American Assets Trust, Inc.
For the period ended Dec 31, 2025. Filed Feb 6, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Feb 6, 2026
AAT$21.55-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Schedule III—Consolidated Real Estate and Accumulated Depreciation F-
SCHEDULE III—Consolidated Real Estate and Accumulated Depreciation
| Encumbrance as of December 31, 2025 · Initial Cost · Cost Capitalized Subsequent to Acquisition · Gross Carrying Amountat December 31, 2025 · AccumulatedDepreciation andAmortization · Year Built/Most Recent Renovation · Date Acquired · Life on which depreciation in latest income statements is computed | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Description · Land · Building andImprovements · Land · Building andImprovements | ||||||||||
| Alamo Quarry Market | $— | $26,396 | $109,294 | $40,803 | $26,816 | $149,677 | $(87,378) | 1997/1999 | 12/9/2003 | 35 years |
| Carmel Country Plaza | — | 4,200 | — | 15,449 | 4,200 | 15,449 | (11,208) | 1991 | 1/10/1989 | 35 years |
| Carmel Mountain Plaza | — | 22,477 | 65,217 | 43,814 | 31,034 | 100,474 | (63,784) | 1994/2020 | 3/28/2003 | 35 years |
| Gateway Marketplace | — | 17,363 | 21,644 | 973 | 17,363 | 22,617 | (6,894) | 1997/2016 | 7/6/2017 | 35 years |
| Geary Marketplace | — | 8,239 | 12,353 | 381 | 8,239 | 12,734 | (5,199) | 2012 | 12/19/2012 | 35 years |
| Hassalo on Eighth - Retail | — | — | — | 27,915 | 597 | 27,318 | (12,345) | 2015 | 7/1/2011 | 35 years |
| Lomas Santa Fe Plaza | — | 8,600 | 11,282 | 14,863 | 8,620 | 26,125 | (21,595) | 1972/1997 | 6/12/1995 | 35 years |
| The Shops at Kalakaua | — | 13,993 | 10,817 | 157 | 14,006 | 10,961 | (6,671) | 1971/2006 | 3/31/2005 | 35 years |
| Solana Beach Towne Centre | — | 40,980 | 38,842 | 5,952 | 40,980 | 44,794 | (20,649) | 1973/2004 | 1/19/2011 | 35 years |
| South Bay Marketplace | — | 4,401 | — | 13,040 | 4,401 | 13,040 | (9,922) | 1997/2018 | 9/16/1995 | 35 years |
| Waikele Center | — | 55,593 | 126,858 | 45,007 | 70,644 | 156,814 | (91,524) | 1993/2008 | 9/16/2004 | 35 years |
| City Center Bellevue | 75,000 | 25,135 | 190,998 | 60,922 | 25,135 | 251,920 | (101,706) | 1987/2023 | 8/21/2012 | 40 years |
| 14Acres | — | 35,822 | 82,737 | 21,380 | 35,822 | 104,117 | (14,104) | 1985/2024 | 7/7/2021 | 40 years |
| Timber Ridge | — | 23,203 | 55,992 | 6,690 | 23,203 | 62,682 | (9,479) | 1986 | 9/10/2021 | 40 years |
| Timber Springs | — | 13,744 | 30,339 | 3,753 | 13,744 | 34,092 | (4,492) | 1983 | 3/8/2022 | 40 years |
| First & Main | — | 14,697 | 109,739 | 14,211 | 14,697 | 123,950 | (51,873) | 2010 | 3/11/2011 | 40 years |
| The Landmark at One Market | — | 34,575 | 141,196 | 36,478 | 34,575 | 177,674 | (77,190) | 1917/2000 | 6/30/2010 | 40 years |
| Lloyd Portfolio | — | 18,660 | 61,401 | 114,049 | 11,845 | 182,265 | (80,428) | 1940/2022 | 7/1/2011 | 40 years |
| One Beach Street | — | 15,332 | 18,017 | 44,005 | 15,332 | 62,022 | (6,610) | 1924/2024 | 1/24/2012 | 40 years |
| Solana Crossing: | ||||||||||
| Solana Crossing I-II | — | 7,111 | 17,100 | 12,685 | 7,111 | 29,785 | (11,674) | 1982/2022 | 1/19/2011 | 40 years |
| Solana Crossing III-IV | — | 7,298 | 27,887 | 12,690 | 7,298 | 40,577 | (15,805) | 1982/2022 | 1/19/2011 | 40 years |
| Solana Crossing Land | — | 487 | — | — | 487 | — | — | N/A | 1/19/2011 | N/A |
| Coastal Collection at Torrey Reserve: | ||||||||||
| Torrey Plaza | — | 4,095 | — | 63,850 | 5,408 | 62,537 | (31,711) | 1996-1997/2014 | 6/6/1989 | 40 years |
| Pacific North Court | — | 3,263 | — | 40,589 | 4,309 | 39,543 | (20,376) | 1997-1998 | 6/6/1989 | 40 years |
| Pacific South Court | — | 3,285 | — | 39,829 | 4,226 | 38,888 | (21,452) | 1996-1997 | 6/6/1989 | 40 years |
| Pacific VC | — | 1,413 | — | 10,939 | 2,148 | 10,204 | (7,349) | 1998-2000 | 6/6/1989 | 40 years |
| Pacific Torrey Daycare | — | 715 | — | 1,990 | 911 | 1,794 | (1,266) | 1996-1997 | 6/6/1989 | 40 years |
| Coastal Collection at Torrey Reserve Building 6 | — | — | — | 6,886 | 682 | 6,204 | (2,076) | 2013 | 6/6/1989 | 40 years |
| Coastal Collection at Torrey Reserve Building 5 | — | — | — | 4,403 | 1,017 | 3,386 | (714) | 2014 | 6/6/1989 | 40 years |
| Coastal Collection at Torrey Reserve Building 13 & 14 | — | — | — | 16,668 | 2,188 | 14,480 | (6,193) | 2015 | 6/6/1989 | 40 years |
| Torrey Point | — | 2,073 | 741 | 49,864 | 5,050 | 47,628 | (14,282) | 2018 | 5/9/1997 | 40 years |
| La Jolla Commons | ||||||||||
| La Jolla Commons I-II | — | 62,312 | 393,662 | 28,683 | 62,312 | 422,345 | (86,665) | 2008 | 6/20/2019 | 40 years |
| La Jolla Commons III | — | 20,446 | — | 141,862 | 20,446 | 141,862 | (3,141) | 2025 | 6/20/2019 | 40 years |
| Imperial Beach Gardens | — | 1,281 | 4,820 | 8,767 | 1,281 | 13,587 | (9,226) | 1959/2023 | 7/31/1985 | 30 years |
SCHEDULE III—Consolidated Real Estate and Accumulated Depreciation
| Encumbrance as of December 31, 2025 · Initial Cost · Cost Capitalized Subsequent to Acquisition · Gross Carrying Amountat December 31, 2025 · AccumulatedDepreciation andAmortization · Year Built/Most Recent Renovation · Date Acquired · Life on which depreciation in latest income statements is computed | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Description · Land · Building andImprovements · Land · Building andImprovements | ||||||||||
| Loma Palisades | — | 14,000 | 16,570 | 40,361 | 14,052 | 56,879 | (36,258) | 1958/2022 | 7/20/1990 | 30 years |
| Mariner’s Point | — | 2,744 | 4,540 | 2,191 | 2,744 | 6,731 | (4,790) | 1986 | 5/9/2001 | 30 years |
| Santa Fe Park RV Resort | — | 401 | 928 | 1,584 | 401 | 2,512 | (1,822) | 1971/2008 | 6/1/1979 | 30 years |
| Pacific Ridge Apartments | — | 47,971 | 178,497 | 1,523 | 47,971 | 180,020 | (54,769) | 2013 | 4/28/2017 | 30 years |
| Genesee Park | — | 27,125 | 39,532 | 2,423 | 27,125 | 41,955 | (1,166) | 1983 | 2/28/2025 | 30 years |
| Hassalo on Eighth - Multifamily | — | — | — | 177,817 | 6,219 | 171,598 | (58,881) | 2015 | 7/1/2011 | 30 years |
| Waikiki Beach Walk: | ||||||||||
| Retail | — | 45,995 | 74,943 | 2,547 | 45,995 | 77,490 | (34,347) | 2006 | 1/19/2011 | 35 years |
| Hotel | — | 30,640 | 60,029 | 13,594 | 30,640 | 73,623 | (37,245) | 2008/2020 | 1/19/2011 | 35 years |
| $75,000 | $666,065 | $1,905,975 | $1,191,587 | $701,274 | $3,062,353 | $(1,144,259) | ||||
(1) For Federal tax purposes, the aggregate tax basis is approximately $2.5 billion as of December 31, 2025.
SCHEDULE III—Consolidated Real Estate and Accumulated Depreciation -(Continued)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Real estate assets | |||
| Balance, beginning of period | $3,626,364 | 3,741,768 | 3,671,469 |
| Additions: | |||
| Property acquisitions | 66,657 | — | — |
| Improvements | 80,631 | 68,484 | 78,249 |
| Deductions: | |||
| Real estate assets held for sale | — | (154,134) | — |
| Other (1) | (10,025) | (29,754) | (7,950) |
| Balance, end of period | $3,763,627 | $3,626,364 | $3,741,768 |
| Accumulated depreciation | |||
| Balance, beginning of period | $1,038,878 | $1,036,453 | $936,913 |
| Additions—depreciation | 113,109 | 111,727 | 106,306 |
| Deductions: | |||
| Real estate assets held for sale | — | (80,435) | — |
| Other (2) | (7,728) | (28,867) | (6,766) |
| Balance, end of period | $1,144,259 | $1,038,878 | $1,036,453 |
(1)Other deductions for the years ended December 31, 2025, 2024 and 2023 represent the write-off of fully depreciated assets and certain incomplete development costs written off.
(2)Other deductions for the years ended December 31, 2025, 2024 and 2023 represent the write-off of fully depreciated assets.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.