American Assets Trust Pays $229M For Wash. Tower

Law360, New York (July 31, 2012, 7:16 PM EDT) -- California-based real estate investment trust American Assets Trust Inc. has acquired a 27-story trophy office tower in the Seattle suburb of Bellevue, Wash., for about $229 million, American Assets said Monday.

The company said it had acquired the City Center Bellevue, a commercial property located in the central business district of Bellevue, which is across Lake Washington from downtown Seattle. American Assets will fund the acquisition with a combination of cash on hand and a draw against its existing credit facility, the REIT said. The San...
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