American Assets Trust, Inc. Announces Sale of 160 King Street in San Francisco, California

2012-12-04 22:06:03 -

Company Release - December 4, 2012

SAN DIEGO -American Assets Trust, Inc. (NYSE:AAT) (the "Company") announced
today the sale of the commercial office building known as 160 King Street
located in San Francisco, California for approximately $93,750,000.

"The disposition of 160 King Street reflects our strategy of taking advantage of
market conditions to reallocate capital within our existing and future
portfolio," said John W. Chamberlain, the Company's President and Chief
Executive Officer.

Proceeds from the disposition of 160 King St. were applied to the reverse 1031
exchange structured in connection with the Company's acquisition of City Center
Bellevue, an office building located in the financial district of Bellevue,

About American Assets Trust, Inc.

The Company is a full service, vertically integrated and self-administered real
estate investment trust, or REIT, headquartered in San Diego, California.  For
over 40 years, the Company has been acquiring, improving, developing and
managing premier retail, office and residential properties throughout the United
States in some of the nation's most dynamic, high-barrier-to-entry markets
primarily in Southern California, Northern California, Oregon, Washington and
Hawaii. The Company's retail portfolio comprises approximately 3.0 million
rentable square feet, and its office portfolio comprises approximately 2.6
million square feet.  In addition, the Company owns one mixed-use property
(including approximately 97,000 rentable square feet of retail space and a 369-
room all-suite hotel) and over 900 multifamily units.  In 2011, the Company was
formed to succeed to the real estate business of American Assets, Inc., a
privately held corporation founded in 1967 and, as such, has significant
experience, long-standing relationships and extensive knowledge of its core
markets, submarkets and asset classes. For additional information, please visit

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of
the federal securities laws, which are based on current expectations, forecasts
and assumptions that involve risks and uncertainties that could cause actual
outcomes and results to differ materially.  Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies, anticipated
events or trends and similar expressions concerning matters that are not
historical facts. In some cases, you can identify forward-looking statements by
the use of forward-looking terminology such as "may," "will,"
"expects," "intends," "plans," "anticipates,"
"believes," "estimates,"
"predicts," or "potential" or the negative of these words and phrases or
words or phrases which are predictions of or indicate future events or trends
and which do not relate solely to historical matters. While forward-looking
statements reflect the Company's good faith beliefs, assumptions and
expectations, they are not guarantees of future performance.  For a further
discussion of these and other factors that could cause the Company's future
results to differ materially from any forward-looking statements, see the
section entitled "Risk Factors" in the Company's annual report on Form 10-K and
other risks described in documents subsequently filed by the Company from time
to time with the Securities and Exchange Commission.  The Company disclaims any
obligation to publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, of new information, data or
methods, future events or other changes.

Source:  American Assets Trust, Inc.

Investor and Media Contact:

Robert F. Barton

AAT Logo:

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Source: American Assets Trust, Inc. via Thomson Reuters ONE

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