September 29, 2016 5:29 AM ET

Equity Real Estate Investment Trusts (REITs)

Company Overview of Tanger Properties Limited Partnership

Company Overview

Tanger Properties Limited Partnership owns and operates outlet centers in the United States. It focuses on developing, acquiring, owning, operating, and managing outlet shopping centers. As of September 30, 2012, it owned and operated 36 outlet centers, with a total gross leasable area of approximately 10.7 million square feet, as well as had partial ownership interests in 3 outlet centers totaling approximately 1.2 million square feet, including one outlet center in Ontario, Canada. Tanger Properties Limited Partnership was founded in 1993 and is headquartered in Greensboro, North Carolina. Tanger Properties Limited Partnership operates as a subsidiary of Tanger Factory Outlet Centers Inc.

3200 Northline Avenue

Suite 360

Greensboro, NC 27408

United States

Founded in 1993

291 Employees

Phone:

336-292-3010

Fax:

336-852-2096

Key Executives for Tanger Properties Limited Partnership

Chairman of Tanger GP Trust, Chief Executive Officer of Tanger GP Trust and President of Tanger GP Trust
Age: 67
Chief Financial Officer of Tanger GP Trust, Executive Vice President of Tanger GP Trust and Treasurer of Tanger GP Trust
Age: 57
Chief Operating Officer of Tanger GP Trust and Executive Vice President of Tanger GP Trust
Age: 58
Chief Accounting Officer of Tanger GP Trust, Senior Vice President of Tanger GP Trust and Controller of Tanger GP Trust
Age: 51
Executive Vice President of Tanger GP Trust, General Counsel of Tanger GP Trust and Secretary of Tanger GP Trust
Age: 44
Compensation as of Fiscal Year 2016.

Tanger Properties Limited Partnership Key Developments

Tanger Factory Outlet Centers Inc. and Tanger Properties Limited Partnership Announce Close on First Amendment to Amended and Restated Term Loan Agreement

On April 13, 2016, Tanger Properties Limited Partnership (the Operating Partnership), a majority owned subsidiary of Tanger Factory Outlet Centers Inc., closed on a First Amendment to Amended and Restated Term Loan Agreement between the Operating Partnership, the company, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto. The First Amendment amends the Amended and Restated Term Loan Agreement, dated as of October 29, 2015, among the Operating Partnership, Wells Fargo Bank, National Association as administrative agent, and the lenders party thereto. The First Amendment, among other things, increased the size of the unsecured term loan from $250 million to $325 million, extended the maturity date from February 23, 2019 to April 13, 2021, reduced the applicable LIBOR margin from LIBOR plus 105 basis points to LIBOR plus 95 basis points, and increased the incremental loan availability through an accordion feature from $150 million to $175 million. The additional loan proceeds of $75 million were used to pay down balances under the Operating Partnership's unsecured lines of credit.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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