Overview

• The center has been rebranded Tanger Kansas City at Legends and is being integrated into Tanger’s operating and loyalty platforms, including TangerClub.
• Tanger financed the acquisition with available liquidity, assumed a $115 million CMBS loan maturing in November 2027, and settled roughly $70 million of previously issued forward equity.
• The open-air property spans about 690,000 square feet, is approximately 93% leased, and features more than 100 retail, dining, and entertainment tenants.
• The company projects an estimated 8% return in the first year of ownership as it targets leasing, marketing, and productivity gains.
• The purchase marks Tanger’s entry into Kansas and continues its external growth strategy, bringing its portfolio to 38 outlet centers and three open-air lifestyle centers across the U.S. and Canada.