American Asset Trust plans $500 million IPO
American Assets Trust, Inc., the follow up real estate investment trust to San Diego-based business American Assets, Inc., announced its plan to collect an initial public offering of up to $500 million for its common stock. The company expects that its portfolio will be comprised of ten retail shopping centers, six office properties, a mixed-use property consisting of a 369-room all-suite hotel and retail shopping center and four multifamily properties, according to an article by RTTNews. MarketWatch reported the firm is working with underwriters at Bank of America Merrill Lynch (BAC), Wells Fargo Securities and Morgan Stanley (MS) to complete the venture. American Assets Trust will trade under the ticker "AAT." Write to Christine Ricciardi.