Acquisition Criteria

American Assets Trust, Inc. (“AAT”) primarily seeks acquisition opportunities of irreplaceable high-quality neighborhood and community shopping centers and multi-family projects, preferably with expansion, redevelopment and lease-up/re-leasing potential, located in proven, regional trade areas within our coastal west coast target markets. Additionally, AAT is willing to evaluate portfolio transactions generally consistent with the criteria set forth herein.

 

American Assets Trust, Inc. (“AAT”) primarily seeks acquisition opportunities of irreplaceable high-quality neighborhood and community shopping centers and multi-family projects, preferably with expansion, redevelopment and lease-up/re-leasing potential, located in proven, regional trade areas within our coastal west coast target markets. Additionally, AAT is willing to evaluate portfolio transactions generally consistent with the criteria set forth herein.

Locations

AAT seeks acquisition opportunities in the following geographic areas:

Northern California

San Francisco County
Santa Clara County
San Mateo County
Alameda County

Southern California

Los Angeles County (West LA)
Orange County
San Diego County

Oregon

Multnomah County
Washington County
Clackamas County

Washington

King County (Seattle, Bellevue)

Hawaii

Honolulu County

Criteria

Demographics

Minimum of 50,000 people within a 3-mile radius and/or annual household income of $100,000 within 3-mile radius.

GLA

Minimum of 100,000 square feet for neighborhood and community shopping centers and 100 units for a multi-family project. Preference to not acquire “big box” retail centers.

Investment

Minimum of $30 million. AAT will consider assuming existing loans and offers OP unit structures to defer capital gains taxes of seller.

Acquired Properties since 2011 IPO

Gateway Marketplace
Gateway Marketplace
San Diego, California
Retail

Acquired: July 2017
Sq Ft: 127,861

Pacific Ridge Apartments
Pacific Ridge Apartments
San Diego, California
Multifamily

Acquired: April 2017
Units: 533

Geary Marketplace
Geary Marketplace
Walnut Creek, California
Retail

Acquired: December 2012
Sq Ft: 35,156

City Center Bellevue
City Center Bellevue
Bellevue, Washington
Office

Acquired: August 2012
Sq Ft: 497,076

One Beach Street
One Beach Street
San Francisco, California
Office

Acquired: January 2012
Sq Ft: 97,614

Lloyd District Portfolio
Lloyd District Portfolio
Portland, Oregon
3 Office properties

Acquired: July 2011
Sq Ft: 588,397

First & Main
First & Main
Portland, Oregon
Office

Acquired: March 2011
Sq Ft: 364,735