Tanger Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Schedule III

Schedule III

12 Months Ended

Dec. 31, 2015

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, 2015 (in thousands)

Description				Initial cost to Company				Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at Close of Period December 31, 2015 ⁽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	$	46,606	$	—	$	125,988	$	—	$	3,127	$	—	$	129,115	$	129,115	$	20,322	2011 ⁽³⁾	⁽²⁾
Blowing Rock	Blowing Rock, NC	—		1,963		9,424		—		8,150		1,963		17,574		19,537		8,887		1997 ⁽³⁾	⁽²⁾
Branson	Branson, MO	—		4,407		25,040		396		21,271		4,803		46,311		51,114		27,199		1994	⁽²⁾
Charleston	Charleston, SC	—		10,353		48,877		—		13,039		10,353		61,916		72,269		23,692		2006	⁽²⁾
Commerce	Commerce, GA	—		1,262		14,046		707		33,901		1,969		47,947		49,916		28,803		1995	⁽²⁾
Daytona Beach	Daytona Beach, FL	—		—		16,699		—		—		—		16,699		16,699		—		⁽⁴⁾	⁽²⁾
Deer Park	Deer Park, NY	149,155		82,413		173,044		—		3,448		82,413		176,492		258,905		17,564		2013 ⁽³⁾	⁽²⁾
Foley	Foley, AL	—		4,400		82,410		693		40,720		5,093		123,130		128,223		46,826		2003 ⁽³⁾	⁽²⁾
Foxwoods	Mashantucket, CT	70,250		—		130,562		—		—		—		130,562		130,562		3,338		2015	⁽⁴⁾
Gonzales	Gonzales, LA	—		679		15,895		—		35,059		679		50,954		51,633		27,622		1992	⁽²⁾
Grand Rapids	Grand Rapids, MI	—		8,180		75,479		—		—		8,180		75,479		83,659		1,812		2015	⁽⁴⁾
Hershey	Hershey, PA	—		3,673		48,186		—		2,927		3,673		51,113		54,786		8,558		2011⁽³⁾	⁽²⁾
Hilton Head I	Bluffton, SC	—		4,753		—		—		32,920		4,753		32,920		37,673		9,205		2011	⁽²⁾
Hilton Head II	Bluffton, SC	—		5,128		20,668		—		9,728		5,128		30,396		35,524		12,864		2003 ⁽³⁾	⁽²⁾
Howell	Howell, MI	—		2,250		35,250		—		11,794		2,250		47,044		49,294		20,351		2002 ⁽³⁾	⁽²⁾
Jeffersonville	Jeffersonville, OH	—		2,752		111,276		—		7,220		2,752		118,496		121,248		18,308		2011⁽³⁾	⁽²⁾
Lancaster	Lancaster, PA	—		3,691		19,907		—		22,704		3,691		42,611		46,302		25,101		1994 ⁽³⁾	⁽²⁾
Locust Grove	Locust Grove, GA	—		2,558		11,801		—		26,986		2,558		38,787		41,345		23,223		1994	⁽²⁾
Mebane	Mebane, NC	—		8,821		53,362		—		2,043		8,821		55,405		64,226		17,435		2010	⁽²⁾
Myrtle Beach Hwy 17	Myrtle Beach, SC	—		—		80,733		—		6,477		—		87,210		87,210		23,892		2009 ⁽³⁾	⁽²⁾
Myrtle Beach Hwy 501	Myrtle Beach, SC	—		10,236		57,094		—		36,947		10,236		94,041		104,277		35,090		2003 ⁽³⁾	⁽²⁾
Nags Head	Nags Head, NC	—		1,853		6,679		—		5,831		1,853		12,510		14,363		7,420		1997 ⁽³⁾	⁽²⁾
Ocean City	Ocean City, MD	—		—		16,334		—		7,782		—		24,116		24,116		4,695		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, 2015 (in thousands)

Description				Initial cost to Company				Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at Close of Period December 31, 2015 ⁽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		26,379		7,243		59,976		67,219		21,138		2003 ⁽³⁾	⁽²⁾
Pittsburgh	Pittsburgh, PA	—		5,528		91,288		3		12,938		5,531		104,226		109,757		39,319		2008	⁽²⁾
Rehoboth Beach	Rehoboth Beach, DE	—		20,600		74,209		1,875		35,241		22,475		109,450		131,925		40,018		2003 ⁽³⁾	⁽²⁾
Riverhead	Riverhead, NY	—		—		36,374		6,152		107,799		6,152		144,173		150,325		79,440		1993	⁽²⁾
San Marcos	San Marcos, TX	—		1,801		9,440		1,548		55,813		3,349		65,253		68,602		37,551		1993	⁽²⁾
Sanibel	Fort Myers, FL	—		4,916		23,196		—		12,585		4,916		35,781		40,697		20,383		1998 ⁽³⁾	⁽²⁾
Sevierville	Sevierville, TN	—		—		18,495		—		47,298		—		65,793		65,793		32,958		1997 ⁽³⁾	⁽²⁾
Seymour	Seymour, IN	—		200		—		—		—		200		—		200		—		1994	⁽²⁾
Southaven	Southaven, MS	45,824		14,959		62,042		—		—		14,959		62,042		77,001		447		2015	⁽²⁾
Terrell	Terrell, TX	—		523		13,432		—		9,400		523		22,832		23,355		17,199		1994	⁽²⁾
Tilton	Tilton, NH	—		1,800		24,838		29		10,560		1,829		35,398		37,227		14,614		2003 ⁽³⁾	⁽²⁾
Westbrook	Westbrook, CT	—		6,264		26,991		4,233		6,104		10,497		33,095		43,592		13,861		2003 ⁽³⁾	⁽²⁾
Williamsburg	Williamsburg, IA	—		706		6,781		719		17,322		1,425		24,103		25,528		19,206		1991	⁽²⁾
		$	311,835	$	223,569	$	1,599,437	$	16,698	$	673,513	$	240,267	$	2,272,950	$	2,513,217	$	748,341


(1)	Aggregate cost for federal income tax purposes is approximately $2.6 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, 2015

(in thousands)

The changes in total real estate for the years ended December 31, 2015, 2014 and 2013 are as follows:



	2015		2014			2013
Balance, beginning of year	$	2,263,603	$	2,249,819		$	1,947,352
Acquisitions	—		—			255,107
Improvements	245,391		160,560			50,283
Dispositions and reclasses to and from rental property held for sale	4,223		(146,776		)	(2,923		)
Balance, end of year	$	2,513,217	$	2,263,603		$	2,249,819

The changes in accumulated depreciation for the years ended December 31, 2015, 2014 and 2013 are as follows:



	2015		2014			2013
Balance, beginning of year	$	662,236	$	654,631		$	582,859
Depreciation for the period	85,872		80,057			74,695
Dispositions and reclasses to and from rental property held for sale	233		(72,452		)	(2,923		)
Balance, end of year	$	748,341	$	662,236		$	654,631