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American Assets Trust Closes Biggest Deal of the Year

The investor buys La Jolla Commons for $525 million in what has become San Diego’s largest office deal so far this year.

San Diego San Diego

American Assets Trust has acquired La Jolla Commons for $525 million. This is the largest office transaction in San Diego so far this year. The deal included an $11.5 million seller credit, which was paid in cash and funds drawn against the seller’s existing credit facility at the close of escrow.

The property is a two-tower 724,000-square-foot class-A office building located in the University Town Center of San Diego. The property is LEED certified.

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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