American Assets Trust, Inc.

Ladies and gentlemen, thank you for standing by and welcome to the Q2 2021 American Asset Trust Inc. earnings call. At this time, all participants are on a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during the session, you need to press star 1 on your telephone. If you require any further assistance, please press star 1-0. I would like to turn the call over to your host, Adam Weil. You may begin.

Thank you, Operator. Good morning, everyone. Welcome to American Asset Trust, Inc.' 's second quarter 2021 earnings call. Yesterday afternoon, our earnings release and supplemental information were furnished to the SEC on Form 8K. Both are now available on the investor sections of our website, AmericanAssetsTrust.com. A telephonic replay and on-demand webcast will also be available for this call over the next week. During this call, we will discuss non-GAAP financial measures, which are reconciled to our GAAP financial results in our earnings release and supplemental information. We will also be making forward-looking statements based on our current expectations, which statements are subject to risks and uncertainties discussed in our SEC filings. You are cautioned not to place undue reliance on these forward-looking statements. Actual events could cause our results to differ materially from these forward-looking statements for a number of reasons, including as it may relate to the continuing impact from COVID-19. And with that, I'll turn the call over to Ernest Rady, our chairman and CEO, to begin the discussion of our second quarter 2021 results. Ernest?

Thanks, Adam, and good morning, everyone. We are making great progress on all fronts as we focus our efforts on a rebound from COVID-19's impact by enhancing and amenitizing existing properties, acquiring new accretive properties like Eastgate Office Park in Bellevue, which the team will talk about more in a bit, retaining and adding new customers to our portfolio, furthering our development of La Jolla Commons, of which we recently bottomed out our excavation and otherwise remain on time and on budget, and, of course, growing our earnings and net asset value for our stockholders. We have been through hard times before, and each time we have emerged stronger, which remains our expectation and mine now. I want to mention that the Board of Directors has approved the quarterly dividend of $0.30 per share for the third quarter, an increase of $0.02 per share, or 7%, from the second quarter, which we believe is supported by our increased collection efforts in the second quarter, improving traffic in Waikiki at our embassy suites, and our expectation for operations to continue trending favorably in the near term. I'm also pleased to announce that the Board has appointed Adam Weil to the position of President, in addition to his Chief Operating Officer role and title. As many of you know, Adam is a valuable and hardworking member of our executive team, and this title describes the breadth of responsibilities and leadership that he has successfully taken on prior to and during the pandemic, as well as the confidence our board and myself and our management team has in him to manage in partnership with our excellent executive team, the day-to-day operations of AET. I personally am blessed with excellent health and this company is very important to me. I intend to continue my role as chairman and CEO for the foreseeable future. However, it is very important to our board, myself and shareholders that you know this company will always remain in very capable hands, and that we are fortunate to have such a great management team and group of associates at AAT, all of whom work together as we continue on as a best-in-class REIT. Adam, Bob, and Steve will go into more detail on our various asset management segments, collections, and financial results. and will be available for any questions you may have at the conclusion of our prepared remarks. On behalf of all of American Assets Trust, we thank you for your confidence in allowing us to manage your company and for your continued support now more than ever. And now I'm going to return it back to our newly elected President, Adam.