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American Assets Trust buying San Diego apartments

Mar. 27, 2017 4:18 PM ETAmerican Assets Trust, Inc. (AAT) StockBy: Stephen Alpher, SA News Editor
  • The company has agreed to the purchase of the 533-unit luxury Pacific Ridge Apartments for about $232M.
  • The community was completed in 2013 and is currently 97% leased.
  • Funding will come from cash on hand and a draw on the American Asset (NYSE:AAT) credit line.
  • It's being structured to be the buying end of a 1031 tax deferred exchange.

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