Item 1.01 Entry into a Material Definitive Agreement



On January 5, 2022, American Assets Trust, Inc. (the "Company") and American
Assets Trust, L.P. (the "Operating Partnership") entered into the Third Amended
and Restated Credit Agreement (the "Third Amended and Restated Credit
Agreement") with the lenders from time to time party thereto, Bank of America,
N.A., as Administrative Agent, and other entities named therein, which amends
and restates the Second Amended and Restated Credit Agreement dated January 9,
2018.

The Third Amended and Restated Credit Agreement provides for aggregate,
unsecured borrowings of up to $500 million, consisting of a revolving line of
credit of $400 million (the "Revolver Loan") and a term loan of $100 million
(the "$100mm Term Loan").

Borrowings under the Third Amended and Restated Credit Agreement bear interest
at floating rates equal to, at the Operating Partnership's option, either (1)
the applicable Secured Overnight Financing Rate ("SOFR"), plus the applicable
SOFR Adjustment and a spread which ranges from (a) 1.05%-1.50% (with respect to
Revolver Loans) and (b) 1.20% to 1.70% (with respect to the $100mm Term Loan),
in each case based on the Company's consolidated leverage ratio, or (2) a base
rate equal to the highest of (a) the prime rate, (b) the federal funds rate plus
50 bps, (c) the Term SOFR Screen Rate with a term of one month plus 100 bps and
(d) 1.00%, plus a spread which ranges from (i) 0.10%-0.50% (with respect to
Revolver Loans) and (ii) 0.20% to 0.70% (with respect to the $100mm Term Loan),
in each case based on the Company's consolidated leverage ratio. Additionally,
the Operating Partnership may elect for borrowings to bear interest based on a
ratings-based pricing grid as per the Operating Partnership's then-applicable
investment grade debt ratings under the terms set forth in the Third Amended and
Restated Credit Agreement.

The Revolver Loan initially matures on January 5, 2026, subject to the Operating
Partnership's option to extend the Revolver Loan up to two times, with each such
extension for a six-month period. The foregoing extension options are
exercisable by the Operating Partnership subject to the satisfaction of certain
conditions. The $100mm Term Loan matures on January 5, 2027, with no further
extension options.

Certain of the banks and financial institutions that are parties to the Third
Amended and Restated Credit Agreement and their respective affiliates have in
the past provided, are currently providing, and in the future may continue to
provide investment banking, commercial banking and other financial services to
the Company, Operating Partnership and their affiliates in the ordinary course
of business for which they have received and will receive customary
compensation.

The foregoing description of the Third Amended and Restated Credit Agreement
does not purport to be complete and is qualified in its entirety by reference to
the full text of the Third Amended and Restated Credit Agreement, which is filed
as Exhibit 10.1 hereto, and is incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of Registrant

The terms of the direct financial obligations are summarized in Item 1.01 of this Form 8-K and are incorporated by reference into this Item 2.03.

Item 7.01 Regulation FD Disclosure.



On January 5, 2022, the Company and Operating Partnership issued a press release
announcing the Third Amended and Restated Credit Agreement. A copy of the press
release is attached hereto as Exhibit 99.1. The information contained in Item
7.01 of this Current Report, including Exhibit 99.1, is being furnished and
shall not be deemed "filed" for any purposes, including for the purposes of
Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise
subject to the liabilities of that section. Such information shall not be
incorporated by reference into any filing of the Company and Operating
Partnership, whether made before or after the date hereof, regardless of any
general incorporation language in such filing.
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Item 9.01  Financial Statements and Exhibits.
(d)  Exhibits:
The following exhibits are filed herewith:

Exhibit Number Exhibit Description


      10.1*               Third Amended and Restated Credit Agreement dated

January 5, 2022, by and among


                        the Company, the Operating Partnership, Bank of

America, N.A., as Administrative


                        Agent, and other entities named therein.
      99.1*               Press release issued by American Assets Trust, Inc. on J    anuary 5    ,
                        202    2    .


*  Furnished herewith


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