Profile: Tanger Factory Outlet Centers Inc (SKT)
27 Jul 2016
Tanger Factory Outlet Centers, Inc., incorporated on March 3, 1993, is a self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers in the United States and Canada. The Company's consolidated portfolio consists of approximately 34 outlet centers, with a total gross leasable area of approximately 11.7 million square feet. These outlet centers were occupied and contained over 2,400 stores, representing approximately 400 store brands. The Company also has partial ownership interests in approximately nine outlet centers totaling approximately 2.7 million square feet, including four outlet centers in Canada.
The Company's outlet centers and other assets are held by, and all of the Company's operations are conducted by, Tanger Properties Limited Partnership (Operating Partnership) and subsidiaries. The Company owns the units of partnership interest issued by the Operating Partnership, through its two subsidiaries, Tanger GP Trust and Tanger LP Trust. Tanger GP Trust controls the Operating Partnership as its sole general partner. Tanger LP Trust holds a limited partnership interest. The Company, through its ownership of the Tanger GP and Tanger LP Trusts, owns approximately 95,880,825 units of the Operating Partnership and the Non-Company LPs collectively owned approximately 5,052,743 Class A common limited partnership units.
The Company's consolidated outlet centers range in size from 82,161 to 749,074 square feet and are located at least 10 miles from department stores and manufacturer-owned, full-price retail stores. The Company has a tenant base throughout its consolidated portfolio and consists of approximately 400 different national designer or brand name concepts, such as American Eagle Outfitters, Banana Republic Factory Store, Barneys New York, Brooks Brothers, Calvin Klein, Coach, Gap Outlet, Giorgio Armani, Hugo Boss Factory Store, J. Crew, Kate Spade New York, Lululemon Athletica, Michael Kors, Nike Factory Store, North Face, Polo Ralph Lauren Factory Store, Saks Fifth Avenue Off 5th, Tommy Hilfiger, Under Armour, Victoria's Secret, Vineyard Vines and others. The Company's outlet centers include Park City, Rehoboth Beach, Riverhead, San Marcos, Sanibel, Terrell, Tilton, Williamsburg, Deer Park, Foley, Grand Rapids and Southaven.
Tanger Factory Outlet Centers Inc
3200 Northline Ave Ste 360
GREENSBORO NC 27408-7612