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SEGMENT REPORTING (Tables)
 6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule of segments operating activity
The following table represents operating activity within our reportable segments (in thousands): 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Total Retail
 
 
 
 
 
 
 
Property revenue
$
25,871

 
$
26,415

 
$
55,308

 
$
52,572

Property expense
(7,731
)
 
(7,138
)
 
(14,885
)
 
(13,949
)
Segment profit
18,140

 
19,277

 
40,423

 
38,623

Total Office
 
 
 
 
 
 
 
Property revenue
30,200

 
31,052

 
58,006

 
57,822

Property expense
(9,269
)
 
(8,342
)
 
(17,758
)
 
(16,355
)
Segment profit
20,931

 
22,710

 
40,248

 
41,467

Total Multifamily
 
 
 
 
 
 
 
Property revenue
12,897

 
12,622

 
25,796

 
25,046

Property expense
(4,883
)
 
(5,020
)
 
(9,956
)
 
(10,017
)
Segment profit
8,014

 
7,602

 
15,840

 
15,029

Total Mixed-Use
 
 
 
 
 
 
 
Property revenue
15,145

 
14,934

 
30,322

 
30,315

Property expense
(9,218
)
 
(9,010
)
 
(18,344
)
 
(18,155
)
Segment profit
5,927

 
5,924

 
11,978

 
12,160

Total segments’ profit
$
53,012

 
$
55,513

 
$
108,489

 
$
107,279
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):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Total segments’ profit
$
53,012

 
$
55,513

 
$
108,489

 
$
107,279

General and administrative
(5,943
)
 
(5,396
)
 
(12,016
)
 
(10,963
)
Depreciation and amortization
(22,582
)
 
(32,868
)
 
(43,165
)
 
(66,147
)
Interest expense
(13,129
)
 
(12,688
)
 
(26,478
)
 
(26,508
)
Gain on sale of real estate
633

 
—

 
633

 
—

Other (expense) income, net
(50
)
 
(148
)
 
(279
)
 
61

Net income
11,941

 
4,413

 
27,184

 
3,722

Net income attributable to restricted shares
(92
)
 
(216
)
 
(185
)
 
(144
)
Net income attributable to unitholders in the Operating Partnership
(2,933
)
 
(1,125
)
 
(6,988
)
 
(959
)
Net income attributable to American Assets Trust, Inc. stockholders
$
8,916

 
$
3,072

 
$
20,011

 
$
2,619
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 (in thousands):
 
June 30, 2019
 
December 31, 2018
Net Real Estate
 
 
 
Retail
$
627,988

 
$
628,734

Office
1,307,106

 
822,574

Multifamily
406,378

 
412,042

Mixed-Use
177,451

 
176,503

 
$
2,518,923

 
$
2,039,853

Secured Notes Payable (1)
 
 
 
Retail
$
34,625

 
$
35,008

Office
127,954

 
147,757

Multifamily
—

 
—

Mixed-Use
—

 
—

 
$
162,579

 
$
182,765

(1)
Excludes debt issuance costs of $0.2 million and $0.2 million for each of the periods ending June 30, 2019 and December 31, 2018, respectively.
Capital expenditures for each segment
Capital expenditures for each segment for the three and six months ended June 30, 2019 and 2018 were as follows (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Capital Expenditures (1)
 
 
 
 
 
 
 
Retail
$
6,650

 
$
3,228

 
$
11,441

 
$
5,457

Office
17,418

 
7,513

 
33,901

 
14,886

Multifamily
685

 
875

 
1,456

 
2,484

Mixed-Use
3,271

 
429

 
3,663

 
583

 
$
28,024

 
$
12,045

 
$
50,461

 
$
23,410

(1)
Capital expenditures represent cash paid for capital expenditures during the period and include leasing commissions paid