Debt of the Operating Partnership (Tables) - Tanger Properties Limited Partnership [Member]

3 Months Ended

Mar. 31, 2021

The debt of the Operating Partnership consisted of the following (in thousands):


						As of				As of
						March 31, 2021				December 31, 2020
	Stated Interest Rate(s)				Maturity Date	Principal		Book Value(1)		Principal		Book Value(1)
Senior, unsecured notes:
Senior notes	3.875	%			December 2023	$	250,000	$	248,136	$	250,000	$	247,967
Senior notes	3.750	%			December 2024	250,000		248,585		250,000		248,493
Senior notes	3.125	%			September 2026	350,000		346,909		350,000		346,770
Senior notes	3.875	%			July 2027	300,000		297,444		300,000		297,346

Mortgages payable:
Atlantic City (2)(3)	5.14	%	-	7.65%	November 2021- December 2026	26,420		27,547		27,343		28,569
Southaven (4)	LIBOR		+	1.80%	April 2021	51,400		51,386		51,400		51,371
Unsecured term loan	LIBOR(5)		+	1.00%	April 2024	325,000		322,753		350,000		347,370
Unsecured lines of credit	LIBOR(5)		+	1.00%	October 2021 (6)	—		—		—		—
						$	1,552,820	$	1,542,760	$	1,578,743	$	1,567,886

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

(2)The effective interest rate assigned during the purchase price allocation to the Atlantic City mortgages assumed during the acquisition in 2011 was 5.05%.

(3)Principal and interest due monthly with remaining principal due at maturity.

(4)In April 2021 we extended the maturity date 90 days to explore other financing options however, we may extend the loan using our two-year extension option to April 2023, which could require reductions in principal or additional guarantees to comply with extension requirements.

(5)Beginning in June 2020, if LIBOR is less than 0.25% per annum, the rate will be deemed to be 0.25% for the portions of the lines of credit and bank term loan that are not fixed with an interest rate swap.

(6)Unsecured lines of credit have a one-year extension option to extend maturity to October 2022.

Schedule of Maturities of Long-term Debt

Maturities of the existing long-term debt as of March 31, 2021 for the next five years and thereafter are as follows (in thousands):


Calendar Year	Amount
For the remainder of 2021	$	56,270
2022	4,436
2023	254,768
2024	580,140
2025	1,501
Thereafter	655,705
Subtotal	1,552,820
Net discount and debt origination costs	(10,060)
Total	$	1,542,760