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Real Estate (Tables)
 12 Months Ended
Dec. 31, 2019
Real Estate [Line Items]  
Summary of Real Estate Investments A summary of the properties owned by us is as follows:
Retail
Carmel Country Plaza
Gateway Marketplace
Alamo Quarry Market
Carmel Mountain Plaza
Del Monte Center
Hassalo on Eighth - Retail
South Bay Marketplace
Geary Marketplace
 
Lomas Santa Fe Plaza
The Shops at Kalakaua
 
Solana Beach Towne Centre
Waikele Center
 
Office
La Jolla Commons
One Beach Street
 
Torrey Reserve Campus
First & Main
 
Torrey Point
Lloyd District Portfolio
 
Solana Crossing (formerly Solana Beach Corporate Centre)
City Center Bellevue
 
The Landmark at One Market
 
 
Multifamily
Loma Palisades
Hassalo on Eighth - Multifamily
 
Imperial Beach Gardens
 
 
Mariner's Point
 
 
Santa Fe Park RV Resort
 
 
Pacific Ridge Apartments
 
 
Mixed-Use
 
 
Waikiki Beach Walk Retail and Embassy Suites™ Hotel
 

Held for Development and Construction in Progress
La Jolla Commons - Land
 
 
Solana Crossing – Land
 
 
Lloyd District Portfolio – Construction in Progress
 
 

A summary of our real estate investments is as follows (in thousands):
 
Retail
 
Office
 
Multifamily
 
Mixed-Use
 
Total
 
December 31, 2019
 
 
 
 
 
 
 
 

 
Land
$
254,016

 
$
225,238

 
$
72,668

 
$
76,635

 
$
628,557

 
Buildings
523,645

 
1,132,990

 
390,379

 
126,726

 
2,173,740

 
Land improvements
46,335

 
11,097

 
7,106

 
2,606

 
67,144

 
Tenant improvements
87,707

 
151,662

 
—

 
2,252

 
241,621

 
Furniture, fixtures, and equipment
911

 
3,065

 
14,995

 
7,187

 
26,158

 
Construction in progress
6,487

 
35,397

 
2,212

 
7,381

 
51,477

(1) 
 
919,101

 
1,559,449

 
487,360

 
222,787

 
3,188,697

 
Accumulated depreciation
(294,189
)
 
(241,595
)
 
(86,208
)
 
(43,230
)
 
(665,222
)
 
Net real estate
$
624,912

 
$
1,317,854

 
$
401,152

 
$
179,557

 
$
2,523,475

 
December 31, 2018
 
 
 
 
 
 
 
 
 
 
Land
$
262,860

 
$
143,467

 
$
72,668

 
$
76,635

 
$
555,630

 
Buildings
516,566

 
743,474

 
389,831

 
125,859

 
1,775,730

 
Land improvements
43,412

 
8,825

 
6,778

 
2,606

 
61,621

 
Tenant improvements
70,210

 
91,612

 
—

 
1,918

 
163,740

 
Furniture, fixtures, and equipment
570

 
2,671

 
13,844

 
6,826

 
23,911

 
Construction in progress
8,598

 
39,511

 
854

 
596

 
49,559

(1) 
 
902,216

 
1,029,560

 
483,975

 
214,440

 
2,630,191

 
Accumulated depreciation
(273,482
)
 
(206,986
)
 
(71,933
)
 
(37,937
)
 
(590,338
)
 
Net real estate
$
628,734

 
$
822,574

 
$
412,042

 
$
176,503

 
$
2,039,853

 


(1) Land related to held for development and construction in progress is included in the Held for Development and Construction in Progress classifications on the consolidated balance sheets.
Schedule of Purchase Price Allocations
The financial information set forth below summarizes the company’s purchase price allocations for La Jolla Commons during the year ended December 31, 2019 (in thousands):
 
 
La Jolla Commons
Land
$
82,759

Building
361,471

Land improvements
1,359

Furniture, fixtures, and equipment
30,822

Total real estate
476,411

Lease intangibles
40,082

Prepaid expenses and other assets
13

Assets acquired
$
516,506

Accounts payable and accrued expenses
$
3,578

Security deposits payable
443

Other liabilities and deferred credits
3,817

Liabilities assumed
$
7,838
Schedule of Operating Results
The following table summarizes the operating results for the La Jolla Commons included in the company’s historical consolidated statement of comprehensive income and in the office segment for the period of acquisition through December 31, 2019 (in thousands):
 
June 20, 2019 through December 31, 2019
Revenues
$
20,579

Operating expenses
$
18,140

Operating income
$
2,439

Net income attributable to American Assets Trust, Inc.
$
2,650
Schedule of Pro Forma Financial Information The pro forma financial information set forth below is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the transactions occurred at the beginning of 2018, nor does it purport to represent the results of future operations (in thousands). 
 
Year Ended December 31, 2019
 
Year Ended December 31, 2018
 
As Reported
 
ProForma
 
As Reported
 
ProForma
Total revenue
$
366,741

 
$
383,125

 
$
330,867

 
$
365,326

Total operating expenses
$
253,056

 
$
264,107

 
$
251,332

 
$
281,253

Operating income
$
113,685

 
$
119,018

 
$
79,535

 
$
84,073

Net income
$
60,188

 
$
64,278

 
$
27,202

 
$
30,662