M&A - TANGER INC.

Form Type: ARS

Filing Date: 2025-03-28

Corporate Action: Acquisition

Type: Update

Accession Number: 000089971525000098

Filing Summary: On March 28, 2025, Tanger Inc. provided an update regarding its recent acquisitions, highlighting the strategic expansion of its portfolio through the acquisition of two upscale, open-air lifestyle destinations: The Promenade at Chenal in Little Rock, Arkansas, and Pinecrest in Cleveland, Ohio. These acquisitions are part of Tanger's ongoing strategy to enhance its footprint in affluent markets. The Promenade at Chenal, a dynamic retail hub, features over 40 exclusive brands, while Pinecrest aims to serve as the premier destination for shopping and entertainment in its region. Additionally, Tanger noted its strong financial performance, with a 98% occupancy rate across its centers and significant growth in its dividend per share over the past three years. The report emphasizes Tanger's commitment to delivering elevated customer experiences and maintaining investor engagement, driving a total shareholder return of 28% in 2024.

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