XML 61 R48.htm IDEA: XBRL DOCUMENT v3.7.0.1
DEBT - Summary of Total Unsecured Notes Payable Outstanding (Details) - American Assets Trust, L.P.
$ in Thousands
3 Months Ended
Mar. 01, 2017
Jan. 18, 2017
USD ($)
Apr. 07, 2016
Mar. 29, 2016
Sep. 19, 2014
USD ($)
Aug. 19, 2014
Mar. 31, 2017
USD ($)
Extension_Option
Dec. 31, 2016
USD ($)
Interest Rate Swap                
Debt Instrument [Line Items]                
Derivative contract term     10 years 10 years        
Forward Contracts                
Debt Instrument [Line Items]                
Derivative contract term           7 years    
Gain on derivative settlement   $ 10,400     $ 1,600      
Unsecured term loans, net                
Debt Instrument [Line Items]                
Long-term Debt, Principal Balance             $ 850,000 $ 600,000
Debt issuance costs, net             (5,248) (3,650)
Total Debt Outstanding             844,752 596,350
Debt issuance costs, accumulated amortization             $ 4,675 4,317
Term Loan A                
Debt Instrument [Line Items]                
Debt extension options | Extension_Option             1  
Term Loan A | Interest Rate Swap                
Debt Instrument [Line Items]                
Derivative fixed interest rate (in percent)             3.08%  
Term Loan A | Unsecured term loans, net                
Debt Instrument [Line Items]                
Stated Maturity Date [1]             Jan. 09, 2019  
Long-term Debt, Principal Balance             $ 100,000 100,000
Senior Guaranteed Notes, Series A | Forward Contracts                
Debt Instrument [Line Items]                
Effective rate of debt instrument (in percent)             3.88%  
Senior Guaranteed Notes, Series A | Unsecured term loans, net                
Debt Instrument [Line Items]                
Stated Interest Rate [2]             4.04%  
Stated Maturity Date             Oct. 31, 2021  
Long-term Debt, Principal Balance             $ 150,000 150,000
Senior Guaranteed Notes, Series B | Unsecured term loans, net                
Debt Instrument [Line Items]                
Stated Interest Rate             4.45%  
Stated Maturity Date             Feb. 02, 2025  
Long-term Debt, Principal Balance             $ 100,000 100,000
Senior Guaranteed Notes, Series C | Unsecured term loans, net                
Debt Instrument [Line Items]                
Stated Interest Rate             4.50%  
Stated Maturity Date             Apr. 01, 2025  
Long-term Debt, Principal Balance             $ 100,000 100,000
Term Loan B | Interest Rate Swap                
Debt Instrument [Line Items]                
Derivative fixed interest rate (in percent)             3.15%  
Term Loan B | Unsecured term loans, net                
Debt Instrument [Line Items]                
Stated Maturity Date             Mar. 01, 2023  
Long-term Debt, Principal Balance             $ 100,000 100,000
Term Loan C | Interest Rate Swap                
Debt Instrument [Line Items]                
Derivative fixed interest rate (in percent)             3.14%  
Term Loan C | Unsecured term loans, net                
Debt Instrument [Line Items]                
Stated Maturity Date             Mar. 01, 2023  
Long-term Debt, Principal Balance             $ 50,000 50,000
Senior Guaranteed Notes, Series D                
Debt Instrument [Line Items]                
Stated Maturity Date Mar. 01, 2027              
Senior Guaranteed Notes, Series D | Forward Contracts                
Debt Instrument [Line Items]                
Effective rate of debt instrument (in percent)             3.87%  
Senior Guaranteed Notes, Series D | Unsecured term loans, net                
Debt Instrument [Line Items]                
Stated Interest Rate 4.29%           4.29% [3]  
Stated Maturity Date             Mar. 01, 2027  
Long-term Debt, Principal Balance             $ 250,000 $ 0
[1] The Operating Partnership has an option to extend the term loan up to one time, with such extension for a 12-month period. The foregoing extension option is exercisable by us subject to the satisfaction of certain conditions.
[2] The Operating Partnership entered into a one-month forward-starting seven-year swap contract on August 19, 2014, which was settled on September 19, 2014 at a gain of approximately $1.6 million. The forward-starting seven-year swap contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate in accordance with GAAP is approximately 3.88% per annum.
[3] The Operating Partnership entered into forward-starting interest rate swap contracts on March 29, 2016 and April 7, 2016, which were settled on January 18, 2017 at a gain of approximately $10.4 million. The forward-starting interest swap rate contracts were deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate in accordance with GAAP is approximately 3.87% per annum.