other than under the credit facility.

The credit facility provided that our annual distributions may not exceed the greater of (1) 95.0% of our funds from operations 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 existed or resulted from a distribution, we would have been precluded from making distributions other than those necessary to qualify and maintain our status as a REIT.

We and certain of our subsidiaries guaranteed the obligations under the credit facility, and certain of our subsidiaries pledged specified equity interests in our subsidiaries as collateral for our obligations under the credit facility.

As of December 31, 2013, we were in compliance with all then in-place credit facility covenants.

On January 9, 2014, we entered into an amended and restated credit agreement, 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, or the revolver loan, and a term loan of $100 million, or the term loan. The 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.

Borrowings under the 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) 1.35%-1.95% (with respect to the revolver loan) and (b) 1.30% to 1.90% (with respect to the term loan), 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 revolver loan) and (ii) 0.30% to 0.90% (with respect to the term loan), in each case based on our consolidated leverage ratio. The foregoing rates are more favorable than previously contained in the credit agreement in place as of December 31, 2013. If we obtain an investment-grade debt rating, under the terms set forth in the amended and restated credit facility, the spreads will further improve.

The revolver loan initially matures on January 9, 2018, subject to our option to extend the revolver loan up to two times, with each such extension for a six-month period. The term loan initially matures on January 9, 2016, subject to our option to extend the term loan up to three times, with each such extension for a 12-month period. The foregoing extension options are exercisable by us subject to the satisfaction of certain conditions.

Concurrent with the closing of the amended and restated credit facility, we drew down on the entirety of the $100 million term loan and entered into an interest rate swap agreement that is intended to fix the interest rate associated with the term loan at approximately 3.08% through its maturity date and extension options, subject to adjustments based on our consolidated leverage ratio.

Additionally, the amended and restated credit facility includes a number of customary financial covenants, including:


•	A maximum leverage ratio (defined as total indebtedness net of certain cash and cash equivalents to total asset value) of 60%, and during any material acquisition period the maximum leverage ratio allowable is 65%,


•	A maximum secured leverage ratio (defined as total secured debt to secured total asset value) of 45% at any time prior to December 31, 2015, and 40% thereafter, during a material acquisition period the maximum secured leverage ratio is increased to 50% at any time prior to December 31, 2015 and 45% thereafter,


•	A minimum fixed charge coverage ratio (defined as consolidated earnings before interest, taxes, depreciation and amortization to consolidated fixed charges) of 1.50x,


•	A minimum unsecured interest coverage ratio of 1.75x,


•	A maximum unsecured leverage ratio of 60%, and during any material acquisition period the maximum unsecured leverage ratio allowable is 65%,


•	A minimum tangible net worth of $721.16 million, and 75% of the net proceeds of any additional equity issuances (other than additional equity issuances in connection with any dividend reinvestment program), and


•	Recourse indebtedness at any time cannot exceed 15% of total asset value.

The amended and restated credit facility provides that our 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.

- 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.

+ References+ Details

Equity (Notes)

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

EQUITY

Stockholders' Equity

On May 6, 2013, we entered into an at-the-market (“ATM”) equity program with four sales agents in 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. 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 three months ended December 31, 2013, we issued 22,738 shares of common stock through the ATM equity program at a weighted average price per share of $32.25 for gross proceeds of $0.7 million and paid $0.01 million in sales agent compensation and $0.1 million in additional offering expenses related to the sales of these shares of common stock. For the year ended December 31, 2013, we issued 741,452 shares of common stock through the ATM equity program at a weighted average price per share of $35.00 for gross proceeds of $26.0 million and paid $0.3 million in sales agent compensation and $0.8 million in additional offering expenses related to the sales of these shares of common stock. As of December 31, 2013, we had the capacity to issue up to an additional $124.0 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 ATM equity program.

Noncontrolling Interests

Noncontrolling interests in our Operating Partnership are interests in the Operating Partnership that are not owned by us. Noncontrolling interests consisted of 17,917,109 common units (the “noncontrolling common units”), and represented approximately 31% of the ownership interests in our Operating Partnership at December 31, 2013. Common units and shares of our common stock have essentially the same economic characteristics in that common units and shares of our common stock share equally in the total net income or loss distributions of our Operating Partnership. Investors who own common units have the right to cause our Operating Partnership to redeem any or all of their common units for cash equal to the then-current market value of one share of our common stock, or, at our election, shares of our common stock on a one-for-one basis.

On February 14, 2011, we completed a private placement transaction of 251,050 common units for approximately $5.4 million.

During the years ended December 31, 2013 and 2012, 106,236 and 372,654, respectively, common units were converted into shares of our common stock. During the year ended December 31, 2011, no common units were converted into shares of our common stock.

Preferred Stock Authorized Shares

We have 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, 2013. 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, 2013, 2012 and 2011:



Period	Amount per Share/Unit		Period Covered	Dividend Paid Date
First Quarter 2011	$	0.17	January 19, 2011 to March 31, 2011	March 31, 2011
Second Quarter 2011	$	0.21	April 1, 2011 to June 30, 2011	June 30, 2011
Third Quarter 2011	$	0.21	July 1, 2011 to September 30, 2011	September 30, 2011
Fourth Quarter 2011	$	0.21	October 1, 2011 to December 31, 2011	December 29, 2011
First Quarter 2012	$	0.21	January 1, 2012 to March 31, 2012	March 30, 2012
Second Quarter 2012	$	0.21	April 1, 2012 to June 30, 2012	June 29, 2012
Third Quarter 2012	$	0.21	July 1, 2012 to September 30, 2012	September 28, 2012
Fourth Quarter 2012	$	0.21	October 1, 2012 to December 31, 2012	December 28, 2012
First Quarter 2013	$	0.21	January 1, 2013 to March 31, 2013	March 29, 2013
Second Quarter 2013	$	0.21	April 1, 2013 to June 30, 2013	June 28, 2013
Third Quarter 2013	$	0.21	July 1, 2013 to September 30, 2013	September 27, 2013
Fourth Quarter 2013	$	0.22	October 1, 2013 to December 31, 2013	December 27, 2013

Taxability of Dividends

Earnings and profits, which determine the taxability of distributions to stockholders and holders of common units, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of loss on extinguishment of debt, revenue recognition and compensation expense and in the basis of depreciable assets and estimated useful lives used to compute depreciation. A summary of the income tax status of dividends per share paid is as follows:



	Year Ended December 31,
	2013				2012				2011
	Per Share		%		Per Share		%		Per Share		%
Ordinary income	$	0.83	97.6	%	$	0.56	66.7	%	$	0.22	27.5	%
Return of capital	0.02		2.4	%	0.28		33.3	%	0.58		72.5	%
Total	$	0.85	100.0	%	$	0.84	100.0	%	$	0.80	100.0	%

Stock-Based Compensation

In connection with Offering, we adopted our 2011 Equity Incentive Award Plan (“2011 Plan”). The 2011 Plan 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, 2013, 3,425,353 shares of common stock remain available for future issuance.

Concurrently with the closing of the Offering, we made grants of restricted shares of our common stock to certain executive officers under the 2011 Plan. At such time, we granted to such executive officers a total of 198,000 shares that are subject to timing-based vesting and 297,000 shares that are subject to performance-based vesting, with fair market values of $4.1 million for the timing-based vesting awards and $3.9 million for the performance-based vesting awards. Those awards subject to time-based vesting vest, subject to the recipient's continued employment, in two substantially equal installments. The first installment vested on the third anniversary of the date of grant and the second installment will vest on the fourth anniversary of the date of grant. The vesting of those restricted stock awards subject to performance-based vesting was based on the achievement of absolute and relative total stockholder return hurdles over a three-year performance period, commencing on January 19, 2011. Following the completion of the three-year performance period, our compensation committee determined the number of shares to which the executive officer was entitled based on our performance relative to the performance hurdles set forth in the restricted stock award agreement he entered into in connection with his initial award grant. These shares then vest in two substantially equal installments, with the first installment vested on the third anniversary of the date of grant and the second installment vesting on the fourth anniversary of the date of grant, subject to the executive officer's continued employment on those dates.

Concurrently with the closing of the Offering, we also granted each of our non-employee directors 1,951 restricted shares of our common stock pursuant to the 2011 Plan. These awards of restricted stock vested ratably as to one-third of the shares granted on each of the first three anniversaries of the date of grant, subject to the director's continued service on our board of directors, and had an aggregate fair value of $0.2 million on the date of the grants.

We granted each of our non-employee directors restricted shares of our common stock pursuant to the 2011 Plan, either concurrently with the closing of the Offering or at the time the director was formally appointed to our board of directors (the "Board"). Additionally, on June 13, 2013 and July 10, 2012, we granted a total of 5,004 and 8,015 restricted shares of our common stock, respectively, to members of our Board. These awards of restricted stock will vest ratably as to one-third of the shares granted on each of the first three anniversaries of the date of grant, subject to the director’s continued service on our Board pursuant to our independent director compensation policy.

On March 16, 2011, we granted a total of 123,950 restricted shares of our common stock to certain other employees pursuant to the 2011 Plan with a fair value of $1.6 million. These shares are subject to performance-based vesting, with the terms described above related to performance-based vesting.

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, 2013:



	2013
	Units		Weighted Average Grant Date Fair Value
Balance at beginning of year	633,222		$	15.64
Granted	5,004		31.97
Vested	(4,737	)	22.55
Forfeited	(4,431	)	19.38
Balance at end of year	629,058		$	15.58

We recognize noncash compensation expense ratably over the vesting period, and accordingly, we recognized $2.8 million, $2.9 million and $2.6 million in noncash compensation expense for the years ended December 31, 2013, 2012 and 2011, each of which is included in general and administrative expense on the statement of income. Unrecognized compensation expense was $1.6 million at December 31, 2013, which will be recognized over a weighted-average period of 0.6 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, 2013, 2012 and 2011, we had a weighted average of approximately 630,130, 629,493 and 578,489 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, 2013, 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.

The computation of basic and diluted EPS is presented below (dollars in thousands, except share and per share amounts):



	Year Ended December 31,
	2013			2012			2011
NUMERATOR
Income from continuing operations	$	22,594		$	13,949		$	13,671
Less: Net income attributable to restricted shares	(536		)	(529		)	(482		)
Plus: Loss from continuing operations attributable to Predecessor's noncontrolling interests in consolidated real estate entities	—			—			2,455
Less: Income from continuing operations attributable to Predecessor's controlled owners' equity	—			—			(16,962		)
Plus: (Income) loss from continuing operations attributable to unitholders in the Operating Partnership	(6,838		)	(4,239		)	425
Income (loss) from continuing operations attributable to American Assets Trust, Inc. common stockholders—basic	15,220			9,181			(893		)
Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders	—			25,758			3,810
Net income attributable to common stockholders—basic	$	15,220		$	34,939		$	2,917
Income (loss) from continuing operations attributable to American Assets Trust, Inc. common stockholders—basic	$	15,220		$	9,181		$	(893	)
Less: Income (loss) from continuing operations attributable to unitholders in the Operating Partnership	6,838			4,239			(425		)
Income (loss) from continuing operations attributable to common stockholders—diluted	22,058			13,420			(1,318		)
Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders	—			25,758			3,810
Plus: Results from discontinued operations attributable to unitholders in the Operating Partnership	—			11,894			1,813
Net income attributable to common stockholders—diluted	$	22,058		$	51,072		$	4,305
DENOMINATOR
Weighted average common shares outstanding—basic	39,539,457			38,736,113			36,748,806
Effect of dilutive securities—conversion of Operating Partnership units	17,976,353			18,317,796			17,471,001
Weighted average common shares outstanding—diluted	57,515,810			57,053,909			54,219,807
Earnings (loss) per common share—basic
Continuing operations	$	0.38		$	0.24		$	(0.02	)
Discontinued operations	—			0.66			0.10
	$	0.38		$	0.90		$	0.08
Earnings (loss) per common share—diluted
Continuing operations	$	0.38		$	0.24		$	(0.02	)
Discontinued operations	—			0.66			0.10
	$	0.38		$	0.90		$	0.08

Income Taxes (Notes)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

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 (asset)/liability is included in our consolidated balance sheets of $(0.1) million and $0.3 million as of December 31, 2013 and 2012, 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):



	Year Ended December 31, 2013			Year Ended December 31, 2012		Year Ended December 31, 2011
Current:
Federal	$	370		$	361	$	483
State	362			335		90
Deferred:
Federal	$	(47	)	$	118	$	—
State	(40		)	202		—
Provision for income taxes	$	645		$	1,016	$	573

- 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.

+ References+ Details

Commitments and Contingencies (Notes)

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

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

At The Landmark at One Market, we lease, as lessee, a building adjacent to The Landmark under an operating lease effective through June 30, 2016, which we have the option to extend until 2026 by way of two five-year extension options.

At Waikiki Beach Walk, we sublease a portion of the building of which Quiksilver is currently in possession, under an operating lease effective through December 31, 2021, which we have the option to extend at fair rental value in the event the sublessor extends its lease for the space with the master landlord. The lease payments under the lease will increase by approximately 3.4% annually through 2017 and, thereafter, will be equal to fair rental value, as defined in the lease, through lease expiration.

Current minimum annual payments under the leases are as follows, as of December 31, 2013 (in thousands):



2014	$	2,569
2015	2,636
2016	1,709
2017	736		⁽¹⁾
2018	740
Thereafter	2,221
Total	$	10,611


(1)	Lease payments on the Waikiki Beach Walk lease will be equal to fair rental value from March 2017 through the end of the lease term. In the table, we have shown the lease payments for this period based on the stated rate for the month of February 2017 of $61,690.

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 calendar 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 $6.4 million based on operating performance through December 31, 2013.

In connection with our acquisition of Lloyd District Portfolio, we entered into a property management agreement with Ashforth Pacific, Inc., which was subsequently assigned to Langley Investment Properties, Inc. (“Langley”). Pursuant to the property management agreement, Langley manages and operates Lloyd District Portfolio, and we pay Langley a monthly management fee of 3.5% of “gross receipts,” as defined in the property management agreement, as well as leasing commissions and construction oversight fees in certain situations. The property management agreement is for an initial term of two years, with three one-year renewal options, exercisable by us in our sole discretion. The property management agreement may not be terminated by us or by Langley without cause during the initial term, except by mutual consent of both parties. On February 1, 2013, we agreed to terminate our property management agreement with Langley.

Our Del Monte Center property has ongoing environmental remediation related to ground water contamination. The environmental issue existed at purchase and remediation is expected to conclude within the next three years. The work performed is financed through an escrow account funded by the seller upon purchase of the property. 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.

In connection with the Offering, we entered into tax protection agreements with certain limited partners of our Operating Partnership. These agreements provide that if we dispose of any interest with respect to Carmel Country Plaza, Carmel Mountain Plaza, Del Monte Center, Loma Palisades, Lomas Santa Fe Plaza, Waikele Center or the ICW Plaza portion of Torrey Reserve Campus, in a taxable transaction during the period from the closing of the Offering through January 19, 2018, we will indemnify such limited partners for their tax liabilities attributable to their share of the built-in gain that existed with respect to such property interest as of the time of the Offering and tax liabilities incurred as a result of the reimbursement payment. Subject to certain exceptions and limitations, the indemnification rights will terminate for any such protected partner that sells, exchanges or otherwise disposes of more than 50% of his or her common units. We have no present intention to sell or otherwise dispose of the properties or interest therein in taxable transactions during the restriction period. If we were to trigger the tax protection provisions under these agreements, we would be required to pay damages in the amount of the taxes owed by these limited partners (plus additional damages in the amount of the taxes incurred as a result of such payment).

As of December 31, 2013, the Company accrued approximately $6.6 million for transfer taxes that the Company expected to incur on its California properties in connection with its Offering. The Company believes that it has filed all necessary forms with the requisite taxing authorities, but can offer no assurances that the taxing authorities will agree with the Company's estimate above.

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. Twelve of our consolidated properties, representing 28.7% of our total revenue for the year ended December 31, 2013, 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 21.5% of total revenues for the year ended December 31, 2013.

Tenants in the retail industry accounted for 36.6% and 39.1% of total revenues for the years December 31, 2013 and 2012, 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 15.8% and 17.1% of total revenues for the years ended December 31, 2013 and 2012, respectively.

Tenants in the office industry accounted for 35.5% and 33.2% of total revenues for the years December 31, 2013 and 2012, 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, 2013 and 2012, no tenant accounted for more than 10% of our total rental revenue. At December 31, 2013, salesforce.com, inc. at The Landmark at One Market accounted for 7.9% of total annualized base rent. Five other tenants (Autodesk, Inc., Lowe's, Kmart, Veterans Benefits Administration, and Foodland Super Market) comprise 12.1% of our total annualized base rent at December 31, 2013, 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, 2013 for our office properties, retail properties and the retail portion of our mixed-use property.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Operating Leases (Notes)

12 Months Ended

Dec. 31, 2013

Leases, Operating [Abstract]

OPERATING LEASES

At December 31, 2013, our retail, office and mixed-use properties are located in five states: California, Oregon, Hawaii, Washington and Texas. At December 31, 2013, we had approximately 818 leases with office and retail tenants, including the retail portion of our mixed-use property. Our multifamily properties are located in Southern California, and we had approximately 783 leases with residential tenants at December 31, 2013, excluding Santa Fe Park RV Resort.

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 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 and also may include percentage rents based on the tenant's level of sales achieved. Leases on apartments generally range from seven to fifteen months, with a majority having 12 month lease terms. Rooms at the hotel portion of our mixed-use property are rented on a nightly basis.

As of December 31, 2013, 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):



2014	$	153,059
2015	145,172
2016	125,696
2017	108,442
2018	76,315
Thereafter	146,522
Total	$	755,206

The above future minimum rentals exclude residential leases, which are typically range from seven to 15 months, and exclude the hotel, as rooms are rented on a nightly basis.

- Definition

The entire disclosure for operating leases of a lessor. This may include a general description of lessor's leasing arrangements for operating leases, including the basis on which contingent rental payments are determined, the existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions.

+ References+ Details

Component of Rental Income and Expense (Notes)

12 Months Ended

Dec. 31, 2013

Operating Leases, Income Statement, Lease Revenue [Abstract]

COMPONENTS OF RENTAL INCOME AND EXPENSE

The principal components of rental income are as follows (in thousands):



	Year Ended December 31,
	2013		2012		2011
Minimum rents
Retail	$	69,374	$	67,046	$	63,996
Office	81,845		71,817		53,457
Multifamily	14,926		13,796		13,246
Mixed-Use	9,549		8,893		8,478
Cost reimbursement	27,583		27,763		24,463
Percentage rent	2,655		2,608		1,967
Hotel revenue	35,137		31,729		27,125
Other	1,688		1,597		1,436
Total rental income	$	242,757	$	225,249	$	194,168

Minimum rents include $2.6 million, $7.2 million and $4.8 million for the years ended December 31, 2013, 2012 and 2011, respectively, to recognize minimum rents on a straight-line basis. In addition, minimum rents include $2.4 million, $(0.2) million and $(1.1) million for the years ended December 31, 2013, 2012 and 2011, respectively, to recognize the amortization of above and below market leases.

The principal components of rental expenses are as follows (in thousands):



	Year Ended December 31,
	2013		2012		2011
Rental operating	$	26,028	$	24,264	$	22,008
Hotel operating	22,115		20,905		18,885
Repairs and maintenance	10,514		9,452		8,082
Marketing	1,547		1,266		1,390
Rent	2,442		2,378		2,767
Hawaii excise tax	4,153		3,813		3,379
Management fees	1,809		2,011		1,622
Total rental expenses	$	68,608	$	64,089	$	58,133

Other Income (Expenses) (Notes)

12 Months Ended

Dec. 31, 2013

Other Income and Expenses [Abstract]

OTHER INCOME (EXPENSE)

The principal components of other income (expense), net are as follows (in thousands):



	Year Ended December 31,
	2013			2012			2011
Interest and investment income	$	148		$	336		$	1,621
Income tax expense	(645		)	(1,016		)	(831		)
Loss from real estate joint ventures	—			—			(188		)
Acquisition related expenses	—			(152		)	(434		)
Fee income from real estate joint ventures	—			—			44
Other non-operating income	10			203			—
Total other income (expense)	$	(487	)	$	(629	)	$	212

Related Party Transactions (Notes)

12 Months Ended

Dec. 31, 2013

RELATED PARTY TRANSACTIONS

Prior to the Offering, we acted as the manager for certain unconsolidated real estate joint ventures and earned fees for these services (excluding Waikiki Beach Walk). Each unconsolidated joint venture (excluding Waikiki Beach Walk) had a master management agreement with additional agreements covering property management, construction management, acquisition, disposition and leasing and asset management. These agreements provided for the following fees to be paid to us by these unconsolidated joint ventures:


•	Property Management Fees-Property management fees were incurred for the operation and management of the properties. Fees ranged from 1.25% to 5.5% of gross monthly cash collections each month, with minimum monthly fees ranging from $2,500 to $5,000.

•

Construction Management Fees-Construction management fees were incurred for the management and supervision of construction projects owned by the unconsolidated joint ventures. Fees ranged from 3.0% to 5.0% of construction and development costs on buildings and improvements for most properties although certain agreements provided for a flat fee. For tenant improvements, fees were 10.0% of costs for projects where we directly supervised construction subcontractors or 3.0% for projects where we managed a general contractor, plus hourly fees for employees directly working on the tenant improvements.


•	Acquisition and Disposition Fees-Acquisition and disposition fees were incurred for services provided in conjunction with acquisition and disposition of the properties owned by the unconsolidated real estate joint ventures. Fees were either 0.5% or 1.0% of the total value of all the acquisitions or dispositions.


•	Leasing Fees-Leasing fees were incurred for services provided to procure tenants for the properties owned by the unconsolidated joint ventures. Fees were 1.0% of the total value of all leases executed for the properties, including new leases, renewals, extensions or other modifications.

•

Asset Management Fees/Financing Fees-Asset management fees were incurred for evaluating property value, performance and/or condition, appealing property assessments or tax valuations, recommending ways to enhance value and procuring financing. The fees were charged at hourly rates ranging from $40 to $125 for asset management services. In addition, financing fees were paid for any permanent financing placed on the properties, with fees of either 25 to 50 basis points of the financed amount or a flat fee of $50,000.

In addition to the fees noted above, certain unconsolidated joint ventures also reimbursed us for monthly maintenance and facilities management services provided to the properties owned by the unconsolidated joint ventures.

Fees earned by us from the unconsolidated joint ventures, which are included in other income (expense), net, are as follows (in thousands):



	Year Ended December 31,
	2013		2012		2011
Property management fees	$	—	$	—	$	38
Maintenance reimbursements	—		—		6
	$	—	$	—	$	44

Subsequent to the Offering, we no longer earn fees from unconsolidated joint ventures.

Certain affiliated entities made loans to an affiliate in order to attain a higher return on excess cash balances, and these loans were classified as notes receivable from affiliate. The notes bore interest at LIBOR and were to be repaid upon demand. The notes receivable were settled as part of the Offering. A summary of the outstanding notes receivable from affiliate balances and related interest income are as follows (in thousands):



	As of and for the year ended December 31,
	2013		2012		2011
Notes receivable from affiliate	$	—	$	—	$	—
Interest income	$	—	$	—	$	3

We received unsecured loans on January 15, 2008, from certain of the entities that own Del Monte Center, for $12.0 million, the proceeds of which were used to fund construction at the property. The notes bore interest at 10.0% and required monthly principal and interest payments until maturity on March 1, 2013. The notes were classified as notes payable to affiliates. The notes were repaid using proceeds from the Offering or were otherwise settled in connection with the Offering.

At ICW Plaza, we lease space to Insurance Company of the West, which is under the indirect control of Ernest Rady, our Executive Chairman of the Board. Rental revenue recognized on the leases of $2.2 million, $2.1 million and $2.3 million for the years ended December 31, 2013, 2012 and 2011, respectively, is included in rental income. In May 2011, the lease agreement at ICW Plaza was amended to terminate the lease of approximately 12,000 square feet and reduce base rent on one suite in line with market rent. Additionally, we leased space to Insurance Company of the West at Valencia Corporate Center until the sale of Valencia Corporate Center on August 30, 2011, and rental revenue recognized on these leases of $0.0 million, $0.0 million and $1.2 million for the years ended December 31, 2013, 2012 and 2011, respectively, is included in discontinued operations.

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, $1.0 million and $1.0 million were made for years ended December 31, 2013, 2012 and 2011 and included in rental expenses on the statements of income.

- 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.

+ References+ Details

Segment Reporting (Notes)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

SEGMENT REPORTING

Segment information is prepared on the same basis that our management reviews information for operational decision-making purposes. We review operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. However, we have aggregated our properties into reportable segments as the properties share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies.

We operate in four business segments: the acquisition, redevelopment, ownership and management of retail real estate, office real estate, multifamily real estate and mixed-use real estate. The products for our retail segment primarily include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our multifamily segment include rental of apartments and other tenant services. The products of our mixed-use segment include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental and operation of a 369-room all-suite hotel.

We evaluate the performance of our segments based on segment profit which is defined as property revenue less property expenses. We do not use asset information as a measure to assess performance and make decisions to allocate resources. Therefore, depreciation and amortization expense is not allocated among segments. General and administrative expenses, interest expense, depreciation and amortization expense and other income and expense are not included in segment profit as our internal reporting addresses these items on a corporate level.

Segment profit is not a measure of operating income or cash flows from operating activities as measured by GAAP, and it is not indicative of cash available to fund cash needs and should not be considered an alternative to cash flows as a measure of liquidity. Not all companies calculate segment profit in the same manner. We consider segment profit to be an appropriate supplemental measure to net income because it assists both investors and management in understanding the core operations of our properties.

The following table represents operating activity within our reportable segments (in thousands):



	Year Ended December 31,
	2013			2012			2011
Total Retail
Property revenue	$	93,449		$	91,991		$	86,511
Property expense	(23,900		)	(24,955		)	(24,512		)
Segment profit	69,549			67,036			61,999
Total Office
Property revenue	90,527			78,101			57,319
Property expense	(26,688		)	(23,780		)	(18,015		)
Segment profit	63,839			54,321			39,304
Total Multifamily
Property revenue	16,125			14,852			14,321
Property expense	(5,917		)	(5,914		)	(5,578		)
Segment profit	10,208			8,938			8,743
Total Mixed-Use
Property revenue	54,956			50,522			44,634
Property expense	(33,481		)	(31,465		)	(28,774		)
Segment profit	21,475			19,057			15,860
Total segments’ profit	$	165,071		$	149,352		$	125,906

The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands):



	Year Ended December 31,
	2013			2012			2011
Total segments' profit	$	165,071		$	149,352		$	125,906
General and administrative	(17,195		)	(15,593		)	(13,627		)
Depreciation and amortization	(66,775		)	(61,853		)	(55,936		)
Interest expense	(58,020		)	(57,328		)	(54,580		)
Early extinguishment of debt	—			—			(25,867		)
Loan transfer and consent fees	—			—			(8,808		)
Gain on acquisition	—			—			46,371
Other income (expense), net	(487		)	(629		)	212
Income from continuing operations	22,594			13,949			13,671
Discontinued operations
Income from discontinued operations	—			932			1,672
Gain on sale of real estate property	—			36,720			3,981
Results from discontinued operations	—			37,652			5,653
Net income	22,594			51,601			19,324
Net income attributable to restricted shares	(536		)	(529		)	(482		)
Net loss attributable to Predecessor's noncontrolling interests in consolidated real estate entities	—			—			2,458
Net income attributable to Predecessor's controlled owners' equity	—			—			(16,995		)
Net income attributable to unitholders in the Operating Partnership	(6,838		)	(16,133		)	(1,388		)
Net income attributable to American Assets Trust, Inc. stockholders	$	15,220		$	34,939		$	2,917

The following table shows net real estate and secured note payable balances for each of the segments, along with their capital expenditures for each year (in thousands):



	December 31, 2013		December 31, 2012
Net real estate
Retail	$	651,707	$	669,177
Office	790,153		759,203
Multifamily	35,349		36,391
Mixed-Use	199,627		203,411
	$	1,676,836	$	1,668,182
Secured Notes Payable ⁽¹⁾
Retail	$	303,249	$	397,732
Office	427,256		428,194
Multifamily	101,444		101,444
Mixed-Use	130,310		130,310
	$	962,259	$	1,057,680
Capital Expenditures ⁽²⁾
Retail	$	4,849	$	14,211
Office	27,275		22,136
Multifamily	24,641		964
Mixed-Use	1,942		727
	$	58,707	$	38,038


(1)	Excludes unamortized fair market value adjustment of $10.1 million and $13.0 million as of December 31, 2013 and 2012, respectively.


(2)	Capital expenditures represent cash paid for capital expenditures during the year and include leasing commissions paid.

- 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.

+ References

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+ Details

Quarterly Financial Information (Unaudited) (Notes)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The tables below reflect selected quarterly information for 2013 and 2012 (in thousands):



	Three Months Ended
	December 31, 2013			September 30, 2013			June 30, 2013			March 31, 2013
Total revenue	$	64,645		$	65,318		$	62,914		$	62,180
Operating income	20,407			21,441			19,373			19,880
Net income	6,907			6,258			4,564			4,865
Net income attributable to restricted shares	(139		)	(132		)	(133		)	(132		)
Net income attributable to unitholders in the Operating Partnership	(2,086		)	(1,903		)	(1,354		)	(1,495		)
Net income attributable to American Assets Trust, Inc. stockholders	$	4,682		$	4,223		$	3,077		$	3,238
Net income from continuing operations attributable to common stockholders - basic and diluted	$	0.11		$	0.11		$	0.08		$	0.08
Net income attributable to common stockholders - basic and diluted	$	0.11		$	0.11		$	0.08		$	0.08

	Three Months Ended
	December 31, 2012			September 30, 2012			June 30, 2012			March 31, 2012
Total revenue	$	63,120		$	60,766		$	56,131		$	55,449
Operating income	20,247			18,206			16,641			16,812
Income from continuing operations	4,822			3,968			2,396			2,763
Results from discontinued operations	36,999			317			228			108
Net income	41,821			4,285			2,624			2,871
Net income attributable to restricted shares	(133		)	(133		)	(131		)	(132		)
Net income attributable to unitholders in the Operating Partnership	(13,111		)	(1,335		)	(804		)	(883		)
Net income attributable to American Assets Trust, Inc. stockholders	$	28,577		$	2,817		$	1,689		$	1,856
Net income from continuing operations attributable to common stockholders- basic and diluted	$	0.08		$	0.07		$	0.04		$	0.05
Net income from discontinued operations attributable to common stockholders - basic and diluted	$	0.65		$	0.01		$	—		$	—
Net income attributable to common stockholders - basic and diluted	$	0.73		$	0.08		$	0.04		$	0.05

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References+ Details

Subsequent Events (Notes)	12 Months Ended
Subsequent Events (Notes)	Dec. 31, 2013
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENTS On January 9, 2014, we entered into an amended and restated credit agreement. The amended and restated credit facility provides for aggregate, unsecured borrowing of $350 million, consisting of a revolving line of credit of $250 million, with two, six-month extension options, and a term loan of $100 million, with three, twelve-month extension options. The 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. As of February 21, 2014, the Company had a term loan of $100.0 million outstanding and no outstanding amounts on the revolving line of credit. Concurrent with the closing of the amended and restated credit facility, the Company entered into an interest rate swap agreement that is intended to fix the variable portion of the interest rate associated with the term loan through its maturity date and extension options.

SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation (Notes)

12 Months Ended

Dec. 31, 2013

SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]

SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation



	Encumbrance as of December 31, 2013		Initial Cost				Cost Capitalized Subsequent to Acquisition		Gross Carrying Amount at December 31, 2013				Accumulated Depreciation and Amortization			Year Built/ Renovated	Date Acquired	Life on which depreciation in latest income statements is computed
Description	Encumbrance as of December 31, 2013		Land		Building and Improvements		Cost Capitalized Subsequent to Acquisition		Land		Building and Improvements		Accumulated Depreciation and Amortization			Year Built/ Renovated	Date Acquired
Alamo Quarry Market	$	—	$	26,396	$	109,294	$	11,629	$	26,816	$	120,503	$	(37,804	)	1997/1999	12/9/2003	35 years
Carmel Country Plaza	—		4,200		—		11,442		4,200		11,442		(6,536		)	1991	1/10/1989	35 years
Carmel Mountain Plaza	—		22,477		65,217		21,000		31,035		77,659		(25,985		)	1994	3/28/2003	35 years
Del Monte Center	82,300		27,412		87,570		21,796		27,117		109,661		(40,558		)	1967/1984/2006	4/8/2004	35 years
Geary Marketplace	—		8,239		12,353		37		8,238		12,391		(422		)	2012	12/19/2012	35 years
Lomas Santa Fe Plaza	—		8,600		11,282		9,622		8,620		20,884		(12,630		)	1972/1997	6/12/1995	35 years
Rancho Carmel Plaza	—		3,450		—		3,763		3,487		3,726		(2,101		)	1993	4/30/1990	35 years
The Shops at Kalakaua	19,000		13,993		10,919		100		14,006		11,006		(3,044		)	1971/2006	3/31/2005	35 years
Solana Beach Towne Centre	38,249		40,980		38,842		1,715		40,980		40,557		(4,038		)	1973/2000/2004	1/19/2011	35 years
South Bay Marketplace	23,000		4,401		—		10,626		4,401		10,626		(5,845		)	1997	9/16/1995	35 years
Waikele Center	140,700		55,593		126,858		58,530		70,643		170,338		(45,943		)	1993/2008	9/16/2004	35 years
City Center Bellevue	111,000		25,135		190,998		5,589		25,135		196,587		(8,655		)	1987	8/21/2012	40 years
First & Main	84,500		14,697		109,739		2,968		14,697		112,707		(10,454		)	2010	3/11/2011	40 years
The Landmark at One Market	133,000		34,575		141,196		7,887		34,575		149,083		(15,818		)	1917/2000	6/30/2010	40 years
Lloyd District Portfolio	—		18,660		61,401		34,910		18,660		96,311		(7,427		)	1940-2011	7/1/2011	40 years
One Beach Street	21,900		15,332		18,017		1,933		15,332		19,950		(1,224		)	1924/1972/1987/1992	1/24/2012	40 years
Solana Beach Corporate Centre:
Solana Beach Corporate Centre I-II	11,475		7,111		17,100		2,221		7,111		19,321		(1,845		)	1982/2005	1/19/2011	40 years
Solana Beach Corporate Centre III-IV	36,804		7,298		27,887		1,102		7,298		28,989		(3,036		)	1982/2005	1/19/2011	40 years
Solana Beach Corporate Centre Land	—		487		—		60		547		—		—			N/A	1/19/2011	N/A
Torrey Reserve:
ICW Plaza	—		4,095		—		34,941		4,788		34,248		(10,084		)	1996-1997	6/6/1989	40 years
Pacific North Court	21,377		3,263		—		22,801		4,309		21,755		(10,284		)	1997-1998	6/6/1989	40 years
Pacific South Court	—		3,285		—		21,589		4,226		20,648		(9,289		)	1996-1997	6/6/1989	40 years
Pacific VC	7,200		1,413		—		8,585		2,148		7,850		(4,158		)	1998/2000	6/6/1989	40 years
Pacific Torrey Daycare	—		715		—		1,671		911		1,475		(738		)	1996-1997	6/6/1989	40 years
Torrey Reserve Building 6	—		—		—		7,795		682		7,113		(36		)	2013	6/6/1989	40 years
Torrey Reserve Land	—		229		—		10,678		3,825		7,082		—			N/A	6/6/1989	N/A
Imperial Beach Gardens	20,000		1,281		4,820		4,013		1,281		8,833		(7,208		)	1959/2008-present	7/31/1985	30 years
Loma Palisades	73,744		14,000		16,570		18,063		14,051		34,582		(23,035		)	1958/2001-2008	7/20/1990	30 years
Mariner’s Point	7,700		2,744		4,540		1,124		2,744		5,664		(2,313		)	1986	5/9/2001	30 years
Santa Fe Park RV Resort	—		401		928		774		401		1,702		(1,353		)	1971/2007-2008	6/1/1979	30 years
Waikiki Beach Walk:
Retail	130,310		45,995		74,943		63		45,995		75,006		(6,984		)	2006	1/19/2011	35 years
Hotel	—		30,640		60,029		3,522		30,640		63,551		(8,581		)	2008	1/19/2011	35 years
Solana Beach - Highway 101 Land	—		7,847		202		417		8,466		—		(189		)	N/A	9/20/2011	N/A
Sorrento Valley Holdings Land	—		2,073		741		3,988		6,055		747		(964		)	N/A	5/9/1997	N/A
	$	962,259	$	457,017	$	1,191,446	$	346,954	$	493,420	$	1,501,997	$	(318,581	)

(1) For Federal tax purposes, the aggregate tax basis is approximately $1.4 billion as of December 31, 2013.



	Year Ended December 31,
	2013			2012			2011
Real estate assets
Balance, beginning of period	$	1,938,676		1,687,276			1,165,097
Additions:
Property acquisitions	—			270,082			563,858
Improvements ⁽¹⁾	60,677			41,303			13,595
Deductions:
Cost of Real Estate Sold	—			(57,188		)	(37,599		)
Other ⁽¹⁾⁽²⁾	(3,936		)	(2,797		)	(17,675		)
Balance, end of period	$	1,995,417		$	1,938,676		$	1,687,276
Accumulated depreciation
Balance, beginning of period	$	270,494		$	234,595		$	221,997
Additions—depreciation ⁽¹⁾	51,949			47,792			42,498
Deductions:
Cost of Real Estate Sold	—			(9,216		)	(12,225		)
Other ⁽¹⁾⁽²⁾	(3,862		)	(2,677		)	(17,675		)
Balance, end of period	$	318,581		$	270,494		$	234,595


(1)	Includes discontinued operations for 160 King Street, which was sold on December 4, 2012 and Valencia Corporate Center, which was sold on August 30, 2011.


(2)	Other deductions for the years ended December 31, 2013, 2012 and 2011 represent the write-off of fully depreciated assets.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Business and Organization



Retail
Carmel Country Plaza	Del Monte Center
Carmel Mountain Plaza	Geary Marketplace
South Bay Marketplace	The Shops at Kalakaua
Rancho Carmel Plaza	Waikele Center
Lomas Santa Fe Plaza	Alamo Quarry Market
Solana Beach Towne Centre



Office
Torrey Reserve Campus	Lloyd District Portfolio
Solana Beach Corporate Centre	City Center Bellevue
The Landmark at One Market
One Beach Street
First & Main



Multifamily
Loma Palisades
Imperial Beach Gardens
Mariner's Point
Santa Fe Park RV Resort



Mixed-Use
Waikiki Beach Walk Retail and Embassy Suites™ Hotel



Held for Development and Construction in Progress
Solana Beach Corporate Centre – Land
Solana Beach – Highway 101 – Land
Sorrento Pointe – Land
Torrey Reserve – Land
Lloyd District Portfolio – Land

Basis of Presentation

All significant intercompany transactions and balances are eliminated in consolidation.

Use of Estimates

Consolidated Statements of Cash Flows-Supplemental Disclosures

The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):



	Year Ended December 31,
	2013		2012			2011
Supplemental cash flow information
Total interest costs incurred	$	60,133	$	58,074		$	54,580
Interest capitalized	$	2,113	$	746		$	—
Interest expense	$	58,020	$	57,328		$	54,580
Cash paid for interest, net of amounts capitalized (including discontinued operations)	$	54,345	$	55,349		$	52,713
Cash paid for income taxes	$	901	$	1,239		$	172
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued liabilities for construction in progress	$	5,001	$	4,944		$	2,396
Accrued leasing commissions	$	1,385	$	(782	)	$	—
Assumption of debt upon acquisition	$	—	$	—		$	268,008
Assumption of notes to affiliates upon acquisition	$	—	$	—		$	14,824
Acquisition of working capital deficit, net of cash	$	—	$	—		$	(4,176	)
Distribution of investment in joint venture not acquired	$	—	$	—		$	11,480
Issuance of common shares and units for acquisition of properties	$	—	$	—		$	33,854
Notes receivable from affiliate settled in common units	$	—	$	—		$	21,797
Notes payable to affiliates settled in common units	$	—	$	—		$	828
Reduction to capital for prepaid equity financing costs	$	437	$	—		$	1,974
Transfer taxes accrued at time of initial public offering	$	—	$	—		$	6,556

Offering Costs

Revenue Recognition and Accounts Receivable

Real Estate

Capitalized Costs

Impairment of Long Lived Assets

Financial Instruments

Derivative Instruments

Cash and Cash Equivalents

Restricted Cash

Marketable Securities

Other Assets

Variable Interest Entities

Investments in Real Estate Joint Ventures

Stock-Based Compensation

Deferred Compensation

Income Taxes

Segment Information

Reclassifications

Certain items in the consolidated financial statements for prior periods have been reclassified to conform to current classifications.

Recent Accounting Pronouncements

Fair Value Measurements

FAIR VALUE OF FINANCIAL INSTRUMENTS

A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability. The hierarchy for inputs used in measuring fair value is as follows:


1.	Level 1 Inputs—quoted prices in active markets for identical assets or liabilities


2.	Level 2 Inputs—observable inputs other than quoted prices in active markets for identical assets and liabilities


3.	Level 3 Inputs—unobservable inputs

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2013

Accounting Policies [Abstract]

Summary of Properties Owned

A summary of the properties owned by us is as follows:



Retail
Carmel Country Plaza	Del Monte Center
Carmel Mountain Plaza	Geary Marketplace
South Bay Marketplace	The Shops at Kalakaua
Rancho Carmel Plaza	Waikele Center
Lomas Santa Fe Plaza	Alamo Quarry Market
Solana Beach Towne Centre



Office
Torrey Reserve Campus	Lloyd District Portfolio
Solana Beach Corporate Centre	City Center Bellevue
The Landmark at One Market
One Beach Street
First & Main



Multifamily
Loma Palisades
Imperial Beach Gardens
Mariner's Point
Santa Fe Park RV Resort



Mixed-Use
Waikiki Beach Walk Retail and Embassy Suites™ Hotel



Held for Development and Construction in Progress
Solana Beach Corporate Centre – Land
Solana Beach – Highway 101 – Land
Sorrento Pointe – Land
Torrey Reserve – Land
Lloyd District Portfolio – Land

NOTE 2. REAL ESTATE

A summary of our real estate investments is as follows (in thousands):



	Retail			Office			Multifamily			Mixed-Use			Total
December 31, 2013
Land	$	248,008		$	150,300		$	18,477		$	76,635		$	493,420		⁽¹⁾
Buildings	499,091			618,077			42,270			123,142			1,282,580
Land improvements	39,892			7,528			3,010			2,363			52,793
Tenant improvements	46,649			51,016			—			1,697			99,362
Furniture, fixtures, and equipment	489			517			5,482			10,080			16,568
Construction in progress	2,673			46,727			19			1,275			50,694
	836,802			874,165			69,258			215,192			1,995,417
Accumulated depreciation	(185,095		)	(84,012		)	(33,909		)	(15,565		)	(318,581		)
Net real estate	$	651,707		$	790,153		$	35,349		$	199,627		$	1,676,836
December 31, 2012
Land	$	247,884		$	150,300		$	18,477		$	76,635		$	493,296		⁽¹⁾
Buildings	497,922			600,146			41,968			123,084			1,263,120
Land improvements	39,882			7,528			2,990			2,363			52,763
Tenant improvements	46,393			44,232			—			1,757			92,382
Furniture, fixtures, and equipment	486			1,124			5,082			9,563			16,255
Construction in progress	1,903			18,698			1			258			20,860
	834,470			822,028			68,518			213,660			1,938,676
Accumulated depreciation	(165,293		)	(62,825		)	(32,127		)	(10,249		)	(270,494		)
Net real estate	$	669,177		$	759,203		$	36,391		$	203,411		$	1,668,182

(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.

Consolidated Statements of Cash Flows-Supplemental Disclosures

The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):



	Year Ended December 31,
	2013		2012			2011
Supplemental cash flow information
Total interest costs incurred	$	60,133	$	58,074		$	54,580
Interest capitalized	$	2,113	$	746		$	—
Interest expense	$	58,020	$	57,328		$	54,580
Cash paid for interest, net of amounts capitalized (including discontinued operations)	$	54,345	$	55,349		$	52,713
Cash paid for income taxes	$	901	$	1,239		$	172
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued liabilities for construction in progress	$	5,001	$	4,944		$	2,396
Accrued leasing commissions	$	1,385	$	(782	)	$	—
Assumption of debt upon acquisition	$	—	$	—		$	268,008
Assumption of notes to affiliates upon acquisition	$	—	$	—		$	14,824
Acquisition of working capital deficit, net of cash	$	—	$	—		$	(4,176	)
Distribution of investment in joint venture not acquired	$	—	$	—		$	11,480
Issuance of common shares and units for acquisition of properties	$	—	$	—		$	33,854
Notes receivable from affiliate settled in common units	$	—	$	—		$	21,797
Notes payable to affiliates settled in common units	$	—	$	—		$	828
Reduction to capital for prepaid equity financing costs	$	437	$	—		$	1,974
Transfer taxes accrued at time of initial public offering	$	—	$	—		$	6,556

Real Estate (Tables)

12 Months Ended

Dec. 31, 2013

Summary of Real Estate Investments

A summary of the properties owned by us is as follows:



Retail
Carmel Country Plaza	Del Monte Center
Carmel Mountain Plaza	Geary Marketplace
South Bay Marketplace	The Shops at Kalakaua
Rancho Carmel Plaza	Waikele Center
Lomas Santa Fe Plaza	Alamo Quarry Market
Solana Beach Towne Centre



Office
Torrey Reserve Campus	Lloyd District Portfolio
Solana Beach Corporate Centre	City Center Bellevue
The Landmark at One Market
One Beach Street
First & Main



Multifamily
Loma Palisades
Imperial Beach Gardens
Mariner's Point
Santa Fe Park RV Resort



Mixed-Use
Waikiki Beach Walk Retail and Embassy Suites™ Hotel



Held for Development and Construction in Progress
Solana Beach Corporate Centre – Land
Solana Beach – Highway 101 – Land
Sorrento Pointe – Land
Torrey Reserve – Land
Lloyd District Portfolio – Land

NOTE 2. REAL ESTATE

A summary of our real estate investments is as follows (in thousands):



	Retail			Office			Multifamily			Mixed-Use			Total
December 31, 2013
Land	$	248,008		$	150,300		$	18,477		$	76,635		$	493,420		⁽¹⁾
Buildings	499,091			618,077			42,270			123,142			1,282,580
Land improvements	39,892			7,528			3,010			2,363			52,793
Tenant improvements	46,649			51,016			—			1,697			99,362
Furniture, fixtures, and equipment	489			517			5,482			10,080			16,568
Construction in progress	2,673			46,727			19			1,275			50,694
	836,802			874,165			69,258			215,192			1,995,417
Accumulated depreciation	(185,095		)	(84,012		)	(33,909		)	(15,565		)	(318,581		)
Net real estate	$	651,707		$	790,153		$	35,349		$	199,627		$	1,676,836
December 31, 2012
Land	$	247,884		$	150,300		$	18,477		$	76,635		$	493,296		⁽¹⁾
Buildings	497,922			600,146			41,968			123,084			1,263,120
Land improvements	39,882			7,528			2,990			2,363			52,763
Tenant improvements	46,393			44,232			—			1,757			92,382
Furniture, fixtures, and equipment	486			1,124			5,082			9,563			16,255
Construction in progress	1,903			18,698			1			258			20,860
	834,470			822,028			68,518			213,660			1,938,676
Accumulated depreciation	(165,293		)	(62,825		)	(32,127		)	(10,249		)	(270,494		)
Net real estate	$	669,177		$	759,203		$	36,391		$	203,411		$	1,668,182

(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.

Net Revenue and Net Income from Discontinued Operations

Net revenue and net income from the property's discontinued operations were as follows (in thousands):



	Year Ended December 31,
	2013		2012		2011
Net revenue from discontinued operations	$	—	$	6,734	$	10,133
Results from discontinued operations
Income from discontinued operations	—		932		1,672
Gain on sale of real estate from discontinued operations	—		36,720		3,981
Total income from discontinued operations	$	—	$	37,652	$	5,653

2012 Acquisitions

Allocation of Purchase Price

The allocation of the purchase price for each of One Beach Street, City Center Bellevue and Geary Marketplace is as follows (in thousands):



	One Beach Street		City Center Bellevue		Geary Marketplace		Total
Land	$	15,332	$	25,135	$	8,239	$	48,706
Building	16,764		185,653		11,179		213,596
Land improvements	30		154		704		888
Tenant improvements	1,223		5,191		470		6,884
Total real estate	33,349		216,133		20,592		270,074
Lease intangibles	4,141		11,870		1,017		17,028
Prepaid expenses and other assets	1		2,596		414		3,011
Total assets	$	37,491	$	230,599	$	22,023	$	290,113
Accounts payable and accrued expenses	$	94	$	456	$	—	$	550
Security deposits payable	75		740		—		815
Lease intangibles	1,382		8,733		1,124		11,239
Other liabilities and deferred credits	22		497		—		519
Total liabilities	$	1,573	$	10,426	$	1,124	$	13,123

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details

Acquired In-Place Leases and Above/Below Market Leases (Tables)

12 Months Ended

Dec. 31, 2013

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):



	Year Ended December 31,
	2013			2012			2011
Amortization of in-place leases	$	(9,120	)	$	(10,248	)	$	(8,859	)
Amortization of above market leases	(4,052		)	(5,739		)	(5,684		)
Amortization of below market leases	6,440			5,502			4,567
Net loss	$	(6,732	)	$	(10,485	)	$	(9,976	)

The following summarizes our acquired lease intangibles, which are included in other assets and other liabilities and deferred credits (in thousands):



	December 31, 2013			December 31, 2012
In-place leases	$	62,813		$	72,598
Accumulated amortization	(38,279		)	(38,290		)
Above market leases	28,279			32,846
Accumulated amortization	(20,880		)	(21,363		)
Acquired lease intangible assets, net	$	31,933		$	45,791
Below market leases	$	76,502		$	80,071
Accumulated accretion	(28,592		)	(25,721		)
Acquired lease intangible liabilities, net	$	47,910		$	54,350

Future Amortization for Acquired In-Place Leases

As of December 31, 2013, the amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows (in thousands):



	In-Place Leases		Above Market Leases		Below Market Leases
Year Ending December 31,
2014	$	5,849	$	2,296	$	4,989
2015	4,777		1,752		4,588
2016	3,958		1,263		4,453
2017	3,193		932		4,097
2018	1,897		628		3,577
Thereafter	4,860		528		26,206
	$	24,534	$	7,399	$	47,910

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

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):



	December 31, 2013								December 31, 2012
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Deferred compensation liability	$	—	$	769	$	—	$	769	$	—	$	637	$	—	$	637

Carrying amount and fair value of financial instruments

A summary of the carrying amount and fair value of our financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands):



	December 31, 2013		December 31, 2012
	Carrying Value	Fair Value	Carrying Value	Fair Value
Secured notes payable	952,174	990,296	1,044,682	1,116,162
Line of credit	93,000	93,000	—	—

Debt (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Summary of total secured notes payable outstanding

The following is a summary of our total secured notes payable outstanding as of December 31, 2013 and December 31, 2012 (in thousands):



Description of Debt	Principal Balance as of						Stated Interest Rate		Stated Maturity Date
Description of Debt	December 31, 2013			December 31, 2012			as of December 31, 2013		Stated Maturity Date
Alamo Quarry Market ⁽¹⁾	$	—		$	93,942
Waikele Center ⁽³⁾	140,700			140,700			5.15	%	November 1, 2014
The Shops at Kalakaua ⁽³⁾	19,000			19,000			5.45	%	May 1, 2015
The Landmark at One Market ⁽²⁾⁽³⁾	133,000			133,000			5.61	%	July 5, 2015
Del Monte Center ⁽³⁾	82,300			82,300			4.93	%	July 8, 2015
First & Main ⁽³⁾	84,500			84,500			3.97	%	July 1, 2016
Imperial Beach Gardens ⁽³⁾	20,000			20,000			6.16	%	September 1, 2016
Mariner’s Point ⁽³⁾	7,700			7,700			6.09	%	September 1, 2016
South Bay Marketplace ⁽³⁾	23,000			23,000			5.48	%	February 10, 2017
Waikiki Beach Walk—Retail ⁽³⁾	130,310			130,310			5.39	%	July 1, 2017
Solana Beach Corporate Centre III-IV	36,804			37,204			6.39	%	August 1, 2017
Loma Palisades ⁽³⁾	73,744			73,744			6.09	%	July 1, 2018
One Beach Street ⁽³⁾	21,900			21,900			3.94	%	April 1, 2019
Torrey Reserve—North Court ⁽¹⁾	21,377			21,659			7.22	%	June 1, 2019
Torrey Reserve—VCI, VCII, VCIII ⁽¹⁾	7,200			7,294			6.36	%	June 1, 2020
Solana Beach Corporate Centre I-II ⁽¹⁾	11,475			11,637			5.91	%	June 1, 2020
Solana Beach Towne Centre ⁽¹⁾	38,249			38,790			5.91	%	June 1, 2020
City Center Bellevue ⁽³⁾	111,000			111,000			3.98	%	November 1, 2022
Total	962,259			1,057,680
Unamortized fair value adjustment	(10,085		)	(12,998		)
Total Secured Notes Payable Balance	$	952,174		$	1,044,682


(1)	Principal payments based on a 30-year amortization schedule.


(2)	Maturity Date is the earlier of the loan maturity date under the loan agreement, or the “Anticipated Repayment Date” as specifically defined in the loan agreement, which is the date after which substantial economic penalties apply if the loan has not been paid off.


(3)	Interest only.

Scheduled Principal Payments on Notes Payable

Scheduled principal payments on notes payable as of December 31, 2013 are as follows (in thousands):



2014	$	142,276
2015	235,980
2016	113,974
2017	190,139
2018	75,224
Thereafter	204,666
	$	962,259

Equity (Tables)

12 Months Ended

Dec. 31, 2013

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, 2013, 2012 and 2011:



Period	Amount per Share/Unit		Period Covered	Dividend Paid Date
First Quarter 2011	$	0.17	January 19, 2011 to March 31, 2011	March 31, 2011
Second Quarter 2011	$	0.21	April 1, 2011 to June 30, 2011	June 30, 2011
Third Quarter 2011	$	0.21	July 1, 2011 to September 30, 2011	September 30, 2011
Fourth Quarter 2011	$	0.21	October 1, 2011 to December 31, 2011	December 29, 2011
First Quarter 2012	$	0.21	January 1, 2012 to March 31, 2012	March 30, 2012
Second Quarter 2012	$	0.21	April 1, 2012 to June 30, 2012	June 29, 2012
Third Quarter 2012	$	0.21	July 1, 2012 to September 30, 2012	September 28, 2012
Fourth Quarter 2012	$	0.21	October 1, 2012 to December 31, 2012	December 28, 2012
First Quarter 2013	$	0.21	January 1, 2013 to March 31, 2013	March 29, 2013
Second Quarter 2013	$	0.21	April 1, 2013 to June 30, 2013	June 28, 2013
Third Quarter 2013	$	0.21	July 1, 2013 to September 30, 2013	September 27, 2013
Fourth Quarter 2013	$	0.22	October 1, 2013 to December 31, 2013	December 27, 2013

Summary of Income Tax Status of Dividends Per Share Paid

A summary of the income tax status of dividends per share paid is as follows:



	Year Ended December 31,
	2013				2012				2011
	Per Share		%		Per Share		%		Per Share		%
Ordinary income	$	0.83	97.6	%	$	0.56	66.7	%	$	0.22	27.5	%
Return of capital	0.02		2.4	%	0.28		33.3	%	0.58		72.5	%
Total	$	0.85	100.0	%	$	0.84	100.0	%	$	0.80	100.0	%

Activity of restricted stock awards

The following table summarizes the activity of non-vested restricted stock awards during the year ended December 31, 2013:



	2013
	Units		Weighted Average Grant Date Fair Value
Balance at beginning of year	633,222		$	15.64
Granted	5,004		31.97
Vested	(4,737	)	22.55
Forfeited	(4,431	)	19.38
Balance at end of year	629,058		$	15.58

Computation of basic and diluted EPS

The computation of basic and diluted EPS is presented below (dollars in thousands, except share and per share amounts):



	Year Ended December 31,
	2013			2012			2011
NUMERATOR
Income from continuing operations	$	22,594		$	13,949		$	13,671
Less: Net income attributable to restricted shares	(536		)	(529		)	(482		)
Plus: Loss from continuing operations attributable to Predecessor's noncontrolling interests in consolidated real estate entities	—			—			2,455
Less: Income from continuing operations attributable to Predecessor's controlled owners' equity	—			—			(16,962		)
Plus: (Income) loss from continuing operations attributable to unitholders in the Operating Partnership	(6,838		)	(4,239		)	425
Income (loss) from continuing operations attributable to American Assets Trust, Inc. common stockholders—basic	15,220			9,181			(893		)
Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders	—			25,758			3,810
Net income attributable to common stockholders—basic	$	15,220		$	34,939		$	2,917
Income (loss) from continuing operations attributable to American Assets Trust, Inc. common stockholders—basic	$	15,220		$	9,181		$	(893	)
Less: Income (loss) from continuing operations attributable to unitholders in the Operating Partnership	6,838			4,239			(425		)
Income (loss) from continuing operations attributable to common stockholders—diluted	22,058			13,420			(1,318		)
Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders	—			25,758			3,810
Plus: Results from discontinued operations attributable to unitholders in the Operating Partnership	—			11,894			1,813
Net income attributable to common stockholders—diluted	$	22,058		$	51,072		$	4,305
DENOMINATOR
Weighted average common shares outstanding—basic	39,539,457			38,736,113			36,748,806
Effect of dilutive securities—conversion of Operating Partnership units	17,976,353			18,317,796			17,471,001
Weighted average common shares outstanding—diluted	57,515,810			57,053,909			54,219,807
Earnings (loss) per common share—basic
Continuing operations	$	0.38		$	0.24		$	(0.02	)
Discontinued operations	—			0.66			0.10
	$	0.38		$	0.90		$	0.08
Earnings (loss) per common share—diluted
Continuing operations	$	0.38		$	0.24		$	(0.02	)
Discontinued operations	—			0.66			0.10
	$	0.38		$	0.90		$	0.08

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

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):



	Year Ended December 31, 2013			Year Ended December 31, 2012		Year Ended December 31, 2011
Current:
Federal	$	370		$	361	$	483
State	362			335		90
Deferred:
Federal	$	(47	)	$	118	$	—
State	(40		)	202		—
Provision for income taxes	$	645		$	1,016	$	573

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

Current minimum annual payments under the leases

Current minimum annual payments under the leases are as follows, as of December 31, 2013 (in thousands):



2014	$	2,569
2015	2,636
2016	1,709
2017	736		⁽¹⁾
2018	740
Thereafter	2,221
Total	$	10,611


(1)	Lease payments on the Waikiki Beach Walk lease will be equal to fair rental value from March 2017 through the end of the lease term. In the table, we have shown the lease payments for this period based on the stated rate for the month of February 2017 of $61,690.



2014	$	153,059
2015	145,172
2016	125,696
2017	108,442
2018	76,315
Thereafter	146,522
Total	$	755,206

Operating Leases (Tables)

12 Months Ended

Dec. 31, 2013

Leases, Operating [Abstract]

Current minimum future rentals under the leases

Current minimum annual payments under the leases are as follows, as of December 31, 2013 (in thousands):



2014	$	2,569
2015	2,636
2016	1,709
2017	736		⁽¹⁾
2018	740
Thereafter	2,221
Total	$	10,611


(1)	Lease payments on the Waikiki Beach Walk lease will be equal to fair rental value from March 2017 through the end of the lease term. In the table, we have shown the lease payments for this period based on the stated rate for the month of February 2017 of $61,690.



2014	$	153,059
2015	145,172
2016	125,696
2017	108,442
2018	76,315
Thereafter	146,522
Total	$	755,206

Component of Rental Income and Expense (Tables)

12 Months Ended

Dec. 31, 2013

Operating Leases, Income Statement, Lease Revenue [Abstract]

Principal components of rental income

The principal components of rental income are as follows (in thousands):



	Year Ended December 31,
	2013		2012		2011
Minimum rents
Retail	$	69,374	$	67,046	$	63,996
Office	81,845		71,817		53,457
Multifamily	14,926		13,796		13,246
Mixed-Use	9,549		8,893		8,478
Cost reimbursement	27,583		27,763		24,463
Percentage rent	2,655		2,608		1,967
Hotel revenue	35,137		31,729		27,125
Other	1,688		1,597		1,436
Total rental income	$	242,757	$	225,249	$	194,168

Principal components of rental expenses

The principal components of rental expenses are as follows (in thousands):



	Year Ended December 31,
	2013		2012		2011
Rental operating	$	26,028	$	24,264	$	22,008
Hotel operating	22,115		20,905		18,885
Repairs and maintenance	10,514		9,452		8,082
Marketing	1,547		1,266		1,390
Rent	2,442		2,378		2,767
Hawaii excise tax	4,153		3,813		3,379
Management fees	1,809		2,011		1,622
Total rental expenses	$	68,608	$	64,089	$	58,133

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2013

Fees earned from unconsolidated joint ventures

Fees earned by us from the unconsolidated joint ventures, which are included in other income (expense), net, are as follows (in thousands):



	Year Ended December 31,
	2013		2012		2011
Property management fees	$	—	$	—	$	38
Maintenance reimbursements	—		—		6
	$	—	$	—	$	44

Outstanding Notes Receivable from Affiliate Balances and Related Interest Income

A summary of the outstanding notes receivable from affiliate balances and related interest income are as follows (in thousands):



	As of and for the year ended December 31,
	2013		2012		2011
Notes receivable from affiliate	$	—	$	—	$	—
Interest income	$	—	$	—	$	3

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2013

Segment Reporting [Abstract]

Schedule of segments operating activity

The following table represents operating activity within our reportable segments (in thousands):



	Year Ended December 31,
	2013			2012			2011
Total Retail
Property revenue	$	93,449		$	91,991		$	86,511
Property expense	(23,900		)	(24,955		)	(24,512		)
Segment profit	69,549			67,036			61,999
Total Office
Property revenue	90,527			78,101			57,319
Property expense	(26,688		)	(23,780		)	(18,015		)
Segment profit	63,839			54,321			39,304
Total Multifamily
Property revenue	16,125			14,852			14,321
Property expense	(5,917		)	(5,914		)	(5,578		)
Segment profit	10,208			8,938			8,743
Total Mixed-Use
Property revenue	54,956			50,522			44,634
Property expense	(33,481		)	(31,465		)	(28,774		)
Segment profit	21,475			19,057			15,860
Total segments’ profit	$	165,071		$	149,352		$	125,906

Reconciliation of segment profit to net income attributable to stockholders

The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands):



	Year Ended December 31,
	2013			2012			2011
Total segments' profit	$	165,071		$	149,352		$	125,906
General and administrative	(17,195		)	(15,593		)	(13,627		)
Depreciation and amortization	(66,775		)	(61,853		)	(55,936		)
Interest expense	(58,020		)	(57,328		)	(54,580		)
Early extinguishment of debt	—			—			(25,867		)
Loan transfer and consent fees	—			—			(8,808		)
Gain on acquisition	—			—			46,371
Other income (expense), net	(487		)	(629		)	212
Income from continuing operations	22,594			13,949			13,671
Discontinued operations
Income from discontinued operations	—			932			1,672
Gain on sale of real estate property	—			36,720			3,981
Results from discontinued operations	—			37,652			5,653
Net income	22,594			51,601			19,324
Net income attributable to restricted shares	(536		)	(529		)	(482		)
Net loss attributable to Predecessor's noncontrolling interests in consolidated real estate entities	—			—			2,458
Net income attributable to Predecessor's controlled owners' equity	—			—			(16,995		)
Net income attributable to unitholders in the Operating Partnership	(6,838		)	(16,133		)	(1,388		)
Net income attributable to American Assets Trust, Inc. stockholders	$	15,220		$	34,939		$	2,917

Net Real Estate and Secured note payable balances by Segments

The following table shows net real estate and secured note payable balances for each of the segments, along with their capital expenditures for each year (in thousands):



	December 31, 2013		December 31, 2012
Net real estate
Retail	$	651,707	$	669,177
Office	790,153		759,203
Multifamily	35,349		36,391
Mixed-Use	199,627		203,411
	$	1,676,836	$	1,668,182
Secured Notes Payable ⁽¹⁾
Retail	$	303,249	$	397,732
Office	427,256		428,194
Multifamily	101,444		101,444
Mixed-Use	130,310		130,310
	$	962,259	$	1,057,680
Capital Expenditures ⁽²⁾
Retail	$	4,849	$	14,211
Office	27,275		22,136
Multifamily	24,641		964
Mixed-Use	1,942		727
	$	58,707	$	38,038


(1)	Excludes unamortized fair market value adjustment of $10.1 million and $13.0 million as of December 31, 2013 and 2012, respectively.


(2)	Capital expenditures represent cash paid for capital expenditures during the year and include leasing commissions paid.

Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Information

The tables below reflect selected quarterly information for 2013 and 2012 (in thousands):



	Three Months Ended
	December 31, 2013			September 30, 2013			June 30, 2013			March 31, 2013
Total revenue	$	64,645		$	65,318		$	62,914		$	62,180
Operating income	20,407			21,441			19,373			19,880
Net income	6,907			6,258			4,564			4,865
Net income attributable to restricted shares	(139		)	(132		)	(133		)	(132		)
Net income attributable to unitholders in the Operating Partnership	(2,086		)	(1,903		)	(1,354		)	(1,495		)
Net income attributable to American Assets Trust, Inc. stockholders	$	4,682		$	4,223		$	3,077		$	3,238
Net income from continuing operations attributable to common stockholders - basic and diluted	$	0.11		$	0.11		$	0.08		$	0.08
Net income attributable to common stockholders - basic and diluted	$	0.11		$	0.11		$	0.08		$	0.08

	Three Months Ended
	December 31, 2012			September 30, 2012			June 30, 2012			March 31, 2012
Total revenue	$	63,120		$	60,766		$	56,131		$	55,449
Operating income	20,247			18,206			16,641			16,812
Income from continuing operations	4,822			3,968			2,396			2,763
Results from discontinued operations	36,999			317			228			108
Net income	41,821			4,285			2,624			2,871
Net income attributable to restricted shares	(133		)	(133		)	(131		)	(132		)
Net income attributable to unitholders in the Operating Partnership	(13,111		)	(1,335		)	(804		)	(883		)
Net income attributable to American Assets Trust, Inc. stockholders	$	28,577		$	2,817		$	1,689		$	1,856
Net income from continuing operations attributable to common stockholders- basic and diluted	$	0.08		$	0.07		$	0.04		$	0.05
Net income from discontinued operations attributable to common stockholders - basic and diluted	$	0.65		$	0.01		$	—		$	—
Net income attributable to common stockholders - basic and diluted	$	0.73		$	0.08		$	0.04		$	0.05

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended	12 Months Ended						12 Months Ended						12 Months Ended
	Mar. 31, 2011	Dec. 31, 2013 Segment Room Property Employee	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013 Minimum	Dec. 31, 2013 Money Market Funds	Dec. 31, 2012 Money Market Funds	Dec. 31, 2013 Building And Improvement Minimum	Dec. 31, 2013 Building And Improvement Maximum	Dec. 31, 2013 Furniture And Equipment Minimum	Dec. 31, 2013 Furniture And Equipment Maximum	Dec. 31, 2013 Deferred Rent Receivables	Dec. 31, 2012 Deferred Rent Receivables	Dec. 31, 2013 Other Income	Dec. 31, 2012 Other Income	Dec. 31, 2011 Other Income	Jul. 16, 2010 Predecessor Property	Jan. 09, 2014 Subsequent Event Term Loan
Summary Of Significant Accounting Policies [Line Items]
Line of credit interest rate (in percents)																		3.08%
Properties of entities with controlling ownership interest (property)																	17
Properties of entities with non-controlling ownership interests (property)																	4
Investments in certain real estate joint ventures, noncontrolling ownership interests																	25.00%
Number of employees		116
Number of office, retail, multifamily and mixed-use operating properties		23
Properties held for development		5
General excise tax recognized, gross														$ 3,500,000	$ 3,300,000	$ 3,000,000
Allowance for doubtful accounts		1,000,000	1,200,000									1,200,000	1,500,000
Total bad debt expense		100,000	600,000	2,000,000
Real Estate, estimated useful lives								30 years	40 years	3 years	15 years
Real estate depreciation expense		52,000,000	47,800,000	42,500,000
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		29,000,000	33,000,000			11,000,000	900,000
Restricted cash		9,124,000	7,421,000
Debt issuance costs written off	$ 600,000
Percentage of taxable income required to distribute to qualify as real estate investment trust (REIT)					90.00%
Number of operating segments		4
Room in mixed-use segment all-suite hotel		369

Summary of Significant Accounting Policies Supplemental Disclosures Related to Consolidated Statements of Cash Flows (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Supplemental cash flow information
Total interest costs incurred	$ 60,133	$ 58,074	$ 54,580
Interest capitalized	2,113	746	0
Interest expense	58,020	57,328	54,580
Cash paid for interest, net of amounts capitalized (including discontinued operations)	54,345	55,349	52,713
Cash paid for income taxes	901	1,239	172
Supplemental schedule of noncash investing and financing activities
Accounts payable and accrued liabilities for construction in progress	5,001	4,944	2,396
Accrued leasing commissions	1,385	(782)	0
Assumption of debt upon acquisition	0	0	268,008
Assumption of notes to affiliates upon acquisition	0	0	14,824
Acquisition of working capital deficit, net of cash	0	0	(4,176)
Distribution of investment in joint venture not acquired	0	0	11,480
Issuance of common shares and units for acquisition of properties	0	0	33,854
Notes receivable from affiliate settled in common units	0	0	21,797
Notes payable to affiliates settled in common units	0	0	828
Reduction to capital for prepaid equity financing costs	437	0	1,974
Transfer taxes accrued at time of initial public offering	$ 0	$ 0	$ 6,556

Real Estate (Details) (USD $)	3 Months Ended								12 Months Ended			0 Months Ended	1 Months Ended	12 Months Ended	1 Months Ended	4 Months Ended	1 Months Ended
Real Estate (Details) (USD $)	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 04, 2012 160 King Street	Jan. 24, 2012 One Beach Street sqft Story	Dec. 31, 2012 One Beach Street	Aug. 21, 2012 City Center sqft Story	Dec. 31, 2012 City Center	Dec. 19, 2012 Geary Marketplace sqft	Aug. 31, 2011 Valencia Corporate Center
Real Estate Properties [Line Items]
Date of acquisition									Jan. 24, 2012
Rentable square feet of a specific real estate property													97,000		497,000		35,000
Purchase price of a specific real estate property													$ 36,500,000		$ 228,800,000		$ 21,000,000
Closing costs for a specific real estate property													20,000		100,000		20,000
Business acquisition, identifiable intangible assets and liabilities, weighted average life													7 years		5 years 9 months		19 years 9 months
Number of stories in a real estate property													3		27
Approximate additional credits received to purchase price															6,900,000
Percentage of leased real estate property																	100.00%
Total revenue of specific real estate properties									12,300,000	10,217,000	8,617,000			3,900,000		7,000,000
Operating expenses of specific real estate properties									173,956,000	163,560,000	146,442,000			1,000,000		1,600,000
Operating income (loss)	20,407,000	21,441,000	19,373,000	19,880,000	20,247,000	18,206,000	16,641,000	16,812,000	81,101,000	71,906,000	56,343,000			2,900,000		5,400,000
Net income	6,907,000	6,258,000	4,564,000	4,865,000	41,821,000	4,285,000	2,624,000	2,871,000	22,594,000	51,601,000	19,324,000			600,000
Sales price of a specific real estate property												$ 93,800,000						$ 31,000,000

Real Estate Summary of Real Estate Investments (Details) (USD $)
In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Real Estate Properties [Line Items]

Construction in progress

$ 67,389

$ 32,183

Total Real estate, at cost

1,995,417

1,938,676

Accumulated depreciation

(318,581)

(270,494)

Net real estate

1,676,836

1,668,182

Total Retail

Real Estate Properties [Line Items]

Net real estate

651,707

669,177

Total Office

Real Estate Properties [Line Items]

Net real estate

790,153

759,203

Total Multifamily

Real Estate Properties [Line Items]

Net real estate

35,349

36,391

Total Mixed-Use

Real Estate Properties [Line Items]

Net real estate

199,627

203,411

Real Estate Investment

Real Estate Properties [Line Items]

Land

493,420

^[1]

493,296

^[1]

Buildings

1,282,580

1,263,120

Land improvements

52,793

52,763

Tenant improvements

99,362

92,382

Furniture, fixtures, and equipment

16,568

16,255

Construction in progress

50,694

20,860

Total Real estate, at cost

1,995,417

1,938,676

Accumulated depreciation

(318,581)

(270,494)

Net real estate

1,676,836

1,668,182

Real Estate Investment | Total Retail

Real Estate Properties [Line Items]

Land

248,008

247,884

Buildings

499,091

497,922

Land improvements

39,892

39,882

Tenant improvements

46,649

46,393

Furniture, fixtures, and equipment

489

486

Construction in progress

2,673

1,903

Total Real estate, at cost

836,802

834,470

Accumulated depreciation

(185,095)

(165,293)

Net real estate

651,707

669,177

Real Estate Investment | Total Office

Real Estate Properties [Line Items]

Land

150,300

Buildings

618,077

600,146

Land improvements

7,528

Tenant improvements

51,016

44,232

Furniture, fixtures, and equipment

517

1,124

Construction in progress

46,727

18,698

Total Real estate, at cost

874,165

822,028

Accumulated depreciation

(84,012)

(62,825)

Net real estate

790,153

759,203

Real Estate Investment | Total Multifamily

Real Estate Properties [Line Items]

Land

18,477

Buildings

42,270

41,968

Land improvements

3,010

2,990

Tenant improvements

Furniture, fixtures, and equipment

5,482

5,082

Construction in progress

Total Real estate, at cost

69,258

68,518

Accumulated depreciation

(33,909)

(32,127)

Net real estate

35,349

36,391

Real Estate Investment | Total Mixed-Use

Real Estate Properties [Line Items]

Land

76,635

Buildings

123,142

123,084

Land improvements

2,363

Tenant improvements

1,697

1,757

Furniture, fixtures, and equipment

10,080

9,563

Construction in progress

1,275

258

Total Real estate, at cost

215,192

213,660

Accumulated depreciation

(15,565)

(10,249)

Net real estate

$ 199,627

$ 203,411

[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.

Real Estate Allocation of Purchase Price (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012
Business Acquisition [Line Items]
Land	$ 48,706
Building	213,596
Land improvements	888
Tenant improvements	6,884
Total real estate	270,074
Lease intangibles	17,028
Prepaid expenses and other assets	3,011
Total assets	290,113
Accounts payable and accrued expenses	550
Security deposits payable	815
Lease intangibles	11,239
Other liabilities and deferred credits	519
Total liabilities	13,123
One Beach Street
Business Acquisition [Line Items]
Land	15,332
Building	16,764
Land improvements	30
Tenant improvements	1,223
Total real estate	33,349
Lease intangibles	4,141
Prepaid expenses and other assets	1
Total assets	37,491
Accounts payable and accrued expenses	94
Security deposits payable	75
Lease intangibles	1,382
Other liabilities and deferred credits	22
Total liabilities	1,573
City Center Bellevue
Business Acquisition [Line Items]
Land	25,135
Building	185,653
Land improvements	154
Tenant improvements	5,191
Total real estate	216,133
Lease intangibles	11,870
Prepaid expenses and other assets	2,596
Total assets	230,599
Accounts payable and accrued expenses	456
Security deposits payable	740
Lease intangibles	8,733
Other liabilities and deferred credits	497
Total liabilities	10,426
Geary Marketplace
Business Acquisition [Line Items]
Land	8,239
Building	11,179
Land improvements	704
Tenant improvements	470
Total real estate	20,592
Lease intangibles	1,017
Prepaid expenses and other assets	414
Total assets	22,023
Accounts payable and accrued expenses	0
Security deposits payable	0
Lease intangibles	1,124
Other liabilities and deferred credits	0
Total liabilities	$ 1,124

Real Estate Net Revenue and Net Income from Property Discontinued Operations (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Real Estate [Abstract]
Net revenue from discontinued operations					$ 0	$ 6,734	$ 10,133
Results from discontinued operations
Income from discontinued operations					0	932	1,672
Gain on sale of real estate from discontinued operations					0	36,720	3,981
Results from discontinued operations	$ 36,999	$ 317	$ 228	$ 108	$ 0	$ 37,652	$ 5,653

- Definition

Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References+ Details

Acquired In-Place Leases and Above/Below Market Leases (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of acquired above and below market leases	$ 2.4	$ (0.2)	$ (1.1)
Weighted-average amortization period of below market leases	8 years 8 months
Acquired lease, below market renewal options	$ 21.0
Weighted-average amortization period of acquired leases prior to the commencement of renewal option	9 years 10 months 20 days
In-place leases
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period of acquired leases	3 years 9 months
Above Market Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period of acquired leases	2 years 3 months

Acquired In-Place Leases and Above/Below Market Leases Summary of Acquired Lease Intangibles (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Finite-Lived Intangible Assets, Gross [Abstract]
Acquired lease intangible assets	$ 7,399	$ 11,483
Net of accumulated amortization of other intangible assets	(1,554)	(4,239)
Below Market Lease [Abstract]
Below market leases	76,502	80,071
Accumulated accretion	(28,592)	(25,721)
Acquired lease intangible liabilities, net	47,910	54,350
In-place leases
Finite-Lived Intangible Assets, Gross [Abstract]
Acquired lease intangible assets	62,813	72,598
Net of accumulated amortization of other intangible assets	(38,279)	(38,290)
Acquired lease intangible assets, net	24,534
Above Market Leases
Finite-Lived Intangible Assets, Gross [Abstract]
Acquired lease intangible assets	28,279	32,846
Net of accumulated amortization of other intangible assets	(20,880)	(21,363)
Acquired lease intangible assets, net	7,399
Acquired lease intangible assets
Finite-Lived Intangible Assets, Gross [Abstract]
Acquired lease intangible assets, net	$ 31,933	$ 45,791

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, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of leases	$ (6,732)	$ (10,485)	$ (9,976)
Amortization of below market leases	6,440	5,502	4,567
In-place leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of leases	(9,120)	(10,248)	(8,859)
Above Market Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization of leases	$ (4,052)	$ (5,739)	$ (5,684)

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, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
2014	$ 4,989
2015	4,588
2016	4,453
2017	4,097
2018	3,577
Thereafter	26,206
Acquired lease intangible liabilities, net	47,910	54,350
In-place leases
Acquired Finite-Lived Intangible Assets [Line Items]
2014	5,849
2015	4,777
2016	3,958
2017	3,193
2018	1,897
Thereafter	4,860
Acquired lease intangible assets, net	24,534
Above Market Leases
Acquired Finite-Lived Intangible Assets [Line Items]
2014	2,296
2015	1,752
2016	1,263
2017	932
2018	628
Thereafter	528
Acquired lease intangible assets, net	$ 7,399

Marketable Securities (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Investments, Debt and Equity Securities [Abstract]
Realized Loss	$ 0.7
Unrealized gains on marketable securities		$ 0.1

- Definition

This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities.

+ References+ Details

Other Assets (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Leasing commissions, net of accumulated amortization of $19,606 and $16,829 respectively	$ 18,071	$ 18,329
Acquired above market leases, net	7,399	11,483
Acquired in-place leases, net	24,534	34,308
Lease incentives, net of accumulated amortization of $2,590 and $2,220, respectively	1,110	1,480
Other intangible assets, net of accumulated amortization of $1,554 and $4,239, respectively	655	960
Debt issuance costs, net of accumulated amortization of $2,985 and $2,374, respectively	2,632	3,651
Prepaid expenses, deposits and other	3,269	3,459
Total other assets	$ 57,670	$ 73,670

- 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.

+ References+ Details

Other Assets (Parenthetical) (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Leasing commissions, accumulative amortization	$ 19,606	$ 16,829
Lease incentives, accumulated amortization	2,590	2,220
Other intangible assets, accumulated amortization	1,554	4,239
Debt issuance costs, accumulated amortization	$ 2,985	$ 2,374

Other Liabilities and Deferred Credits (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Other Liabilities Disclosure [Abstract]
Acquired below market leases, net	$ 47,910	$ 54,350
Prepaid rent and deferred revenue	7,506	6,383
Straight-line rent liability	1,145	63
Deferred rent expense	829	1,008
Deferred compensation	769	637
Deferred tax Liability	233	320
Other liabilities	73	50
Total other liabilities and deferred credits	$ 58,465	$ 62,811

Debt (Details) (USD $)	0 Months Ended		1 Months Ended	12 Months Ended								12 Months Ended				0 Months Ended			0 Months Ended
Debt (Details) (USD $)	Sep. 07, 2012	Jan. 10, 2012	Oct. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Oct. 10, 2012	Mar. 29, 2012	Mar. 07, 2011	Jan. 19, 2011	Jan. 19, 2011 Subject to meeting specified requirements and obtaining additional commitments	Dec. 31, 2013 Line of Credit	Jan. 09, 2014 Subsequent Event	Jan. 09, 2014 Subsequent Event Line of Credit	Jan. 09, 2014 Revolving Credit Facility Subsequent Event	Jan. 09, 2014 Revolving Credit Facility Subsequent Event Line of Credit Extension_Option	Feb. 21, 2014 Term Loan Subsequent Event	Jan. 09, 2014 Term Loan Subsequent Event	Jan. 09, 2014 Term Loan Subsequent Event Line of Credit Extension_Option	Jan. 09, 2014 LIBOR Subsequent Event Line of Credit	Jan. 09, 2014 Base Rate Subsequent Event Line of Credit	Jan. 09, 2014 Minimum LIBOR Revolving Credit Facility Subsequent Event Line of Credit	Jan. 09, 2014 Minimum LIBOR Term Loan Subsequent Event Line of Credit	Jan. 09, 2014 Minimum Base Rate Revolving Credit Facility Subsequent Event Line of Credit	Jan. 09, 2014 Minimum Base Rate Term Loan Subsequent Event Line of Credit	Jan. 09, 2014 Maximum LIBOR Revolving Credit Facility Subsequent Event Line of Credit	Jan. 09, 2014 Maximum LIBOR Term Loan Subsequent Event Line of Credit	Jan. 09, 2014 Maximum Base Rate Revolving Credit Facility Subsequent Event Line of Credit	Jan. 09, 2014 Maximum Base Rate Term Loan Subsequent Event Line of Credit	Jan. 09, 2014 Prior to December 31, 2015 Subsequent Event Line of Credit	Jan. 09, 2014 After December 31, 2015 Subsequent Event Line of Credit
Debt Instrument [Line Items]
Non-recourse mortgage loan			10 years
Original principal amount of non-recourse mortgage loan							$ 111,000,000.0
Maturity date of loan			Nov. 01, 2022
Interest rate			3.98%
Number of year non-recourse mortgage loan								7 years
Principal of non-recourse mortgage loan								21,900,000.0
Fixed rate interest on non-recourse loan								3.94%
Revolving credit facility borrowing limit, maximum borrowing capacity										250,000,000.0	400,000,000.0		350,000,000		250,000,000			100,000,000
Revolving credit facility borrowing limit, maximum allowable borrowing amount				222,300,000
Revolving credit facility outstanding amount				93,000,000													100,000,000	100,000,000
Interest rate on outstanding credit facility				1.80%
Interest expense				58,020,000	57,328,000	54,580,000						400,000
Years, maximum maturities of securities									30 years
Year, extension on term of revolving credit facility		1 year
Percent of secured indebtedness of the company's secured total asset value	55.00%
Line of credit facility material acquisition	greater than $100 million
Maximum leverage ratio of revolving credit facility	60.00%													60.00%
Minimum fixed charge coverage ratio on revolving credit facility	1.5																														1.5
Maximum secured leverage ratio on revolving credit facility	55.00%																													45.00%	40.00%
Percent minimum tangible net worth in relation to tangible net worth as of Offering										75.00%
Percent of net proceeds of any additional equity issuances in relation to net proceeds as of Offering										85.00%				75.00%
Maximum principal amount of recourse indebtedness outstanding at any time, aside from revolving credit facility	35,000,000.0
Percentage annual distributions cannot exceed funds from operations	95.00%													95.00%
Allowable additional borrowing capacity													250,000,000
Variable rate basis																				LIBOR	base rate
Basis spread on variable rate (in percents)																						1.35%	1.30%	0.35%	0.30%	1.95%	1.90%	0.95%	0.90%
Prime rate																					prime rate
Federal funds rate																					federal funds
Points added to federal funds rate (in percents)																					0.50%
Eurodollar																					Eurodollar
Points added to Eurodollar rate (in percents)																					100.00%
Extension term (in months)																6 months			12 months
Number of extensions available																2			3
Line of credit interest rate (in percents)																		3.08%
Maximum leverage ratio during a material acquisition period (in percents)														65.00%
Maximum secured leverage ratio during a material acquisition period (in percents)																														50.00%	45.00%
Minimum unsecured interest coverage ratio (in percents)																															175.00%
Maximum unsecured leverage ratio (in percents)														60.00%
Maximum unsecured leverage ratio during a material acquisition period (in percents)														65.00%
Minimum tangible net worth														$ 721,160,000.00
Maximum recourse indebtedness of total asset value (in percents)														15.00%

Debt Summary of Total Secured Notes Payable Outstanding (Details) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Mar. 29, 2012

Debt Instrument [Line Items]

Total

$ 962,259

$ 1,057,680

Unamortized fair value adjustment

(10,085)

(12,998)

Total Secured Notes Payable Balance

952,174

1,044,682

Stated Interest Rate

3.94%

Number of year amortization schedule

30 years

Alamo Quarry Market

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

^[1]

93,942

^[1]

Waikele Center

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

140,700

^[2]

140,700

^[2]

Stated Interest Rate

5.15%

^[2]

Stated Maturity Date

Nov. 01, 2014

^[2]

The Shops at Kalakaua

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

19,000

^[2]

19,000

^[2]

Stated Interest Rate

5.45%

^[2]

Stated Maturity Date

May 01, 2015

^[2]

The Land Mark at One Market

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

133,000

^[2],[3]

133,000

^[2],[3]

Stated Interest Rate

5.61%

^[2],[3]

Stated Maturity Date

Jul. 05, 2015

^[2],[3]

Del Monte Center

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

82,300

^[2]

82,300

^[2]

Stated Interest Rate

4.93%

^[2]

Stated Maturity Date

Jul. 08, 2015

^[2]

First & Main

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

84,500

^[2]

84,500

^[2]

Stated Interest Rate

3.97%

^[2]

Stated Maturity Date

Jul. 01, 2016

^[2]

Imperial Beach Gardens

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

20,000

^[2]

20,000

^[2]

Stated Interest Rate

6.16%

^[2]

Stated Maturity Date

Sep. 01, 2016

^[2]

Mariner's Point

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

7,700

^[2]

7,700

^[2]

Stated Interest Rate

6.09%

^[2]

Stated Maturity Date

Sep. 01, 2016

^[2]

South Bay Marketplace

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

23,000

^[2]

23,000

^[2]

Stated Interest Rate

5.48%

^[2]

Stated Maturity Date

Feb. 10, 2017

^[2]

Waikiki Beach Walk - Retail

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

130,310

^[2]

130,310

^[2]

Stated Interest Rate

5.39%

^[2]

Stated Maturity Date

Jul. 01, 2017

^[2]

Solana Beach Corporate Centre III-IV

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

36,804

37,204

Stated Interest Rate

6.39%

Stated Maturity Date

Aug. 01, 2017

Loma Palisades

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

73,744

^[2]

73,744

^[2]

Stated Interest Rate

6.09%

^[2]

Stated Maturity Date

Jul. 01, 2018

^[2]

One Beach Street

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

21,900

^[2]

21,900

^[2]

Stated Interest Rate

3.94%

^[2]

Stated Maturity Date

Apr. 01, 2019

^[2]

Torrey Reserve - North Court

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

21,377

^[1]

21,659

^[1]

Stated Interest Rate

7.22%

^[1]

Stated Maturity Date

Jun. 01, 2019

^[1]

Torrey Reserve-VCI, VCII, VCIII

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

7,200

^[1]

7,294

^[1]

Stated Interest Rate

6.36%

^[1]

Stated Maturity Date

Jun. 01, 2020

^[1]

Solana Beach Corporate Centre I-II

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

11,475

^[1]

11,637

^[1]

Stated Interest Rate

5.91%

^[1]

Stated Maturity Date

Jun. 01, 2020

^[1]

Solana Beach Towne Centre

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

38,249

^[1]

38,790

^[1]

Stated Interest Rate

5.91%

^[1]

Stated Maturity Date

Jun. 01, 2020

^[1]

City Center Bellevue

Debt Instrument [Line Items]

Secured notes payable, Principal Balance

$ 111,000

^[2]

$ 111,000

^[2]

Stated Interest Rate

3.98%

^[2]

Stated Maturity Date

Nov. 01, 2022

^[2]

[1]	Principal payments based on a 30-year amortization schedule.
[2]	Interest only.
[3]	Maturity Date is the earlier of the loan maturity date under the loan agreement, or the “Anticipated Repayment Date” as specifically defined in the loan agreement, which is the date after which substantial economic penalties apply if the loan has not been paid off.

Debt Scheduled Principal Payments on Notes Payable (Details) (USD $)
In Thousands, unless otherwise specified

Dec. 31, 2013

Dec. 31, 2012

Debt Disclosure [Abstract]

$ 142,276

235,980

113,974

190,139

75,224

204,666

$ 962,259

^[1]

$ 1,057,680

^[1]

[1]	Excludes unamortized fair market value adjustment of $10.1 million and $13.0 million as of December 31, 2013 and 2012, respectively.

Equity (Details) (USD $)	0 Months Ended	12 Months Ended			1 Months Ended		12 Months Ended			1 Months Ended			0 Months Ended	3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended	3 Months Ended	12 Months Ended
Equity (Details) (USD $)	Feb. 14, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Mar. 31, 2011 Restricted Stock	Jan. 31, 2011 Restricted Stock Installment	Dec. 31, 2013 Restricted Stock	Jun. 13, 2013 Restricted Stock	Jul. 10, 2012 Restricted Stock	Jan. 31, 2011 Restricted Stock Non Employee Directors Installment	Jan. 31, 2011 Time Based Restricted Stock Executive Officers	Jan. 31, 2011 Performance Based Restricted Stock Executive Officers	May 06, 2013 At The Market Equity Program Agent	Dec. 31, 2013 At The Market Equity Program	Dec. 31, 2013 At The Market Equity Program	Dec. 31, 2013 Commissions At The Market Equity Program	Dec. 31, 2013 Commissions At The Market Equity Program	Dec. 31, 2013 Other Offering Costs At The Market Equity Program	Dec. 31, 2013 Other Offering Costs At The Market Equity Program
Equity [Line Items]
Number of sales agents for the at-the-market equity program													4
Aggregate offering price for the at-the-market equity program													$ 150,000,000.0
Common stock, shares issued	251,050													22,738	741,452
Weighted average price per share														$ 32.25	$ 35.00
Proceeds from issuance of common stock, net		25,348,000	0	596,541,000										700,000	26,000,000
Payments of stock issuance costs																10,000	300,000	100,000	800,000
Remaining capacity available for issuance														124,000,000	124,000,000
Noncontrolling common units		17,917,109
Percentage of ownership interests classified as noncontrolling		31.00%
Proceeds from private placement of common units	5,400,000	0	0	5,410,000
Shares of common stock		106,236	372,654
Preferred stock, shares authorized		10,000,000
Preferred stock, par-value		$ 0.01
Equity incentive award plan, common stock authorized for issuance		4,054,411
Equity incentive award plan, common stock available for future issuance		3,425,353
Equity incentive award plan, granted					123,950					1,951	198,000	297,000
Equity incentive award plan, fair value					1,600,000					200,000	4,100,000	3,900,000
Performance period to which performance-based vesting is subject, years						3 years
Vesting installments of restricted shares						2
Restricted stock granted										one-third
Restricted stock awards ratable vesting periods (First installment)										3
Restricted shares granted to members for board (in shares)								5,004	8,015
Noncash compensation expense recognized		2,800,000	2,900,000	2,600,000
Unrecognized compensation expense		$ 1,600,000
Unrecognized compensation expense, weighted-average recognition period (in years)							7 months 2 days
Weighted average unvested shares outstanding		630,130	629,493	578,489

Equity Dividends Declared and Paid on Shares of Common Stock and Noncontrolling Common Units (Details) (USD $)	3 Months Ended												12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Equity [Abstract]
Dividend Period	Fourth Quarter 2013	Third Quarter 2013	Second Quarter 2013	First Quarter 2013	Fourth Quarter 2012	Third Quarter 2012	Second Quarter 2012	First Quarter 2012	Fourth Quarter 2011	Third Quarter 2011	Second Quarter 2011	First Quarter 2011
Amount per Share/Unit	$ 0.22	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.17	$ 0.85	$ 0.84	$ 0.80
Dividends Period Covered	October 1, 2013 to December 31, 2013	July 1, 2013 to September 30, 2013	April 1, 2013 to June 30, 2013	January 1, 2013 to March 31, 2013	October 1, 2012 to December 31, 2012	July 1, 2012 to September 30, 2012	April 1, 2012 to June 30, 2012	January 1, 2012 to March 31, 2012	October 1, 2011 to December 31, 2011	July 1, 2011 to September 30, 2011	April 1, 2011 to June 30, 2011	January 19, 2011 to March 31, 2011
Dividend Paid Date	Dec. 27, 2013	Sep. 27, 2013	Jun. 28, 2013	Mar. 29, 2013	Dec. 28, 2012	Sep. 28, 2012	Jun. 29, 2012	Mar. 30, 2012	Dec. 29, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011

Equity Summary of Income Tax Status of Dividends Per Share Paid (Details) (USD $)	3 Months Ended												12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Equity [Abstract]
Ordinary income													$ 0.83	$ 0.56	$ 0.22
Return of capital													$ 0.02	$ 0.28	$ 0.58
Total	$ 0.22	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.21	$ 0.17	$ 0.85	$ 0.84	$ 0.80
Ordinary income													97.60%	66.70%	27.50%
Return of capital													2.40%	33.30%	72.50%
Total													100.00%	100.00%	100.00%

Equity Summary of Activity of Restricted Stock Awards (Details) (Restricted Stock Units (RSUs), USD $)	12 Months Ended
	Dec. 31, 2013
Restricted Stock Units (RSUs)
Nonvested, Number of Shares
Nonvested, Beginning, Shares	633,222
Granted, Shares	5,004
Vested, Shares	(4,737)
Forfeited, Shares	(4,431)
Nonvested, Ending, Shares	629,058
Nonvested, Weighted Average Grant Date Fair Value
Nonvested, Beginning, Weighted Average Grant Date Fair Value	$ 15.64
Granted, Weighted Average Grant Date Fair Value	$ 31.97
Vested, Weighted Average Grant Date Fair Value	$ 22.55
Forfeited, Weighted Average Grant Date Fair Value	$ 19.38
Nonvested, Ending, Weighted Average Grant Date Fair Value	$ 15.58

Equity Computation of Basic and Diluted EPS (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
NUMERATOR
Income from continuing operations					$ 4,822	$ 3,968	$ 2,396	$ 2,763	$ 22,594	$ 13,949	$ 13,671
Less: Net income attributable to restricted shares	(139)	(132)	(133)	(132)	(133)	(133)	(131)	(132)	(536)	(529)	(482)
Plus: Loss from continuing operations attributable to Predecessor's noncontrolling interests in consolidated real estate entities									0	0	2,455
Less: Income from continuing operations attributable to Predecessor's controlled owners' equity									0	0	(16,962)
Plus: (Income) loss from continuing operations attributable to unitholders in the Operating Partnership									(6,838)	(4,239)	425
Income (loss) from continuing operations attributable to American Assets Trust, Inc. common stockholders-basic									15,220	9,181	(893)
Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders									0	25,758	3,810
NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS	4,682	4,223	3,077	3,238	28,577	2,817	1,689	1,856	15,220	34,939	2,917
Income (loss) from continuing operations attributable to American Assets Trust, Inc. common stockholders—basic									15,220	9,181	(893)
Less: Income (loss) from continuing operations attributable to unitholders in the Operating Partnership									6,838	4,239	(425)
Income (loss) from continuing operations attributable to common stockholders-diluted									22,058	13,420	(1,318)
Plus: Results from discontinued operations attributable to American Assets Trust, Inc. common stockholders									0	25,758	3,810
Plus: Results from discontinued operations attributable to unitholders in the Operating Partnership									0	11,894	1,813
Net income attributable to common stockholders-diluted									$ 22,058	$ 51,072	$ 4,305
DENOMINATOR
Weighted average common shares outstanding-basic									39,539,457	38,736,113	36,748,806
Effect of dilutive securities-conversion of Operating Partnership units									17,976,353	18,317,796	17,471,001
Weighted average common shares outstanding - diluted									57,515,810	57,053,909	54,219,807
Earnings (loss) per common share-basic
Continuing operations									$ 0.38	$ 0.24	$ (0.02)
Discontinued operations									$ 0.00	$ 0.66	$ 0.10
Basic net income attributable to common stockholders per share									$ 0.38	$ 0.90	$ 0.08
Earnings (loss) per common share-diluted
Continuing operations									$ 0.38	$ 0.24	$ (0.02)
Discontinued operations									$ 0.00	$ 0.66	$ 0.10
Diluted net income attributable to common stockholders per share									$ 0.38	$ 0.90	$ 0.08

Income Taxes (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Deferred tax assets	$ 87
Deferred tax Liability	$ 233	$ 320

Income Taxes Income Tax Provision Included in Other Income Expense on Consolidated Statement of Operations (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Statement [Abstract]
Federal	$ 370	$ 361	$ 483
State	362	335	90
Federal	(47)	118	0
State	(40)	202	0
Provision for income taxes	$ 645	$ 1,016	$ 573

- Definition

Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

- Definition

Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

- Definition

Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

- Definition

Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations.

+ References+ Details

Commitments and Contingencies (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2013 Property	Dec. 31, 2012
Commitment And Contingencies [Line Items]
Termination payment	$ 6.4
Percentage, partner's common units	50.00%
Transfer taxes accrued in connection with the Offering	$ 6.6
Number of consolidated properties located in Southern California	12
Maximum percentage of total revenue provided by any single tenant	10.00%	10.00%
Total Revenue \| Southern California
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	28.70%
Total Revenue \| Hawaii
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	21.50%
Rental Income
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	12.10%
Number of tenants that comprise 10.7% of total annualized based rent	5
Maximum
Commitment And Contingencies [Line Items]
Property management fee, percent	5.50%
Maximum \| Tenants
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	2.00%
The Land Mark at One Market
Commitment And Contingencies [Line Items]
Number of lease extension options	2
Years, lease extension options length	5 years
Quicksilver
Commitment And Contingencies [Line Items]
Percent annual lease amount increase	3.40%
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 \| Future Year Period One
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	15 years
Outrigger Hotels \| Future Year Period Two
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	14 years
Outrigger Hotels \| Future Year Period Three
Commitment And Contingencies [Line Items]
Years in hotel management agreement term	13 years
Outrigger Hotels \| Future Year Period Four
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%
Del Monte Center
Commitment And Contingencies [Line Items]
Years, environmental remediation length	3 years
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%
Lloyd District Portfolio
Commitment And Contingencies [Line Items]
Property management fee, percent	3.50%
Initial term of contract	2 years
Contract renewal options	3
Years, contract renewal option length	1 year
Total Revenues \| Retail industry
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	36.60%	39.10%
Total Revenues \| Office industry
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	35.50%	33.20%
Base Rent \| salesforce.com, inc.
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	7.90%
Alamo Quarry Market and Waikele Center \| Total Revenue
Commitment And Contingencies [Line Items]
Percentage of total revenue provided by properties	15.80%	17.10%

Commitments and Contingencies Current Minimum Annual Payments under Leases (Details) (USD $)

Dec. 31, 2013

Commitments and Contingencies Disclosure [Abstract]

$ 2,569,000

2,636,000

1,709,000

736,000

^[1]

2018

740,000

Thereafter

2,221,000

Total

10,611,000

Stated monthly lease rate for February 2017

$ 61,690

[1]	Lease payments on the Waikiki Beach Walk lease will be equal to fair rental value from March 2017 through the end of the lease term. In the table, we have shown the lease payments for this period based on the stated rate for the month of February 2017 of $61,690.

Operating Leases (Details)	12 Months Ended
Operating Leases (Details)	Dec. 31, 2013 State Property
Operating Leased Assets [Line Items]
Number of states where retail, office and mixed-use properties are located	5
Number of leased properties	23
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
Retail Or Office
Operating Leased Assets [Line Items]
Number of leased properties	818
Residential Property
Operating Leased Assets [Line Items]
Number of leased properties	783

Operating Leases Minimum Future Rentals from Noncancelable Operating Leases (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013
Leases, Operating [Abstract]
2014	$ 153,059
2015	145,172
2016	125,696
2017	108,442
2018	76,315
Thereafter	146,522
Total	$ 755,206

Component of Rental Income and Expense Components of Rental Income (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Rental Income [Line Items]
Cost reimbursement	$ 27,583	$ 27,763	$ 24,463
Percentage rent	2,655	2,608	1,967
Hotel revenue	35,137	31,729	27,125
Other	1,688	1,597	1,436
Total rental income	242,757	225,249	194,168
Total Retail
Rental Income [Line Items]
Minimum rents	69,374	67,046	63,996
Total Office
Rental Income [Line Items]
Minimum rents	81,845	71,817	53,457
Total Multifamily
Rental Income [Line Items]
Minimum rents	14,926	13,796	13,246
Total Mixed-Use
Rental Income [Line Items]
Minimum rents	$ 9,549	$ 8,893	$ 8,478

Component of Rental Income and Expense Components of Rental Expenses (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Operating Leases, Income Statement, Lease Revenue [Abstract]
Rental operating	$ 26,028	$ 24,264	$ 22,008
Hotel operating	22,115	20,905	18,885
Repairs and maintenance	10,514	9,452	8,082
Marketing	1,547	1,266	1,390
Rent	2,442	2,378	2,767
Hawaii excise tax	4,153	3,813	3,379
Management fees	1,809	2,011	1,622
Total rental expenses	$ 68,608	$ 64,089	$ 58,133

Other Income (Expenses) (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Other Income and Expenses [Abstract]
Interest and investment income	$ 148	$ 336	$ 1,621
Income tax expense	(645)	(1,016)	(831)
Loss from real estate joint ventures	0	0	(188)
Acquisition related expenses	0	(152)	(434)
Fee income from real estate joint ventures	0	0	44
Other non-operating income	10	203	0
Total other income (expense)	$ (487)	$ (629)	$ 212

Related Party Transactions (Details) (USD $)	12 Months Ended				12 Months Ended				12 Months Ended
Related Party Transactions (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Jan. 15, 2008 Del Monte Center	Dec. 31, 2013 ICW Plaza	Dec. 31, 2012 ICW Plaza	Dec. 31, 2011 ICW Plaza	May 31, 2011 ICW Plaza sqft	Dec. 31, 2013 Valencia Corporate Center	Dec. 31, 2012 Valencia Corporate Center	Dec. 31, 2011 Valencia Corporate Center	Dec. 31, 2013 WBW CHP LLC	Dec. 31, 2012 WBW CHP LLC	Dec. 31, 2011 WBW CHP LLC	Dec. 31, 2013 Management and supervision of tenant improvements For projects where the Company directly supervised construction subcontractors	Dec. 31, 2013 Management and supervision of tenant improvements For projects where the Company managed a general contractor	Dec. 31, 2013 Minimum	Dec. 31, 2013 Minimum Management and supervision of buildings and improvements	Dec. 31, 2013 Maximum	Dec. 31, 2013 Maximum Management and supervision of buildings and improvements
Related Party Transaction [Line Items]
Property management fees, percentage of gross monthly cash collections																	1.25%		5.50%
Property management fees, minimum monthly fees																	$ 2,500		$ 5,000
Construction management fees, percentage of construction and development costs															10.00%	3.00%		3.00%		5.00%
Acquisition and Disposition Fees, percentage of value of all acquisitions or dispositions																	0.50%		1.00%
Leasing fees, percentage of value of all leases executed	1.00%
Asset management fees, hourly rates																	40		125
Financing Fees as a percentage of financed amount																	0.25%		0.50%
Financing fees, flat fee	50,000
Unsecured loans				12,000,000
Percentage interest on notes payable to affiliates				10.00%
Total rental income	242,757,000	225,249,000	194,168,000		2,200,000	2,100,000	2,300,000		0	0	1,200,000
Square footage of property								12,000
Investment in WBW CHP LLC, in percentage	47.70%
Recovered reimbursements of operating expenses of WBW CHP LLC												$ 1,100,000	$ 1,000,000	$ 1,000,000

Fees Earned from Unconsolidated Joint Ventures Prior to Formation Transactions (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Related Party Transactions [Abstract]
Property management fees	$ 0	$ 0	$ 38
Maintenance reimbursements	0	0	6
Total fee income from real estate joint ventures	$ 0	$ 0	$ 44

Related Party Transactions Summary of Outstanding Notes Receivable from Affiliate Balances and Related Interest Income (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Related Party Transactions [Abstract]
Notes receivable from affiliate	$ 0	$ 0	$ 0
Interest income	$ 0	$ 0	$ 3

- Definition

For an unclassified balance sheet, amount of receivables due from an entity that is affiliated with the reporting entity by means of direct or indirect ownership.

+ References+ Details

Segment Reporting Operating Activity Within Reportable Segments (Detail) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting Information [Line Items]
Operating income (loss)	$ 20,407	$ 21,441	$ 19,373	$ 19,880	$ 20,247	$ 18,206	$ 16,641	$ 16,812	$ 81,101	$ 71,906	$ 56,343
Gross Profit									165,071	149,352	125,906
Total Retail
Segment Reporting Information [Line Items]
Property revenue									93,449	91,991	86,511
Property expense									(23,900)	(24,955)	(24,512)
Operating income (loss)									69,549	67,036	61,999
Total Office
Segment Reporting Information [Line Items]
Property revenue									90,527	78,101	57,319
Property expense									(26,688)	(23,780)	(18,015)
Operating income (loss)									63,839	54,321	39,304
Total Multifamily
Segment Reporting Information [Line Items]
Property revenue									16,125	14,852	14,321
Property expense									(5,917)	(5,914)	(5,578)
Operating income (loss)									10,208	8,938	8,743
Total Mixed-Use
Segment Reporting Information [Line Items]
Property revenue									54,956	50,522	44,634
Property expense									(33,481)	(31,465)	(28,774)
Operating income (loss)									$ 21,475	$ 19,057	$ 15,860

Segment Reporting Reconciliation of Segment Profit to Net Income Attributable to Stockholders (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Segment Reporting [Abstract]
Gross Profit									$ 165,071	$ 149,352	$ 125,906
General and administrative									(17,195)	(15,593)	(13,627)
Depreciation and amortization									(66,775)	(61,853)	(55,936)
Interest expense									(58,020)	(57,328)	(54,580)
Early extinguishment of debt									0	0	(25,867)
Loan transfer and consent fees									0	0	(8,808)
Gain on acquisition									0	0	46,371
Other income (expense), net									(487)	(629)	212
Income from continuing operations					4,822	3,968	2,396	2,763	22,594	13,949	13,671
Discontinued operations
Income from discontinued operations									0	932	1,672
Gain on sale of real estate property									0	36,720	3,981
Results from discontinued operations					36,999	317	228	108	0	37,652	5,653
Net income	6,907	6,258	4,564	4,865	41,821	4,285	2,624	2,871	22,594	51,601	19,324
Net income attributable to restricted shares	(139)	(132)	(133)	(132)	(133)	(133)	(131)	(132)	(536)	(529)	(482)
Net loss attributable to Predecessor's noncontrolling interests in consolidated real estate entities									0	0	2,458
Net income attributable to Predecessor's controlled owners' equity									0	0	(16,995)
Net income attributable to unitholders in the Operating Partnership	(2,086)	(1,903)	(1,354)	(1,495)	(13,111)	(1,335)	(804)	(883)	(6,838)	(16,133)	(1,388)
Net income attributable to American Assets Trust, Inc. stockholders	$ 4,682	$ 4,223	$ 3,077	$ 3,238	$ 28,577	$ 2,817	$ 1,689	$ 1,856	$ 15,220	$ 34,939	$ 2,917

Segment Reporting Net Real Estate and Secured Note Payable Balances for Each Segment (Details) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Segment Reporting Information [Line Items]

Net Real Estate

$ 1,676,836

$ 1,668,182

Secured Notes Payable

962,259

^[1]

1,057,680

^[1]

Capital Expenditures and Leasing Commissions

58,707

^[2]

38,038

^[2]

Unamortized fair value adjustment

10,085

12,998

Total Retail

Segment Reporting Information [Line Items]

Net Real Estate

651,707

669,177

Secured Notes Payable

303,249

^[1]

397,732

^[1]

Capital Expenditures and Leasing Commissions

4,849

^[2]

14,211

^[2]

Total Office

Segment Reporting Information [Line Items]

Net Real Estate

790,153

759,203

Secured Notes Payable

427,256

^[1]

428,194

^[1]

Capital Expenditures and Leasing Commissions

27,275

^[2]

22,136

^[2]

Total Multifamily

Segment Reporting Information [Line Items]

Net Real Estate

35,349

36,391

Secured Notes Payable

101,444

^[1]

101,444

^[1]

Capital Expenditures and Leasing Commissions

24,641

^[2]

964

^[2]

Total Mixed-Use

Segment Reporting Information [Line Items]

Net Real Estate

199,627

203,411

Secured Notes Payable

130,310

^[1]

130,310

^[1]

Capital Expenditures and Leasing Commissions

$ 1,942

^[2]

$ 727

^[2]

[1]	Excludes unamortized fair market value adjustment of $10.1 million and $13.0 million as of December 31, 2013 and 2012, respectively.
[2]	Capital expenditures represent cash paid for capital expenditures during the year and include leasing commissions paid.

Quarterly Financial Information (Unaudited) Selected Quarterly Information (Details) (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Quarterly Financial Information Disclosure [Abstract]
Total revenue	$ 64,645	$ 65,318	$ 62,914	$ 62,180	$ 63,120	$ 60,766	$ 56,131	$ 55,449	$ 255,057	$ 235,466	$ 202,785
Operating income (loss)	20,407	21,441	19,373	19,880	20,247	18,206	16,641	16,812	81,101	71,906	56,343
Income (loss) from continuing operations					4,822	3,968	2,396	2,763	22,594	13,949	13,671
Results from discontinued operations					36,999	317	228	108	0	37,652	5,653
Net income	6,907	6,258	4,564	4,865	41,821	4,285	2,624	2,871	22,594	51,601	19,324
Net income attributable to restricted shares	(139)	(132)	(133)	(132)	(133)	(133)	(131)	(132)	(536)	(529)	(482)
Net income attributable to unitholders in the Operating Partnership	(2,086)	(1,903)	(1,354)	(1,495)	(13,111)	(1,335)	(804)	(883)	(6,838)	(16,133)	(1,388)
Net income (loss) attributable to American Assets Trust, Inc. stockholders	$ 4,682	$ 4,223	$ 3,077	$ 3,238	$ 28,577	$ 2,817	$ 1,689	$ 1,856	$ 15,220	$ 34,939	$ 2,917
Net income from continuing operations attributable to common stockholders-basic and diluted	$ 0.11	$ 0.11	$ 0.08	$ 0.08	$ 0.08	$ 0.07	$ 0.04	$ 0.05
Net income from discontinued operations attributable to common stockholders-basic and diluted					$ 0.65	$ 0.01	$ 0.00	$ 0.00
Net income attributable to common stockholders-basic and diluted	$ 0.11	$ 0.11	$ 0.08	$ 0.08	$ 0.73	$ 0.08	$ 0.04	$ 0.05

Subsequent Events (Details) (USD $)							0 Months Ended
Subsequent Events (Details) (USD $)	Dec. 31, 2013	Jan. 19, 2011	Jan. 09, 2014 Subsequent Event	Jan. 09, 2014 Revolving Credit Facility Subsequent Event	Feb. 21, 2014 Term Loan Subsequent Event	Jan. 09, 2014 Term Loan Subsequent Event	Jan. 09, 2014 Line of Credit Revolving Credit Facility Subsequent Event Extension_Option	Jan. 09, 2014 Line of Credit Term Loan Subsequent Event Extension_Option
Subsequent Event [Line Items]
Revolving credit facility borrowing limit, maximum borrowing capacity		$ 250,000,000.0	$ 350,000,000	$ 250,000,000		$ 100,000,000
Number of extensions available							2	3
Extension term (in months)							6 months	12 months
Allowable additional borrowing capacity			250,000,000
Revolving credit facility outstanding amount	$ 93,000,000				$ 100,000,000	$ 100,000,000

SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation (Details) (USD $)					12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2013 Alamo Quarry Market	Dec. 31, 2013 Carmel Country Plaza	Dec. 31, 2013 Carmel Mountain Plaza	Dec. 31, 2013 Del Monte Center	Dec. 31, 2013 Geary Marketplace	Dec. 31, 2013 Lomas Santa Fe Plaza	Dec. 31, 2013 Rancho Carmel Plaza	Dec. 31, 2013 The Shops at Kalakaua	Dec. 31, 2013 Solana Beach Towne Centre	Dec. 31, 2013 South Bay Marketplace	Dec. 31, 2013 Waikele Center	Dec. 31, 2013 City Center Bellevue	Dec. 31, 2013 First & Main	Dec. 31, 2013 The Land Mark at One Market	Dec. 31, 2013 Lloyd District Portfolio	Dec. 31, 2013 One Beach Street	Dec. 31, 2013 Solana Beach Corporate Centre I-II	Dec. 31, 2013 Solana Beach Corporate Centre III-IV	Dec. 31, 2013 Solana Beach Corporate Centre Land	Dec. 31, 2013 ICW Plaza	Dec. 31, 2013 Pacific North Court	Dec. 31, 2013 Pacific South Court	Dec. 31, 2013 Pacific VC	Dec. 31, 2013 Pacific Torrey Daycare	Dec. 31, 2013 Torrey Reserve Building 6	Dec. 31, 2013 Torrey Reserve Land	Dec. 31, 2013 Imperial Beach Gardens	Dec. 31, 2013 Loma Palisades	Dec. 31, 2013 Mariner's Point	Dec. 31, 2013 Santa Fe Park Rv Resort	Dec. 31, 2013 Waikiki Beach Walk - Retail	Dec. 31, 2013 Waikiki Beach Walk Hotel	Dec. 31, 2013 Solana Beach Highway 101 Land	Dec. 31, 2013 Sorrento Valley Holdings Land
Real Estate and Accumulated Depreciation [Line Items]
Encumbrance as of December 31, 2013	$ 962,259,000				$ 0	$ 0	$ 0	$ 82,300,000	$ 0	$ 0	$ 0	$ 19,000,000	$ 38,249,000	$ 23,000,000	$ 140,700,000	$ 111,000,000	$ 84,500,000	$ 133,000,000	$ 0	$ 21,900,000	$ 11,475,000	$ 36,804,000	$ 0	$ 0	$ 21,377,000	$ 0	$ 7,200,000	$ 0	$ 0	$ 0	$ 20,000,000	$ 73,744,000	$ 7,700,000	$ 0	$ 130,310,000	$ 0	$ 0	$ 0
Initial Cost, Land	457,017,000				26,396,000	4,200,000	22,477,000	27,412,000	8,239,000	8,600,000	3,450,000	13,993,000	40,980,000	4,401,000	55,593,000	25,135,000	14,697,000	34,575,000	18,660,000	15,332,000	7,111,000	7,298,000	487,000	4,095,000	3,263,000	3,285,000	1,413,000	715,000	0	229,000	1,281,000	14,000,000	2,744,000	401,000	45,995,000	30,640,000	7,847,000	2,073,000
Initial Cost, Building and Improvements	1,191,446,000				109,294,000	0	65,217,000	87,570,000	12,353,000	11,282,000	0	10,919,000	38,842,000	0	126,858,000	190,998,000	109,739,000	141,196,000	61,401,000	18,017,000	17,100,000	27,887,000	0	0	0	0	0	0	0	0	4,820,000	16,570,000	4,540,000	928,000	74,943,000	60,029,000	202,000	741,000
Cost Capitalized Subsequent to Acquisition	346,954,000				11,629,000	11,442,000	21,000,000	21,796,000	37,000	9,622,000	3,763,000	100,000	1,715,000	10,626,000	58,530,000	5,589,000	2,968,000	7,887,000	34,910,000	1,933,000	2,221,000	1,102,000	60,000	34,941,000	22,801,000	21,589,000	8,585,000	1,671,000	7,795,000	10,678,000	4,013,000	18,063,000	1,124,000	774,000	63,000	3,522,000	417,000	3,988,000
Gross Carrying Amount, Land	493,420,000				26,816,000	4,200,000	31,035,000	27,117,000	8,238,000	8,620,000	3,487,000	14,006,000	40,980,000	4,401,000	70,643,000	25,135,000	14,697,000	34,575,000	18,660,000	15,332,000	7,111,000	7,298,000	547,000	4,788,000	4,309,000	4,226,000	2,148,000	911,000	682,000	3,825,000	1,281,000	14,051,000	2,744,000	401,000	45,995,000	30,640,000	8,466,000	6,055,000
Gross Carrying Amount, Building and Improvements	1,501,997,000				120,503,000	11,442,000	77,659,000	109,661,000	12,391,000	20,884,000	3,726,000	11,006,000	40,557,000	10,626,000	170,338,000	196,587,000	112,707,000	149,083,000	96,311,000	19,950,000	19,321,000	28,989,000	0	34,248,000	21,755,000	20,648,000	7,850,000	1,475,000	7,113,000	7,082,000	8,833,000	34,582,000	5,664,000	1,702,000	75,006,000	63,551,000	0	747,000
Accumulated Depreciation and Amortization	(318,581,000)	(270,494,000)	(234,595,000)	(221,997,000)	(37,804,000)	(6,536,000)	(25,985,000)	(40,558,000)	(422,000)	(12,630,000)	(2,101,000)	(3,044,000)	(4,038,000)	(5,845,000)	(45,943,000)	(8,655,000)	(10,454,000)	(15,818,000)	(7,427,000)	(1,224,000)	(1,845,000)	(3,036,000)	0	(10,084,000)	(10,284,000)	(9,289,000)	(4,158,000)	(738,000)	(36,000)	0	(7,208,000)	(23,035,000)	(2,313,000)	(1,353,000)	(6,984,000)	(8,581,000)	(189,000)	(964,000)
Year Built/ Renovated					1997/1999	1991	1994	1967/1984/2006	2012	1972/1997	1993	1971/2006	1973/2000/2004	1997	1993/2008	1987	2010	1917/2000	1940-2011	1924/1972/1987/1992	1982/2005	1982/2005	N/A	1996-1997	1997-1998	1996-1997	1998/2000	1996-1997	2013	N/A	1959/2008-present	1958/2001-2008	1986	1971/2007-2008	2006	2008	N/A	N/A
Date Acquired					Dec. 09, 2003	Jan. 10, 1989	Mar. 28, 2003	Apr. 08, 2004	Dec. 19, 2012	Jun. 12, 1995	Apr. 30, 1990	Mar. 31, 2005	Jan. 19, 2011	Sep. 16, 1995	Sep. 16, 2004	Aug. 21, 2012	Mar. 11, 2011	Jun. 30, 2010	Jul. 01, 2011	Jan. 24, 2012	Jan. 19, 2011	Jan. 19, 2011	Jan. 19, 2011	Jun. 06, 1989	Jun. 06, 1989	Jun. 06, 1989	Jun. 06, 1989	Jun. 06, 1989	Jun. 06, 1989	Jun. 06, 1989	Jul. 31, 1985	Jul. 20, 1990	May 09, 2001	Jun. 01, 1979	Jan. 19, 2011	Jan. 19, 2011	Sep. 20, 2011	May 09, 1997
Life on which depreciation in latest income statements is computed					35 years	35 years	35 years	35 years	35 years	35 years	35 years	35 years	35 years	35 years	35 years	40 years	40 years	40 years	40 years	40 years	40 years	40 years		40 years	40 years	40 years	40 years	40 years	40 years		30 years	30 years	30 years	30 years	35 years	35 years
The Aggregate tax basis for Federal tax purposes	$ 1,400,000,000

SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation Rollforward (Details) (USD $)
In Thousands, unless otherwise specified

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Real estate assets

Balance, beginning of period

$ 1,938,676

$ 1,687,276

$ 1,165,097

Property acquisitions

270,082

563,858

Improvements

60,677

^[1]

41,303

^[1]

13,595

^[1]

Cost of Real Estate Sold

(57,188)

(37,599)

Other

(3,936)

^[1],[2]

(2,797)

^[1],[2]

(17,675)

^[1],[2]

Balance, end of period

1,995,417

1,938,676

1,687,276

Accumulated depreciation

Balance, beginning of period

270,494

234,595

221,997

Additions-depreciation

51,949

^[1]

47,792

^[1]

42,498

^[1]

Cost of Real Estate Sold

(9,216)

(12,225)

Other

(3,862)

^[1],[2]

(2,677)

^[1],[2]

(17,675)

^[1],[2]

Balance, end of period

$ 318,581

$ 270,494

$ 234,595

[1]	Includes discontinued operations for 160 King Street, which was sold on December 4, 2012 and Valencia Corporate Center, which was sold on August 30, 2011.
[2]	Other deductions for the years ended December 31, 2013, 2012 and 2011 represent the write-off of fully depreciated assets.

Fair Value of Financial Instruments (Details)	12 Months Ended
Fair Value of Financial Instruments (Details)	Dec. 31, 2013
Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Interest rate used to estimate fair value of mortgages and notes payable (in percents)	3.75%
Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Interest rate used to estimate fair value of mortgages and notes payable (in percents)	5.71%

Fair Value of Financial Instruments Liabilities Fair Value Measurement on a Recurring Basis (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	$ 769	$ 637
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	769	637
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	$ 0	$ 0

Fair Value of Financial Instruments Carrying Amount and Fair Value of Financial Instruments (Details) (USD $) In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Secured Debt \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes payable	$ 952,174	$ 1,044,682
Secured Debt \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes payable	990,296	1,116,162
Line of Credit \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes payable	93,000	0
Line of Credit \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Secured notes payable	$ 93,000	$ 0

Segment Reporting (Details)	12 Months Ended
Segment Reporting (Details)	Dec. 31, 2013 Segment Room
Segment Reporting [Abstract]
Number of operating segments	4
Room in mixed-use segment all-suite hotel	369