XML 100 R61.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Debt (Details)
 12 Months Ended
Jan. 09, 2019
Extension_Option
Jan. 09, 2018
USD ($)
Extension_Option
Apr. 25, 2017
May 02, 2016
USD ($)
Mar. 23, 2016
Mar. 01, 2016
USD ($)
Jan. 29, 2016
Oct. 31, 2014
USD ($)
Jan. 09, 2014
USD ($)
Extension_Option
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Jul. 19, 2017
USD ($)
May 23, 2017
USD ($)
Mar. 01, 2017
USD ($)
Debt Instrument [Line Items]                            
Line of Credit Facility, Interest Rate During Period                   3.55%        
Unsecured line of credit                   $ 0 $ 62,337,000      
Unsecured notes payable                   1,195,780,000 1,045,863,000      
Unsecured line of credit                            
Debt Instrument [Line Items]                            
Maximum leverage ratio of revolving credit facility   60.00%                        
Maximum secured leverage ratio on revolving credit facility   40.00%                        
Minimum fixed charge coverage ratio covenant threshold   1.5             1.5          
Minimum interest coverage ratio covenant threshold   175.00%             175.00%          
Maximum unsecured leverage ratio (in percents)   60.00%                        
Minimum tangible net worth                 $ 721,160,000          
Percent of net proceeds of any additional equity issuances in relation to net proceeds as of Offering                 75.00%          
Maximum recourse indebtedness of total asset value (in percents)   15.00%                        
Percentage annual distributions cannot exceed funds from operations                 95.00%          
Unsecured line of credit | Federal Funds Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   0.50%             0.50%          
Unsecured line of credit | Eurodollar                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.00%             1.00%          
Term Loan A | Unsecured debt | Federal Funds Rate                            
Debt Instrument [Line Items]                            
Basis spread on federal funds rate 0.50%                          
Term Loan A | Unsecured debt | Eurodollar                            
Debt Instrument [Line Items]                            
Basis spread on Eurodollar rate 1.00%                          
Term Loan B | Unsecured debt | Federal Funds Rate                            
Debt Instrument [Line Items]                            
Basis spread on federal funds rate   0.50%       0.50%                
Term Loan B | Unsecured debt | Eurodollar                            
Debt Instrument [Line Items]                            
Basis spread on Eurodollar rate   0.10%       1.00%                
Term Loan C | Unsecured debt | Federal Funds Rate                            
Debt Instrument [Line Items]                            
Basis spread on federal funds rate   0.50%                        
Term Loan C | Unsecured debt | Eurodollar                            
Debt Instrument [Line Items]                            
Basis spread on Eurodollar rate   0.10%                        
American Assets Trust, L.P.                            
Debt Instrument [Line Items]                            
Unsecured line of credit                   0 62,337,000      
Unsecured notes payable                   1,195,780,000 1,045,863,000      
American Assets Trust, L.P. | Unsecured line of credit | Base Rate                            
Debt Instrument [Line Items]                            
Variable rate basis                 base rate          
American Assets Trust, L.P. | Unsecured line of credit | Revolving Credit Facility                            
Debt Instrument [Line Items]                            
Number of extensions available | Extension_Option                 2          
Extension term (in months)                 6 months          
American Assets Trust, L.P. | Unsecured debt                            
Debt Instrument [Line Items]                            
Long-term Debt, Principal Balance                   1,200,000,000 1,050,000,000      
Unsecured notes payable                   $ 1,195,780,000 1,045,863,000      
American Assets Trust, L.P. | Term Loan A                            
Debt Instrument [Line Items]                            
Unsecured notes payable                 $ 100,000,000          
American Assets Trust, L.P. | Term Loan A | Minimum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents) 0.20%                          
American Assets Trust, L.P. | Term Loan A | Maximum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents) 0.70%                          
American Assets Trust, L.P. | Term Loan A | Unsecured debt                            
Debt Instrument [Line Items]                            
Stated Maturity Date                   Jan. 09, 2021        
Long-term Debt, Principal Balance                   $ 100,000,000 100,000,000      
Number of extensions available | Extension_Option 3                          
Extension term (in months) 1 year                          
American Assets Trust, L.P. | Term Loan A | Unsecured debt | LIBOR                            
Debt Instrument [Line Items]                            
Variable rate basis LIBOR                          
American Assets Trust, L.P. | Term Loan A | Unsecured debt | Base Rate                            
Debt Instrument [Line Items]                            
Prime rate prime rate                          
Federal funds rate federal funds rate                          
Eurodollar Eurodollar                          
American Assets Trust, L.P. | Term Loan A | Unsecured debt | Minimum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents) 1.20%                          
American Assets Trust, L.P. | Term Loan A | Unsecured debt | Maximum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents) 1.70%                          
American Assets Trust, L.P. | Term Loan B                            
Debt Instrument [Line Items]                            
Number of year amortization schedule   7 years       7 years                
Face amount of debt           $ 100,000,000                
Stated Maturity Date           Mar. 01, 2023 Mar. 01, 2023              
American Assets Trust, L.P. | Term Loan B | Minimum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   0.70%       0.70%                
American Assets Trust, L.P. | Term Loan B | Maximum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.35%       1.35%                
American Assets Trust, L.P. | Term Loan B | Unsecured debt                            
Debt Instrument [Line Items]                            
Face amount of debt           $ 100,000,000                
Stated Maturity Date                   Mar. 01, 2023        
Long-term Debt, Principal Balance                   $ 100,000,000 100,000,000      
American Assets Trust, L.P. | Term Loan B | Unsecured debt | LIBOR                            
Debt Instrument [Line Items]                            
Variable rate basis   LIBOR       LIBOR                
American Assets Trust, L.P. | Term Loan B | Unsecured debt | Base Rate                            
Debt Instrument [Line Items]                            
Minimum base rate   0.00%       0.00%                
Prime rate   prime rate       prime rate                
Federal funds rate   federal funds rate       federal funds rate                
Eurodollar   Eurodollar       Eurodollar                
American Assets Trust, L.P. | Term Loan B | Unsecured debt | Minimum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.20%       1.70%                
American Assets Trust, L.P. | Term Loan B | Unsecured debt | Maximum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.70%       2.35%                
American Assets Trust, L.P. | Term Loan B & Term Loan C | Unsecured debt                            
Debt Instrument [Line Items]                            
Face amount of debt   $ 150,000,000                        
American Assets Trust, L.P. | Term Loan C                            
Debt Instrument [Line Items]                            
Number of year amortization schedule   7 years   7 years                    
Face amount of debt       $ 50,000,000                    
Stated Maturity Date       Mar. 01, 2023 Mar. 01, 2023                  
American Assets Trust, L.P. | Term Loan C | Minimum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   0.70%   0.70%                    
American Assets Trust, L.P. | Term Loan C | Maximum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.35%   1.35%                    
American Assets Trust, L.P. | Term Loan C | Unsecured debt                            
Debt Instrument [Line Items]                            
Face amount of debt       $ 50,000,000                    
Stated Maturity Date                   Mar. 01, 2023        
Long-term Debt, Principal Balance                   $ 50,000,000 50,000,000      
American Assets Trust, L.P. | Term Loan C | Unsecured debt | LIBOR                            
Debt Instrument [Line Items]                            
Variable rate basis   LIBOR   LIBOR                    
American Assets Trust, L.P. | Term Loan C | Unsecured debt | Base Rate                            
Debt Instrument [Line Items]                            
Minimum base rate   0.00%   0.00%                    
Prime rate   prime rate   prime rate                    
Federal funds rate   federal funds rate   federal funds rate                    
Eurodollar   Eurodollar   Eurodollar                    
American Assets Trust, L.P. | Term Loan C | Unsecured debt | Minimum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.20%   1.70%                    
American Assets Trust, L.P. | Term Loan C | Unsecured debt | Maximum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.70%   2.35%                    
American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes                            
Debt Instrument [Line Items]                            
Face amount of debt               $ 350,000,000            
Partial debt repayment, minimum percentage of principal (in percent)               5.00%            
Full debt repayment percentage of principal plus a Make-Whole Amount (in percent)               100.00%            
American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes, Series A                            
Debt Instrument [Line Items]                            
Face amount of debt               $ 150,000,000            
Stated Interest Rate               4.04%            
American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes, Series B                            
Debt Instrument [Line Items]                            
Face amount of debt               $ 100,000,000            
Stated Interest Rate               4.45%            
American Assets Trust, L.P. | Note Purchase Agreement | Senior Guaranteed Notes, Series C                            
Debt Instrument [Line Items]                            
Face amount of debt               $ 100,000,000            
Stated Interest Rate               4.50%            
American Assets Trust, L.P. | Amended and Restated Credit Facility                            
Debt Instrument [Line Items]                            
Revolving credit facility borrowing limit, maximum borrowing capacity                 350,000,000          
Allowable additional borrowing capacity                 $ 250,000,000          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Minimum | Revolving Credit Facility | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)                 0.35%          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Maximum | Revolving Credit Facility | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)                 0.95%          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Base Rate                            
Debt Instrument [Line Items]                            
Prime rate                 prime rate          
Federal funds rate                 federal funds rate          
Eurodollar                 Eurodollar          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility                            
Debt Instrument [Line Items]                            
Revolving credit facility borrowing limit, maximum borrowing capacity                 $ 250,000,000          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | LIBOR                            
Debt Instrument [Line Items]                            
Variable rate basis                 LIBOR          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Minimum | Revolving Credit Facility | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)                 1.35%          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured line of credit | Maximum | Revolving Credit Facility | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)                 1.95%          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt                            
Debt Instrument [Line Items]                            
Revolving credit facility borrowing limit, maximum borrowing capacity                 $ 100,000,000          
Number of extensions available | Extension_Option                 3          
Extension term (in months)                 12 months          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt | Minimum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)                 1.30%          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt | Minimum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)                 0.30%          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt | Maximum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)                 1.90%          
American Assets Trust, L.P. | Amended and Restated Credit Facility | Unsecured debt | Maximum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)                 0.90%          
American Assets Trust, L.P. | Senior Guaranteed Notes, Series D | Unsecured debt                            
Debt Instrument [Line Items]                            
Face amount of debt                           $ 250,000,000
Stated Maturity Date                   Mar. 01, 2027        
Stated Interest Rate                   4.29% [1]       4.29%
Long-term Debt, Principal Balance                   $ 250,000,000 250,000,000      
American Assets Trust, L.P. | Senior Guaranteed Notes, Series E | Unsecured debt                            
Debt Instrument [Line Items]                            
Number of year amortization schedule     12 years                      
Face amount of debt                         $ 100,000,000  
Stated Maturity Date                   May 23, 2029        
Stated Interest Rate                   4.24% [2]     4.24%  
Long-term Debt, Principal Balance                   $ 100,000,000 100,000,000      
American Assets Trust, L.P. | Senior Guaranteed Notes, Series F | Unsecured debt                            
Debt Instrument [Line Items]                            
Face amount of debt                       $ 100,000,000    
Stated Maturity Date                   Jul. 19, 2024        
Stated Interest Rate                   3.78% [3]   3.78%    
Long-term Debt, Principal Balance                   $ 100,000,000 100,000,000      
American Assets Trust, L.P. | Senior Guaranteed Notes, Series G [Member] | Unsecured debt                            
Debt Instrument [Line Items]                            
Stated Maturity Date                   Jul. 30, 2030        
Stated Interest Rate [4]                   3.91%        
Long-term Debt, Principal Balance                   $ 150,000,000 $ 0      
American Assets Trust, L.P. | Second Amended and Restated Credit Facility                            
Debt Instrument [Line Items]                            
Revolving credit facility borrowing limit, maximum borrowing capacity   $ 450,000,000                        
Allowable additional borrowing capacity   $ 250,000,000                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit                            
Debt Instrument [Line Items]                            
Unsecured line of credit                   0        
Debt issuance costs, net, revolving credit facility                   $ 1,300,000        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Base Rate                            
Debt Instrument [Line Items]                            
Prime rate   prime rate                        
Federal funds rate   federal funds rate                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility                            
Debt Instrument [Line Items]                            
Revolving credit facility borrowing limit, maximum borrowing capacity   $ 350,000,000                        
Number of extensions available | Extension_Option   2                        
Extension term (in months)   6 months                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Revolving Credit Facility | LIBOR                            
Debt Instrument [Line Items]                            
Variable rate basis   LIBOR                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Minimum | Revolving Credit Facility | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.05%                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Minimum | Revolving Credit Facility | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   0.10%                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Maximum | Revolving Credit Facility | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.50%                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured line of credit | Maximum | Revolving Credit Facility | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   0.50%                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured debt                            
Debt Instrument [Line Items]                            
Revolving credit facility borrowing limit, maximum borrowing capacity   $ 100,000,000                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured debt | Minimum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.30%                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured debt | Minimum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   0.30%                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured debt | Maximum | LIBOR                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   1.90%                        
American Assets Trust, L.P. | Second Amended and Restated Credit Facility | Unsecured debt | Maximum | Base Rate                            
Debt Instrument [Line Items]                            
Basis spread on variable rate (in percents)   0.90%                        
Interest Rate Swap | American Assets Trust, L.P.                            
Debt Instrument [Line Items]                            
Fixed interest rate on derivative                   3.08%        
Interest Rate Swap | American Assets Trust, L.P. | Term Loan A                            
Debt Instrument [Line Items]                            
Fixed interest rate on derivative                   4.13%        
Interest Rate Swap | American Assets Trust, L.P. | Term Loan B                            
Debt Instrument [Line Items]                            
Fixed interest rate on derivative                   2.75% 3.15%      
Interest Rate Swap | American Assets Trust, L.P. | Term Loan C                            
Debt Instrument [Line Items]                            
Fixed interest rate on derivative                   2.74% 3.14%      
[1]
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 highly effective cash flow hedges, accordingly, the effective interest rate is approximately 3.87% per annum.
[2]
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.
[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 a treasury lock contract on June 20, 2019, which was settled on July 17, 2019 at a gain 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 3.88% per annum.