Annual report pursuant to Section 13 and 15(d)

Partners' Equity of the Operating Partnership

v2.4.0.6
Partners' Equity of the Operating Partnership (Tanger Properties Limited Partnership [Member])
12 Months Ended
Dec. 31, 2012
Tanger Properties Limited Partnership [Member]
 
Schedule of Partners' Equity of the Operating Partnership [Line Items]  
Partners' Equity of the Operating Partnership
Partners' Equity of the Operating Partnership

At December 31, 2012 and December 31, 2011, the ownership interests of the Operating Partnership consisted of the following:

 
 
2012
 
2011
Common units:
 
 
 
 
General partner
 
250,000

 
250,000

Limited partners
 
24,455,812

 
24,304,887

Total common units
 
24,705,812

 
24,554,887



When the Company issues common shares upon exercise of options or issuance of restricted share awards, the Operating Partnership issues a corresponding unit to the Company on a four shares for one unit basis.

At December 31, 2012, the Family Limited Partners owned 1,190,466 limited partnership common units which are exchangeable for 4,761,864 common shares of the Company. The Company owned the remaining limited partnership common units and all of the general partnership common units.