Annual report pursuant to Section 13 and 15(d)

Schedule III

v2.4.1.9
Schedule III
12 Months Ended
Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Real Estate and Accumulated Depreciation Disclosure
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2014 (in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
 
Initial cost to Company
 
Costs Capitalized
Subsequent to Acquisition
(Improvements)
 
Gross Amount Carried at Close of Period
December 31, 2014 (1)
 
 
 
 
 
 
Outlet Center Name
 
Location
 
Encum-brances
 
Land
Buildings,
Improve-ments & Fixtures
 
Land
Buildings,
Improve-ments & Fixtures
 
Land
Buildings,
Improve-ments & Fixtures
Total
 
Accumulated
Depreciation
 
Date of
Construction or Acquisition
 
Life Used to
Compute
Depreciation
in Income
Statement
Atlantic City
 
Atlantic City, NJ
 
$
49,691

 
$

$
125,988

 
$

$
3,142

 
$

$
129,130

$
129,130

 
$
16,019

 
2011 (3)
 
(2) 
Barstow
 
Barstow, CA
 

 
3,281

12,533

 

21,831

 
3,281

34,364

37,645

 
18,948

 
1995
 
(2) 
Blowing Rock
 
Blowing Rock, NC
 

 
1,963

9,424

 

8,116

 
1,963

17,540

19,503

 
8,287

 
1997 (3)
 
(2) 
Branson
 
Branson, MO
 

 
4,407

25,040

 
396

20,774

 
4,803

45,814

50,617

 
25,996

 
1994
 
(2) 
Charleston
 
Charleston, SC
 

 
10,353

48,877

 

12,532

 
10,353

61,409

71,762

 
21,405

 
2006
 
(2) 
Commerce II
 
Commerce, GA
 

 
1,262

14,046

 
707

33,474

 
1,969

47,520

49,489

 
27,230

 
1995
 
(2) 
Deer Park
 
Deer Park, NY
 
148,839

 
82,413

173,044

 

2,534

 
82,413

175,578

257,991

 
9,925

 
2013 (3)
 
(2) 
Foley
 
Foley, AL
 

 
4,400

82,410

 
693

40,769

 
5,093

123,179

128,272

 
42,731

 
2003 (3)
 
(2) 
Foxwoods
 
Mashantucket, CT
 
25,235

 

9,371

 

67,727

 

77,098

77,098

 

 
(4) 
 
(4) 
Gonzales
 
Gonzales, LA
 

 
679

15,895

 

35,438

 
679

51,333

52,012

 
25,757

 
1992
 
(2) 
Grand Rapids
 
Grand Rapids, MI
 

 

21,119

 


 

21,119

21,119

 

 
(4) 
 
(4) 
Hershey
 
Hershey, PA
 
29,670

 
3,673

48,186

 

2,144

 
3,673

50,330

54,003

 
6,903

 
2011(3)
 
(2) 
Hilton Head I
 
Bluffton, SC
 

 
4,753


 

32,959

 
4,753

32,959

37,712

 
7,155

 
2011
 
(2) 
Hilton Head II
 
Bluffton, SC
 

 
5,128

20,668

 

9,303

 
5,128

29,971

35,099

 
11,611

 
2003 (3)
 
(2) 
Howell
 
Howell, MI
 

 
2,250

35,250

 

11,306

 
2,250

46,556

48,806

 
18,526

 
2002 (3)
 
(2) 
Jeffersonville
 
Jeffersonville, OH
 

 
2,752

111,276

 

6,241

 
2,752

117,517

120,269

 
14,170

 
2011(3)
 
(2) 
Kittery I
 
Kittery, ME
 

 
1,242

2,961

 
229

2,380

 
1,471

5,341

6,812

 
4,452

 
1986
 
(2) 
Kittery II
 
Kittery, ME
 

 
1,451

1,835

 

874

 
1,451

2,709

4,160

 
2,354

 
1989
 
(2) 
Lancaster
 
Lancaster, PA
 

 
3,691

19,907

 

17,534

 
3,691

37,441

41,132

 
24,256

 
1994 (3)
 
(2) 
Locust Grove
 
Locust Grove, GA
 

 
2,558

11,801

 

26,837

 
2,558

38,638

41,196

 
22,279

 
1994
 
(2) 
Mebane
 
Mebane, NC
 

 
8,821

53,362

 

1,286

 
8,821

54,648

63,469

 
14,046

 
2010
 
(2) 
Myrtle Beach Hwy 17
 
Myrtle Beach, SC
 

 

80,733

 

5,968

 

86,701

86,701

 
20,728

 
2009 (3)
 
(2) 
Myrtle Beach Hwy 501
 
Myrtle Beach, SC
 

 
10,236

57,094

 

36,438

 
10,236

93,532

103,768

 
31,510

 
2003 (3)
 
(2) 
Nags Head
 
Nags Head, NC
 

 
1,853

6,679

 

5,212

 
1,853

11,891

13,744

 
7,107

 
1997 (3)
 
(2) 
Ocean City
 
Ocean City, MD
 
17,926

 

16,334

 

7,822

 

24,156

24,156

 
3,788

 
2011(3)
 
(2) 
TANGER FACTORY OUTLET CENTERS, INC. AND SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP AND SUBSIDIARIES
SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2014 (in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
 
Initial cost to Company
 
Costs Capitalized
Subsequent to Acquisition
(Improvements)
 
Gross Amount Carried at Close of Period
December 31, 2014 (1)
 
 
 
 
 
 
Outlet Center Name
 
Location
 
Encum-brances

 
Land
Buildings,
Improve-ments & Fixtures
 
Land
Buildings,
Improve-ments & Fixtures
 
Land
Buildings,
Improve-ments & Fixtures
Total
 
Accumulated
Depreciation
 
Date of
Construction
 
Life Used to
Compute
Depreciation
in Income
Statement
Park City
 
Park City, UT
 

 
6,900

33,597

 
343

25,592

 
7,243

59,189

66,432

 
19,135

 
2003 (3)
 
(2) 
Pittsburgh
 
Pittsburgh, PA
 

 
5,528

91,288

 
3

13,385

 
5,531

104,673

110,204

 
34,884

 
2008
 
(2) 
Rehoboth Beach
 
Rehoboth Beach, DE
 

 
20,600

74,209

 
1,875

33,799

 
22,475

108,008

130,483

 
36,318

 
2003 (3)
 
(2) 
Riverhead
 
Riverhead, NY
 

 

36,374

 
6,152

104,446

 
6,152

140,820

146,972

 
74,904

 
1993
 
(2) 
San Marcos
 
San Marcos, TX
 

 
1,801

9,440

 
16

48,488

 
1,817

57,928

59,745

 
35,861

 
1993
 
(2) 
Sanibel
 
Sanibel, FL
 

 
4,916

23,196

 

12,563

 
4,916

35,759

40,675

 
19,505

 
1998 (3)
 
(2) 
Sevierville
 
Sevierville, TN
 

 

18,495

 

46,766

 

65,261

65,261

 
30,671

 
1997 (3)
 
(2) 
Seymour
 
Seymour, IN
 

 
200


 


 
200


200

 

 
1994
 
(2) 
Terrell
 
Terrell, TX
 

 
523

13,432

 

9,519

 
523

22,951

23,474

 
16,802

 
1994
 
(2) 
Tilton
 
Tilton, NH
 

 
1,800

24,838

 
29

10,360

 
1,829

35,198

37,027

 
13,454

 
2003 (3)
 
(2) 
Tuscola
 
Tuscola, IL
 

 
1,600

15,428

 
43

3,697

 
1,643

19,125

20,768

 
7,477

 
2003 (3)
 
(2) 
West Branch
 
West Branch, MI
 

 
319

3,428

 
120

7,796

 
439

11,224

11,663

 
6,792

 
1991
 
(2) 
Westbrook
 
Westbrook, CT
 

 
6,264

26,991

 
4,233

5,706

 
10,497

32,697

43,194

 
12,628

 
2003 (3)
 
(2) 
Williamsburg
 
Williamsburg, IA
 

 
706

6,781

 
718

17,187

 
1,424

23,968

25,392

 
18,641

 
1991
 
(2) 
 
 
 
 
$
271,361

 
$
208,323

$
1,381,330

 
$
15,557

$
751,945

 
$
223,880

$
2,133,275

$
2,357,155

 
$
712,255

 
 
 
 
(1)
Aggregate cost for federal income tax purposes is approximately $2.4 billion.
(2)
We generally use estimated lives of 33 years for buildings and 15 years for land improvements. Tenant finishing allowances are depreciated over the initial lease term. Building, improvements & fixtures includes amounts included in construction in progress on the consolidated balance sheet.
(3)
Represents year acquired.
(4)
Under construction.
TANGER FACTORY OUTLET CENTERS, INC. and SUBSIDIARIES
TANGER PROPERTIES LIMITED PARTNERSHIP and SUBSIDIARIES
SCHEDULE III - (Continued)
REAL ESTATE AND ACCUMULATED DEPRECIATION
For the Year Ended December 31, 2014
(in thousands)

The changes in total real estate for the years ended December 31, 2014, 2013 and 2012 are as follows:

 
 
2014
 
2013
 
2012
Balance, beginning of year
 
$
2,249,819

 
$
1,947,352

 
$
1,916,045

Acquisitions
 

 
255,107

 

Improvements
 
160,560

 
50,283

 
34,633

Dispositions and reclasses to rental property held for sale
 
(146,776
)
 
(2,923
)
 
(3,326
)
Balance, end of year
 
$
2,263,603

 
$
2,249,819

 
$
1,947,352



The changes in accumulated depreciation for the years ended December 31, 2014, 2013 and 2012 are as follows:

 
 
2014
 
2013
 
2012
Balance, beginning of year
 
$
654,631

 
$
582,859

 
$
512,485

Depreciation for the period
 
80,057

 
74,695

 
73,700

Dispositions and reclasses to rental property held for sale
 
(72,452
)
 
(2,923
)
 
(3,326
)
Balance, end of year
 
$
662,236

 
$
654,631

 
$
582,859