Reynolds Pire's questions to American Assets Trust Inc (AAT) leadership • Q2 2025
Question
Reynolds Pire of Green Street Advisors, LLC inquired about American Assets Trust's capital allocation plans for its cash balance following recent dispositions and asked about the specific tenant industries, particularly AI, driving leasing interest at its 1 Beach property.
Answer
Executive Chairman Ernest Rady stated that AAT is actively looking for acquisition opportunities with significant upside, preferring multifamily or retail over office at the moment. President & CEO Adam Wyll added that the cash provides balance sheet strength and comfort amid global uncertainty. Regarding leasing, SVP of Office Properties Steve Center confirmed that AI and technology companies are the primary drivers of recent leasing activity in San Francisco, contributing to increased interest at 1 Beach.