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

9 Months Ended

Sep. 30, 2021

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


						As of				As of
						September 30, 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	$	247,967
Senior notes	3.750	%			December 2024	—		—		250,000		248,493
Senior notes	3.125	%			September 2026	350,000		347,189		350,000		346,770
Senior notes	3.875	%			July 2027	300,000		297,642		300,000		297,346
Senior notes	2.750	%			September 2031	400,000		390,839		—		—

Mortgages payable:
Atlantic City (2)(3)(4)	5.14	%	-	7.65%	November 2021- December 2026	24,531		25,463		27,343		28,569
Southaven (5)	LIBOR		+	1.80%	October 2021	51,400		51,344		51,400		51,371
Unsecured term loan	LIBOR		+	1.25%	April 2024	300,000		298,288		350,000		347,370
Unsecured lines of credit	LIBOR		+	1.20%	July 2025	—		—		—		—
						$	1,425,931	$	1,410,765	$	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 October 2021, we repaid a $2.1 million mortgage note secured by the Atlantic City property, which was scheduled to mature in December 2021. The effective interest rate for the remaining notes remains 5.05% as established upon acquisition. The stated rates for the remaining secured notes ranged from 5.14% to 7.65% with maturity dates between November 2021 and December 2026.

(5)In October 2021, the joint venture that owns the Southaven, MS outlet center exercised its option to extend the maturity of the Southaven, MS mortgage to April 2023 and paid down the principal balance by $11.3 million to $40.1 million. The interest rate remains LIBOR + 1.80%. The outlet center is consolidated for financial reporting purposes and we funded the entire $11.3 million.

Schedule of Maturities of Long-term Debt

Maturities of the existing long-term debt as of September 30, 2021 for the next five years and thereafter are as follows (in thousands):


Calendar Year	Amount
For the remainder of 2021	$	54,381
2022	4,436
2023	4,768
2024	305,140
2025	1,501
Thereafter	1,055,705
Subtotal	1,425,931
Net discount and debt origination costs	(15,166)
Total	$	1,410,765