XML 65 R52.htm IDEA: XBRL DOCUMENT v3.8.0.1
DEBT - Summary of Total Unsecured Notes Payable Outstanding (Details) - American Assets Trust, L.P.
9 Months Ended
Jun. 23, 2017
USD ($)
May 31, 2017
May 11, 2017
USD ($)
Apr. 25, 2017
Jan. 18, 2017
USD ($)
Apr. 07, 2016
Mar. 29, 2016
Sep. 19, 2014
USD ($)
Aug. 19, 2014
Sep. 30, 2017
USD ($)
Extension_Option
Jul. 19, 2017
USD ($)
May 23, 2017
USD ($)
Mar. 01, 2017
USD ($)
Dec. 31, 2016
USD ($)
Interest Rate Swap                            
Debt Instrument [Line Items]                            
Derivative contract term   7 years   10 years   10 years 10 years              
Forward Contracts                            
Debt Instrument [Line Items]                            
Loss on derivative settlement $ 500,000                          
Derivative contract term                 7 years          
Gain on derivative settlement     $ 700,000   $ 10,400,000     $ 1,600,000            
Unsecured term loans, net                            
Debt Instrument [Line Items]                            
Long-term Debt, Principal Balance                   $ 1,050,000,000       $ 600,000,000
Debt issuance costs, net                   (5,066,000)       (3,650,000)
Total Debt Outstanding                   1,044,934,000       596,350,000
Debt issuance costs, accumulated amortization                   $ 5,473,000       4,317,000
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                   $ 100,000,000       100,000,000
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                   $ 150,000,000       150,000,000
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                   $ 100,000,000       100,000,000
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                   $ 50,000,000       50,000,000
Senior Guaranteed Notes, Series F | Forward Contracts                            
Debt Instrument [Line Items]                            
Effective rate of debt instrument (in percent)                   3.85%        
Senior Guaranteed Notes, Series F | Unsecured term loans, net                            
Debt Instrument [Line Items]                            
Stated Interest Rate                   3.78% [3] 3.78%      
Face amount of debt                     $ 100,000,000      
Stated Maturity Date                   Jul. 19, 2024        
Long-term Debt, Principal Balance                   $ 100,000,000       0
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                   $ 100,000,000       100,000,000
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                   $ 100,000,000       100,000,000
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]     4.29%  
Face amount of debt                         $ 250,000,000  
Stated Maturity Date                   Mar. 01, 2027        
Long-term Debt, Principal Balance                   $ 250,000,000       0
Senior Guaranteed Notes, Series E | Forward Contracts                            
Debt Instrument [Line Items]                            
Effective rate of debt instrument (in percent)                   4.18%        
Senior Guaranteed Notes, Series E | Unsecured term loans, net                            
Debt Instrument [Line Items]                            
Stated Interest Rate                   4.24% [5]   4.24%    
Face amount of debt                       $ 100,000,000    
Stated Maturity Date                   May 23, 2029        
Long-term Debt, Principal Balance                   $ 100,000,000       $ 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 is approximately 3.88% per annum.
[3] The Operating Partnership entered into a treasury lock contract on May 31, 2017, which was settled on June 23, 2017 at a loss of approximately $0.5 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 3.85% per annum.
[4] 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 is approximately 3.87% per annum.
[5] The Operating Partnership entered into a treasury lock contract on April 25, 2017, which was settled on May 11, 2017 at a gain of approximately $0.7 million. The treasury lock contract was deemed to be a highly effective cash flow hedge, accordingly, the effective interest rate is approximately 4.18% per annum.