Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
Tanger Factory Outlet Centers, Inc
    
ASSETS:    
Land $ 144,329 $ 141,577
Buildings, improvements and fixtures 1,560,920 1,411,404
Construction in progress 3,367 23,233
Real Estate Investment Property, at Cost, Total 1,708,616 1,576,214
Accumulated depreciation (477,687) (453,145)
Rental property, net 1,230,929 1,123,069
Cash and cash equivalents 18,438 5,758
Rental property held for sale 0 723
Investments in unconsolidated joint ventures. 4,592 6,386
Deferred lease costs and other intangibles, net 51,573 29,317
Deferred debt origination costs, net 6,783 7,593
Prepaids and other assets 55,274 44,088
Total assets 1,367,589 1,216,934
Liabilities    
Senior, unsecured notes (net of discount of $2,695 and $858 respectively) 554,644 554,616
Bridge Loan 150,000 0
Unsecured lines of credit 182,000 160,000
Long-term Debt, Total 886,644 714,616
Construction trade payables 27,333 31,831
Accounts payable and accrued expenses 27,129 31,594
Other liabilities 16,170 16,998
Total liabilities 957,276 795,039
Commitments and contingencies    
Common shares, $.01 par value, 150,000,000 shares authorized, 40,486,834 and 40,277,124 shares issued and outstanding at September 30, 2010 and December 31, 2009, respectively 813 810
Paid in capital 607,756 604,359
Distributions in excess of net income (253,213) (240,024)
Accumulated other comprehensive income (loss) 1,683 1,784
Equity attributable to Tanger Factory Outlet Centers, Inc. 357,039 366,929
Equity attributable to noncontrolling interest in Operating Partnership 53,274 54,966
Total equity 410,313 421,895
Total liabilities and equity 1,367,589 1,216,934
Tanger Properties Limited Partnership
    
ASSETS:    
Land 144,329 141,577
Buildings, improvements and fixtures 1,560,920 1,411,404
Construction in progress 3,367 23,233
Real Estate Investment Property, at Cost, Total 1,708,616 1,576,214
Accumulated depreciation (477,687) (453,145)
Rental property, net 1,230,929 1,123,069
Cash and cash equivalents 18,366 5,671
Rental property held for sale 0 723
Investments in unconsolidated joint ventures. 4,592 6,386
Deferred lease costs and other intangibles, net 51,573 29,317
Deferred debt origination costs, net 6,783 7,593
Prepaids and other assets 54,942 43,717
Total assets 1,367,185 1,216,476
Liabilities    
Senior, unsecured notes (net of discount of $2,695 and $858 respectively) 554,644 554,616
Bridge Loan 150,000 [1] 0 [1]
Unsecured lines of credit 182,000 [2] 160,000 [2]
Long-term Debt, Total 886,644 714,616
Construction trade payables 27,333 31,831
Accounts payable and accrued expenses 26,725 31,136
Other liabilities 16,170 16,998
Total liabilities 956,872 794,581
Commitments and contingencies    
General partner 5,070 5,221
Limited partners 403,612 414,926
Accumulated other comprehensive income (loss) 1,631 1,748
Total partners' equity 410,313 421,895
Total liabilities and equity $ 1,367,185 $ 1,216,476
[1] Our senior, unsecured bridge loan bears interest at a rate of LIBOR + 1.60% and has an initial maturity date of September 26, 2011. At our discretion we may extend the maturity to June 22, 2012 by exercising each of the three ninety-day extension options.
[2] Our unsecured lines of credit as of June 30, 2011 bear interest at a rate of LIBOR + 1.90% and expire in November 2013. These lines require a facility fee payment of 0.40% annually based on the total amount of the commitment. The credit spread and facility fee can vary depending on our investment grade rating.