SEGMENT REPORTING (Tables)
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12 Months Ended |
Dec. 31, 2025 |
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| Segment Reporting [Abstract] |
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| Schedule of Segment Activity |
The following table represents the significant segment expenses and operating activity within our reportable segments (in thousands): | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2025 | | 2024 | | 2023 | | Total Office | | | | | | | Property revenue | $ | 206,037 | | | $ | 215,778 | | | $ | 207,856 | | | Rental expenses | 46,223 | | | 43,181 | | | 40,627 | | | Real estate taxes | 20,675 | | | 19,053 | | | 20,712 | | | Property expense | 66,898 | | | 62,234 | | | 61,339 | | | Segment profit | 139,139 | | | 153,544 | | | 146,517 | | | Total Retail | | | | | | | Property revenue | 95,122 | | | 109,040 | | | 104,767 | | | Rental expenses | 14,823 | | | 18,578 | | | 18,008 | | | Real estate taxes | 11,961 | | | 13,930 | | | 13,432 | | | Property expense | 26,784 | | | 32,508 | | | 31,440 | | | Segment profit | 68,338 | | | 76,532 | | | 73,327 | | | Total Multifamily | | | | | | | Property revenue | 68,961 | | | 65,372 | | | 61,830 | | | Rental expenses | 23,810 | | | 21,603 | | | 20,788 | | | Real estate taxes | 8,141 | | | 7,186 | | | 7,237 | | | Property expense | 31,951 | | | 28,789 | | | 28,025 | | | Segment profit | 37,010 | | | 36,583 | | | 33,805 | | | Total Mixed-Use | | | | | | | Property revenue | 66,084 | | | 67,665 | | | 66,711 | | | Rental expenses | 39,745 | | | 40,141 | | | 39,378 | | | Real estate taxes | 4,217 | | | 4,055 | | | 3,775 | | | Property expense | 43,962 | | | 44,196 | | | 43,153 | | | Segment profit | 22,122 | | | 23,469 | | | 23,558 | | | Total segments’ profit | $ | 266,609 | | | $ | 290,128 | | | $ | 277,207 | |
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| Schedule of 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): | | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | | 2025 | | 2024 | | 2023 | | Total segments' profit | $ | 266,609 | | | $ | 290,128 | | | $ | 277,207 | | | General and administrative | (37,841) | | | (35,468) | | | (35,960) | | | Depreciation and amortization | (127,312) | | | (125,461) | | | (119,500) | | | Interest expense, net | (78,120) | | | (74,527) | | | (64,706) | | | | | | | | | Gain on sale of real estate | 44,476 | | | — | | | — | | | Other income, net | 3,558 | | | 18,147 | | | 7,649 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net income | 71,370 | | | 72,819 | | | 64,690 | | | Net income attributable to restricted shares | (852) | | | (787) | | | (761) | | Net income attributable to unitholders in the Operating Partnership | (14,870) | | | (15,234) | | | (13,551) | | Net income attributable to American Assets Trust, Inc. stockholders | $ | 55,648 | | | $ | 56,798 | | | $ | 50,378 | |
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| Schedule of 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 reportable segments, along with their capital expenditures for each year (in thousands): | | | | | | | | | | | | | December 31, 2025 | | December 31, 2024 | | Net real estate | | | | | Office | $ | 1,587,316 | | | $ | 1,597,458 | | Retail (1) | 469,733 | | | 478,037 | | | Multifamily | 406,163 | | | 351,016 | | | Mixed-Use | 156,156 | | | 160,975 | | | $ | 2,619,368 | | | $ | 2,587,486 | | Secured Notes Payable (2) | | | | | Office | $ | 75,000 | | | $ | 75,000 | | | Retail | — | | | — | | | | | | | | | | | $ | 75,000 | | | $ | 75,000 | | Capital Expenditures (3) | | | | | Office | $ | 61,510 | | | $ | 56,720 | | | Retail | 11,510 | | | 13,568 | | | Multifamily | 5,094 | | | 5,637 | | | Mixed-Use | 2,306 | | | 1,482 | | | $ | 80,420 | | | $ | 77,407 | |
(1)Excludes the real estate assets held for sale as of December 31, 2024. (2)Excludes unamortized debt issuance costs of $0.2 million and $0.2 million as of December 31, 2025 and 2024, respectively. (3)Capital expenditures represent cash paid for capital expenditures during the year and includes leasing commissions paid. |