Tanger Factory Outlet Centers has sold a total of four properties in North Carolina, Maryland, Utah and Iowa. Tanger Factory Outlet Centers hassold a total of four properties in North Carolina, Maryland, Utahand Iowa.

GREENSBORO, NC—Tanger Factory Outlet Centers Inc. reports it hassold four non-core outlet centers for $130.5 million. The fouroutlet center properties are located in Nags Head, NC; Ocean City,MD; Park City, UT and Williamsburg, IA.

Initially, Tanger expects to use the $128.7 million of netproceeds from the sale of the four unencumbered assets to repaybalances under its lines of credit. Ultimately, it intends toallocate the proceeds between opportunistically repurchasing itscommon shares and reducing outstanding debt balances to maintain astrong and flexible balance sheet.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.