| X | ||||||||||
- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
|
| X | ||||||||||
- Definition End date of current fiscal year in the format --MM-DD. No definition available.
|
| X | ||||||||||
- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
|
| X | ||||||||||
- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
|
| X | ||||||||||
- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
|
| X | ||||||||||
- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
|
| X | ||||||||||
- Definition Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
|
| X | ||||||||||
- Definition Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
|
| X | ||||||||||
- Definition State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
|
| X | ||||||||||
- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
|
| X | ||||||||||
- Definition Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
|
| X | ||||||||||
- Definition Trading symbol of an instrument as listed on an exchange. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Definition Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition For an unclassified balance sheet, the amount due from customers or clients for goods or services that have been delivered or sold in the normal course of business, reduced to their estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total carrying amount as of the balance sheet date of unearned revenue or income, not otherwise specified in the taxonomy, which is expected to be taken into income in future periods and obligations not separately disclosed in the balance sheet (other liabilities). No definition available.
|
| X | ||||||||||
- Definition The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property, by the lessor or lessee, respectively. Such receivable is reduced by allowances attributable to, for instance, credit risk associated with a lessee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of the general partner's ownership interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying amount of land available for development. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of the limited partners' ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate carrying amounts, as of the balance sheet date, of assets not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying amount of income producing properties held for rental. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Carrying value as of the balance sheet date, including the current and noncurrent portions, of collateralized debt obligations (with maturities initially due after one year or beyond the operating cycle, if longer). Such obligations include mortgage loans, chattel loans, and any other borrowings secured by assets of the borrower. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents money paid in advance to protect the provider of a product or service, such as a lessor, against damage or nonpayment by the buyer or tenant (lessee) during the term of the agreement. Such damages may include physical damage to the property, theft of property, and other contractual breaches. Security deposits held may be interest or noninterest bearing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
Consolidated Balance Sheets (Parenthetical) - $ / shares |
Dec. 31, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 490,000,000 | 490,000,000 |
| Common stock, shares outstanding | 45,407,719 | 43,701,669 |
| American Assets Trust, L.P. | ||
| Limited Partners' Capital Account, Units Issued | 17,899,516 | 17,905,257 |
| Limited Partners' Capital Account, Units Outstanding | 17,899,516 | 17,905,257 |
| General Partners' Capital Account, Units Issued | 45,407,719 | 43,701,669 |
| General Partners' Capital Account, Units Outstanding | 45,407,719 | 43,701,669 |
| Common Stock | ||
| Common stock, shares issued | 45,407,719 | 43,701,669 |
| X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of general partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of general partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of limited partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents the total of the costs related to real estate revenues, including management, leasing, and development services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Cash dividends declared or paid to each outstanding limited partnership and general partnership unit during the reporting period. No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Other real estate revenue not otherwise specified in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition A tax based on the assessed value of real estate by the local government. The tax is usually based on the value of property (including the land). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Consolidated Statements of Equity - USD ($) $ in Thousands |
Total |
American Assets Trust, L.P. |
Limited Partner
American Assets Trust, L.P.
|
[1] |
General Partner
American Assets Trust, L.P.
|
Accumulated Other Comprehensive Income (Loss)
American Assets Trust, L.P.
|
Swap |
Swap
American Assets Trust, L.P.
|
Swap
Accumulated Other Comprehensive Income (Loss)
American Assets Trust, L.P.
|
Forward Contracts |
Forward Contracts
American Assets Trust, L.P.
|
Forward Contracts
Accumulated Other Comprehensive Income (Loss)
American Assets Trust, L.P.
|
Common Stock |
Common Stock
American Assets Trust, L.P.
|
Additional Paid-in Capital |
Accumulated dividends in excess of net income |
Accumulated Other Comprehensive Income (Loss) |
Accumulated Other Comprehensive Income (Loss)
Swap
|
Accumulated Other Comprehensive Income (Loss)
Forward Contracts
|
Noncontrolling Interests - Unitholders in the Operating Partnership |
Noncontrolling Interests - Unitholders in the Operating Partnership
Swap
|
Noncontrolling Interests - Unitholders in the Operating Partnership
Forward Contracts
|
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Beginning balance (in shares) at Dec. 31, 2012 | 39,664,212.000 | |||||||||||||||||||||||||||
| Beginning balance at Dec. 31, 2012 | $ 685,729 | $ 397 | $ 663,589 | $ (25,625) | $ 0 | $ 47,368 | ||||||||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||
| Net income | 22,594 | $ 22,594 | $ 6,838 | $ 15,756 | [2] | 15,756 | 6,838 | |||||||||||||||||||||
| Common shares issued (in shares) | 741,452 | |||||||||||||||||||||||||||
| Common shares issued | 24,910 | $ 7 | 24,903 | |||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | 106,326 | 106,326 | ||||||||||||||||||||||||||
| Conversion of operating partnership units | 0 | $ 1 | 859 | (860) | ||||||||||||||||||||||||
| Issuance of restricted stock (in shares) | 5,004 | |||||||||||||||||||||||||||
| Issuance of restricted stock | 0 | $ 0 | ||||||||||||||||||||||||||
| Forfeiture of restricted stock (in shares) | (4,431) | |||||||||||||||||||||||||||
| Forfeiture of restricted stock | 0 | $ 0 | ||||||||||||||||||||||||||
| Dividends declared and paid | (49,500) | (34,221) | (15,279) | |||||||||||||||||||||||||
| Stock-based compensation | 2,845 | 2,845 | ||||||||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | 0 | $ 0 | $ 0 | $ 0 | ||||||||||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | 0 | 0 | ||||||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2013 | 40,512,563 | |||||||||||||||||||||||||||
| Ending balance at Dec. 31, 2013 | 686,578 | $ 405 | 692,196 | (44,090) | 0 | 38,067 | ||||||||||||||||||||||
| Beginning balance (in shares) at Dec. 31, 2012 | 18,023,435 | 39,664,212 | [2] | |||||||||||||||||||||||||
| Beginning balance at Dec. 31, 2012 | 685,729 | $ 47,368 | $ 638,361 | [2] | $ 0 | |||||||||||||||||||||||
| Increase (Decrease) in Partners' Capital [Roll Forward] | ||||||||||||||||||||||||||||
| Net income | 22,594 | 22,594 | $ 6,838 | $ 15,756 | [2] | 15,756 | 6,838 | |||||||||||||||||||||
| Contributions from American Assets Trust, Inc. (in shares) | [2] | 741,452 | ||||||||||||||||||||||||||
| Contributions from American Assets Trust, Inc. | 24,910 | $ 24,910 | [2] | |||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | (106,326) | 106,326 | [2] | |||||||||||||||||||||||||
| Conversion of operating partnership units | $ (860) | $ 860 | [2] | |||||||||||||||||||||||||
| Issuance of restricted units (in shares) | [2] | 5,004 | ||||||||||||||||||||||||||
| Forfeiture of restricted units (in shares) | [2] | (4,431) | ||||||||||||||||||||||||||
| Distributions | (49,500) | $ (15,279) | $ (34,221) | [2] | ||||||||||||||||||||||||
| Stock-based compensation | 2,845 | $ 2,845 | [2] | |||||||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2013 | 17,917,109 | 40,512,563 | [2] | |||||||||||||||||||||||||
| Ending balance at Dec. 31, 2013 | 686,578 | $ 38,067 | $ 648,511 | [2] | 0 | |||||||||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||
| Net income | 31,145 | 31,145 | 9,015 | $ 22,130 | [2] | 22,130 | 9,015 | |||||||||||||||||||||
| Common shares issued (in shares) | 3,110,067 | |||||||||||||||||||||||||||
| Common shares issued | 104,148 | $ 31 | 104,117 | |||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | 11,852 | 11,852 | ||||||||||||||||||||||||||
| Conversion of operating partnership units | 0 | (133) | 133 | |||||||||||||||||||||||||
| Issuance of restricted stock (in shares) | 216,748 | |||||||||||||||||||||||||||
| Issuance of restricted stock | 0 | $ 2 | (2) | |||||||||||||||||||||||||
| Forfeiture of restricted stock (in shares) | (1,192) | |||||||||||||||||||||||||||
| Forfeiture of restricted stock | 0 | $ 0 | ||||||||||||||||||||||||||
| Dividends declared and paid | (54,311) | (38,331) | (15,980) | |||||||||||||||||||||||||
| Stock-based compensation | 3,666 | 3,666 | ||||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (148,369) | [2] | (148,369) | |||||||||||||||||||||||||
| Shares withheld for employee taxes | (4,780) | (4,780) | $ (4,780) | [2] | $ (1) | (4,779) | ||||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | (1,448) | (1,448) | $ (1,448) | $ (1,448) | 1,617 | 1,617 | $ 1,617 | $ (1,024) | $ 1,144 | $ (424) | $ 473 | |||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | (39) | (39) | (28) | (11) | ||||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2014 | 43,701,669 | |||||||||||||||||||||||||||
| Ending balance at Dec. 31, 2014 | 766,576 | $ 437 | 795,065 | (60,291) | 92 | 31,273 | ||||||||||||||||||||||
| Increase (Decrease) in Partners' Capital [Roll Forward] | ||||||||||||||||||||||||||||
| Net income | 31,145 | 31,145 | $ 9,015 | $ 22,130 | [2] | 22,130 | 9,015 | |||||||||||||||||||||
| Contributions from American Assets Trust, Inc. (in shares) | [2] | 3,110,067 | ||||||||||||||||||||||||||
| Contributions from American Assets Trust, Inc. | 104,148 | $ 104,148 | [2] | |||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | (11,852) | 11,852 | [2] | |||||||||||||||||||||||||
| Conversion of operating partnership units | $ 133 | $ (133) | [2] | |||||||||||||||||||||||||
| Issuance of restricted units (in shares) | [2] | 216,748 | ||||||||||||||||||||||||||
| Forfeiture of restricted units (in shares) | [2] | (1,192) | ||||||||||||||||||||||||||
| Distributions | (54,311) | $ (15,980) | $ (38,331) | [2] | ||||||||||||||||||||||||
| Stock-based compensation | 3,666 | $ 3,666 | [2] | |||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (148,369) | [2] | (148,369) | |||||||||||||||||||||||||
| Shares withheld for employee taxes | (4,780) | (4,780) | $ (4,780) | [2] | $ (1) | (4,779) | ||||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | (1,448) | (1,448) | (1,448) | (1,448) | 1,617 | 1,617 | $ 1,617 | $ (1,024) | $ 1,144 | $ (424) | $ 473 | |||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | (39) | (39) | ||||||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2014 | 17,905,257 | 43,701,669 | [2] | |||||||||||||||||||||||||
| Ending balance at Dec. 31, 2014 | 766,576 | $ 31,235 | $ 735,211 | [2] | 130 | |||||||||||||||||||||||
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||||||||||
| Net income | 53,915 | 53,915 | 15,238 | $ 38,677 | [2] | 38,677 | 15,238 | |||||||||||||||||||||
| Common shares issued (in shares) | 1,812,451 | |||||||||||||||||||||||||||
| Common shares issued | 72,836 | $ 18 | 72,818 | |||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | 5,741 | 5,741 | ||||||||||||||||||||||||||
| Conversion of operating partnership units | 0 | 67 | (67) | |||||||||||||||||||||||||
| Issuance of restricted stock (in shares) | 98,354 | |||||||||||||||||||||||||||
| Issuance of restricted stock | 0 | $ 1 | (1) | |||||||||||||||||||||||||
| Forfeiture of restricted stock (in shares) | (40,687) | |||||||||||||||||||||||||||
| Forfeiture of restricted stock | 0 | |||||||||||||||||||||||||||
| Dividends declared and paid | (59,412) | (42,452) | (16,960) | |||||||||||||||||||||||||
| Stock-based compensation | 2,877 | 2,877 | ||||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (169,809) | [2] | (169,809) | |||||||||||||||||||||||||
| Shares withheld for employee taxes | (7,396) | (7,396) | $ (7,396) | [2] | $ (2) | (7,394) | ||||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | (238) | (238) | (238) | (238) | 0 | 0 | (184) | (54) | ||||||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | (231) | (231) | (231) | (166) | (65) | |||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2015 | 45,407,719 | |||||||||||||||||||||||||||
| Ending balance at Dec. 31, 2015 | 828,927 | $ 454 | 863,432 | (64,066) | (258) | 29,365 | ||||||||||||||||||||||
| Increase (Decrease) in Partners' Capital [Roll Forward] | ||||||||||||||||||||||||||||
| Net income | 53,915 | 53,915 | $ 15,238 | $ 38,677 | [2] | $ 38,677 | 15,238 | |||||||||||||||||||||
| Contributions from American Assets Trust, Inc. (in shares) | [2] | 1,812,451 | ||||||||||||||||||||||||||
| Contributions from American Assets Trust, Inc. | 72,836 | $ 72,836 | [2] | |||||||||||||||||||||||||
| Conversion of operating partnership units (in shares) | (5,741) | 5,741 | [2] | |||||||||||||||||||||||||
| Conversion of operating partnership units | $ (67) | $ 67 | [2] | |||||||||||||||||||||||||
| Issuance of restricted units (in shares) | [2] | 98,354 | ||||||||||||||||||||||||||
| Forfeiture of restricted units (in shares) | [2] | (40,687) | ||||||||||||||||||||||||||
| Distributions | (59,412) | $ (16,960) | $ (42,452) | [2] | ||||||||||||||||||||||||
| Stock-based compensation | 2,877 | $ 2,877 | [2] | |||||||||||||||||||||||||
| Shares withheld for employee taxes (in shares) | (169,809) | [2] | (169,809) | |||||||||||||||||||||||||
| Shares withheld for employee taxes | $ (7,396) | (7,396) | $ (7,396) | [2] | $ (2) | $ (7,394) | ||||||||||||||||||||||
| Other comprehensive income (loss) unrealized gain (loss) on derivatives | (238) | $ (238) | $ (238) | $ (238) | $ 0 | $ 0 | $ (184) | $ (54) | ||||||||||||||||||||
| Reclassification of amortization of forward starting swap included in interest expense | (231) | |||||||||||||||||||||||||||
| Ending balance (in shares) at Dec. 31, 2015 | 17,899,516 | 45,407,719 | [2] | |||||||||||||||||||||||||
| Ending balance at Dec. 31, 2015 | $ 828,927 | $ 29,446 | $ 799,820 | [2] | $ (339) | |||||||||||||||||||||||
| ||||||||||||||||||||||||||||
| X | ||||||||||
- Definition Partners' Capital Account, Restricted Units Forfeiture No definition available.
|
| X | ||||||||||
- Definition Partners' Capital Account, Restricted Units Issued No definition available.
|
| X | ||||||||||
- Definition The amount of adjustment to stockholders' equity associated with an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. No definition available.
|
| X | ||||||||||
- Definition This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition Amount after tax of reclassification adjustment from accumulated other comprehensive income of accumulated gain (loss) realized from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total distributions to each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total change in each class of partners' capital accounts during the year due to exchanges and conversions. Partners include general, limited and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total change in each class of partners' capital accounts during the year due to unit-based compensation. All partners include general, limited and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The number of each class of partnership units outstanding at the balance sheet date. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Units contributed by each class of partners during the year. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of units converted into shares of each class of partners' capital account. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of shares issued which are neither cancelled nor held in the treasury. No definition available.
|
| X | ||||||||||
- Definition For net-share settlement of share-based awards when the employer settles employees' income tax withholding obligations, this element represents the number of shares the employees use to repay the employer. No definition available.
|
| X | ||||||||||
- Definition The number of shares issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of shares related to Restricted Stock Award forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Total number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Value of stock issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Value of stock related to Restricted Stock Awards forfeited during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate value of stock related to Restricted Stock Awards issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Consolidated Statements of Cash Flows - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| OPERATING ACTIVITIES | |||
| Net income | $ 53,915 | $ 31,145 | $ 22,594 |
| Adjustments to reconcile income from continuing operations to net cash provided by operating activities: | |||
| Deferred rent revenue and amortization of lease intangibles | (5,587) | (4,623) | (4,997) |
| Depreciation and amortization | 63,392 | 66,568 | 66,775 |
| Amortization of debt issuance costs and debt fair value adjustments | 4,214 | 4,075 | 3,932 |
| Gain on sale of real estate | (7,121) | 0 | 0 |
| Stock-based compensation expense | 2,877 | 3,666 | 2,845 |
| Settlement of forward interest rate swap agreement | 0 | 1,617 | 0 |
| Other noncash interest expense | (231) | (39) | 0 |
| Other, net | 878 | (95) | 848 |
| Changes in operating assets and liabilities | |||
| Change in restricted cash | 265 | 1,198 | (755) |
| Change in accounts receivable | (1,011) | 279 | (45) |
| Change in other assets | (243) | (107) | (88) |
| Change in accounts payable and accrued expenses | (1,081) | 1,381 | 1,167 |
| Change in security deposits payable | 493 | 358 | 307 |
| Change in other liabilities and deferred credits | (36) | 188 | 151 |
| Net cash provided by operating activities | 110,724 | 105,611 | 92,734 |
| INVESTING ACTIVITIES | |||
| Capital expenditures | (134,174) | (144,674) | (55,675) |
| Proceeds from sale of real estate, net of selling costs | 12,259 | 0 | 0 |
| Change in restricted cash, reserves for capital improvements | (893) | (3,068) | 453 |
| Leasing commissions | (4,461) | (5,098) | (3,032) |
| Net cash used in investing activities | (127,269) | (152,840) | (58,254) |
| FINANCING ACTIVITIES | |||
| Change in restricted cash | 0 | 0 | (1,400) |
| Repayment of secured notes payable | (235,980) | (142,276) | (95,420) |
| Proceeds from term loan | 0 | 100,000 | 0 |
| Proceeds from unsecured line of credit | 65,000 | 0 | 93,000 |
| Repayment of unsecured line of credit | 35,000 | 93,000 | 0 |
| Proceeds from issuance of unsecured notes payable | 200,000 | 150,000 | 0 |
| Debt issuance costs | (2,881) | (2,141) | 0 |
| Proceeds from issuance of common stock, net | 72,782 | 104,107 | 25,348 |
| Dividends and distributions | (59,412) | (54,311) | (49,500) |
| Shares withheld for employee taxes | (7,396) | (4,780) | 0 |
| Net cash provided by (used in) financing activities | (2,887) | 57,599 | (27,972) |
| Net (decrease) increase in cash and cash equivalents | (19,432) | 10,370 | 6,508 |
| Cash and cash equivalents, beginning of period | 59,357 | 48,987 | 42,479 |
| Cash and cash equivalents, end of period | 39,925 | 59,357 | 48,987 |
| American Assets Trust, L.P. | |||
| OPERATING ACTIVITIES | |||
| Net income | 53,915 | 31,145 | 22,594 |
| Adjustments to reconcile income from continuing operations to net cash provided by operating activities: | |||
| Deferred rent revenue and amortization of lease intangibles | (5,587) | (4,623) | (4,997) |
| Depreciation and amortization | 63,392 | 66,568 | 66,775 |
| Amortization of debt issuance costs and debt fair value adjustments | 4,214 | 4,075 | 3,932 |
| Gain on sale of real estate | (7,121) | 0 | 0 |
| Stock-based compensation expense | 2,877 | 3,666 | 2,845 |
| Settlement of forward interest rate swap agreement | 0 | 1,617 | 0 |
| Other noncash interest expense | (231) | (39) | 0 |
| Other, net | 878 | (95) | 848 |
| Changes in operating assets and liabilities | |||
| Change in restricted cash | 265 | 1,198 | (755) |
| Change in accounts receivable | (1,011) | 279 | (45) |
| Change in other assets | (243) | (107) | (88) |
| Change in accounts payable and accrued expenses | (1,081) | 1,381 | 1,167 |
| Change in security deposits payable | 493 | 358 | 307 |
| Change in other liabilities and deferred credits | (36) | 188 | 151 |
| Net cash provided by operating activities | 110,724 | 105,611 | 92,734 |
| INVESTING ACTIVITIES | |||
| Capital expenditures | (134,174) | (144,674) | (55,675) |
| Proceeds from sale of real estate, net of selling costs | 12,259 | 0 | 0 |
| Change in restricted cash, reserves for capital improvements | (893) | (3,068) | 453 |
| Leasing commissions | (4,461) | (5,098) | (3,032) |
| Net cash used in investing activities | (127,269) | (152,840) | (58,254) |
| FINANCING ACTIVITIES | |||
| Change in restricted cash | 0 | 0 | (1,400) |
| Repayment of secured notes payable | (235,980) | (142,276) | (95,420) |
| Proceeds from term loan | 0 | 100,000 | 0 |
| Proceeds from unsecured line of credit | 65,000 | 0 | 93,000 |
| Repayment of unsecured line of credit | 35,000 | 93,000 | 0 |
| Proceeds from issuance of unsecured notes payable | 200,000 | 150,000 | 0 |
| Debt issuance costs | (2,881) | (2,141) | 0 |
| Contributions from American Assets Trust, Inc. | 72,782 | 104,107 | 25,348 |
| Dividends and distributions | (59,412) | (54,311) | (49,500) |
| Shares withheld for employee taxes | (7,396) | (4,780) | 0 |
| Net cash provided by (used in) financing activities | (2,887) | 57,599 | (27,972) |
| Net (decrease) increase in cash and cash equivalents | (19,432) | 10,370 | 6,508 |
| Cash and cash equivalents, beginning of period | 59,357 | 48,987 | 42,479 |
| Cash and cash equivalents, end of period | $ 39,925 | $ 59,357 | $ 48,987 |
| X | ||||||||||
- Definition The component of interest expense representing the noncash expenses charged against earnings in the period to amortize debt issuance costs and debt fair value adjustments. No definition available.
|
| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amount due that is the result of the cumulative difference between actual rent due and rental income recognized on a straight-line basis. Also includes the amortization of lease intangibles. No definition available.
|
| X | ||||||||||
- Definition Gain (loss) on settlement of forward swap contract included in accumulated other comprehensive income to be amortized as interest expense over the life of related debt instrument. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The increase (decrease) during the reporting period in the amount of (a) prepayments by customers for goods or services to be provided at a later date, (b) the amount of customer money held in customer accounts, including security deposits, collateral for a current or future transactions, initial payment of the cost of acquisition or for the right to enter into a contract or agreement, or (c) a combination of (a) and (b). No definition available.
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- Definition The increase (decrease) in the balance of capitalized lease acquisition costs during the period. The cost usually covers a variety of administrative costs, such as the cost of obtaining a credit report, verifying insurance coverage, lease commission charges, checking the accuracy and completeness of the lease documentation, and entering the lease in data processing and accounting systems. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The increase (decrease) during the reporting period in other obligations not otherwise defined in the taxonomy where the payments will be made in future periods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as operating activities. This may include cash restricted for regulatory purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow for acquisition of or capital improvements to properties held for investment (operating, managed, leased) or for use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Cash outflow in the form of capital distributions and dividends to common shareholders, preferred shareholders and noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from the additional capital contribution to the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from a borrowing with the highest claim on the assets of the entity in case of bankruptcy or liquidation (with maturities initially due after one year or beyond the operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from the issuance of long-term debt that is not secured by collateral. Excludes proceeds from tax exempt unsecured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from the capital received in cash from a partner in a partnership during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net cash inflow or outflow from cash and cash items that are not available for withdrawal or usage. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Cash received from the sale of real estate that is held for investment, that is, it is part of an investing activity during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is uncollateralized (where debt is not backed by the pledge of collateral). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of cash outflow for payment of an obligation from a lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Summary of Significant Accounting Policies (Notes) |
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| Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Business and Organization American Assets Trust, Inc. (which may be referred to in these financial statements as the “company,” “we,” “us,” or “our”) is a Maryland corporation formed on July 16, 2010 that did not have any operating activity until the consummation of our initial public offering (the “Offering”) and the related acquisition on January 19, 2011 of certain assets of a combination of entities whose assets included entities owned and/or controlled by Ernest S. Rady and his affiliates, including the Rady Trust, which in turn owned (1) controlling interests in entities owning 17 properties and the property management business of American Assets, Inc. and (2) noncontrolling interests in entities owning four properties. The company is the sole general partner of American Assets Trust, L.P., a Maryland limited partnership formed on July 16, 2010 (the “Operating Partnership”). The company's operations are carried on through our Operating Partnership and its subsidiaries, including our taxable REIT subsidiary. Since the formation of our Operating Partnership, the company has controlled our Operating Partnership as its general partner and has consolidated its assets, liabilities and results of operations. We are a vertically integrated and self-administered REIT with 131 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; or references to beneficial ownership interests, are unaudited and outside the scope of our independent registered public accounting firm's audit of our financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. As of December 31, 2015, 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, 2015, 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:
Basis of Presentation Our consolidated financial statements include the accounts of the company, our Operating Partnership and our subsidiaries. The equity interests of other investors in our Operating Partnership are reflected as noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” requires management to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management's best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates. Consolidated Statements of Cash Flows-Supplemental Disclosures The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):
Revenue Recognition and Accounts Receivable Our leases with tenants are classified as operating leases. Substantially all such leases contain fixed rent escalations which occur at specified times during the term of the lease. Base rents are recognized on a straight-line basis from when the tenant controls the space through the term of the related lease, net of valuation adjustments, based on management's assessment of credit, collection and other business risks. When we determine that we are the owner of tenant improvements and the tenant has reimbursed us for a portion or all of the tenant improvement costs, we consider the amount paid to be additional rent, which is recognized on a straight-line basis over the term of the related lease. For first generation tenants, in instances in which we fund tenant improvements and the improvements are deemed to be owned by us, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When we determine that the tenant is the owner of tenant improvements, tenant allowances are recorded as lease incentives and we commence revenue recognition and lease incentive amortization when possession or control of the space is turned over to the tenant for tenant work to begin. Percentage rents, which represent additional rents based upon the level of sales achieved by certain tenants, are recognized at the end of the lease year or earlier if we have determined the required sales level is achieved and the percentage rents are collectible. Real estate tax and other cost reimbursements are recognized on an accrual basis over the periods in which the related expenditures are incurred. Other property income includes parking income, general excise tax billed to tenants and fees charged to tenants at our multifamily properties. Other property income is recognized when 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 $3.7 million, $3.4 million and $3.5 million for the years ended December 31, 2015, 2014 and 2013, 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, 2015 and December 31, 2014, our allowance for doubtful accounts was $0.5 million and $0.8 million, respectively, and our allowance for deferred rent receivables was $1.3 million and $1.2 million, respectively. Total bad debt expense was $0.4 million, $0.2 million and $0.1 million for the years ended December 31, 2015, 2014 and 2013, 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. 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, 2015, 2014 and 2013, real estate depreciation expense was $54.2 million, $56.0 million and $52.0 million, respectively. Acquisitions of properties are accounted for in accordance with the authoritative accounting guidance on acquisitions and business combinations. Our methodology of allocating the cost of acquisitions to assets acquired and liabilities assumed is based on estimated fair values, replacement cost and appraised values. When we acquire operating real estate properties, the purchase price is allocated to land and buildings, intangibles such as in-place leases, and to current assets and liabilities acquired, if any. Such valuations include a consideration of the noncancelable terms of the respective leases as well as any applicable renewal periods. The fair values associated with below market renewal options are determined based on a review of several qualitative and quantitative factors on a lease-by-lease basis at acquisition to determine whether it is probable that the tenant would exercise its option to renew the lease agreement. These factors include: (1) the type of tenant in relation to the property it occupies, (2) the quality of the tenant, including the tenant's long term business prospects and (3) whether the fixed rate renewal option was sufficiently lower than the fair rental of the property at the date the option becomes exercisable such that it would appear to be reasonably assured that the tenant would exercise the option to renew. The value allocated to in-place leases is amortized over the related lease term and reflected as depreciation and amortization in the statement of income. The value of above and below market leases associated with the original noncancelable lease terms are amortized to rental income over the terms of the respective noncancelable lease periods and are reflected as either an increase (for below market leases) or a decrease (for above market leases) to rental income in the statement of income. The value of the leases associated with below market lease renewal options that are likely to be exercised are amortized to rental income over the respective renewal periods. If a tenant vacates its space prior to contractual termination of its lease or the lease is not renewed, the unamortized balance of any in-place lease value is written off to rental income and amortization expense. 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. Financial Instruments The estimated fair values of financial instruments are determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop estimated fair values. The use of different market assumptions or estimation methods may have a material effect on the estimated fair value amounts. Accordingly, estimated fair values are not necessarily indicative of the amounts that could be realized in current market exchanges. Derivative Instruments At times, we may use derivative instruments to manage exposure to variable interest rate risk. We may enter into interest rate swaps to manage our exposure to variable interest rate risk. If and when we enter into derivative instruments, we ensure that such instruments qualify as cash flow hedges and would not enter into derivative instruments for speculative purposes. Any interest rate swaps associated with our cash flow hedges are recorded at fair value on a recurring basis. We assess effectiveness of our cash flow hedges both at inception and on an ongoing basis. The effective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into interest expense as interest is incurred on the related variable rate debt. Our cash flow hedges become ineffective if critical terms of the hedging instrument and the debt instrument do not perfectly match such as notional amounts, settlement dates, reset dates, calculation period and LIBOR rate. In addition, we evaluate the default risk of the counterparty by monitoring the credit worthiness of the counterparty. When ineffectiveness exists, the ineffective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recognized in earnings in the period affected. We had no hedging instruments outstanding during 2013. 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 8). 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, 2015 and December 31, 2014, we had $32.8 million and $32.4 million, respectively, in excess of the FDIC insured limit. At December 31, 2015 and December 31, 2014, we had $0.1 million and $20.0 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, 2015 and 2014, we had $11.6 million and $11.0 million, respectively, in restricted cash. 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, 2015, 2014 and 2013 there were no early extinguishments of debt or write offs of debt issuance costs. Variable Interest Entities Certain entities that do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties or in which equity investors do not have the characteristics of a controlling financial interest qualify as variable interest entities (“VIEs”). VIEs are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE is the party that has a controlling interest in the VIE. Identifying the party with the controlling interest requires a focus on which entity has the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (1) the obligation to absorb the expected losses of the VIE or (2) the right to receive the benefits from the VIE. At December 31, 2014 and December 31, 2015 we had no investments in real estate joint ventures, and accordingly we had no VIEs which needed to be consolidated. Stock-Based Compensation We grant stock-based compensation awards to our employees and directors typically in the form of restricted shares of common stock, options to purchase common stock and/or shares of common stock. We measure stock-based compensation expense based on the fair value of the award on the grant date and recognize the expense ratably over the vesting period. 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. Recent Accounting Pronouncements In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU 2014-08 revises the definition of a discontinued operation to a disposal, sale or held-for-sale component or group of components that represents a strategic shift that will have a major effect on an entity's operations and financial results. This pronouncement is effective in 2015, however, calendar year-end companies may early adopt during the first quarter of 2014. We have chosen to early adopt this pronouncement and it became effective for us in the first quarter of 2014. The adoption of this pronouncement resulted in the gain on sale of real estate of $7.1 million for the year ended December 31, 2015 included in continuing operations as opposed to discontinued operations under the previous standard. In May 2014, the FASB issued Update No. 2014-09, Revenue from Contracts with Customers. Update No. 2014-09 establishes that companies may recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This pronouncement is effective for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period; early adoption is not permitted. We are in the process of evaluating the impact this pronouncement will have on our consolidated financial statements. In February 2015, the FASB issued an ASU that requires reporting entities to evaluate whether they should consolidate certain legal entities. The ASU modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities and eliminates the presumption that a general partner should consolidate a limited partnership. This affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. The ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply the amendments in the ASU using: (i) a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption; or (ii) by applying the amendments retrospectively. We do not expect the adoption of this pronouncement to have a significant impact on our consolidated financial statements. In April 2015, the FASB issued an ASU that requires reporting entities to present debt issuance cost related to a note as a direct deduction from the face amount of that note presented in the balance sheet. The ASU requires the amortization of debt issuance costs presented as interest expense. The ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply the amendments in the ASU retrospectively to all prior periods. We do not expect the adoption of this pronouncement to have a significant impact on our consolidated financial statements. |
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Real Estate (Notes) |
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| Real Estate [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| REAL ESTATE | REAL ESTATE A summary of our real estate investments is as follows (in thousands):
(1) Land related to held for development and construction in progress is included in the Held for Development and Construction in Progress classifications on the consolidated balance sheets. Dispositions On August 6, 2015, we sold Rancho Carmel Plaza. The property is located in San Diego, California and was previously included in our retail segment. The sales price of this property of approximately $12.7 million, less costs to sell, resulted in net proceeds to us of approximately $12.3 million. Accordingly, we recorded a gain on sale of approximately $7.1 million for the year ended December 31, 2015. |
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- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquired In-Place Leases and Above/Below Market Leases (Notes) |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES | ACQUIRED IN-PLACE LEASES AND ABOVE/BELOW MARKET LEASES The following summarizes our acquired lease intangibles, which are included in other assets and other liabilities and deferred credits (in thousands):
The value allocated to in-place leases is amortized over the related lease term as depreciation and amortization expense in the statement of income. Above and below market leases are amortized over the related lease term as additional rental income for below market leases or a reduction of rental income for above market leases in the statement of income. Rental income (loss) includes net amortization from acquired above and below market leases of $2.9 million, $2.8 million and $2.4 million in 2015, 2014 and 2013, respectively. The remaining weighted-average amortization period as of December 31, 2015, is 2.0 years, 0.7 years and 7.8 years for in-place leases, above market leases and below market leases, respectively. Below market leases include $17.5 million related to below market renewal options, and the weighted-average period prior to the commencement of the renewal options is 9.8 years. Increases (decreases) in net income as a result of amortization of our in-place leases, above market leases and below market leases are as follows (in thousands):
As of December 31, 2015, the amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows (in thousands):
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- Definition The entire disclosure for all or part of the information related to intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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Fair Value of Financial Instruments (Notes) |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| FAIR VALUE OF FINANCIAL INSTRUMENTS | FAIR VALUE OF FINANCIAL INSTRUMENTS A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability. The hierarchy for inputs used in measuring fair value is as follows:
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Except as disclosed below, the carrying amount of our financial instruments approximates their fair value. Financial assets and liabilities whose fair values we measure on a recurring basis using Level 2 inputs consist of our deferred compensation liability and interest rate swap liability. We measure the fair values of these liabilities based on prices provided by independent market participants that are based on observable inputs using market-based valuation techniques provided by third parties using proprietary valuation models and analytical tools as of December 31, 2015 and 2014. These valuation models and analytical tools use market pricing or similar instruments that are both objective and publicly available, including matrix pricing or reported trades, benchmark yields, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids and/or offers. A summary of our financial liabilities that are measured at fair value on a recurring basis by level within the fair value hierarchy is as follows (in thousands):
The fair value of our secured notes payable and unsecured notes payable is sensitive to fluctuations in interest rates. Discounted cash flow analysis (Level 2) is generally used to estimate the fair value of our mortgages and notes payable, using rates ranging from 3.5% to 6.4%. Considerable judgment is necessary to estimate the fair value of financial instruments. The estimates of fair value presented herein are not necessarily indicative of the amounts that could be realized upon disposition of the financial instruments. The carrying values of our line of credit and term loan set forth below are deemed to be at fair value since the outstanding debt is directly tied to monthly LIBOR contracts. A summary of the carrying amount and fair value of our financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands):
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- References No definition available.
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Other Assets (Notes) |
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| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER ASSETS | OTHER ASSETS Other assets consist of the following (in thousands):
Lease incentives are amortized over the term of the related lease and included as a reduction of rental income in the statement of income. |
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- References No definition available.
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- Definition The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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Other Liabilities and Deferred Credits (Notes) |
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| Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER LIABILITIES AND DEFERRED CREDITS | OTHER LIABILITIES AND DEFERRED CREDITS Other liabilities and deferred credits consist of the following (in thousands):
Straight-line rent liability relates to leases which have rental payments that decrease over time or one-time upfront payments for which the rental revenue is deferred and recognized on a straight-line basis. |
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- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for other liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt (Notes) |
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| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| DEBT | DEBT Debt of American Assets Trust, Inc. American Assets Trust, Inc. does not hold any indebtedness. All debt is held directly or indirectly by the Operating Partnership; however, American Assets Trust, Inc. has guaranteed the Operating Partnership's amended and restated credit facility, term loan and carve-out guarantees on property-level debt. Debt of American Assets Trust, L.P. Secured notes payable The following is a summary of the Operating Partnership's total secured notes payable outstanding as of December 31, 2015 and December 31, 2014 (in thousands):
Unsecured notes payable The following is a summary of the Operating Partnership's total unsecured notes payable outstanding as of December 31, 2015 and December 31, 2014 (in thousands):
On October 31, 2014, the Operating Partnership entered into a note purchase agreement (the "Note Purchase Agreement") with a group of institutional purchasers that provided for the private placement of an aggregate of $350 million of senior guaranteed notes, of which (i) $150 million are designated as 4.04% Senior Guaranteed Notes, Series A, due October 31, 2021 (the “Series A Notes”), (ii) $100 million are designated as 4.45% Senior Guaranteed Notes, Series B, due February 2, 2025 (the “Series B Notes”) and (iii) $100 million are designated as 4.50% Senior Guaranteed Notes, Series C, due April 1, 2025 (the “Series C Notes”, and collectively with the Series A Notes and Series B Notes, are referred to herein as, the “Notes”). The Series A Notes were issued on October 31, 2014, the Series B Notes were issued on February 2, 2015 and the Series C Notes were issued on April 2, 2015. The Notes will pay interest quarterly on the last day of January, April, July and October until their respective maturities. The Operating Partnership may prepay at any time all, or from time to time any part of, the Notes, in an amount not less than 5% of the aggregate principal amount of any series of the Notes then outstanding in the case of a partial prepayment, at 100% of the principal amount so prepaid plus a Make-Whole Amount (as defined in the Note Purchase Agreement). The Note Purchase Agreement contains a number of customary financial covenants, including, without limitation, tangible net worth thresholds, secured and unsecured leverage ratios and fixed charge coverage ratios. Subject to the terms of the Note Purchase Agreement and the Notes, upon certain events of default, including, but not limited to, (i) a default in the payment of any principal, Make-Whole Amount or interest under the Notes, and (ii) a default in the payment of certain other indebtedness by us or our subsidiaries, the principal, accrued and unpaid interest, and the Make-Whole Amount on the outstanding Notes will become due and payable at the option of the purchasers. The Operating Partnership's obligations under the Notes are fully and unconditionally guaranteed by the Operating Partnership and certain of the Operating Partnership's subsidiaries. Certain loans require the Operating Partnership to comply with various financial covenants, including the maintenance of minimum debt coverage ratios. As of December 31, 2015, the Operating Partnership was in compliance with all loan covenants. Scheduled principal payments on secured and unsecured notes payable as of December 31, 2015 are as follows (in thousands):
Credit Facility On January 19, 2011, the company and the Operating Partnership 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. The credit facility also had an accordion feature that allowed the Operating Partnership 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. 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 the company or the 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. On January 9, 2014, the company and the Operating Partnership 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 (the "Revolver Loan") and a term loan of $100 million (the "Term Loan"). The amended and restated credit facility has an accordion feature that may allow the Operating Partnership to increase the availability thereunder up to an additional $250 million, subject to meeting specified requirements and obtaining additional commitments from lenders. At December 31, 2015, $30 million was outstanding under the Revolver Loan. On October 16, 2014, we entered into a first amendment to the amended and restated credit agreement that amends provisions of the amended and restated credit agreement to, among other things, (1) describe the treatment of our pari passu obligations under the amended and restated credit agreement and (2) remove the material acquisition provisions previously set forth in the amended and restated credit agreement. 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 American Assets Trust, Inc. obtains an investment-grade debt rating, under the terms set forth in the amended and restated credit facility, the spreads will further improve. For the year-ended December 31, 2015, the weighted average interest rate on the Revolver Loan was 1.54%. The Revolver Loan initially matures on January 9, 2018, subject to the Operating Partnership's 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. Effective as of January 8, 2016, the Operating Partnership exercised the first of three options to extend the maturity date of the Term Loan to January 9, 2017. Concurrent with the closing of the amended and restated credit facility, the Operating Partnership drew down on the entirety of the $100 million Term Loan remains outstanding and is included in unsecured notes payable as discussed above. Additionally, the amended and restated credit facility includes a number of financial covenants, including:
The amended and restated credit facility provides that American Assets Trust, Inc.'s annual distributions may not exceed the greater of (1) 95% of our funds from operations (“FFO”) or (2) the amount required for us to (a) qualify and maintain our REIT status and (b) avoid the payment of federal or state income or excise tax. If certain events of default exist or would result from a distribution, we may be precluded from making distributions other than those necessary to qualify and maintain our status as a REIT. American Assets Trust, Inc. and certain of its subsidiaries guaranteed the obligations under the amended and restated credit facility, and certain of its subsidiaries pledged specified equity interests in our subsidiaries as collateral for our obligations under the amended and restated credit facility. As of December 31, 2015, the Operating Partnership was in compliance with all then in-place amended and restated credit facility covenants. |
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative and Hedging (Notes) |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||
| DERIVATIVE AND HEDGING ACTIVITIES | DERIVATIVE AND HEDGING ACTIVITIES Our objectives in using interest rate derivatives are to add stability to interest expense and to manage exposure to interest rate movement. To accomplish these objectives, we use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Concurrent with the closing of our amended and restated credit facility, we entered into an interest rate swap agreement that is intended to fix the interest rate associated with our term loan of $100 million at approximately 3.08% through its maturity date and extension options, subject to adjustments based on our consolidated leverage ratio. The following is a summary of the terms of the interest rate swap as of December 31, 2015 (dollars in thousands):
The effective portion of changes in the fair value of the derivatives that are designated as cash flow hedges are being recorded as accumulated other comprehensive income and will be subsequently reclassified into earnings during the period in which the hedged forecasted transaction affects earnings. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of the derivative. This analysis reflects the contractual terms of the derivative, including the period to maturity, and uses observable market-based inputs, including interest rate curves, and implied volatilities. The fair value of the interest rate swaps is determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Forward Starting Swap On August 19, 2014, we entered into a one-month forward-starting seven-year swap contract with Wells Fargo Bank, N.A. to reduce the interest rate variability exposure of the projected interest cash flows of our then-prospective Series A Notes. The forward-starting seven-year swap contract had a notional amount of $150 million, a termination date of October 31, 2014, a fixed pay rate of 2.1305%, a receive rate equal to the one-month LIBOR, with fixed rate payments due quarterly on the last day of each January, April, July and October commencing January 30, 2015, floating payments due quarterly on the last day of each January, April, July and October commencing January 30, 2015, and floating reset dates two days prior to the first day of each calculation period. The forward-starting seven-year swap contract's accrual period, October 31, 2014 to October 31, 2021, was designed to match the expected tenor of the Series A Notes. The forward-starting seven-year swap contract was deemed to be a highly effective cash flow hedge and we elected to designate the forward-starting swap contract as an accounting hedge. We settled the forward-starting seven-year swap contract on September 19, 2014, resulting in a gain of approximately $1.6 million. This gain is included in accumulated other comprehensive income and will be amortized to interest expense over the life of the Series A Notes. |
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Partners Capital of American Assets Trust, L.P. (Notes) |
12 Months Ended |
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Dec. 31, 2015 | |
| Equity [Abstract] | |
| PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P. | PARTNERS' CAPITAL OF AMERICAN ASSETS TRUST, L.P. As of December 31, 2015, the Operating Partnership had 17,899,516 common units (the “Noncontrolling Common Units”) outstanding. American Assets Trust, Inc. owned 71.7% of the Operating Partnership at December 31, 2015. The remaining 28.3% of the partnership interests are owned by non-affiliated investors and certain of our directors and executive officers. Common units and shares of the company's common stock have essentially the same economic characteristics in that common units and shares of the company's common stock share equally in the total net income or loss distributions of the Operating Partnership. American Assets Trust, Inc. is the Operating Partnership’s general partner and is responsible for the management of the Operating Partnership’s business. As the general partner of the Operating Partnership, the company effectively controls the ability to issue common stock of American Assets Trust, Inc. upon a limited partner’s notice of redemption. Investors who own common units have the right to cause the Operating Partnership to redeem any or all of their common units for cash equal to the then-current market value of one share of the company's common stock, or, at the company's election, shares of the company's common stock on a one-for-one basis. In addition, American Assets Trust, Inc. has generally acquired common units upon a limited partner’s notice of redemption in exchange for shares of the company's common stock. The redemption provisions of common units owned by limited partners that permit the Operating Partnership to settle in either cash or common stock at the option of the company are further evaluated in accordance with applicable accounting guidance to determine whether temporary or permanent equity classification on the balance sheet is appropriate. The Operating Partnership evaluated this guidance, including the requirement to settle in unregistered shares, and determined that these common units meet the requirements to qualify for presentation as permanent equity. During the years ended December 31, 2015, 2014 and 2013, approximately 5,741, 11,852 and 106,326, respectively, common units were converted into shares of the company's common stock. |
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- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Equity of American Assets Trust, Inc. (Notes) |
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| EQUITY OF AMERICAN ASSETS TRUST, INC. | EQUITY OF AMERICAN ASSETS TRUST, INC. Stockholders' Equity On May 6, 2013, we entered into an at-the-market (“ATM”) equity program with four sales agents pursuant to which we may, from time to time, offer and sell shares of our common stock having an aggregate offering price of up to $150.0 million. We completed $150.0 million of issuances under such ATM program on May 21, 2015. On May 27, 2015, we entered into a new ATM equity program with five sales agents under which we may, from time to time, offer and sell shares of our common stock having an aggregate offering price of up to $250.0 million. The sales of shares of our common stock made through the ATM equity program are made in "at-the-market" offerings as defined in Rule 415 of the Securities Act of 1933, as amended ("the Securities Act"). For the year ended December 31, 2015, we issued 1,612,451 shares of common stock through the ATM equity program at a weighted average price per share of $40.77 for gross proceeds of $65.7 million and paid $0.7 million in sales agent compensation and $0.4 million in additional offering expenses related to the sales of these shares of common stock. As of December 31, 2015, we had the capacity to issue up to an additional $216.6 million in shares of our common stock under our active ATM equity program. Actual future sales will depend on a variety of factors including, but not limited to, market conditions, the trading price of our common stock and our capital needs. We have no obligation to sell the remaining shares available for sale under the active ATM equity program. On March 9, 2015, we entered into a common stock purchase agreement (the “Purchase Agreement”) with Explorer Insurance Company, a California corporation ("EIC"), an entity owned and controlled by Ernest Rady, our Chairman, President and Chief Executive Officer. The Purchase Agreement provided for the sale by us to EIC, in a private placement, of 200,000 shares of our common stock at a purchase price of $40.54 per share, resulting in gross proceeds to us of approximately $8.1 million. The price per share paid by EIC was equal to the closing price of a share of our common stock on the New York Stock Exchange on the date of the Purchase Agreement. These shares were registered on March 27, 2015 by virtue of our filing of a prospectus supplement to our universal shelf registration statement on Form S-3 filed on February 6, 2015. On September 12, 2014, we entered into a common stock purchase agreement (the “Purchase Agreement”) with Insurance Company of the West, a California corporation ("ICW") which is an insurance company owned and controlled by Ernest Rady. The Purchase Agreement provided for the sale by the company to ICW, in a private placement, of 400,000 shares of the company's common stock at a purchase price of $33.76 per share, resulting in gross proceeds to the company of approximately $13.5 million. The price per share paid by ICW was equal to the closing price of a share of the company's common stock on the New York Stock Exchange on the date of the Purchase Agreement. These shares were registered in connection with the filing of our universal shelf registration statement on Form S-3 ASR on February 6, 2015. Preferred Stock Authorized Shares We have been authorized to issue 10,000,000 shares of preferred stock with a par value of $0.01, of which no shares were outstanding at December 31, 2015. 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, 2015, 2014 and 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:
Stock-Based Compensation The company has established the 2011 Equity Incentive Award Plan (the "2011 Plan"), which provides for grants to directors, employees and consultants of the company and the Operating Partnership of stock options, restricted stock, dividend equivalents, stock payments, performance shares, LTIP units, stock appreciation rights and other incentive awards. An aggregate of 4,054,411 shares of our common stock are authorized for issuance under awards granted pursuant to the 2011 Plan, and as of December 31, 2015, 3,093,627 shares of common stock remain available for future issuance. The following shares of restricted common stock have been issued as of December 31, 2015:
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, 2015:
We recognize noncash compensation expense ratably over the vesting period, and accordingly, we recognized $2.9 million, $3.7 million and $2.8 million in noncash compensation expense for the years ended December 31, 2015, 2014 and 2013, each of which is included in general and administrative expense on the statement of income. Unrecognized compensation expense was $2.8 million at December 31, 2015, which will be recognized over a weighted-average period of 1.6 years. Earnings Per Share We have calculated earnings per share (“EPS”) under the two-class method. The two-class method is an earnings allocation methodology whereby EPS for each class of common stock and participating security is calculated according to dividends declared and participation rights in undistributed earnings. For the years ended December 31, 2015, 2014 and 2013, we had a weighted average of approximately 184,545 shares, 430,584 shares and 630,130 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, 2015, diluted shares exclude incentive restricted stock as these awards are considered contingently issuable. Additionally, the unvested restricted stock awards subject to time vesting are anti-dilutive for all periods presented and accordingly, have been excluded from the weighted average common shares used to compute diluted EPS. Earnings Per Unit of the Operating Partnership Basic earnings (loss) per unit (“EPU”) of the Operating Partnership is computed by dividing income (loss) applicable to unitholders by the weighted average Operating Partnership units outstanding, as adjusted for the effect of participating securities. Operating Partnership units granted in equity-based payment transactions are considered participating securities prior to vesting. The impact of unvested Operating Partnership unit awards on EPU has been calculated using the two-class method whereby earnings are allocated to the unvested Operating Partnership unit awards based on distributions and the unvested Operating Partnership units’ participation rights in undistributed earnings (losses). The calculation of diluted earnings per unit for the year ended December 31, 2015, 2014, and 2013 does not include 184,545 units, 430,584 units, and 630,130 unvested weighted average Operating Partnership units, respectively, as these equity securities are either considered contingently issuable or the effect of including these equity securities was anti-dilutive. The computation of basic and diluted EPS is presented below (dollars in thousands, except share and per share amounts):
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- Definition The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income, and compensation-related costs for equity-based compensation. Includes, but is not limited to, disclosure of policies, compensation plan details, equity-based arrangements to obtain goods and services, deferred compensation arrangements, and employee stock purchase plan details. No definition available.
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Income Taxes (Notes) |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| INCOME TAXES | INCOME TAXES We elected to be taxed as a REIT and operate in a manner that allows us to qualify as a REIT, for federal income tax purposes commencing with our taxable year ending December 31, 2011. As a REIT, we are generally not subject to corporate level income tax on the earnings distributed currently to our stockholders that we derive from our REIT qualifying activities. Taxable income from non-REIT activities managed through our TRS is subject to federal and state income taxes. We lease our hotel property to a wholly owned TRS that is subject to federal and state income taxes. We account for income taxes using the asset and liability method, under which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between GAAP carrying amounts and their respective tax bases. Additionally, we classify certain state taxes as income taxes for financial reporting purposes in accordance with ASC Topic 740, Income Taxes. A deferred tax liability is included in our consolidated balance sheets of $0.2 million as of December 31, 2015 and 2014, in relation to real estate asset basis differences and prepaid expenses for our TRS. The income tax provision included in other income (expense) on the consolidated statement of income is as follows (in thousands):
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies (Notes) |
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| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| COMMITMENTS AND CONTINGENCIES | COMMITMENTS AND CONTINGENCIES Legal We are sometimes involved in various disputes, lawsuits, warranty claims, environmental and other matters arising in the ordinary course of business. Management makes assumptions and estimates concerning the likelihood and amount of any potential loss relating to these matters. We are currently a party to various legal proceedings. We accrue a liability for litigation if an unfavorable outcome is probable and the amount of loss can be reasonably estimated. If an unfavorable outcome is probable and a reasonable estimate of the loss is a range, we accrue the best estimate within the range; however, if no amount within the range is a better estimate than any other amount, the minimum within the range is accrued. Legal fees related to litigation are expensed as incurred. We do not believe that the ultimate outcome of these matters, either individually or in the aggregate, could have a material adverse effect on our financial position or overall trends in results of operations; however, litigation is subject to inherent uncertainties. Also, under our leases, tenants are typically obligated to indemnify us from and against all liabilities, costs and expenses imposed upon or asserted against us as owner of the properties due to certain matters relating to the operation of the properties by the tenant. Commitments At The Landmark at One Market, we lease, as lessee, a building adjacent to The Landmark under an operating lease effective through June 30, 2021, which we have the option to extend until 2031 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, 2015 (in thousands):
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 $6.8 million based on operating performance through December 31, 2015. Our Del Monte Center property has ongoing environmental remediation related to ground water contamination. The environmental issue existed at purchase and is currently in the final stages of remediation. The final stages of the remediation will include routine, long term ground monitoring by the appropriate regulatory agency over the next five to seven years. The work performed is financed through an escrow account funded by the seller upon our purchase of the Del Monte Center. We believe the funds in the escrow account are sufficient for the remaining work to be performed. However, if further work is required costing more than the remaining escrow funds, we could be required to pay such overage, although we may have a contractual claim for such costs against the prior owner or our environmental remediation consultant. 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, 2015, the company accrued approximately $6.6 million for transfer taxes in connection with its Offering. The company believes that it has filed all necessary forms with the requisite taxing authorities. Concentrations of Credit Risk Our properties are located in Southern California, Northern California, Hawaii, Oregon, Texas and Washington. The ability of the tenants to honor the terms of their respective leases is dependent upon the economic, regulatory and social factors affecting the markets in which the tenants operate. Eleven of our consolidated properties, representing 28.7% of our total revenue for the year ended December 31, 2015, 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 21.7% of total revenues for the year ended December 31, 2015. Tenants in the retail industry accounted for 35.8% and 37.0% of total revenues for the years December 31, 2015 and 2014, 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 15.0% and 15.6% of total revenues for the years ended December 31, 2015 and 2014, respectively. Tenants in the office industry accounted for 35.4% and 35.6% of total revenues for the years December 31, 2015 and 2014, 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, 2015 and 2014, no tenant accounted for more than 10.0% of our total rental revenue. At December 31, 2015, salesforce.com, inc. at The Landmark at One Market accounted for 7.9% of total annualized base rent. Three other tenants (Autodesk, Inc., Kmart, and Lowe's) comprise 8.7% of our total annualized base rent at December 31, 2015, 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, 2015 for our office properties, retail properties and the retail portion of our mixed-use property. |
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Operating Leases (Notes) |
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| Leases, Operating [Abstract] | |||||||||||||||||||||||||||||||||||||
| OPERATING LEASES | OPERATING LEASES At December 31, 2015, our retail, office and mixed-use properties are located in five states: California, Oregon, Hawaii, Washington and Texas. At December 31, 2015, we had approximately 804 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 1,038 leases with residential tenants at December 31, 2015, 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, 2015, minimum future rentals from noncancelable operating leases before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows for the years ended December 31 (in thousands):
The above future minimum rentals exclude residential leases, which are typically range from seven to fifteen months, and exclude the hotel, as rooms are rented on a nightly basis. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Component of Rental Income and Expense (Notes) |
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| Operating Leases, Income Statement, Lease Revenue [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| COMPONENTS OF RENTAL INCOME AND EXPENSE | COMPONENTS OF RENTAL INCOME AND EXPENSE The principal components of rental income are as follows (in thousands):
Minimum rents include $2.7 million, $1.9 million and $2.6 million for the years ended December 31, 2015, 2014 and 2013, respectively, to recognize minimum rents on a straight-line basis. In addition, minimum rents include $2.9 million, $2.8 million and $2.4 million for the years ended December 31, 2015, 2014 and 2013, respectively, to recognize the amortization of above and below market leases. The principal components of rental expenses are as follows (in thousands):
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- Definition The entire disclosure of the principle components of rental income and/or rental expense recognized for the period. No definition available.
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- References No definition available.
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Other Income (Expenses) (Notes) |
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| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| OTHER INCOME (EXPENSE) | OTHER INCOME (EXPENSE) The principal components of other income (expense), net are as follows (in thousands):
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- Definition The entire disclosure for other income or other expense items (both operating and nonoperating). Sources of nonoperating income or nonoperating expense that may be disclosed, include amounts earned from dividends, interest on securities, profits (losses) on securities, net and miscellaneous other income or income deductions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Related Party Transactions (Notes) |
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| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS At Torrey Reserve Campus, we lease space to ICW, an entity owned and controlled by Ernest Rady. Rental revenue recognized on the leases of $2.2 million, $2.2 million and $2.2 million for the years ended December 31, 2015, 2014 and 2013, respectively, is included in rental income. Additionally, on July 1, 2014, we entered into a workers' compensation insurance policy with ICW. The policy premium is approximately $0.4 million for the period July 1, 2014 through July 1, 2015. We renewed this policy with ICW on July 1, 2015 and the premium is approximately $0.2 million for the period July 1, 2015 through July 1, 2016. On occasion, the company utilizes aircraft services provided by AAI Aviation, Inc. ("AAIA"), an entity owned and controlled by Ernest Rady. For the years ending December 31, 2015, 2014 and 2013, we incurred approximately $0.2 million, $0.1 million and $0.1 million, respectively, of expenses related to aircraft services of AAIA or reimbursement to Mr. Rady (or his trust) for use of the aircraft owned by AAIA. These expenses are recorded as general and administrative expenses in our consolidated statements of comprehensive income. On March 9, 2015, we entered into a common stock Purchase Agreement with EIC, an entity owned and controlled by Ernest Rady. The Purchase Agreement provided for the sale by us to EIC, in a private placement, of 200,000 shares of common stock at a price of $40.54 per share, resulting in gross proceeds to us of approximately $8.1 million. The price per share paid by EIC was equal to the closing price of a share of our common stock on the New York Stock Exchange on the date of the Purchase Agreement. On September 12, 2014, the company entered into a common stock Purchase Agreement with ICW. The Purchase Agreement provides for the sale by the company to ICW, in a private placement, of 400,000 shares of common stock at a price of $33.76 per share, resulting in gross proceeds to the company of approximately $13.5 million. See Note 10. As of December 31, 2015, Mr. Rady and his affiliates owned approximately 10.1% of our outstanding common stock and 23.5% of our outstanding common units, which together represent an approximate 33.6% beneficial interest in our company on a fully diluted basis. The Waikiki Beach Walk entities have a 47.7% investment in WBW CHP LLC, an entity that was formed to, among other things, construct a chilled water plant to provide air conditioning to the property and other adjacent facilities. The operating expenses of WBW CHP LLC are recovered through reimbursements from its members, and reimbursements to WBW CHP LLC of $1.0 million, $1.1 million and $1.1 million were made for the years ended December 31, 2015, 2014 and 2013 and included in rental expenses on the statements of income. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment Reporting (Notes) |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEGMENT REPORTING | SEGMENT REPORTING Segment information is prepared on the same basis that our management reviews information for operational decision-making purposes. We review operating and financial information for each property on an individual basis and therefore, each property represents an individual operating segment. However, we have aggregated our properties into reportable segments as the properties share similar long-term economic characteristics and have other similarities including the fact that they are operated using consistent business strategies. We operate in four business segments: the acquisition, redevelopment, ownership and management of retail real estate, office real estate, multifamily real estate and mixed-use real estate. The products for our retail segment primarily include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our office segment primarily include rental of office space and other tenant services, including tenant reimbursements, parking and storage space rental. The products for our multifamily segment include rental of apartments and other tenant services. The products of our mixed-use segment include rental of retail space and other tenant services, including tenant reimbursements, parking and storage space rental and operation of a 369-room all-suite hotel. We evaluate the performance of our segments based on segment profit which is defined as property revenue less property expenses. We do not use asset information as a measure to assess performance and make decisions to allocate resources. Therefore, depreciation and amortization expense is not allocated among segments. General and administrative expenses, interest expense, depreciation and amortization expense and other income and expense are not included in segment profit as our internal reporting addresses these items on a corporate level. Segment profit is not a measure of operating income or cash flows from operating activities as measured by GAAP, and it is not indicative of cash available to fund cash needs and should not be considered an alternative to cash flows as a measure of liquidity. Not all companies calculate segment profit in the same manner. We consider segment profit to be an appropriate supplemental measure to net income because it assists both investors and management in understanding the core operations of our properties. The following table represents operating activity within our reportable segments (in thousands):
The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands):
The following table shows net real estate and secured note payable balances for each of the segments, along with their capital expenditures for each year (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Information (Unaudited) (Notes) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| QUARTERLY FINANCIAL INFORMATION (UNAUDITED) | QUARTERLY FINANCIAL INFORMATION (UNAUDITED) The tables below reflect selected American Assets Trust, Inc. quarterly information for 2015 and 2014 (in thousands, except per shares data):
The tables below reflect selected American Assets Trust, L.P. quarterly information for 2015 and 2014 (in thousands, except per shares data):
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events (Notes) |
12 Months Ended |
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Dec. 31, 2015 | |
| Subsequent Events [Abstract] | |
| SUBSEQUENT EVENTS | SUBSEQUENT EVENTS On January 29, 2016, we entered into a forward-starting interest rate swap contract with U.S. Bank National Association to reduce the interest rate variability exposure of the projected interest cash flows of our prospective new seven-year term loan (anticipated to close on March 1, 2016). The forward-starting seven-year swap contract had a notional amount of $100 million, a termination date of March 1, 2023, a fixed pay rate of 1.4485%, a receive rate equal to the one-month LIBOR, with fixed rate payments due monthly commencing April 1, 2016, floating payments due monthly commencing April 1, 2016, and floating reset dates two days prior to the first day of each calculation period. The forward-starting seven-year swap contract accrual period, March 1, 2016 to March 1, 2023, was designed to match the expected tenor of our prospective new seven-year term loan (anticipated to close on March 1, 2016). The forward-starting interest rate swap contract was deemed to be a highly effective cash flow hedge and we elected to designate the forward-starting swap contract as an accounting hedge. |
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- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation (Notes) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation |
(1) For Federal tax purposes, the aggregate tax basis is approximately $1.6 billion as of December 31, 2015.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure of real estate investments and associated accumulated depreciation for entities with a significant portion of their business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies (Policies) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business and Organization | Business and Organization American Assets Trust, Inc. (which may be referred to in these financial statements as the “company,” “we,” “us,” or “our”) is a Maryland corporation formed on July 16, 2010 that did not have any operating activity until the consummation of our initial public offering (the “Offering”) and the related acquisition on January 19, 2011 of certain assets of a combination of entities whose assets included entities owned and/or controlled by Ernest S. Rady and his affiliates, including the Rady Trust, which in turn owned (1) controlling interests in entities owning 17 properties and the property management business of American Assets, Inc. and (2) noncontrolling interests in entities owning four properties. The company is the sole general partner of American Assets Trust, L.P., a Maryland limited partnership formed on July 16, 2010 (the “Operating Partnership”). The company's operations are carried on through our Operating Partnership and its subsidiaries, including our taxable REIT subsidiary. Since the formation of our Operating Partnership, the company has controlled our Operating Partnership as its general partner and has consolidated its assets, liabilities and results of operations. We are a vertically integrated and self-administered REIT with 131 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; or references to beneficial ownership interests, are unaudited and outside the scope of our independent registered public accounting firm's audit of our financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. As of December 31, 2015, 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, 2015, 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:
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| Basis of Presentation | Basis of Presentation Our consolidated financial statements include the accounts of the company, our Operating Partnership and our subsidiaries. The equity interests of other investors in our Operating Partnership are reflected as noncontrolling interests. All significant intercompany transactions and balances are eliminated in consolidation. |
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| Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America, referred to as “GAAP,” requires management to make estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities, and revenues and expenses. These estimates are prepared using management's best judgment, after considering past, current and expected events and economic conditions. Actual results could differ from these estimates. |
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| Consolidated Statements of Cash Flows-Supplemental Disclosures | Consolidated Statements of Cash Flows-Supplemental Disclosures The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):
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| Revenue Recognition and Accounts Receivable | Revenue Recognition and Accounts Receivable Our leases with tenants are classified as operating leases. Substantially all such leases contain fixed rent escalations which occur at specified times during the term of the lease. Base rents are recognized on a straight-line basis from when the tenant controls the space through the term of the related lease, net of valuation adjustments, based on management's assessment of credit, collection and other business risks. When we determine that we are the owner of tenant improvements and the tenant has reimbursed us for a portion or all of the tenant improvement costs, we consider the amount paid to be additional rent, which is recognized on a straight-line basis over the term of the related lease. For first generation tenants, in instances in which we fund tenant improvements and the improvements are deemed to be owned by us, revenue recognition will commence when the improvements are substantially completed and possession or control of the space is turned over to the tenant. When we determine that the tenant is the owner of tenant improvements, tenant allowances are recorded as lease incentives and we commence revenue recognition and lease incentive amortization when possession or control of the space is turned over to the tenant for tenant work to begin. Percentage rents, which represent additional rents based upon the level of sales achieved by certain tenants, are recognized at the end of the lease year or earlier if we have determined the required sales level is achieved and the percentage rents are collectible. Real estate tax and other cost reimbursements are recognized on an accrual basis over the periods in which the related expenditures are incurred. Other property income includes parking income, general excise tax billed to tenants and fees charged to tenants at our multifamily properties. Other property income is recognized when 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 $3.7 million, $3.4 million and $3.5 million for the years ended December 31, 2015, 2014 and 2013, 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, 2015 and December 31, 2014, our allowance for doubtful accounts was $0.5 million and $0.8 million, respectively, and our allowance for deferred rent receivables was $1.3 million and $1.2 million, respectively. Total bad debt expense was $0.4 million, $0.2 million and $0.1 million for the years ended December 31, 2015, 2014 and 2013, 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. |
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| Real Estate | Real Estate Land, buildings and improvements are recorded at cost. Depreciation is computed using the straight-line method. Estimated useful lives range generally from 30 years to a maximum of 40 years on buildings and major improvements. Minor improvements, furniture and equipment are capitalized and depreciated over useful lives ranging from 3 years to 15 years. Maintenance and repairs that do not improve or extend the useful lives of the related assets are charged to operations as incurred. Tenant improvements are capitalized and depreciated over the life of the related lease or their estimated useful life, whichever is shorter. If a tenant vacates its space prior to the contractual termination of its lease, the undepreciated balance of any tenant improvements are written off if they are replaced or have no future value. For the years ended December 31, 2015, 2014 and 2013, real estate depreciation expense was $54.2 million, $56.0 million and $52.0 million, respectively. Acquisitions of properties are accounted for in accordance with the authoritative accounting guidance on acquisitions and business combinations. Our methodology of allocating the cost of acquisitions to assets acquired and liabilities assumed is based on estimated fair values, replacement cost and appraised values. When we acquire operating real estate properties, the purchase price is allocated to land and buildings, intangibles such as in-place leases, and to current assets and liabilities acquired, if any. Such valuations include a consideration of the noncancelable terms of the respective leases as well as any applicable renewal periods. The fair values associated with below market renewal options are determined based on a review of several qualitative and quantitative factors on a lease-by-lease basis at acquisition to determine whether it is probable that the tenant would exercise its option to renew the lease agreement. These factors include: (1) the type of tenant in relation to the property it occupies, (2) the quality of the tenant, including the tenant's long term business prospects and (3) whether the fixed rate renewal option was sufficiently lower than the fair rental of the property at the date the option becomes exercisable such that it would appear to be reasonably assured that the tenant would exercise the option to renew. The value allocated to in-place leases is amortized over the related lease term and reflected as depreciation and amortization in the statement of income. The value of above and below market leases associated with the original noncancelable lease terms are amortized to rental income over the terms of the respective noncancelable lease periods and are reflected as either an increase (for below market leases) or a decrease (for above market leases) to rental income in the statement of income. The value of the leases associated with below market lease renewal options that are likely to be exercised are amortized to rental income over the respective renewal periods. If a tenant vacates its space prior to contractual termination of its lease or the lease is not renewed, the unamortized balance of any in-place lease value is written off to rental income and amortization expense. Acquisition-related expenses are expensed in the period incurred. |
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| Capitalized Costs | Capitalized Costs We capitalize certain costs related to the development and redevelopment of real estate including pre-construction costs, real estate taxes, insurance and construction costs and salaries and related costs of personnel directly involved. Additionally, we capitalize interest costs related to development and significant redevelopment activities. Capitalization of these costs begins when the activities and related expenditures commence and cease when the project is substantially complete and ready for its intended use, at which time the project is placed in service and depreciation commences. Additionally, we make estimates as to the probability of certain development and redevelopment projects being completed. If we determine that the completion of development or redevelopment is no longer probable, we expense all capitalized costs which are not recoverable. |
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| Impairment of Long Lived Assets | Impairment of Long Lived Assets We review for impairment on a property by property basis. Impairment is recognized on properties held for use when the expected undiscounted cash flows for a property are less than its carrying amount at which time the property is written-down to fair value. Properties held for sale are recorded at the lower of the carrying amount or the expected sales price less costs to sell. |
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| Financial Instruments | Financial Instruments The estimated fair values of financial instruments are determined using available market information and appropriate valuation methods. Considerable judgment is necessary to interpret market data and develop estimated fair values. The use of different market assumptions or estimation methods may have a material effect on the estimated fair value amounts. Accordingly, estimated fair values are not necessarily indicative of the amounts that could be realized in current market exchanges. |
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| Derivative Instruments | Derivative Instruments At times, we may use derivative instruments to manage exposure to variable interest rate risk. We may enter into interest rate swaps to manage our exposure to variable interest rate risk. If and when we enter into derivative instruments, we ensure that such instruments qualify as cash flow hedges and would not enter into derivative instruments for speculative purposes. Any interest rate swaps associated with our cash flow hedges are recorded at fair value on a recurring basis. We assess effectiveness of our cash flow hedges both at inception and on an ongoing basis. The effective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into interest expense as interest is incurred on the related variable rate debt. Our cash flow hedges become ineffective if critical terms of the hedging instrument and the debt instrument do not perfectly match such as notional amounts, settlement dates, reset dates, calculation period and LIBOR rate. In addition, we evaluate the default risk of the counterparty by monitoring the credit worthiness of the counterparty. When ineffectiveness exists, the ineffective portion of changes in fair value of the interest rate swaps associated with our cash flow hedges is recognized in earnings in the period affected. We had no hedging instruments outstanding during 2013. 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 8). |
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| Cash and Cash Equivalents | Cash and Cash Equivalents We define cash and cash equivalents as cash on hand, demand deposits with financial institutions and short term liquid investments with an initial maturity of less than 3 months. Cash balances in individual banks may exceed the federally insured limit of $250,000 by the Federal Deposit Insurance Corporation (the "FDIC"). No losses have been experienced related to such accounts. |
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| Restricted Cash | Restricted Cash Restricted cash consists of amounts held by lenders to provide for future real estate tax expenditures, insurance expenditures and reserves for capital improvements. 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. |
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| Other Assets | 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.” |
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| Variable Interest Entities | Variable Interest Entities Certain entities that do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties or in which equity investors do not have the characteristics of a controlling financial interest qualify as variable interest entities (“VIEs”). VIEs are required to be consolidated by their primary beneficiary. The primary beneficiary of a VIE is the party that has a controlling interest in the VIE. Identifying the party with the controlling interest requires a focus on which entity has the power to direct the activities of the VIE that most significantly impact the VIE's economic performance and (1) the obligation to absorb the expected losses of the VIE or (2) the right to receive the benefits from the VIE. |
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| Stock-Based Compensation | Stock-Based Compensation We grant stock-based compensation awards to our employees and directors typically in the form of restricted shares of common stock, options to purchase common stock and/or shares of common stock. We measure stock-based compensation expense based on the fair value of the award on the grant date and recognize the expense ratably over the vesting period. |
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| Deferred Compensation | Deferred Compensation Our Operating Partnership has adopted the American Assets Trust Executive Deferral Plan V (“EDP V”) and the American Assets Trust Executive Deferral Plan VI (“EDP VI”). These plans were adopted by our Operating Partnership as successor plans to those deferred compensation plans maintained by American Assets Inc. ("AAI") in which certain employees of AAI, who were transferred to us in connection with the Offering (the “Transferred Participants”), participated prior to the Offering. EDP V and EDP VI contain substantially the same terms and conditions as these predecessor plans. AAI transferred to our Operating Partnership the Transferred Participants' account balances under the predecessor plans. These transferred account balances represent amounts deferred by the Transferred Participants prior to the Offering while they were employed by AAI. At the time eligible participants defer compensation, we record compensation cost and a corresponding deferred compensation plan liability, which is included in other liabilities and deferred credits on our consolidated balance sheets. This liability is adjusted to fair value at the end of each accounting period based on the performance of the benchmark funds selected by each participant, and the impact of adjusting the liability to fair value is recorded as an increase or decrease to compensation cost. |
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| Income Taxes | Income Taxes We elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”) commencing with the taxable year ending December 31, 2011. To maintain our qualification as a REIT, we are required to distribute at least 90% of our REIT taxable income to our stockholders and meet the various other requirements imposed by the Code relating to such matters as operating results, asset holdings, distribution levels and diversity of stock ownership. Provided we maintain our qualification for taxation as a REIT, we are generally not subject to corporate level income tax on the earnings distributed currently to our stockholders that we derive from our REIT qualifying activities. If we fail to maintain our qualification as a REIT in any taxable year, and are unable to avail ourselves of certain savings provisions set forth in the Code, all of our taxable income would be subject to 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. |
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| Segment Information | Segment Information Segment information is prepared on the same basis that our management reviews information for operational decision-making purposes. We operate in four 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. |
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| Recent Accounting Pronouncements | Recent Accounting Pronouncements In April 2014, the FASB issued ASU 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity. ASU 2014-08 revises the definition of a discontinued operation to a disposal, sale or held-for-sale component or group of components that represents a strategic shift that will have a major effect on an entity's operations and financial results. This pronouncement is effective in 2015, however, calendar year-end companies may early adopt during the first quarter of 2014. We have chosen to early adopt this pronouncement and it became effective for us in the first quarter of 2014. The adoption of this pronouncement resulted in the gain on sale of real estate of $7.1 million for the year ended December 31, 2015 included in continuing operations as opposed to discontinued operations under the previous standard. In May 2014, the FASB issued Update No. 2014-09, Revenue from Contracts with Customers. Update No. 2014-09 establishes that companies may recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This pronouncement is effective for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period; early adoption is not permitted. We are in the process of evaluating the impact this pronouncement will have on our consolidated financial statements. In February 2015, the FASB issued an ASU that requires reporting entities to evaluate whether they should consolidate certain legal entities. The ASU modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities and eliminates the presumption that a general partner should consolidate a limited partnership. This affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. The ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply the amendments in the ASU using: (i) a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption; or (ii) by applying the amendments retrospectively. We do not expect the adoption of this pronouncement to have a significant impact on our consolidated financial statements. In April 2015, the FASB issued an ASU that requires reporting entities to present debt issuance cost related to a note as a direct deduction from the face amount of that note presented in the balance sheet. The ASU requires the amortization of debt issuance costs presented as interest expense. The ASU is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. A reporting entity may apply the amendments in the ASU retrospectively to all prior periods. We do not expect the adoption of this pronouncement to have a significant impact on our consolidated financial statements. |
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| Fair Value Measurements | FAIR VALUE OF FINANCIAL INSTRUMENTS A fair value measurement is based on the assumptions that market participants would use in pricing an asset or liability. The hierarchy for inputs used in measuring fair value is as follows:
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. |
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- Definition Entity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for cash and cash equivalents with respect to unrestricted balances. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to employees, including equity-based arrangements; discloses methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for consolidation to describe the significant judgments and assumptions made in determining whether a variable interest held by the entity requires the variable interest entity to be consolidated and (or) disclose information about its involvement with the variable interest entity; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; and the significant factors considered and judgments made in determining that the power to direct the activities that significantly impact the economic performance of the variable interest entity are shared (as defined). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for deferral and amortization of significant deferred charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities. No definition available.
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| X | ||||||||||
- Definition Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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| X | ||||||||||
- Definition Disclosure of accounting policy for entities that primarily develop and then sell real property at retail or otherwise. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for segment reporting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Properties Owned | A summary of the properties owned by us is as follows:
A summary of our real estate investments is as follows (in thousands):
(1) Land related to held for development and construction in progress is included in the Held for Development and Construction in Progress classifications on the consolidated balance sheets. |
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| Consolidated Statements of Cash Flows-Supplemental Disclosures | The following table provides supplemental disclosures related to the Consolidated Statements of Cash Flows (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of supplemental cash flow information for the periods presented. No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. No definition available.
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Real Estate (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Real Estate [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Real Estate Investments | A summary of the properties owned by us is as follows:
A summary of our real estate investments is as follows (in thousands):
(1) Land related to held for development and construction in progress is included in the Held for Development and Construction in Progress classifications on the consolidated balance sheets. |
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations. No definition available.
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Acquired In-Place Leases and Above/Below Market Leases (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of acquired lease intangibles included in other assets and other liabilities | Increases (decreases) in net income as a result of amortization of our in-place leases, above market leases and below market leases are as follows (in thousands):
The following summarizes our acquired lease intangibles, which are included in other assets and other liabilities and deferred credits (in thousands):
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| Future Amortization for Acquired In-Place Leases | As of December 31, 2015, the amortization for acquired leases during the next five years and thereafter, assuming no early lease terminations, is as follows (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value of Financial Instruments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial liabilities measured at fair value on recurring basis | A summary of our financial liabilities that are measured at fair value on a recurring basis by level within the fair value hierarchy is as follows (in thousands):
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| Carrying amount and fair value of financial instruments | A summary of the carrying amount and fair value of our financial instruments, all of which are based on Level 2 inputs, is as follows (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of liabilities. This disclosure may include, but is not limited to, the fair value of the liability, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Other Assets (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Components of Prepaid Expenses and Other Assets | Other assets consist of the following (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the carrying amounts of other assets. This disclosure includes other current assets and other noncurrent assets. No definition available.
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Other Liabilities and Deferred Credits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Liabilities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other liabilities and deferred credits | Other liabilities and deferred credits consist of the following (in thousands):
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| X | ||||||||||
- Definition Tabular disclosure of other liabilities and deferred credits not separately disclosed on the balance sheet. No definition available.
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| X | ||||||||||
- References No definition available.
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Debt (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of total secured notes payable outstanding | The following is a summary of the Operating Partnership's total secured notes payable outstanding as of December 31, 2015 and December 31, 2014 (in thousands):
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| Scheduled principal payments on notes payable | Scheduled principal payments on secured and unsecured notes payable as of December 31, 2015 are as follows (in thousands):
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- References No definition available.
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative and Hedging (Tables) |
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Interest Rate Derivatives | The following is a summary of the terms of the interest rate swap as of December 31, 2015 (dollars in thousands):
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- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Equity of American Assets Trust, Inc. (Tables) |
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, 2015, 2014 and 2013:
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| Summary of income tax status of dividends per share paid | A summary of the income tax status of dividends per share paid is as follows:
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| Schedule of restricted common stock | The following shares of restricted common stock have been issued as of December 31, 2015:
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| Activity of restricted stock awards | The following table summarizes the activity of non-vested restricted stock awards during the year ended December 31, 2015:
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| 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):
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| X | ||||||||||
- Definition Dividends declared and paid on shares of common stock and noncontrolling common units. No definition available.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of all or some of the information related to dividends declared, but not paid, as of the financial reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. No definition available.
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Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income tax provision | The income tax provision included in other income (expense) on the consolidated statement of income is as follows (in thousands):
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- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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, 2015 (in thousands):
As of December 31, 2015, minimum future rentals from noncancelable operating leases before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows for the years ended December 31 (in thousands):
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- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Operating Leases (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases, Operating [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Current minimum future rentals under the leases | Current minimum annual payments under the leases are as follows, as of December 31, 2015 (in thousands):
As of December 31, 2015, minimum future rentals from noncancelable operating leases before any reserve for uncollectible amounts and assuming no early lease terminations, at our office and retail properties and the retail portion of our mixed-use property are as follows for the years ended December 31 (in thousands):
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Component of Rental Income and Expense (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Leases, Income Statement, Lease Revenue [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal components of rental income | The principal components of rental income are as follows (in thousands):
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| Principal components of rental expenses | The principal components of rental expenses are as follows (in thousands):
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- Definition Components of rental expense. No definition available.
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| X | ||||||||||
- Definition Components of rental income. No definition available.
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- References No definition available.
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Other Income (Expenses) (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Principal components of other income (expense), net | The principal components of other income (expense), net are as follows (in thousands):
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- References No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of the components of non-operating income or non-operating expense that may include amounts earned from dividends, interest on securities, gains (losses) on securities sold, equity earnings of unconsolidated affiliates, net gain (loss) on sales of business, interest expense and other miscellaneous income or expense items. No definition available.
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Segment Reporting (Tables) |
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of segments operating activity | The following table represents operating activity within our reportable segments (in thousands):
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| Reconciliation of segment profit to net income attributable to stockholders | The following table is a reconciliation of segment profit to net income attributable to stockholders (in thousands):
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| Net Real Estate and Secured note payable balances by Segments | The following table shows net real estate and secured note payable balances for each of the segments, along with their capital expenditures for each year (in thousands):
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| X | ||||||||||
- Definition Tabular disclosure of the net real estate and secured note payable balances by segment. No definition available.
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| X | ||||||||||
- Definition Reconciliation of segment profit to net income attributable to stockholders. No definition available.
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| X | ||||||||||
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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Quarterly Financial Information (Unaudited) (Tables) |
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| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Selected Quarterly Information | The tables below reflect selected American Assets Trust, Inc. quarterly information for 2015 and 2014 (in thousands, except per shares data):
The tables below reflect selected American Assets Trust, L.P. quarterly information for 2015 and 2014 (in thousands, except per shares data):
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- References No definition available.
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- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies (Details) |
12 Months Ended | |||
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Dec. 31, 2015
USD ($)
Employee
Segment
Room
Property
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Dec. 31, 2014
USD ($)
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Dec. 31, 2013
USD ($)
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Jan. 09, 2014 |
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| Summary Of Significant Accounting Policies [Line Items] | ||||
| Number of employees | Employee | 131 | |||
| Number of office, retail, multifamily and mixed-use operating properties | Property | 23 | |||
| Properties held for development | Property | 5 | |||
| Allowance for doubtful accounts | $ (500,000) | $ (800,000) | ||
| Total bad debt expense | 400,000 | 200,000 | $ 100,000 | |
| Real estate depreciation expense | $ 54,200,000 | 56,000,000 | 52,000,000 | |
| 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 | 32,800,000 | 32,400,000 | ||
| Restricted cash | $ 11,623,000 | 10,994,000 | ||
| Number of operating segments | Segment | 4 | |||
| Room in mixed-use segment all-suite hotel | Room | 369 | |||
| Money Market Funds | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Cash balance at banks, excess of FDIC insured limit | $ 100,000 | 20,000,000 | ||
| Term Loan | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Line of credit interest rate (in percents) | 3.08% | |||
| Minimum | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Percentage of taxable income required to distribute to qualify as real estate investment trust (REIT) | 90.00% | |||
| Building And Improvement | Minimum | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Real Estate, estimated useful lives | 30 years | |||
| Building And Improvement | Maximum | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Real Estate, estimated useful lives | 40 years | |||
| Furniture And Equipment | Minimum | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Real Estate, estimated useful lives | 3 years | |||
| Furniture And Equipment | Maximum | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Real Estate, estimated useful lives | 15 years | |||
| Deferred Rent Receivables | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| Allowance for doubtful accounts | $ (1,300,000) | (1,200,000) | ||
| Other Income | ||||
| Summary Of Significant Accounting Policies [Line Items] | ||||
| General excise tax recognized, gross | $ 3,700,000 | $ 3,400,000 | $ 3,500,000 | |
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- Definition Cash Equivalents, Maturity Period No definition available.
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- Definition Number of rooms in mixed use segment all suite hotel. No definition available.
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- Definition Percentage Of Distributed Taxable Income To Qualify As Reit No definition available.
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- Definition The number of real estate properties held for development. No definition available.
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- Definition Summary Of Significant Accounting Policies [Line Items] No definition available.
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- Definition Number of persons employed by the Entity No definition available.
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- Definition For an unclassified balance sheet, a valuation allowance for receivables due a company that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of cash deposited in financial institutions as of the balance sheet date that is insured by the Federal Deposit Insurance Corporation. No definition available.
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- Definition The amount of cash as of the balance sheet date that is not insured by the Federal Deposit Insurance Corporation. No definition available.
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fixed interest rate that will be received or paid upon exercise of the interest rate swaption contract. No definition available.
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- Definition The excise taxes collected by a public utility and reported in revenues if the amount of excise taxes is equal to 1 percent or more of such total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
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| X | ||||||||||
- Definition The number of real estate properties owned as of the balance sheet date. No definition available.
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| X | ||||||||||
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
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- Definition Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. This element is for unclassified presentations; for classified presentations there is a separate and distinct element. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Summary of Significant Accounting Policies Supplemental Disclosures Related to Consolidated Statements of Cash Flows (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Supplemental cash flow information | |||
| Total interest costs incurred | $ 54,829 | $ 58,455 | $ 60,133 |
| Interest capitalized | 7,569 | 5,490 | 2,113 |
| Interest expense | 47,260 | 52,965 | 58,020 |
| Cash paid for interest, net of amounts capitalized | 42,691 | 48,032 | 54,345 |
| Cash paid for income taxes | 633 | 404 | 901 |
| Supplemental schedule of noncash investing and financing activities | |||
| Accounts payable and accrued liabilities for construction in progress | (14,733) | 9,908 | 5,001 |
| Accrued leasing commissions | (901) | 763 | 1,385 |
| Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction | 0 | 750 | 0 |
| Reduction to capital for prepaid equity financing costs | $ 54 | $ 40 | $ 437 |
| X | ||||||||||
- Definition Change in accrued liabilities for construction in progress. No definition available.
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| X | ||||||||||
- Definition Change in accrued leasing commissions No definition available.
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| X | ||||||||||
- Definition Reduction to Capital for Prepaid Offering Costs No definition available.
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| X | ||||||||||
- Definition The amount of debt issuance costs that were incurred during a noncash or partial noncash transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of interest costs capitalized disclosed as an adjusting item to interest costs incurred. No definition available.
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- Definition Total interest costs incurred during the period and either capitalized or charged against earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- References No definition available.
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Real Estate Summary of Real Estate Investments (Details) - USD ($) $ in Thousands |
Dec. 31, 2015 |
Dec. 31, 2014 |
||
|---|---|---|---|---|
| Real Estate Properties [Line Items] | ||||
| Construction in progress | $ 73,121 | $ 195,736 | ||
| Total Real estate, at cost | 2,246,028 | 2,136,824 | ||
| Accumulated depreciation | (411,166) | (361,424) | ||
| Net real estate | 1,834,862 | 1,775,400 | ||
| Total Retail | ||||
| Real Estate Properties [Line Items] | ||||
| Net real estate | 638,893 | 639,456 | ||
| Total Office | ||||
| Real Estate Properties [Line Items] | ||||
| Net real estate | 796,773 | 757,854 | ||
| Real Estate Investment | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 490,494 | 494,103 | ||
| Buildings | 1,501,459 | 1,289,499 | ||
| Land improvements | 54,119 | 53,720 | ||
| Tenant improvements | 120,719 | 108,310 | ||
| Furniture, fixtures, and equipment | 15,065 | 12,456 | ||
| Construction in progress | [1] | 64,172 | 178,736 | |
| Total Real estate, at cost | 2,246,028 | 2,136,824 | ||
| Accumulated depreciation | (411,166) | (361,424) | ||
| Net real estate | 1,834,862 | 1,775,400 | ||
| Real Estate Investment | Total Retail | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 245,588 | 248,386 | ||
| Buildings | 500,075 | 500,088 | ||
| Land improvements | 40,203 | 39,999 | ||
| Tenant improvements | 54,993 | 50,504 | ||
| Furniture, fixtures, and equipment | 491 | 491 | ||
| Construction in progress | 20,817 | 5,327 | ||
| Total Real estate, at cost | 862,167 | 844,795 | ||
| Accumulated depreciation | (223,274) | (205,339) | ||
| Net real estate | 638,893 | 639,456 | ||
| Real Estate Investment | Total Office | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 143,575 | 143,575 | ||
| Buildings | 665,431 | 621,343 | ||
| Land improvements | 8,273 | 8,273 | ||
| Tenant improvements | 63,880 | 56,127 | ||
| Furniture, fixtures, and equipment | 1,265 | 750 | ||
| Construction in progress | 41,669 | 31,878 | ||
| Total Real estate, at cost | 924,093 | 861,946 | ||
| Accumulated depreciation | (127,320) | (104,092) | ||
| Net real estate | 796,773 | 757,854 | ||
| Real Estate Investment | Total Multifamily | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 24,696 | 25,507 | ||
| Buildings | 210,093 | 42,270 | ||
| Land improvements | 3,280 | 3,085 | ||
| Tenant improvements | 0 | 0 | ||
| Furniture, fixtures, and equipment | 7,638 | 5,832 | ||
| Construction in progress | 1,649 | 141,205 | ||
| Total Real estate, at cost | 247,356 | 217,899 | ||
| Accumulated depreciation | (38,626) | (35,431) | ||
| Net real estate | 208,730 | 182,468 | ||
| Real Estate Investment | Total Mixed-Use | ||||
| Real Estate Properties [Line Items] | ||||
| Land | 76,635 | 76,635 | ||
| Buildings | 125,860 | 125,798 | ||
| Land improvements | 2,363 | 2,363 | ||
| Tenant improvements | 1,846 | 1,679 | ||
| Furniture, fixtures, and equipment | 5,671 | 5,383 | ||
| Construction in progress | 37 | 326 | ||
| Total Real estate, at cost | 212,412 | 212,184 | ||
| Accumulated depreciation | (21,946) | (16,562) | ||
| Net real estate | $ 190,466 | $ 195,622 | ||
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- Definition Amount before accumulated depreciation of building structures held for productive use including addition, improvement, or renovation to the structure, including, but not limited to, interior masonry, interior flooring, electrical, and plumbing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of structure or a modification to a structure under construction. Includes recently completed structures or modifications to structures that have not been placed into service. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before accumulated depreciation of equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before accumulated depletion of real estate held for productive use, excluding land held for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before accumulated deprecation and depletion of additions or improvements to real estate held for productive use. Examples include, but are not limited to, walkways, driveways, fences, and parking lots. No definition available.
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- Definition The cumulative amount of depreciation for real estate property held for investment purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of real estate investment property which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Carrying amount as of the balance sheet date of improvements having a life longer than one year that were made for the benefit of one or more tenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Real Estate (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
Aug. 06, 2015 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
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| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
| Proceeds from sale of real estate, net of selling costs | $ 12,259 | $ 0 | $ 0 | |
| Rancho Carmel Plaza | ||||
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||||
| Consideration from sale of property | $ 12,700 | |||
| Proceeds from sale of real estate, net of selling costs | $ 12,300 | |||
| Gain on sale of property | $ 7,100 | |||
| X | ||||||||||
- Definition Amount of consideration received or receivable for the disposal of assets and liabilities, including discontinued operation. No definition available.
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- Definition Amount before tax of gain (loss) recognized on the sale or disposal of a disposal group. Excludes discontinued operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Cash received from the sale of real estate that is held for investment, that is, it is part of an investing activity during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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Acquired In-Place Leases and Above/Below Market Leases Summary of Acquired Lease Intangibles (Details) - USD ($) $ in Thousands |
Dec. 31, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Finite-Lived Intangible Assets, Gross [Abstract] | ||
| Acquired lease intangible assets | $ 3,337 | $ 5,103 |
| Net of accumulated amortization of other intangible assets | (1,904) | (1,590) |
| Below Market Lease [Abstract] | ||
| Below market leases | 68,973 | 70,013 |
| Accumulated accretion | (30,806) | (27,161) |
| Acquired lease intangible liabilities, net | 38,167 | 42,852 |
| In-place leases | ||
| Finite-Lived Intangible Assets, Gross [Abstract] | ||
| Acquired lease intangible assets | 52,289 | 53,967 |
| Net of accumulated amortization of other intangible assets | (38,425) | (35,336) |
| Acquired lease intangible assets, net | 13,864 | |
| Above Market Leases | ||
| Finite-Lived Intangible Assets, Gross [Abstract] | ||
| Acquired lease intangible assets | 22,201 | 22,500 |
| Net of accumulated amortization of other intangible assets | (18,864) | (17,397) |
| Acquired lease intangible assets, net | 3,337 | |
| Acquired lease intangible assets | ||
| Finite-Lived Intangible Assets, Gross [Abstract] | ||
| Acquired lease intangible assets, net | $ 17,201 | $ 23,734 |
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- References No definition available.
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- Definition Amount of accumulated amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
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- Definition Amount before amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
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- Definition Amount after amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
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- Definition This element represents the identifiable intangible asset established upon acquisition based on a favorable difference between the terms of an acquired lease and the current market terms for that lease at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
|
Acquired In-Place Leases and Above/Below Market Leases (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of acquired above and below market leases | $ 2.9 | $ 2.8 | $ 2.4 |
| Weighted-average amortization period of below market leases | 7 years 10 months | ||
| Acquired lease, below market renewal options | $ 17.5 | ||
| Weighted-average amortization period of acquired leases prior to the commencement of renewal option | 9 years 9 months | ||
| In-place leases | |||
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Weighted-average amortization period of acquired leases | 2 years | ||
| Above Market Leases | |||
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Weighted-average amortization period of acquired leases | 8 months | ||
| X | ||||||||||
- Definition Acquired Finite-Lived Intangible Liabilities, Below Market Leases, Weighted Average Period Before Renewal or Extension No definition available.
|
| X | ||||||||||
- Definition Finite-Lived Intangible Liabilities, Below Market Leases, Renewal Options No definition available.
|
| X | ||||||||||
- Definition Finite-Lived Intangible Liabilities, Below Market Leases, Weighted Average Period Before Next Renewal or Extension No definition available.
|
| X | ||||||||||
- Definition Weighted average period before the next renewal or extension for intangible assets with renewal or extension terms, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of non-cash amortization of intangible asset (liability) for above and below market leases. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Acquired In-Place Leases and Above/Below Market Leases Increases (Decreases) in Net Income as Result of Amortization of In-Place Leases Above Market Leases and Below Market Leases (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of leases | $ (1,848) | $ (3,142) | $ (6,732) |
| Amortization of below market leases | 4,686 | 5,057 | 6,440 |
| In-place leases | |||
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of leases | (4,767) | (5,903) | (9,120) |
| Above Market Leases | |||
| Acquired Finite-Lived Intangible Assets [Line Items] | |||
| Amortization of leases | $ (1,767) | $ (2,296) | $ (4,052) |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization of acquired leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- Definition The expense charged against earnings for the periodic recognition of capitalized leases. This element may apply to energy companies that lease mineral producing properties and to other enterprises that capitalize property, plant, or equipment obtained through capital leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Acquired In-Place Leases and Above/Below Market Leases Amortization for Acquired In-Place Leases During Next Five Years and Thereafter Assuming No Early Lease Terminations (Details) - USD ($) $ in Thousands |
Dec. 31, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract] | ||
| 2016 | $ 4,605 | |
| 2017 | 4,235 | |
| 2018 | 3,572 | |
| 2019 | 3,481 | |
| 2020 | 2,917 | |
| Thereafter | 19,357 | |
| Acquired lease intangible liabilities, net | 38,167 | $ 42,852 |
| In-place leases | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| 2016 | 3,931 | |
| 2017 | 3,189 | |
| 2018 | 1,893 | |
| 2019 | 1,452 | |
| 2020 | 909 | |
| Thereafter | 2,490 | |
| Acquired lease intangible assets, net | 13,864 | |
| Above Market Leases | ||
| Acquired Finite-Lived Intangible Assets [Line Items] | ||
| 2016 | 1,248 | |
| 2017 | 932 | |
| 2018 | 628 | |
| 2019 | 319 | |
| 2020 | 99 | |
| Thereafter | 111 | |
| Acquired lease intangible assets, net | $ 3,337 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization income for leases with a finite life acquired as part of a real property acquisition at below market lease rate expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount after amortization of leases acquired as part of a real property acquisition at below market lease rate with a finite life. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Fair Value of Financial Instruments Liabilities Fair Value Measurement on a Recurring Basis (Details) - USD ($) $ in Thousands |
Dec. 31, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | $ 929 | $ 981 |
| Interest rate swap liability | 1,686 | 1,448 |
| Fair Value, Inputs, Level 1 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | 0 | 0 |
| Interest rate swap liability | 0 | 0 |
| Fair Value, Inputs, Level 2 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | 929 | 981 |
| Interest rate swap liability | 1,686 | 1,448 |
| Fair Value, Inputs, Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Deferred compensation liability | 0 | 0 |
| Interest rate swap liability | $ 0 | $ 0 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregation of the liabilities reported on the balance sheet measured at fair value on a recurring basis by the entity. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Fair Value of Financial Instruments (Details) - Fair Value, Inputs, Level 2 |
12 Months Ended |
|---|---|
Dec. 31, 2015 | |
| Minimum | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Interest rate used to estimate fair value of mortgages and notes payable (in percents) | 3.50% |
| Maximum | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Interest rate used to estimate fair value of mortgages and notes payable (in percents) | 6.40% |
| X | ||||||||||
- Definition Risk-free interest rate assumption used in valuing an instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Fair Value of Financial Instruments Carrying Amount and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands |
Dec. 31, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Secured notes payable | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | $ 579,743 | $ 812,811 |
| Secured notes payable | Estimate of Fair Value Measurement | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 592,956 | 850,475 |
| Unsecured term loan | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 100,000 | 100,000 |
| Unsecured term loan | Estimate of Fair Value Measurement | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 100,000 | 100,000 |
| Unsecured senior guaranteed notes | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 350,000 | 150,000 |
| Unsecured senior guaranteed notes | Estimate of Fair Value Measurement | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 357,779 | 154,560 |
| Unsecured line of credit | Carrying Value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | 30,000 | 0 |
| Unsecured line of credit | Estimate of Fair Value Measurement | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
| Long-term debt, fair value | $ 30,000 | $ 0 |
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Other Assets (Details) - USD ($) $ in Thousands |
Dec. 31, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | ||
| Leasing commissions, net of accumulated amortization of $23,565 and $20,659 respectively | $ 18,952 | $ 19,484 |
| Acquired above market leases, net | 3,337 | 5,103 |
| Acquired in-place leases, net | 13,864 | 18,631 |
| Lease incentives, net of accumulated amortization of $3,341 and $2,960, respectively | 509 | 740 |
| Other intangible assets, net of accumulated amortization of $1,904 and $1,590, respectively | 941 | 453 |
| Debt issuance costs, net of accumulated amortization of $4,648 and $4,147, respectively | 4,130 | 5,361 |
| Prepaid expenses, deposits and other | 4,336 | 3,629 |
| Total other assets | 46,069 | 53,401 |
| Leasing commissions, accumulative amortization | 23,565 | 20,659 |
| Lease incentives, accumulated amortization | 3,341 | 2,960 |
| Other intangible assets, accumulated amortization | 1,904 | 1,590 |
| Debt issuance costs, accumulated amortization | $ 4,648 | $ 4,147 |
| X | ||||||||||
- Definition Lease Incentive Accumulated Amortization No definition available.
|
| X | ||||||||||
- Definition For an unclassified balance sheet, the accumulated amortization, as of the reporting date, representing the periodic charge to earnings of deferred costs which are associated with debt obligations existing as of the end of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition For an unclassified balance sheet, the accumulated amortization, as of the reporting date, which represents the periodic charge to earnings of initial direct costs which have been deferred and are being allocated over the lease term in proportion to the recognition of rental income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents costs incurred by the lessor that are (a) costs to originate a lease incurred in transactions with independent third parties that (i) result directly from and are essential to acquire that lease and (ii) would not have been incurred had that leasing transaction not occurred and (b) certain costs directly related to specified activities performed by the lessor for that lease. Those activities are: evaluating the prospective lessee's financial condition; evaluating and recording guarantees, collateral, and other security arrangements; negotiating lease terms; preparing and processing lease documents; and closing the transaction. This element is net of accumulated amortization. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition For an unclassified balance sheet, the carrying amount (net of accumulated amortization) as of the balance sheet date of capitalized costs associated with the issuance of debt instruments (for example, legal, accounting, underwriting, printing, and registration costs) that will be charged against earnings over the life of the debt instruments to which such costs pertain. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents the amount of value allocated by a lessor (acquirer) to lease agreements which exist at acquisition of a leased property. Such amount may include the value assigned to existing tenant relationships and excludes the market adjustment component of the value assigned for above or below-market leases acquired. No definition available.
|
| X | ||||||||||
- Definition This element represents the identifiable intangible asset established upon acquisition based on a favorable difference between the terms of an acquired lease and the current market terms for that lease at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This item represents the deferred charge for an incentive or inducement granted by a lessor to a lessee, in order to motivate the lessee to enter the lease agreement, which incentive or inducement is to be recognized as a reduction of rental revenue over the lease term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Gross carrying amount before accumulated amortization as of the balance sheet date of intangible assets not otherwise specified in the taxonomy having a reasonably expected period of economic benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets. No definition available.
|
| X | ||||||||||
- Definition Carrying amount as of the balance sheet date of expenditures made in advance of when the economic benefit of the cost will be realized, and which will be expensed in future periods with the passage of time or when a triggering event occurs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Other Liabilities and Deferred Credits (Details) - USD ($) $ in Thousands |
Dec. 31, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Other Liabilities Disclosure [Abstract] | ||
| Acquired below market leases, net | $ 38,167 | $ 42,852 |
| Prepaid rent and deferred revenue | 8,203 | 7,288 |
| Interest rate swap liability | 1,686 | 1,448 |
| Straight-line rent liability | 2,319 | 2,533 |
| Deferred rent expense and lease intangible | 434 | 584 |
| Deferred compensation | 929 | 981 |
| Deferred tax liabilities | 174 | 219 |
| Other liabilities | 60 | 88 |
| Total other liabilities and deferred credits, net | $ 51,972 | $ 55,993 |
| X | ||||||||||
- Definition Deferred rent expense and lease intangible. No definition available.
|
| X | ||||||||||
- Definition Aggregate carrying value as of the balance sheet date of the liabilities for all deferred compensation arrangements. Represents currently earned compensation under compensation arrangements that is not actually paid until a later date. No definition available.
|
| X | ||||||||||
- Definition Total carrying amount as of the balance sheet date of unearned revenue or income, not otherwise specified in the taxonomy, which is expected to be taken into income in future periods and obligations not separately disclosed in the balance sheet (other liabilities). No definition available.
|
| X | ||||||||||
- Definition The cumulative difference between the rental payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense over the term of the leased property by the lessor or lessee, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred revenue as of balance sheet date. Deferred revenue represents collections of cash or other assets related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, before jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents a liability associated with the acquisition of an off-market lease when the terms of the lease are unfavorable to the market terms for the lease at the date of acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate carrying amount, as of the balance sheet date, of liabilities not separately disclosed in the balance sheet. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Debt Summary of Total Secured Notes Payable Outstanding (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Notes payable, total | $ 1,034,002 | ||||||||||||
| American Assets Trust, L.P. | The Shops at Kalakaua | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1],[2] | 0.00% | |||||||||||
| Stated Maturity Date | [1],[2] | May 01, 2015 | |||||||||||
| American Assets Trust, L.P. | The Land Mark at One Market | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1],[3] | 0.00% | |||||||||||
| Stated Maturity Date | [1],[3] | Jul. 05, 2015 | |||||||||||
| American Assets Trust, L.P. | Del Monte Center | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1],[4] | 0.00% | |||||||||||
| Stated Maturity Date | [1],[4] | Jul. 08, 2015 | |||||||||||
| American Assets Trust, L.P. | First & Main | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1] | 3.97% | |||||||||||
| Stated Maturity Date | [1] | Jul. 01, 2016 | |||||||||||
| American Assets Trust, L.P. | Imperial Beach Gardens | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1] | 6.16% | |||||||||||
| Stated Maturity Date | [1] | Sep. 01, 2016 | |||||||||||
| American Assets Trust, L.P. | Mariner's Point | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1] | 6.09% | |||||||||||
| Stated Maturity Date | [1] | Sep. 01, 2016 | |||||||||||
| American Assets Trust, L.P. | South Bay Marketplace | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1] | 5.48% | |||||||||||
| Stated Maturity Date | [1] | Feb. 10, 2017 | |||||||||||
| American Assets Trust, L.P. | Waikiki Beach Walk - Retail | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1] | 5.39% | |||||||||||
| Stated Maturity Date | [1] | Jul. 01, 2017 | |||||||||||
| American Assets Trust, L.P. | Solana Beach Corporate Centre III-IV | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [5] | 6.39% | |||||||||||
| Stated Maturity Date | [5] | Aug. 01, 2017 | |||||||||||
| American Assets Trust, L.P. | Loma Palisades | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1] | 6.09% | |||||||||||
| Stated Maturity Date | [1] | Jul. 01, 2018 | |||||||||||
| American Assets Trust, L.P. | One Beach Street | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1] | 3.94% | |||||||||||
| Stated Maturity Date | [1] | Apr. 01, 2019 | |||||||||||
| American Assets Trust, L.P. | Torrey Reserve - North Court | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [5] | 7.22% | |||||||||||
| Stated Maturity Date | [5] | Jun. 01, 2019 | |||||||||||
| American Assets Trust, L.P. | Torrey Reserve-VCI, VCII, VCIII | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [5] | 6.36% | |||||||||||
| Stated Maturity Date | [5] | Jun. 01, 2020 | |||||||||||
| American Assets Trust, L.P. | Solana Beach Corporate Centre I-II | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [5] | 5.91% | |||||||||||
| Stated Maturity Date | [5] | Jun. 01, 2020 | |||||||||||
| American Assets Trust, L.P. | Solana Beach Towne Centre | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [5] | 5.91% | |||||||||||
| Stated Maturity Date | [5] | Jun. 01, 2020 | |||||||||||
| American Assets Trust, L.P. | City Center Bellevue | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Stated Interest Rate | [1] | 3.98% | |||||||||||
| Stated Maturity Date | [1] | Nov. 01, 2022 | |||||||||||
| Secured notes payable | American Assets Trust, L.P. | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | $ 584,002 | $ 819,983 | |||||||||||
| Unamortized fair value adjustment | (4,259) | (7,172) | |||||||||||
| Notes payable, total | $ 579,743 | 812,811 | |||||||||||
| Number of year amortization schedule | 30 years | ||||||||||||
| Secured notes payable | American Assets Trust, L.P. | The Shops at Kalakaua | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1],[2] | $ 0 | 19,000 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | The Land Mark at One Market | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1],[3] | 0 | 133,000 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Del Monte Center | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1],[4] | 0 | 82,300 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | First & Main | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1] | 84,500 | 84,500 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Imperial Beach Gardens | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1] | 20,000 | 20,000 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Mariner's Point | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1] | 7,700 | 7,700 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | South Bay Marketplace | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1] | 23,000 | 23,000 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Waikiki Beach Walk - Retail | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1] | 130,310 | 130,310 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Solana Beach Corporate Centre III-IV | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [5] | 35,920 | 36,376 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Loma Palisades | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1] | 73,744 | 73,744 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | One Beach Street | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1] | 21,900 | 21,900 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Torrey Reserve - North Court | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [5] | 20,749 | 21,075 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Torrey Reserve-VCI, VCII, VCIII | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [5] | 6,995 | 7,101 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Solana Beach Corporate Centre I-II | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [5] | 11,119 | 11,302 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | Solana Beach Towne Centre | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [5] | 37,065 | 37,675 | ||||||||||
| Secured notes payable | American Assets Trust, L.P. | City Center Bellevue | |||||||||||||
| Debt Instrument [Line Items] | |||||||||||||
| Secured notes payable, Principal Balance | [1] | $ 111,000 | $ 111,000 | ||||||||||
| |||||||||||||
| X | ||||||||||
- Definition Amount of long-term debt before deduction of unamortized discount or premium. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt, with initial maturities beyond one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition The amount of debt discount that was originally recognized at the issuance of the instrument that has yet to be amortized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt Summary of Total Unsecured Notes Payable Outstanding (Details) $ in Thousands |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Aug. 19, 2014 |
Dec. 31, 2015
USD ($)
Extension_Option
|
Dec. 31, 2014
USD ($)
|
Jan. 09, 2014
USD ($)
|
||||||
| Debt Instrument [Line Items] | |||||||||
| Unsecured notes payable | $ 450,000 | $ 250,000 | |||||||
| American Assets Trust, L.P. | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Unsecured notes payable | $ 450,000 | 250,000 | |||||||
| American Assets Trust, L.P. | Interest Rate Swap | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Fixed interest rate on derivative | 2.1305% | 3.08% | |||||||
| Term of derivative contract | 7 years | ||||||||
| American Assets Trust, L.P. | Forward Contracts | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Term of derivative contract | 1 month | 1 month | |||||||
| Gain on derivatives | $ 1,600 | ||||||||
| Effective interest rate (percent) | 3.88% | ||||||||
| Term Loan | American Assets Trust, L.P. | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Unsecured notes payable | $ 100,000 | 100,000 | $ 100,000 | ||||||
| Stated Maturity Date | [1] | Jan. 09, 2019 | |||||||
| Number of extensions available | Extension_Option | 2 | ||||||||
| Extension term (in months) | 12 months | ||||||||
| Senior Guaranteed Notes, Series A | American Assets Trust, L.P. | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Unsecured notes payable | $ 150,000 | 150,000 | |||||||
| Stated Interest Rate | [2] | 4.04% | |||||||
| Stated Maturity Date | Oct. 31, 2021 | ||||||||
| Senior Guaranteed Notes, Series B | American Assets Trust, L.P. | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Unsecured notes payable | $ 100,000 | 0 | |||||||
| Stated Interest Rate | 4.45% | ||||||||
| Stated Maturity Date | Feb. 02, 2025 | ||||||||
| Senior Guaranteed Notes, Series C | American Assets Trust, L.P. | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Unsecured notes payable | $ 100,000 | $ 0 | |||||||
| Stated Interest Rate | 4.50% | ||||||||
| Stated Maturity Date | Apr. 01, 2025 | ||||||||
| |||||||||
| X | ||||||||||
- Definition Debt Instrument, Extension Options No definition available.
|
| X | ||||||||||
- Definition Debt Instrument, Extension Term No definition available.
|
| X | ||||||||||
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Date when the debt instrument is scheduled to be fully repaid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Fixed interest rate related to the interest rate derivative. No definition available.
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- Definition Amount of increase in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Period the derivative contract is outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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| X | ||||||||||
- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt (Details) |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
|
Oct. 31, 2014
USD ($)
|
Jan. 09, 2014
USD ($)
Extension_Option
|
Sep. 07, 2012 |
Jan. 10, 2012 |
Mar. 07, 2011 |
Dec. 31, 2015
USD ($)
Extension_Option
|
Dec. 31, 2014
USD ($)
|
Jan. 19, 2011
USD ($)
|
|
| Debt Instrument [Line Items] | ||||||||
| Unsecured line of credit | $ 30,000,000 | $ 0 | ||||||
| Unsecured notes payable | 450,000,000 | 250,000,000 | ||||||
| Unsecured line of credit | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Maximum leverage ratio of revolving credit facility | 60.00% | |||||||
| Maximum secured leverage ratio on revolving credit facility | 40.00% | |||||||
| Minimum fixed charge coverage ratio covenant threshold | 1.5 | |||||||
| Minimum interest coverage ratio covenant threshold | 175.00% | |||||||
| Maximum unsecured leverage ratio (in percents) | 60.00% | |||||||
| Minimum tangible net worth | $ 721,160,000.00 | |||||||
| Percent of net proceeds of any additional equity issuances in relation to net proceeds as of Offering | 75.00% | |||||||
| Maximum recourse indebtedness of total asset value (in percents) | 15.00% | |||||||
| Percentage annual distributions cannot exceed funds from operations | 95.00% | |||||||
| Unsecured line of credit | Base Rate | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 0.50% | |||||||
| Unsecured line of credit | Eurodollar [Member] | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 1.00% | |||||||
| American Assets Trust, L.P. | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 250,000,000.0 | |||||||
| 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 | 100 | |||||||
| Unsecured line of credit | 30,000,000 | 0 | ||||||
| Unsecured notes payable | 450,000,000 | 250,000,000 | ||||||
| American Assets Trust, L.P. | Subject to meeting specified requirements and obtaining additional commitments | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 400,000,000.0 | |||||||
| American Assets Trust, L.P. | Unsecured line of credit | Base Rate [Member] | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Variable rate basis | base rate | |||||||
| American Assets Trust, L.P. | Unsecured line of credit | Revolving Credit Facility | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Number of extensions available | Extension_Option | 2 | |||||||
| Extension term (in months) | 6 months | |||||||
| American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Principal of non-recourse mortgage loan | $ 350,000,000 | |||||||
| Partial debt repayment, minimum percentage of principal (in percent) | 5.00% | |||||||
| Full debt repayment percentage of principal plus a Make-Whole Amount (in percent) | 100.00% | |||||||
| American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes, Series A | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Principal of non-recourse mortgage loan | $ 150,000,000 | |||||||
| Stated Interest Rate | 4.04% | |||||||
| American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes, Series B | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Principal of non-recourse mortgage loan | $ 100,000,000 | |||||||
| Stated Interest Rate | 4.45% | |||||||
| American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes, Series C | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Principal of non-recourse mortgage loan | $ 100,000,000 | |||||||
| Stated Interest Rate | 4.50% | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 350,000,000 | |||||||
| Allowable additional borrowing capacity | $ 250,000,000 | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Minimum | Revolving Credit Facility | Base Rate [Member] | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 0.35% | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Maximum | Revolving Credit Facility | Base Rate [Member] | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 0.95% | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Unsecured line of credit | $ 30,000,000 | |||||||
| Weighted average interest rate (in percent) | 1.54% | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Base Rate [Member] | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Prime rate | prime rate | |||||||
| Federal funds rate | federal funds rate | |||||||
| Eurodollar | Eurodollar | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 250,000,000 | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | LIBOR | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Variable rate basis | LIBOR | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Minimum | Revolving Credit Facility | LIBOR | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 1.35% | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Maximum | Revolving Credit Facility | LIBOR | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 1.95% | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured term loan | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Revolving credit facility borrowing limit, maximum borrowing capacity | $ 100,000,000 | |||||||
| Number of extensions available | Extension_Option | 3 | |||||||
| Extension term (in months) | 12 months | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured term loan | Minimum | LIBOR | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 1.30% | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured term loan | Minimum | Base Rate [Member] | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 0.30% | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured term loan | Maximum | LIBOR | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 1.90% | |||||||
| American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured term loan | Maximum | Base Rate [Member] | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Basis spread on variable rate (in percents) | 0.90% | |||||||
| American Assets Trust, L.P. | Term Loan | ||||||||
| Debt Instrument [Line Items] | ||||||||
| Number of extensions available | Extension_Option | 2 | |||||||
| Extension term (in months) | 12 months | |||||||
| Unsecured notes payable | $ 100,000,000 | $ 100,000,000 | $ 100,000,000 |
| X | ||||||||||
- Definition Additional term of revolving credit facility based on specified requirements. No definition available.
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- Definition Debt Instrument, Extension Options No definition available.
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- Definition Debt Instrument, Extension Term No definition available.
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- Definition Debt Instrument, Partial Repayment, Minimum Percentage of Principal No definition available.
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- Definition Debt Instrument, Prepayment, Percentage of Principal Plus a Stated Amount No definition available.
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- Definition Debt Instrument, Variable Rate Basis, One No definition available.
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- Definition Debt Instrument, Variable Rate Basis, Three No definition available.
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- Definition Debt Instrument, Variable Rate Basis, Two No definition available.
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- Definition Line of credit facility material acquisition. No definition available.
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- Definition Maximum leverage percentage of revolving credit facility. No definition available.
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- Definition Line of Credit Facility, Allowable Additional Borrowing Capacity No definition available.
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- Definition Maximum maturities of securities. No definition available.
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- Definition Maximum Recourse Indebtedness of Total Asset Value No definition available.
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- Definition Maximum Secured Leverage Ratio On Revolving Credit Facility No definition available.
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- Definition Maximum Unsecured Leverage Ratio No definition available.
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- Definition Minimum Fixed Charge Coverage Ratio On Revolving Credit Facility No definition available.
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- Definition Minimum Tangible Net Worth No definition available.
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- Definition Minimum Unsecured Interest Coverage Ratio No definition available.
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- Definition Percent of secured indebtedness of the company's secured total assets value. No definition available.
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- Definition Percentage limit on annual distributions in relation to funds from operations. No definition available.
|
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- Definition Percentage of net proceeds of additional equity Issuances covenant of credit facility. No definition available.
|
| X | ||||||||||
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
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- Definition The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average effective interest rate during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Including the current and noncurrent portions, carrying value as of the balance sheet date of uncollateralized debt obligations (with maturities initially due after one year or beyond the operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt Scheduled Principal Payments on Notes Payable (Details) $ in Thousands |
Dec. 31, 2015
USD ($)
|
|---|---|
| Debt Disclosure [Abstract] | |
| 2015 | $ 113,974 |
| 2016 | 190,139 |
| 2017 | 75,224 |
| 2018 | 142,662 |
| 2019 | 51,003 |
| Thereafter | 461,000 |
| Notes payable, total | $ 1,034,002 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of long-term debt payable, sinking fund requirements, and other securities issued that are redeemable by holder at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivative and Hedging (Details) - USD ($) |
12 Months Ended | |||
|---|---|---|---|---|
Sep. 19, 2014 |
Aug. 19, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
| Derivative liabilities at fair value | $ 1,686,000 | $ 1,448,000 | ||
| American Assets Trust, L.P. | Interest Rate Swap | ||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
| Notional amount | $ 150,000,000 | |||
| Fixed interest rate on derivative | 2.1305% | 3.08% | ||
| Term of derivative contract | 7 years | |||
| American Assets Trust, L.P. | Forward Contracts | ||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
| Term of derivative contract | 1 month | 1 month | ||
| American Assets Trust, L.P. | Cash Flow Hedging | Designated as Hedging Instrument | Interest Rate Swap | ||||
| Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||
| Notional amount | $ 100,000,000 | |||
| Fixed interest rate on derivative | 3.08% | |||
| Effective date | Jan. 09, 2014 | |||
| Maturity date | Jan. 09, 2019 | |||
| Derivative liabilities at fair value | $ 1,686,000 | |||
| Gain recognized in other comprehensive income (loss) | $ 1,600,000 |
| X | ||||||||||
- Definition Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Fixed interest rate related to the interest rate derivative. No definition available.
|
| X | ||||||||||
- Definition Date the entity entered into the derivative contract, in CCYY-MM-DD format. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The effective portion of gains on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Date the derivative contract matures, in CCYY-MM-DD format. No definition available.
|
| X | ||||||||||
- Definition Period the derivative contract is outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
- Definition Fair value as of the balance sheet date of interest rate derivative liabilities, which includes all such derivative instruments in hedging and nonhedging relationships that are recognized as liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Partners Capital of American Assets Trust, L.P. (Details) - shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Capital Unit [Line Items] | |||
| Noncontrolling Interest, Ownership Percentage by Parent | 71.70% | ||
| Common Stock | |||
| Capital Unit [Line Items] | |||
| Conversion of operating partnership units (in shares) | 5,741 | 11,852 | 106,326 |
| American Assets Trust, L.P. | |||
| Capital Unit [Line Items] | |||
| Noncontrolling common units | 17,899,516 | ||
| Percentage of ownership interests classified as noncontrolling | 28.30% | ||
| American Assets Trust, L.P. | Common Stock | |||
| Capital Unit [Line Items] | |||
| Conversion of operating partnership units (in shares) | 5,741 | 11,852 | 106,326 |
| X | ||||||||||
- Definition Shares held by minority interest in Operating partnerships. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
- Definition The parent entity's interest in net assets of the subsidiary, expressed as a percentage. No definition available.
|
| X | ||||||||||
- Definition The number of shares issued during the period upon the conversion of units. An example of a convertible unit is an umbrella partnership real estate investment trust unit (UPREIT unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Equity of American Assets Trust, Inc. (Details) |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
|
May. 27, 2015
USD ($)
Agent
|
Mar. 09, 2015
USD ($)
$ / shares
shares
|
Sep. 12, 2014
USD ($)
$ / shares
shares
|
May. 06, 2013
USD ($)
Agent
|
Dec. 31, 2015
USD ($)
$ / shares
shares
|
Dec. 31, 2014
USD ($)
shares
|
Dec. 31, 2013
USD ($)
shares
|
|
| Equity [Line Items] | |||||||
| Preferred stock, shares authorized | shares | 10,000,000 | ||||||
| Preferred stock, par-value (in dollars per share) | $ / shares | $ 0.01 | ||||||
| Equity incentive award plan, common stock authorized for issuance | shares | 4,054,411 | ||||||
| Equity incentive award plan, common stock available for future issuance | shares | 3,093,627 | ||||||
| Noncash compensation expense | $ 2,900,000 | $ 3,700,000 | $ 2,800,000 | ||||
| Unrecognized compensation expense | $ 2,800,000 | ||||||
| Weighted average unvested shares outstanding | shares | 184,545 | 430,584 | 630,130 | ||||
| American Assets Trust, L.P. | |||||||
| Equity [Line Items] | |||||||
| Antidilutive securities excluded from computation of EPS (in shares) | shares | 184,545 | 430,584 | 630,130 | ||||
| Restricted Stock | |||||||
| Equity [Line Items] | |||||||
| Unrecognized compensation expense, weighted-average recognition period (in years) | 18 months 25 days | ||||||
| At The Market Equity Program | |||||||
| Equity [Line Items] | |||||||
| Aggregate offering price of common share | $ 250,000,000.0 | $ 150,000,000.0 | |||||
| Common shares issued (in shares) | shares | 1,612,451 | ||||||
| Weighted average price per share (in dollars per share) | $ / shares | $ 40.77 | ||||||
| Gross proceeds from issuance of common stock | $ 65,700,000 | ||||||
| Remaining capacity available for issuance | 216,600,000 | ||||||
| At The Market Equity Program | Commissions | |||||||
| Equity [Line Items] | |||||||
| Payments of stock issuance costs | (700,000) | ||||||
| At The Market Equity Program | Other Offering Costs | |||||||
| Equity [Line Items] | |||||||
| Payments of stock issuance costs | $ (400,000) | ||||||
| Private Placement | Explorer Insurance Company | Board of Directors Chairman | |||||||
| Equity [Line Items] | |||||||
| Common shares issued (in shares) | shares | 200,000 | ||||||
| Gross proceeds from issuance of common stock | $ 8,100,000 | ||||||
| Share price (in dollars per share) | $ / shares | $ 40.54 | ||||||
| Private Placement | ICW Plaza | Board of Directors Chairman | |||||||
| Equity [Line Items] | |||||||
| Common shares issued (in shares) | shares | 400,000 | ||||||
| Gross proceeds from issuance of common stock | $ 13,500,000 | ||||||
| Share price (in dollars per share) | $ / shares | $ 33.76 | ||||||
| $150.0 Million ATM | At The Market Equity Program | |||||||
| Equity [Line Items] | |||||||
| Number of sales agents | Agent | 4 | ||||||
| $250.0 Million ATM | At The Market Equity Program | |||||||
| Equity [Line Items] | |||||||
| Number of sales agents | Agent | 5 | ||||||
| X | ||||||||||
- Definition Maximum aggregate offering price of common shares. No definition available.
|
| X | ||||||||||
- Definition Common Stock Issued During Period, Weighted Price per Share No definition available.
|
| X | ||||||||||
- Definition Equity [Line Items] No definition available.
|
| X | ||||||||||
- Definition Number of Sales Agents No definition available.
|
| X | ||||||||||
- Definition Proceeds from issuance of common stock before sales agent commission and offering costs No definition available.
|
| X | ||||||||||
- Definition Remaining $ Capacity Of Shares To Issue No definition available.
|
| X | ||||||||||
- Definition Weighted average unvested participating securities outstanding. No definition available.
|
| X | ||||||||||
- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Unrecognized cost of unvested share-based awards, other than options, awarded to employees as compensation. No definition available.
|
| X | ||||||||||
- Definition The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The noncash expense that represents the cost of restricted stock or unit distributed to employees as compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
|
| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Equity of American Assets Trust, Inc. Dividends Declared and Paid on Shares of Common Stock and Noncontrolling Common Units (Details) - $ / shares |
3 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
Sep. 30, 2014 |
Jun. 30, 2014 |
Mar. 31, 2014 |
Dec. 31, 2013 |
Sep. 30, 2013 |
Jun. 30, 2013 |
Mar. 31, 2013 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Equity [Abstract] | |||||||||||||||
| Dividends period | Fourth Quarter 2015 | Third Quarter 2015 | Second Quarter 2015 | First Quarter 2015 | Fourth Quarter 2014 | Third Quarter 2014 | Second Quarter 2014 | First Quarter 2014 | Fourth Quarter 2013 | Third Quarter 2013 | Second Quarter 2013 | First Quarter 2013 | |||
| Amount per Share/Unit (in USD per unit) | $ 0.25 | $ 0.2325 | $ 0.2325 | $ 0.2325 | $ 0.2325 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.21 | $ 0.21 | $ 0.2100 | $ 0.95 | $ 0.89 | $ 0.85 |
| Date dividend to be paid | Dec. 23, 2015 | Sep. 25, 2015 | Jun. 26, 2015 | Mar. 27, 2015 | Dec. 26, 2014 | Sep. 26, 2014 | Jun. 27, 2014 | Mar. 28, 2014 | Dec. 27, 2013 | Sep. 27, 2013 | Jun. 28, 2013 | Mar. 29, 2013 | |||
| X | ||||||||||
- Definition Dividends date paid. No definition available.
|
| X | ||||||||||
- Definition Dividends quarterly period. No definition available.
|
| X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Equity of American Assets Trust, Inc. Summary of Income Tax Status of Dividends Per Share Paid (Details) - $ / shares |
3 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
Sep. 30, 2014 |
Jun. 30, 2014 |
Mar. 31, 2014 |
Dec. 31, 2013 |
Sep. 30, 2013 |
Jun. 30, 2013 |
Mar. 31, 2013 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Equity [Abstract] | |||||||||||||||
| Ordinary income (in USD per share) | $ 0.72 | $ 0.61 | $ 0.83 | ||||||||||||
| Capital gain (in USD per share) | 0.04 | 0.00 | 0.00 | ||||||||||||
| Return of capital (in USD per share) | 0.19 | 0.28 | 0.02 | ||||||||||||
| Total (in USD per share) | $ 0.25 | $ 0.2325 | $ 0.2325 | $ 0.2325 | $ 0.2325 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.22 | $ 0.21 | $ 0.21 | $ 0.2100 | $ 0.95 | $ 0.89 | $ 0.85 |
| Ordinary income | 75.90% | 68.90% | 97.60% | ||||||||||||
| Capital gain | 4.40% | 0.00% | 0.00% | ||||||||||||
| Return of capital | 19.70% | 31.10% | 2.40% | ||||||||||||
| Total | 100.00% | 100.00% | 100.00% | ||||||||||||
| X | ||||||||||
- Definition Capital Gain, Dividends, Per Share No definition available.
|
| X | ||||||||||
- Definition Capital Gain, Dividends, Percentage No definition available.
|
| X | ||||||||||
- Definition Common Stock, Dividend Rate, Percentage No definition available.
|
| X | ||||||||||
- Definition Ordinary Income, Dividends, Per Share No definition available.
|
| X | ||||||||||
- Definition Ordinary Income, Dividends, Percentage No definition available.
|
| X | ||||||||||
- Definition Return of Capital, Dividends, Per Share No definition available.
|
| X | ||||||||||
- Definition Return of Capital Dividends Percentage No definition available.
|
| X | ||||||||||
- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Equity of American Assets Trust, Inc. Restricted Common Stock Issued (Details) - Restricted Stock - $ / shares |
3 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Dec. 01, 2015 |
Jun. 16, 2015 |
Dec. 01, 2014 |
Jun. 17, 2014 |
Mar. 25, 2014 |
Jul. 13, 2013 |
Jul. 10, 2012 |
Jan. 19, 2012 |
Sep. 30, 2013 |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
| Award vesting rights | 2 | ||||||||
| Award vesting period | 3 years | ||||||||
| Award vesting percentage | 33.30% | 33.30% | 33.30% | 33.30% | 33.30% | ||||
| Granted, Weighted Average Grant Date Fair Value (in USD per share) | $ 39.64 | $ 34.10 | $ 31.97 | $ 25.05 | |||||
| Granted, Shares | 93,310 | 5,044 | 98,765 | 5,864 | 112,119 | 5,004 | 8,015 | 2,000 | |
| Minimum | |||||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
| Granted, Weighted Average Grant Date Fair Value (in USD per share) | $ 13,670.00 | $ 36.28 | $ 28.89 | $ 11.91 | |||||
| Maximum | |||||||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
| Granted, Weighted Average Grant Date Fair Value (in USD per share) | $ 26,390.00 | $ 36.32 | $ 31.25 | $ 12.61 |
| X | ||||||||||
- Definition Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Description of award terms as to how many shares or portion of an award are no longer contingent on satisfaction of either a service condition, market condition or a performance condition, thereby giving the employee the legal right to convert the award to shares, to sell the shares, and be entitled to the cash proceeds of such sale. For example, vesting may be expressed as being 25 percent of the shares under option on each anniversary of the grant date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Percentage of vesting of share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Equity of American Assets Trust, Inc. Summary of Activity of Restricted Stock Awards (Details) - Restricted Stock Units (RSUs) |
12 Months Ended |
|---|---|
|
Dec. 31, 2015
$ / shares
shares
| |
| Nonvested, Number of Shares | |
| Nonvested, Beginning, Shares | shares | 493,539 |
| Granted, Shares | shares | 98,354 |
| Vested, Shares | shares | (376,462) |
| Forfeited, Shares | shares | (40,687) |
| Nonvested, Ending, Shares | shares | 174,744 |
| Nonvested, Weighted Average Grant Date Fair Value | |
| Nonvested, Beginning, Weighted Average Grant Date Fair Value (in USD per Share) | $ / shares | $ 22.01 |
| Granted, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares | 22.11 |
| Vested, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares | 18.51 |
| Forfeited, Weighted Average Grant Date Fair Value (in USD per share) | $ / shares | 32.78 |
| Nonvested, End of Year, Weighted Average Grant Date Fair Value (in USD per Share) | $ / shares | $ 27.11 |
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
| X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
Equity of American Assets Trust, Inc. Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
Sep. 30, 2014 |
Jun. 30, 2014 |
Mar. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| NUMERATOR | |||||||||||
| Income from continuing operations | $ 53,915 | $ 31,145 | $ 22,594 | ||||||||
| Less: Net income attributable to restricted shares | $ (53) | $ (32) | $ (40) | $ (43) | $ (115) | $ (95) | $ (94) | $ (70) | (168) | (374) | (536) |
| Less: Income from operations attributable to unitholders in the Operating Partnership | (15,238) | (9,015) | (6,838) | ||||||||
| NET INCOME ATTRIBUTABLE TO AMERICAN ASSETS TRUST, INC. STOCKHOLDERS | $ 8,212 | $ 13,562 | $ 8,708 | $ 8,027 | $ 7,024 | $ 6,417 | $ 3,713 | $ 4,602 | 38,509 | 21,756 | 15,220 |
| Income from operations attributable to American Assets Trust, Inc. common stockholders—basic | 38,509 | 21,756 | 15,220 | ||||||||
| Plus: Income from operations attributable to unitholders in the Operating Partnership | 15,238 | 9,015 | 6,838 | ||||||||
| Net income attributable to common stockholders-diluted | $ 53,747 | $ 30,771 | $ 22,058 | ||||||||
| DENOMINATOR | |||||||||||
| Weighted average shares of common stock outstanding-basic (in shares) | 44,439,112 | 42,041,126 | 39,539,457 | ||||||||
| Effect of dilutive securities-conversion of Operating Partnership units (in shares) | 17,900,051 | 17,906,348 | 17,976,353 | ||||||||
| Weighted average common shares outstanding - diluted (in shares) | 62,339,163 | 59,947,474 | 57,515,810 | ||||||||
| Earnings (loss) per common share-basic | |||||||||||
| Basic net income attributable to common stockholders per share (in dollars per share) | $ 0.87 | $ 0.52 | $ 0.38 | ||||||||
| Earnings (loss) per common share-diluted | |||||||||||
| Diluted net income attributable to common stockholders per share (in dollars per share) | $ 0.86 | $ 0.51 | $ 0.38 | ||||||||
| X | ||||||||||
- Definition Computation of basic and diluted earnings per share denominator. No definition available.
|
| X | ||||||||||
- Definition Computation of basic and diluted earnings per share numerator. No definition available.
|
| X | ||||||||||
- Definition Incremental common shares attributable to conversion of Operating partnership units. No definition available.
|
| X | ||||||||||
- Definition Minority interest in continuing operations income (loss) Operating partnerships. No definition available.
|
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses and taxes from ongoing operations before extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Net Income or Loss Available to Common Stockholders plus adjustments resulting from the assumption that dilutive convertible securities were converted, options or warrants were exercised, or that other shares were issued upon the satisfaction of certain conditions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes (Details) - USD ($) $ in Thousands |
Dec. 31, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Income Tax Disclosure [Abstract] | ||
| Deferred tax liabilities | $ 174 | $ 219 |
| X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, before jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
Income Taxes Income Tax Provision Included in Other Income Expense on Consolidated Statement of Operations (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Income Statement [Abstract] | |||
| Federal | $ 305 | $ 190 | $ 370 |
| State | 35 | 284 | 362 |
| Federal | 0 | 0 | (47) |
| State | (45) | (14) | (40) |
| Provision for income taxes | $ 295 | $ 460 | $ 645 |
| X | ||||||||||
- Definition Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Commitments and Contingencies (Details) $ in Millions |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2015
USD ($)
Property
Customer
OptionPlan
mo
|
Dec. 31, 2014 |
|
| Commitment And Contingencies [Line Items] | ||
| Termination payment, as high as | $ | $ 6.8 | |
| 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 | Property | 11 | |
| 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 | 21.70% | |
| Rental Income | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 8.70% | |
| Number of tenants that comprise 8.7% of total annualized based rent | Customer | 3 | |
| Total Revenues | Retail industry | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 35.80% | 37.00% |
| Total Revenues | Office industry | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 35.40% | 35.60% |
| 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 | 15.00% | 15.60% |
| Maximum | Tenants | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of total revenue provided by properties | 2.00% | |
| Maximum | Del Monte Center | Ground Water Contamination | ||
| Commitment And Contingencies [Line Items] | ||
| Environmental remediation monitoring period | 7 years | |
| Minimum | Del Monte Center | Ground Water Contamination | ||
| Commitment And Contingencies [Line Items] | ||
| Environmental remediation monitoring period | 5 years | |
| The Land Mark at One Market | ||
| Commitment And Contingencies [Line Items] | ||
| Number of lease extension options | OptionPlan | 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 | Year of Agreement, 12th | ||
| Commitment And Contingencies [Line Items] | ||
| Years in hotel management agreement term | 15 years | |
| Outrigger Hotels | Year of Agreement, 13th | ||
| Commitment And Contingencies [Line Items] | ||
| Years in hotel management agreement term | 14 years | |
| Outrigger Hotels | Year of Agreement, 14th | ||
| Commitment And Contingencies [Line Items] | ||
| Years in hotel management agreement term | 13 years | |
| Outrigger Hotels | Year of Agreement, 15th | ||
| Commitment And Contingencies [Line Items] | ||
| Years in hotel management agreement term | 12 years | |
| Outrigger Hotels | Maximum | ||
| Commitment And Contingencies [Line Items] | ||
| Property management fee, percent | 3.00% | |
| Wbw Hotel Lessee Llc | ||
| Commitment And Contingencies [Line Items] | ||
| Years of contract | 20 years | |
| Percentage of hotel occupancy gross revenue paid for program fee | 4.00% | |
| Wbw Hotel Lessee Llc | Future Time Period Prior to 12-31-2021 | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of hotel occupancy gross revenue paid for franchise royalty fee | 4.00% | |
| Wbw Hotel Lessee Llc | Future Time Period After 12-31-2021 | ||
| Commitment And Contingencies [Line Items] | ||
| Percentage of hotel occupancy gross revenue paid for franchise royalty fee | 5.00% | |
| X | ||||||||||
- Definition Calendar months. No definition available.
|
| X | ||||||||||
- Definition Commitment And Contingencies [Line Items] No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in first eleven years of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in fourteenth year of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in thirteenth year of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty fact or of previous twelve months of Management fees in twelfth year of term. No definition available.
|
| X | ||||||||||
- Definition Hotel management agreement default penalty factor of previous twelve months of Management fees in fifteenth year of term. No definition available.
|
| X | ||||||||||
- Definition Maximum percentage of hotels fiscal year gross revenues paid for aggregate yearly Management fee. No definition available.
|
| X | ||||||||||
- Definition Maximum percentage of revenue provided by any single tenant. No definition available.
|
| X | ||||||||||
- Definition Number of consolidated properties. No definition available.
|
| X | ||||||||||
- Definition Number of lease extension options. No definition available.
|
| X | ||||||||||
- Definition Number Of Major Customer No definition available.
|
| X | ||||||||||
- Definition Percent annual lease amount increase. No definition available.
|
| X | ||||||||||
- Definition Percentage of hotel occupancy gross revenue paid for franchise royalty fee. No definition available.
|
| X | ||||||||||
- Definition Percentage of hotel occupancy gross revenue paid for program fee. No definition available.
|
| X | ||||||||||
- Definition The maximum percentage of partners common units that should be exchanged or disposed beyond which indemnification rights for certain limited partners will terminate. No definition available.
|
| X | ||||||||||
- Definition The previous months management fees used in the calculation of the management cancellation fee. No definition available.
|
| X | ||||||||||
- Definition Site Contingency, Environmental Remediation Monitoring Period No definition available.
|
| X | ||||||||||
- Definition Term period for termination of agreement. No definition available.
|
| X | ||||||||||
- Definition Transfer Taxes Liability No definition available.
|
| X | ||||||||||
- Definition Years in hotel management agreement term. No definition available.
|
| X | ||||||||||
- Definition Years lease extension option length. No definition available.
|
| X | ||||||||||
- Definition Years of contract. No definition available.
|
| X | ||||||||||
- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of the loss on termination of a contract for default. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The percentage charged for managing real estate properties. No definition available.
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Commitments and Contingencies Current Minimum Annual Payments under Leases (Details) - USD ($) |
Jun. 30, 2021 |
Feb. 28, 2017 |
Dec. 31, 2015 |
|||||
|---|---|---|---|---|---|---|---|---|
| Operating Leased Assets [Line Items] | ||||||||
| 2016 | $ 2,096,000 | |||||||
| 2017 | [1] | 3,097,000 | ||||||
| 2018 | 3,167,000 | |||||||
| 2019 | 3,240,000 | |||||||
| 2020 | 3,315,000 | |||||||
| Thereafter | [2] | 28,176,000 | ||||||
| Total | $ 43,091,000 | |||||||
| Scenario, Forecast | Waikiki Beach Walk | ||||||||
| Operating Leased Assets [Line Items] | ||||||||
| Stated monthly lease rate | $ 61,690 | |||||||
| Scenario, Forecast | The Land Mark at One Market | ||||||||
| Operating Leased Assets [Line Items] | ||||||||
| Stated monthly lease rate | $ 217,744 | |||||||
| ||||||||
| X | ||||||||||
- Definition Stated future monthly lease rate. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for leases having an initial or remaining non-cancelable letter-terms in excess of one year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
|
Operating Leases (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2015
State
Property
mo
| |
| Operating Leased Assets [Line Items] | |
| Number of states where retail, office and mixed-use properties are located | State | 5 |
| Number of office, retail, and multifamily operating leases | 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 |
| Future minimum rentals term, maximum | mo | 12 |
| Retail Or Office | |
| Operating Leased Assets [Line Items] | |
| Number of office, retail, and multifamily operating leases | 804 |
| Residential Property | |
| Operating Leased Assets [Line Items] | |
| Number of office, retail, and multifamily operating leases | 1,038 |
| X | ||||||||||
- Definition Months maximum term length of apartment leases. No definition available.
|
| X | ||||||||||
- Definition Months minimum term of apartment leases. No definition available.
|
| X | ||||||||||
- Definition Number Of States No definition available.
|
| X | ||||||||||
- Definition Operating Leases Rental Expense Terms No definition available.
|
| X | ||||||||||
- Definition Years maximum term range of office and retail leases. No definition available.
|
| X | ||||||||||
- Definition Years minimum term range of office and retail leases. No definition available.
|
| X | ||||||||||
- Definition The number of real estate properties owned as of the balance sheet date. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
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|
Operating Leases Minimum Future Rentals from Noncancelable Operating Leases (Details) $ in Thousands |
Dec. 31, 2015
USD ($)
|
|---|---|
| Leases, Operating [Abstract] | |
| 2016 | $ 167,417 |
| 2017 | 156,368 |
| 2018 | 123,262 |
| 2019 | 87,738 |
| 2020 | 65,087 |
| Thereafter | 181,245 |
| Total | $ 781,117 |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Future minimum rental payments in aggregate as of the balance sheet date under operating leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Future rental payments receivable within one year of the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Future rental payments receivable within the fifth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Future rental payments receivable within the fourth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Future rental payments receivable within the third year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Future rental payments receivable within the second year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Future minimum lease payments receivable under operating leases for periods greater than five years following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Component of Rental Income and Expense (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Operating Leases, Income Statement, Lease Revenue [Abstract] | |||
| Recognition of straight-line rents | $ 2.7 | $ 1.9 | $ 2.6 |
| Recognition of amortization of above and below market leases | $ 2.9 | $ 2.8 | $ 2.4 |
| X | ||||||||||
- Definition Amount of non-cash amortization of intangible asset (liability) for above and below market leases. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Difference between actual rental income due and rental income recognized on a straight-line basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Component of Rental Income and Expense Components of Rental Income (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Rental Income [Line Items] | |||
| Cost reimbursement | $ 30,796 | $ 29,052 | $ 27,583 |
| Percentage rent | 2,834 | 3,107 | 2,655 |
| Hotel revenue | 38,191 | 33,911 | 35,137 |
| Other | 1,492 | 1,681 | 1,688 |
| Total rental income | 261,887 | 246,078 | 242,757 |
| Total Retail | |||
| Rental Income [Line Items] | |||
| Minimum rents | 72,999 | 70,573 | 69,374 |
| Total Office | |||
| Rental Income [Line Items] | |||
| Minimum rents | 87,125 | 82,018 | 81,845 |
| Total Multifamily | |||
| Rental Income [Line Items] | |||
| Minimum rents | 18,137 | 15,732 | 14,926 |
| Total Mixed-Use | |||
| Rental Income [Line Items] | |||
| Minimum rents | $ 10,313 | $ 10,004 | $ 9,549 |
| X | ||||||||||
- Definition Other real estate rental revenue. No definition available.
|
| X | ||||||||||
- Definition Rental Income [Line Items] No definition available.
|
| X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The total amount of lease revenue recognized for the period for which the lessee was obligated under leasing arrangements regardless of any other events or conditions. This amount excludes contingent revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents the rental revenue earned during the period from lessee-operators based on revenues generated in their operations, generally in excess of a base amount. Such rental revenue is generally stipulated in the lease agreement, usually will provide for a fixed percentage of revenue to be paid as additional (or possibly only) rent due the lessor, and may be based on gross revenues, net revenues, or multiple variations thereof. Percentage rent is often required under leases with retail outlets located on premises owned by hoteliers, cruise lines, others in the hospitality industry, and shopping mall operators, among others. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount, net of promotional allowances, of revenue from managing and operating hotels, including, but not limited to, revenue from occupancy, casino, food and beverage, and retail. Excludes operating lease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition In accordance with the provisions of their lease agreement, this element represents allowable charges due a landlord from its tenant. In retail store and office building leases, for example, tenant reimbursements may cover items such as taxes, utilities, and common area expenses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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| X | ||||||||||
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| X | ||||||||||
- Details
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| X | ||||||||||
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Component of Rental Income and Expense Components of Rental Expenses (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Operating Leases, Income Statement, Lease Revenue [Abstract] | |||
| Rental operating | $ 27,611 | $ 26,371 | $ 26,028 |
| Hotel operating | 23,112 | 21,488 | 22,115 |
| Repairs and maintenance | 11,503 | 10,600 | 10,514 |
| Marketing | 2,104 | 1,623 | 1,547 |
| Rent | 2,511 | 2,452 | 2,442 |
| Hawaii excise tax | 4,408 | 3,981 | 4,153 |
| Management fees | 1,938 | 1,752 | 1,809 |
| Total rental expenses | $ 73,187 | $ 68,267 | $ 68,608 |
| X | ||||||||||
- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition This element represents the total of the costs related to real estate revenues, including management, leasing, and development services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate direct costs incurred in operating leased, owned and other hotels. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of excise and sales taxes included in sales and revenues, which are then deducted as a cost of sales. Includes excise taxes, which are applied to specific types of transactions or items (such as gasoline or alcohol); and sales, use and value added taxes, which are applied to a broad class of revenue-producing transactions involving a wide range of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of rent expense incurred for leased assets, including but not limited to, furniture and equipment, that is not directly or indirectly associated with the manufacture, sale or creation of a product or product line. No definition available.
|
| X | ||||||||||
- Definition Amount of expenses related to the managing member or general partner for management of the day-to-day business functions of the limited liability company (LLC) or limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Other Income (Expenses) (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Other Income and Expenses [Abstract] | |||
| Interest and investment income | $ 90 | $ 155 | $ 148 |
| Income tax expense | (295) | (460) | (645) |
| Other non-operating income | 108 | 746 | 10 |
| Total other income (expense) | $ (97) | $ 441 | $ (487) |
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The aggregate amount of other income amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) profits on securities (net of losses), and (d) miscellaneous other income items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Related Party Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Mar. 09, 2015 |
Sep. 12, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
Jul. 01, 2015 |
Jul. 01, 2014 |
|
| Related Party Transaction [Line Items] | |||||||
| Total rental income | $ 261,887 | $ 246,078 | $ 242,757 | ||||
| Investment in WBW CHP LLC, in percentage | 47.70% | ||||||
| WBW CHP LLC | |||||||
| Related Party Transaction [Line Items] | |||||||
| Recovered reimbursements of operating expenses of WBW CHP LLC | $ 1,000 | $ 1,100 | $ 1,100 | ||||
| Common Stock | |||||||
| Related Party Transaction [Line Items] | |||||||
| Common shares issued (in shares) | 1,812,451 | 3,110,067 | 741,452 | ||||
| AAI Aviation, Inc. | Board of Directors Chairman | |||||||
| Related Party Transaction [Line Items] | |||||||
| Aviation expense | $ 200 | $ 100 | $ 100 | ||||
| Explorer Insurance Company | Private Placement | Board of Directors Chairman | |||||||
| Related Party Transaction [Line Items] | |||||||
| Common shares issued (in shares) | 200,000 | ||||||
| Share price (in dollars per share) | $ 40.54 | ||||||
| Gross proceeds from issuance of common stock | $ 8,100 | ||||||
| ICW Plaza | Board of Directors Chairman | |||||||
| Related Party Transaction [Line Items] | |||||||
| Total rental income | $ 2,200 | $ 2,200 | $ 2,200 | ||||
| Prepaid Insurance | $ 200 | $ 400 | |||||
| Percentage of ownership interests classified as noncontrolling | 33.60% | ||||||
| ICW Plaza | Common Stock | Board of Directors Chairman | |||||||
| Related Party Transaction [Line Items] | |||||||
| Percentage of ownership interests classified as noncontrolling | 10.10% | ||||||
| ICW Plaza | Member Units | Board of Directors Chairman | |||||||
| Related Party Transaction [Line Items] | |||||||
| Percentage of ownership interests classified as noncontrolling | 23.50% | ||||||
| ICW Plaza | Private Placement | Board of Directors Chairman | |||||||
| Related Party Transaction [Line Items] | |||||||
| Common shares issued (in shares) | 400,000 | ||||||
| Share price (in dollars per share) | $ 33.76 | ||||||
| Gross proceeds from issuance of common stock | $ 13,500 | ||||||
| X | ||||||||||
- Definition Amount recovered for reimbursements of operating expense for related party. No definition available.
|
| X | ||||||||||
- Definition Percentage of investment in related party. No definition available.
|
| X | ||||||||||
- Definition Proceeds from issuance of common stock before sales agent commission and offering costs No definition available.
|
| X | ||||||||||
- Definition The equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity. No definition available.
|
| X | ||||||||||
- Definition The total amount of revenue recognized for the period from operating leases, including minimum lease revenue, contingent revenue, percentage revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for insurance that provides economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Expenses recognized resulting from transactions (excluding transactions that are eliminated in consolidated or combined financial statements) with related party. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
|
| X | ||||||||||
- Definition Number of new stock issued during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Segment Reporting (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2015
Segment
Room
| |
| Segment Reporting [Abstract] | |
| Number of operating segments | Segment | 4 |
| Room in mixed-use segment all-suite hotel | Room | 369 |
| X | ||||||||||
- Definition Number of rooms in mixed use segment all suite hotel. No definition available.
|
| X | ||||||||||
- Definition Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
- References No definition available.
|
Segment Reporting Operating Activity Within Reportable Segments (Detail) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
Sep. 30, 2014 |
Jun. 30, 2014 |
Mar. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Segment Reporting Information [Line Items] | |||||||||||
| Operating income (loss) | $ 23,893 | $ 23,510 | $ 23,504 | $ 23,244 | $ 22,526 | $ 23,036 | $ 17,726 | $ 20,381 | $ 94,151 | $ 83,669 | $ 81,101 |
| Total segments' profit | 177,617 | 168,769 | 165,071 | ||||||||
| Total Retail | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Property revenue | 98,795 | 96,140 | 93,449 | ||||||||
| Property expense | (25,672) | (25,451) | (23,900) | ||||||||
| Operating income (loss) | 73,123 | 70,689 | 69,549 | ||||||||
| Total Office | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Property revenue | 97,651 | 92,474 | 90,527 | ||||||||
| Property expense | (28,843) | (27,003) | (26,688) | ||||||||
| Operating income (loss) | 68,808 | 65,471 | 63,839 | ||||||||
| Total Multifamily | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Property revenue | 19,455 | 16,976 | 16,125 | ||||||||
| Property expense | (8,334) | (6,099) | (5,917) | ||||||||
| Operating income (loss) | 11,121 | 10,877 | 10,208 | ||||||||
| Total Mixed-Use | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Property revenue | 59,722 | 54,410 | 54,956 | ||||||||
| Property expense | (35,157) | (32,678) | (33,481) | ||||||||
| Operating income (loss) | $ 24,565 | $ 21,732 | $ 21,475 | ||||||||
| X | ||||||||||
- Definition Property expenses. No definition available.
|
| X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition The aggregate revenue from real estate operations during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Segment Reporting Reconciliation of Segment Profit to Net Income Attributable to Stockholders (Details) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
Sep. 30, 2014 |
Jun. 30, 2014 |
Mar. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Segment Reporting [Abstract] | |||||||||||
| Total segments' profit | $ 177,617 | $ 168,769 | $ 165,071 | ||||||||
| General and administrative | (20,074) | (18,532) | (17,195) | ||||||||
| Depreciation and amortization | (63,392) | (66,568) | (66,775) | ||||||||
| Interest expense | 47,260 | 52,965 | 58,020 | ||||||||
| Gain on sale of real estate | 7,121 | 0 | 0 | ||||||||
| Other income (expense), net | (97) | 441 | (487) | ||||||||
| Net income | $ 11,226 | $ 19,026 | $ 12,284 | $ 11,379 | $ 10,046 | $ 9,090 | $ 5,351 | $ 6,658 | 53,915 | 31,145 | 22,594 |
| Net income attributable to restricted shares | (53) | (32) | (40) | (43) | (115) | (95) | (94) | (70) | (168) | (374) | (536) |
| Net income attributable to unitholders in the Operating Partnership | (2,961) | (5,432) | (3,536) | (3,309) | (2,907) | (2,578) | (1,544) | (1,986) | (15,238) | (9,015) | (6,838) |
| Net income attributable to American Assets Trust, L.P. unit holders | $ 8,212 | $ 13,562 | $ 8,708 | $ 8,027 | $ 7,024 | $ 6,417 | $ 3,713 | $ 4,602 | $ 38,509 | $ 21,756 | $ 15,220 |
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
|
| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The difference between the carrying value and the sale price of real estate or properties that were intended to be sold or held for capital appreciation or rental income. This element refers to the gain (loss) included in earnings and not to the cash proceeds of the sale. This element is a noncash adjustment to net income when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|
Segment Reporting Net Real Estate and Secured Note Payable Balances for Each Segment (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
||||||
| Segment Reporting Information [Line Items] | |||||||
| Net Real Estate | $ 1,834,862 | $ 1,775,400 | |||||
| Secured Notes Payable | [1] | 584,002 | 819,983 | ||||
| Capital Expenditures and Leasing Commissions | [2] | 138,635 | 149,772 | ||||
| Total Retail | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Net Real Estate | 638,893 | 639,456 | |||||
| Secured Notes Payable | 60,065 | 161,975 | |||||
| Capital Expenditures and Leasing Commissions | 7,393 | 8,671 | |||||
| Total Office | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Net Real Estate | 796,773 | 757,854 | |||||
| Secured Notes Payable | 292,183 | 426,254 | |||||
| Capital Expenditures and Leasing Commissions | 49,049 | 34,577 | |||||
| Total Multifamily | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Net Real Estate | 208,730 | 182,468 | |||||
| Secured Notes Payable | 101,444 | 101,444 | |||||
| Capital Expenditures and Leasing Commissions | 81,559 | 101,392 | |||||
| Total Mixed-Use | |||||||
| Segment Reporting Information [Line Items] | |||||||
| Net Real Estate | 190,466 | 195,622 | |||||
| Secured Notes Payable | 130,310 | 130,310 | |||||
| Capital Expenditures and Leasing Commissions | $ 634 | $ 5,132 | |||||
| |||||||
| X | ||||||||||
- Definition Capital Expenditures and Leasing Commissions No definition available.
|
| X | ||||||||||
- Definition Including the current and noncurrent portions, aggregate carrying amount of all types of notes payable, as of the balance sheet date, with initial maturities beyond one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of real estate investment property, net of accumulated depreciation, which may include the following: (1) land available-for-sale; (2) land available-for-development; (3) investments in building and building improvements; (4) tenant allowances; (5) developments in-process; (6) rental properties; and (7) other real estate investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Quarterly Financial Information (Unaudited) Selected Quarterly Information (Details) - USD ($) $ / shares in Units, $ in Thousands |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2014 |
Sep. 30, 2014 |
Jun. 30, 2014 |
Mar. 31, 2014 |
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
|
| Quarterly Financial Information [Line Items] | |||||||||||
| Total revenue | $ 71,530 | $ 71,289 | $ 66,769 | $ 66,035 | $ 66,478 | $ 67,343 | $ 62,199 | $ 63,980 | $ 275,623 | $ 260,000 | $ 255,057 |
| Operating income (loss) | 23,893 | 23,510 | 23,504 | 23,244 | 22,526 | 23,036 | 17,726 | 20,381 | 94,151 | 83,669 | 81,101 |
| Net income | 11,226 | 19,026 | 12,284 | 11,379 | 10,046 | 9,090 | 5,351 | 6,658 | 53,915 | 31,145 | 22,594 |
| Net income attributable to restricted shares | (53) | (32) | (40) | (43) | (115) | (95) | (94) | (70) | (168) | (374) | (536) |
| Net income attributable to unitholders in the Operating Partnership | (2,961) | (5,432) | (3,536) | (3,309) | (2,907) | (2,578) | (1,544) | (1,986) | (15,238) | (9,015) | (6,838) |
| Net income attributable to American Assets Trust, L.P. unit holders | $ 8,212 | $ 13,562 | $ 8,708 | $ 8,027 | $ 7,024 | $ 6,417 | $ 3,713 | $ 4,602 | 38,509 | 21,756 | 15,220 |
| Net income attributable to common stockholders - basic and diluted (in dollars per share) | $ 0.18 | $ 0.30 | $ 0.20 | $ 0.18 | $ 0.16 | $ 0.15 | $ 0.09 | $ 0.11 | |||
| American Assets Trust, L.P. | |||||||||||
| Quarterly Financial Information [Line Items] | |||||||||||
| Total revenue | $ 71,530 | $ 71,289 | $ 66,769 | $ 66,035 | $ 66,478 | $ 67,343 | $ 62,199 | $ 63,980 | 275,623 | 260,000 | 255,057 |
| Operating income (loss) | 23,893 | 23,510 | 23,504 | 23,244 | 22,526 | 23,036 | 17,726 | 20,381 | 94,151 | 83,669 | 81,101 |
| Net income | 11,226 | 19,026 | 12,284 | 11,379 | 10,046 | 9,090 | 5,351 | 6,658 | 53,915 | 31,145 | 22,594 |
| Net income attributable to restricted shares | (53) | (32) | (40) | (43) | (115) | (95) | (94) | (70) | (168) | (374) | (536) |
| Net income attributable to American Assets Trust, L.P. unit holders | $ 53,747 | $ 30,771 | $ 22,058 | ||||||||
| Net income attributable to American Assets Trust, L.P. unit holders | $ 11,173 | $ 18,994 | $ 12,244 | $ 11,336 | $ 9,931 | $ 8,995 | $ 5,257 | $ 6,588 | |||
| Net income attributable to common stockholders - basic and diluted (in dollars per share) | $ 0.18 | $ 0.30 | $ 0.20 | $ 0.18 | $ 0.16 | $ 0.15 | $ 0.09 | $ 0.11 | |||
| X | ||||||||||
- Definition Net income attributable to restricted share. No definition available.
|
| X | ||||||||||
- Definition [Line Items] for Quarterly Financial Information [Table] No definition available.
|
| X | ||||||||||
- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Aggregate amount of net income allocated to general partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount after tax of income (loss) attributable to redeemable noncontrolling partner in an operating partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
Subsequent Events (Details) - USD ($) |
12 Months Ended | |||
|---|---|---|---|---|
Mar. 01, 2016 |
Jan. 29, 2016 |
Dec. 31, 2015 |
Aug. 19, 2014 |
|
| Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedging | Subsequent Event | ||||
| Subsequent Event [Line Items] | ||||
| Notional amount | $ 100,000,000 | |||
| Fixed interest rate on derivative | 1.4485% | |||
| American Assets Trust, L.P. | Subsequent Event | Scenario, Forecast | Term Loan | ||||
| Subsequent Event [Line Items] | ||||
| Number of year amortization schedule | 7 years | |||
| American Assets Trust, L.P. | Interest Rate Swap | ||||
| Subsequent Event [Line Items] | ||||
| Term of derivative contract | 7 years | |||
| Notional amount | $ 150,000,000 | |||
| Fixed interest rate on derivative | 3.08% | 2.1305% | ||
| American Assets Trust, L.P. | Interest Rate Swap | Subsequent Event | ||||
| Subsequent Event [Line Items] | ||||
| Term of derivative contract | 7 years | |||
| American Assets Trust, L.P. | Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedging | ||||
| Subsequent Event [Line Items] | ||||
| Effective date | Jan. 09, 2014 | |||
| Notional amount | $ 100,000,000 | |||
| Maturity date | Jan. 09, 2019 | |||
| Fixed interest rate on derivative | 3.08% | |||
| American Assets Trust, L.P. | Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedging | Subsequent Event | ||||
| Subsequent Event [Line Items] | ||||
| Effective date | Mar. 01, 2016 | |||
| Maturity date | Mar. 01, 2023 |
| X | ||||||||||
- Definition Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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| X | ||||||||||
- Definition Fixed interest rate related to the interest rate derivative. No definition available.
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| X | ||||||||||
- Definition Date the entity entered into the derivative contract, in CCYY-MM-DD format. No definition available.
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- Definition Date the derivative contract matures, in CCYY-MM-DD format. No definition available.
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| X | ||||||||||
- Definition Period the derivative contract is outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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| X | ||||||||||
- Definition Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. No definition available.
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SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2015 |
Sep. 30, 2015 |
Dec. 31, 2014 |
Dec. 31, 2013 |
Dec. 31, 2012 |
|
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 584,002 | ||||
| Initial Cost, Land | 453,567 | ||||
| Initial Cost, Building and Improvements | 1,191,344 | ||||
| Cost Capitalized Subsequent to Acquisition | 601,117 | ||||
| Gross Carrying Amount, Land | 490,494 | ||||
| Gross Carrying Amount, Building and Improvements | 1,755,534 | ||||
| Accumulated Depreciation and Amortization | (411,166) | $ (361,424) | $ (318,581) | $ (270,494) | |
| The Aggregate tax basis for Federal tax purposes | $ 1,600,000 | ||||
| Alamo Quarry Market | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | 0 | ||||
| Initial Cost, Land | 26,396 | ||||
| Initial Cost, Building and Improvements | 109,294 | ||||
| Cost Capitalized Subsequent to Acquisition | 13,181 | ||||
| Gross Carrying Amount, Land | 26,816 | ||||
| Gross Carrying Amount, Building and Improvements | 122,055 | ||||
| Accumulated Depreciation and Amortization | $ (45,920) | ||||
| Year Built/ Renovated | 1997/1999 | ||||
| Date Acquired | Dec. 09, 2003 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| Carmel Country Plaza | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 4,200 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 11,759 | ||||
| Gross Carrying Amount, Land | 4,200 | ||||
| Gross Carrying Amount, Building and Improvements | 11,759 | ||||
| Accumulated Depreciation and Amortization | $ (7,210) | ||||
| Year Built/ Renovated | 1991 | ||||
| Date Acquired | Jan. 10, 1989 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| Carmel Mountain Plaza | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 22,477 | ||||
| Initial Cost, Building and Improvements | 65,217 | ||||
| Cost Capitalized Subsequent to Acquisition | 26,896 | ||||
| Gross Carrying Amount, Land | 31,035 | ||||
| Gross Carrying Amount, Building and Improvements | 83,555 | ||||
| Accumulated Depreciation and Amortization | $ (31,794) | ||||
| Year Built/ Renovated | 1994/2014 | ||||
| Date Acquired | Mar. 28, 2003 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| Del Monte Center | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 27,412 | ||||
| Initial Cost, Building and Improvements | 87,570 | ||||
| Cost Capitalized Subsequent to Acquisition | 22,949 | ||||
| Gross Carrying Amount, Land | 27,117 | ||||
| Gross Carrying Amount, Building and Improvements | 110,814 | ||||
| Accumulated Depreciation and Amortization | $ (49,887) | ||||
| Year Built/ Renovated | 1967/1984/2006 | ||||
| Date Acquired | Apr. 08, 2004 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| Geary Marketplace | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 8,239 | ||||
| Initial Cost, Building and Improvements | 12,353 | ||||
| Cost Capitalized Subsequent to Acquisition | 165 | ||||
| Gross Carrying Amount, Land | 8,238 | ||||
| Gross Carrying Amount, Building and Improvements | 12,519 | ||||
| Accumulated Depreciation and Amortization | $ (1,222) | ||||
| Year Built/ Renovated | 2012 | ||||
| Date Acquired | Dec. 19, 2012 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| Lomas Santa Fe Plaza | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 8,600 | ||||
| Initial Cost, Building and Improvements | 11,282 | ||||
| Cost Capitalized Subsequent to Acquisition | 11,873 | ||||
| Gross Carrying Amount, Land | 8,620 | ||||
| Gross Carrying Amount, Building and Improvements | 23,135 | ||||
| Accumulated Depreciation and Amortization | $ (13,874) | ||||
| Year Built/ Renovated | 1972/1997 | ||||
| Date Acquired | Jun. 12, 1995 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| The Shops at Kalakaua | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 13,993 | ||||
| Initial Cost, Building and Improvements | 10,817 | ||||
| Cost Capitalized Subsequent to Acquisition | 100 | ||||
| Gross Carrying Amount, Land | 14,006 | ||||
| Gross Carrying Amount, Building and Improvements | 10,904 | ||||
| Accumulated Depreciation and Amortization | $ (3,576) | ||||
| Year Built/ Renovated | 1971/2006 | ||||
| Date Acquired | Mar. 31, 2005 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| Solana Beach Towne Centre | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 37,065 | ||||
| Initial Cost, Land | 40,980 | ||||
| Initial Cost, Building and Improvements | 38,842 | ||||
| Cost Capitalized Subsequent to Acquisition | 2,175 | ||||
| Gross Carrying Amount, Land | 40,980 | ||||
| Gross Carrying Amount, Building and Improvements | 41,017 | ||||
| Accumulated Depreciation and Amortization | $ (6,652) | ||||
| Year Built/ Renovated | 1973/2000/2004 | ||||
| Date Acquired | Jan. 19, 2011 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| South Bay Marketplace | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 23,000 | ||||
| Initial Cost, Land | 4,401 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 10,774 | ||||
| Gross Carrying Amount, Land | 4,401 | ||||
| Gross Carrying Amount, Building and Improvements | 10,774 | ||||
| Accumulated Depreciation and Amortization | $ (6,396) | ||||
| Year Built/ Renovated | 1997 | ||||
| Date Acquired | Sep. 16, 1995 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| Waikele Center | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 55,593 | ||||
| Initial Cost, Building and Improvements | 126,858 | ||||
| Cost Capitalized Subsequent to Acquisition | 59,449 | ||||
| Gross Carrying Amount, Land | 70,643 | ||||
| Gross Carrying Amount, Building and Improvements | 171,257 | ||||
| Accumulated Depreciation and Amortization | $ (56,553) | ||||
| Year Built/ Renovated | 1993/2008 | ||||
| Date Acquired | Sep. 16, 2004 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| City Center Bellevue | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 111,000 | ||||
| Initial Cost, Land | 25,135 | ||||
| Initial Cost, Building and Improvements | 190,998 | ||||
| Cost Capitalized Subsequent to Acquisition | 16,889 | ||||
| Gross Carrying Amount, Land | 25,135 | ||||
| Gross Carrying Amount, Building and Improvements | 207,887 | ||||
| Accumulated Depreciation and Amortization | $ (22,444) | ||||
| Year Built/ Renovated | 1987 | ||||
| Date Acquired | Aug. 21, 2012 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| First & Main | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 84,500 | ||||
| Initial Cost, Land | 14,697 | ||||
| Initial Cost, Building and Improvements | 109,739 | ||||
| Cost Capitalized Subsequent to Acquisition | 5,704 | ||||
| Gross Carrying Amount, Land | 14,697 | ||||
| Gross Carrying Amount, Building and Improvements | 115,443 | ||||
| Accumulated Depreciation and Amortization | $ (17,262) | ||||
| Year Built/ Renovated | 2010 | ||||
| Date Acquired | Mar. 11, 2011 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| The Land Mark at One Market | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 34,575 | ||||
| Initial Cost, Building and Improvements | 141,196 | ||||
| Cost Capitalized Subsequent to Acquisition | 7,817 | ||||
| Gross Carrying Amount, Land | 34,575 | ||||
| Gross Carrying Amount, Building and Improvements | 149,013 | ||||
| Accumulated Depreciation and Amortization | $ (25,437) | ||||
| Year Built/ Renovated | 1917/2000 | ||||
| Date Acquired | Jun. 30, 2010 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Lloyd District Portfolio | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 18,660 | ||||
| Initial Cost, Building and Improvements | 61,401 | ||||
| Cost Capitalized Subsequent to Acquisition | 62,580 | ||||
| Gross Carrying Amount, Land | 12,461 | ||||
| Gross Carrying Amount, Building and Improvements | 130,180 | ||||
| Accumulated Depreciation and Amortization | $ (12,360) | ||||
| Year Built/ Renovated | 1940-2011/present | ||||
| Date Acquired | Jul. 01, 2011 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| One Beach Street | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 21,900 | ||||
| Initial Cost, Land | 15,332 | ||||
| Initial Cost, Building and Improvements | 18,017 | ||||
| Cost Capitalized Subsequent to Acquisition | 2,349 | ||||
| Gross Carrying Amount, Land | 15,332 | ||||
| Gross Carrying Amount, Building and Improvements | 20,366 | ||||
| Accumulated Depreciation and Amortization | $ (2,666) | ||||
| Year Built/ Renovated | 1924/1972/1987/1992 | ||||
| Date Acquired | Jan. 24, 2012 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Solana Beach Corporate Centre I-II | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 11,119 | ||||
| Initial Cost, Land | 7,111 | ||||
| Initial Cost, Building and Improvements | 17,100 | ||||
| Cost Capitalized Subsequent to Acquisition | 3,616 | ||||
| Gross Carrying Amount, Land | 7,111 | ||||
| Gross Carrying Amount, Building and Improvements | 20,716 | ||||
| Accumulated Depreciation and Amortization | $ (3,235) | ||||
| Year Built/ Renovated | 1982/2005 | ||||
| Date Acquired | Jan. 19, 2011 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Solana Beach Corporate Centre III-IV | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 35,920 | ||||
| Initial Cost, Land | 7,298 | ||||
| Initial Cost, Building and Improvements | 27,887 | ||||
| Cost Capitalized Subsequent to Acquisition | 1,896 | ||||
| Gross Carrying Amount, Land | 7,298 | ||||
| Gross Carrying Amount, Building and Improvements | 29,783 | ||||
| Accumulated Depreciation and Amortization | $ (4,763) | ||||
| Year Built/ Renovated | 1982/2005 | ||||
| Date Acquired | Jan. 19, 2011 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Solana Beach Corporate Centre Land | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 487 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 60 | ||||
| Gross Carrying Amount, Land | 547 | ||||
| Gross Carrying Amount, Building and Improvements | 0 | ||||
| Accumulated Depreciation and Amortization | $ 0 | ||||
| Year Built/ Renovated | N/A | ||||
| Date Acquired | Jan. 19, 2011 | ||||
| ICW Plaza | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 4,095 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 41,128 | ||||
| Gross Carrying Amount, Land | 5,408 | ||||
| Gross Carrying Amount, Building and Improvements | 39,815 | ||||
| Accumulated Depreciation and Amortization | $ (11,998) | ||||
| Year Built/ Renovated | 1996-1997/2014 | ||||
| Date Acquired | Jun. 06, 1989 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Pacific North Court | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 20,749 | ||||
| Initial Cost, Land | 3,263 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 21,217 | ||||
| Gross Carrying Amount, Land | 4,309 | ||||
| Gross Carrying Amount, Building and Improvements | 20,171 | ||||
| Accumulated Depreciation and Amortization | $ (9,592) | ||||
| Year Built/ Renovated | 1997-1998 | ||||
| Date Acquired | Jun. 06, 1989 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Pacific South Court | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 3,285 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 32,054 | ||||
| Gross Carrying Amount, Land | 4,226 | ||||
| Gross Carrying Amount, Building and Improvements | 31,113 | ||||
| Accumulated Depreciation and Amortization | $ (10,927) | ||||
| Year Built/ Renovated | 1996-1997 | ||||
| Date Acquired | Jun. 06, 1989 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Pacific VC | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 6,995 | ||||
| Initial Cost, Land | 1,413 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 8,251 | ||||
| Gross Carrying Amount, Land | 2,148 | ||||
| Gross Carrying Amount, Building and Improvements | 7,516 | ||||
| Accumulated Depreciation and Amortization | $ (4,252) | ||||
| Year Built/ Renovated | 1998/2000 | ||||
| Date Acquired | Jun. 06, 1989 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Pacific Torrey Daycare | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 715 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 1,685 | ||||
| Gross Carrying Amount, Land | 911 | ||||
| Gross Carrying Amount, Building and Improvements | 1,489 | ||||
| Accumulated Depreciation and Amortization | $ (801) | ||||
| Year Built/ Renovated | 1996-1997 | ||||
| Date Acquired | Jun. 06, 1989 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Torrey Reserve Building 6 | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 0 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 7,945 | ||||
| Gross Carrying Amount, Land | 682 | ||||
| Gross Carrying Amount, Building and Improvements | 7,263 | ||||
| Accumulated Depreciation and Amortization | $ (588) | ||||
| Year Built/ Renovated | 2013 | ||||
| Date Acquired | Jun. 06, 1989 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Torrey Reserve Building 5 | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 0 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 3,468 | ||||
| Gross Carrying Amount, Land | 1,017 | ||||
| Gross Carrying Amount, Building and Improvements | 2,451 | ||||
| Accumulated Depreciation and Amortization | $ (31) | ||||
| Year Built/ Renovated | 2015 | ||||
| Date Acquired | Jun. 06, 1989 | ||||
| Life on which depreciation in latest income statements is computed | 40 years | ||||
| Torrey Reserve Land | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 229 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 11,266 | ||||
| Gross Carrying Amount, Land | 2,188 | ||||
| Gross Carrying Amount, Building and Improvements | 9,307 | ||||
| Accumulated Depreciation and Amortization | $ 0 | ||||
| Year Built/ Renovated | 2014-present | ||||
| Date Acquired | Jun. 06, 1989 | ||||
| Imperial Beach Gardens | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 20,000 | ||||
| Initial Cost, Land | 1,281 | ||||
| Initial Cost, Building and Improvements | 4,820 | ||||
| Cost Capitalized Subsequent to Acquisition | 4,400 | ||||
| Gross Carrying Amount, Land | 1,281 | ||||
| Gross Carrying Amount, Building and Improvements | 9,220 | ||||
| Accumulated Depreciation and Amortization | $ (7,793) | ||||
| Year Built/ Renovated | 1959/2008 | ||||
| Date Acquired | Jul. 31, 1985 | ||||
| Life on which depreciation in latest income statements is computed | 30 years | ||||
| Loma Palisades | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 73,744 | ||||
| Initial Cost, Land | 14,000 | ||||
| Initial Cost, Building and Improvements | 16,570 | ||||
| Cost Capitalized Subsequent to Acquisition | 18,539 | ||||
| Gross Carrying Amount, Land | 14,051 | ||||
| Gross Carrying Amount, Building and Improvements | 35,058 | ||||
| Accumulated Depreciation and Amortization | $ (24,954) | ||||
| Year Built/ Renovated | 1958/2001-2008 | ||||
| Date Acquired | Jul. 20, 1990 | ||||
| Life on which depreciation in latest income statements is computed | 30 years | ||||
| Mariner's Point | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 7,700 | ||||
| Initial Cost, Land | 2,744 | ||||
| Initial Cost, Building and Improvements | 4,540 | ||||
| Cost Capitalized Subsequent to Acquisition | 1,234 | ||||
| Gross Carrying Amount, Land | 2,744 | ||||
| Gross Carrying Amount, Building and Improvements | 5,774 | ||||
| Accumulated Depreciation and Amortization | $ (2,712) | ||||
| Year Built/ Renovated | 1986 | ||||
| Date Acquired | May 09, 2001 | ||||
| Life on which depreciation in latest income statements is computed | 30 years | ||||
| Santa Fe Park Rv Resort | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 401 | ||||
| Initial Cost, Building and Improvements | 928 | ||||
| Cost Capitalized Subsequent to Acquisition | 824 | ||||
| Gross Carrying Amount, Land | 401 | ||||
| Gross Carrying Amount, Building and Improvements | 1,752 | ||||
| Accumulated Depreciation and Amortization | $ (1,430) | ||||
| Year Built/ Renovated | 1971/2007-2008 | ||||
| Date Acquired | Jun. 01, 1979 | ||||
| Life on which depreciation in latest income statements is computed | 30 years | ||||
| Hassalo on Eighth - Residential | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 0 | ||||
| Initial Cost, Building and Improvements | 0 | ||||
| Cost Capitalized Subsequent to Acquisition | 177,074 | ||||
| Gross Carrying Amount, Land | 6,220 | ||||
| Gross Carrying Amount, Building and Improvements | 170,854 | ||||
| Accumulated Depreciation and Amortization | $ (1,738) | ||||
| Year Built/ Renovated | 2015 | ||||
| Date Acquired | Jul. 01, 2011 | ||||
| Life on which depreciation in latest income statements is computed | 30 years | ||||
| Waikiki Beach Walk - Retail | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 130,310 | ||||
| Initial Cost, Land | 45,995 | ||||
| Initial Cost, Building and Improvements | 74,943 | ||||
| Cost Capitalized Subsequent to Acquisition | 209 | ||||
| Gross Carrying Amount, Land | 45,995 | ||||
| Gross Carrying Amount, Building and Improvements | 75,152 | ||||
| Accumulated Depreciation and Amortization | $ (11,690) | ||||
| Year Built/ Renovated | 2006 | ||||
| Date Acquired | Jan. 19, 2011 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| Waikiki Beach Walk Hotel | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 30,640 | ||||
| Initial Cost, Building and Improvements | 60,029 | ||||
| Cost Capitalized Subsequent to Acquisition | 595 | ||||
| Gross Carrying Amount, Land | 30,640 | ||||
| Gross Carrying Amount, Building and Improvements | 60,624 | ||||
| Accumulated Depreciation and Amortization | $ (10,256) | ||||
| Year Built/ Renovated | 2008/2014 | ||||
| Date Acquired | Jan. 19, 2011 | ||||
| Life on which depreciation in latest income statements is computed | 35 years | ||||
| Solana Beach Highway 101 Land | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 7,847 | ||||
| Initial Cost, Building and Improvements | 202 | ||||
| Cost Capitalized Subsequent to Acquisition | 867 | ||||
| Gross Carrying Amount, Land | 8,916 | ||||
| Gross Carrying Amount, Building and Improvements | 0 | ||||
| Accumulated Depreciation and Amortization | $ (189) | ||||
| Year Built/ Renovated | N/A | ||||
| Date Acquired | Sep. 20, 2011 | ||||
| Torrey Point | |||||
| Real Estate and Accumulated Depreciation [Line Items] | |||||
| Encumbrance as of December 31, 2015 | $ 0 | ||||
| Initial Cost, Land | 2,073 | ||||
| Initial Cost, Building and Improvements | 741 | ||||
| Cost Capitalized Subsequent to Acquisition | 10,129 | ||||
| Gross Carrying Amount, Land | 6,145 | ||||
| Gross Carrying Amount, Building and Improvements | 6,798 | ||||
| Accumulated Depreciation and Amortization | $ (964) | ||||
| Year Built/ Renovated | N/A | ||||
| Date Acquired | May 09, 1997 |
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- Definition Real Estate and Accumulated Depreciation Year Built or Renovated No definition available.
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- Definition Amount of accumulated depreciation pertaining to real estate investments for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount before accumulated depreciation of buildings and improvements for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of land for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of carrying costs of properties that were capitalized after acquisition, for example, but not limited to, real estate taxes and insurance for entities with a substantial portion of business acquiring and holding investment real estate. Excludes initial purchase price and improvements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Initial cost of land for entities with a substantial portion of business acquiring and holding investment real estate. Excludes real estate not held as an investment or interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Useful life on which depreciation was computed for entities with a substantial portion of business acquiring and holding investment real estate, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Cost basis of real estate investments for federal income tax purposes for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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SCHEDULE III-Consolidated Real Estate and Accumulated Depreciation Rollforward (Details) - USD ($) $ in Thousands |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2015 |
Dec. 31, 2014 |
Dec. 31, 2012 |
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| Real estate assets | ||||||
| Balance, beginning of period | $ 2,136,824 | $ 1,995,417 | ||||
| Improvements | 119,719 | 154,594 | $ 60,677 | |||
| Cost of Real Estate Sold | (7,396) | 0 | 0 | |||
| Other | [1] | (3,119) | (13,187) | (3,936) | ||
| Balance, end of period | 2,246,028 | 2,136,824 | 1,938,676 | |||
| Accumulated depreciation | ||||||
| Balance, beginning of period | 361,424 | 318,581 | ||||
| Additions-depreciation | 54,534 | 55,159 | 51,949 | |||
| Cost of Real Estate Sold | (2,334) | 0 | 0 | |||
| Other | [1] | (2,458) | (12,316) | (3,862) | ||
| Balance, end of period | $ 411,166 | $ 361,424 | $ 270,494 | |||
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- Definition Amount of accumulated depreciation pertaining to real estate investments for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of other deductions to accumulated depreciation, excluding sales, for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of decrease to accumulated depreciation for real estate investments sold for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of real estate investments sold for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, before accumulated depreciation, of real estate investments for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase in real estate investments related to improvements for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of other deductions to real estate investments, excluding sales, for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition Amount of depreciation expense of real estate investments for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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