Profile: Tanger Factory Outlet Centers Inc (SKT)
22 May 2015
Tanger Factory Outlet Centers, Inc., incorporated on March 9, 1993, is a fully integrated, self-administered and self-managed real estate investment trust (REIT). The Company focuses on developing, acquiring, owning, operating and managing outlet shopping centers. The Company owns the majority of the units of partnership interest issued by the Tanger Properties Limited Partnership (Operating Partnership) through its two wholly owned 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.
As of September 30, 2014, the Company had 37 consolidated outlet centers in 24 states coast to coast, with a total gross leasable area of approximately 11.6 million square feet. These centers were, on average, 98% occupied and contained over 2,400 stores, representing approximately 380 store brands. It also has partial ownership interests in eight outlet centers totaling approximately 2.1 million square feet, including three outlet centers in Canada. The Company's centers range in size from 24,619 to 741,981 square feet. Each of its outlet centers carries the Tanger brand name. On August 30, 2013, Tanger Factory Outlet Centers, Inc., through its wholly owned subsidiary, raised its interest from 33.33% to 66.66% by acquiring a further 33.33% stake in Tanger Outlets. On January 23, 2014, the Company acquired an undisclosed minority in Outlet Mall of Georgia.
As of December 31, 2013, the Company’s tenant base consisted of approximately 400 national designer or brand name concepts, such as American Eagle, Ann Taylor, Banana Republic, Brooks Brothers, Carters, Calvin Klein, Coach Leatherware, Eddie Bauer, GAP, J. Crew, Kate Spade, Michael Kors, Nike, Old Navy, Polo Ralph Lauren, Saks Fifth Avenue - Off Fifth, Tommy Hilfiger and Under Armour.
Tanger Factory Outlet Centers Inc
3200 Northline Ave Ste 360
GREENSBORO NC 27408-7612