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, 2016

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, 2016 (in thousands)

Description				Initial cost to Company				Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at Close of Period December 31, 2016 ⁽¹⁾
Outlet Center Name	Location	Encum-brances ⁽²⁾		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	$	43,286	$	—	$	125,988	$	—	$	4,562	$	—	$	130,550	$	130,550	$	24,605	2011 ⁽⁴⁾	⁽³⁾
Blowing Rock	Blowing Rock, NC	—		1,963		9,424		—		8,586		1,963		18,010		19,973		9,496		1997 ⁽⁴⁾	⁽³⁾
Branson	Branson, MO	—		4,407		25,040		396		22,145		4,803		47,185		51,988		28,592		1994	⁽³⁾
Charleston	Charleston, SC	—		10,353		48,877		—		13,836		10,353		62,713		73,066		26,185		2006	⁽³⁾
Commerce	Commerce, GA	—		1,262		14,046		707		34,441		1,969		48,487		50,456		30,109		1995	⁽³⁾
Daytona Beach	Daytona Beach, FL	—		9,913		80,547		—		—		9,913		80,547		90,460		741		2016	⁽³⁾
Deer Park	Deer Park, NY	—		82,413		173,044		—		8,281		82,413		181,325		263,738		25,010		2013 ⁽⁴⁾	⁽³⁾
Foley	Foley, AL	—		4,400		82,410		693		42,161		5,093		124,571		129,664		50,272		2003 ⁽⁴⁾	⁽³⁾
Fort Worth	Fort Worth, TX	—		—		19,756		—		—		—		19,756		19,756		—		2017 ⁽⁵⁾	⁽³⁾
Foxwoods	Mashantucket, CT	69,902		—		130,562		—		553		—		131,115		131,115		8,999		2015	⁽³⁾
Gonzales	Gonzales, LA	—		679		15,895		—		35,055		679		50,950		51,629		29,743		1992	⁽³⁾
Grand Rapids	Grand Rapids, MI	—		8,180		75,420		—		—		8,180		75,420		83,600		5,978		2015	⁽³⁾
Hershey	Hershey, PA	—		3,673		48,186		—		3,430		3,673		51,616		55,289		10,633		2011⁽⁴⁾	⁽³⁾
Hilton Head I	Bluffton, SC	—		4,753		—		—		33,351		4,753		33,351		38,104		10,936		2011	⁽³⁾
Hilton Head II	Bluffton, SC	—		5,128		20,668		—		10,160		5,128		30,828		35,956		14,149		2003 ⁽⁴⁾	⁽³⁾
Howell	Howell, MI	—		2,250		35,250		—		12,006		2,250		47,256		49,506		21,633		2002 ⁽⁴⁾	⁽³⁾
Jeffersonville	Jeffersonville, OH	—		2,752		111,276		—		7,668		2,752		118,944		121,696		22,437		2011 ⁽⁴⁾	⁽³⁾
Lancaster	Lancaster, PA	—		3,691		19,907		—		31,718		3,691		51,625		55,316		25,138		1994 ⁽⁴⁾	⁽³⁾
Locust Grove	Locust Grove, GA	—		2,558		11,801		—		27,881		2,558		39,682		42,240		24,388		1994	⁽³⁾
Mebane	Mebane, NC	—		8,821		53,362		—		2,971		8,821		56,333		65,154		20,087		2010	⁽³⁾
Myrtle Beach Hwy 17	Myrtle Beach, SC	—		—		80,733		—		6,883		—		87,616		87,616		26,662		2009 ⁽⁴⁾	⁽³⁾
Myrtle Beach Hwy 501	Myrtle Beach, SC	—		8,781		56,798		—		36,998		8,781		93,796		102,577		38,241		2003 ⁽⁴⁾	⁽³⁾
Nags Head	Nags Head, NC	—		1,853		6,679		—		6,150		1,853		12,829		14,682		7,879		1997 ⁽⁴⁾	⁽³⁾
Ocean City	Ocean City, MD	—		—		16,334		—		8,069		—		24,403		24,403		5,701		2011 ⁽⁴⁾	⁽³⁾



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, 2016 (in thousands)

Description				Initial cost to Company				Costs Capitalized Subsequent to Acquisition (Improvements)				Gross Amount Carried at Close of Period December 31, 2016 ⁽¹⁾
Outlet Center Name	Location	Encum-brances ⁽²⁾		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
Park City	Park City, UT	—		6,900		33,597		343		26,883		7,243		60,480		67,723		23,481		2003 ⁽⁴⁾	⁽³⁾
Pittsburgh	Pittsburgh, PA	—		5,528		91,288		3		13,488		5,531		104,776		110,307		44,450		2008	⁽³⁾
Rehoboth Beach	Rehoboth Beach, DE	—		20,600		74,209		1,875		45,194		22,475		119,403		141,878		43,356		2003 ⁽⁴⁾	⁽³⁾
Riverhead	Riverhead, NY	—		—		36,374		6,152		124,490		6,152		160,864		167,016		84,127		1993	⁽³⁾
San Marcos	San Marcos, TX	—		1,801		9,440		2,301		58,170		4,102		67,610		71,712		39,226		1993	⁽³⁾
Savannah	Pooler, GA	—		8,556		167,780		—		1,408		8,556		169,188		177,744		1,892		2016 ⁽⁴⁾	⁽³⁾
Sevierville	Sevierville, TN	—		—		18,495		—		48,469		—		66,964		66,964		35,187		1997 ⁽⁴⁾	⁽³⁾
Seymour	Seymour, IN	—		200		—		—		—		200		—		200		—		1994	⁽³⁾
Southaven	Southaven, MS	58,957		14,959		62,042		—		5,193		14,959		67,235		82,194		4,527		2015	⁽³⁾
Terrell	Terrell, TX	—		523		13,432		—		9,681		523		23,113		23,636		17,654		1994	⁽³⁾
Tilton	Tilton, NH	—		1,800		24,838		29		11,249		1,829		36,087		37,916		15,767		2003 ⁽⁴⁾	⁽³⁾
Westbrook	Westbrook, CT	—		6,264		26,991		4,233		7,419		10,497		34,410		44,907		15,164		2003 ⁽⁴⁾	⁽³⁾
Westgate	Glendale, AZ	—		19,037		140,337		—		6		19,037		140,343		159,380		2,200		2016 ⁽⁴⁾	⁽³⁾
Williamsburg	Williamsburg, IA	—		706		6,781		717		17,592		1,423		24,373		25,796		19,938		1991	⁽³⁾
		$	172,145	$	254,704	$	1,967,607	$	17,449	$	726,147	$	272,153	$	2,693,754	$	2,965,907	$	814,583


(1)	Aggregate cost for federal income tax purposes is approximately $3.0 billion.


(2)	Including premiums and net of debt discount of and net debt origination costs.


(3)	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.


(4)	Represents year acquired.


(5)	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, 2016

(in thousands)

The changes in total real estate for the years ended December 31, 2016, 2015 and 2014 are as follows:



	2016			2015		2014
Balance, beginning of year	$	2,513,217		$	2,263,603	$	2,249,819
Acquisitions	335,710			—		—
Improvements	163,187			245,391		160,560
Dispositions and reclasses to and from rental property held for sale	(46,207		)	4,223		(146,776		)
Balance, end of year	$	2,965,907		$	2,513,217	$	2,263,603

The changes in accumulated depreciation for the years ended December 31, 2016, 2015 and 2014 are as follows:



	2016			2015		2014
Balance, beginning of year	$	748,341		$	662,236	$	654,631
Depreciation for the period	96,813			85,872		80,057
Dispositions and reclasses to and from rental property held for sale	(30,571		)	233		(72,452		)
Balance, end of year	$	814,583		$	748,341	$	662,236