Tanger Factory Outlet Centers Inc
* Tanger Factory Outlet says owns 100 pct of Tanger Outlets Westgate after completing acquisition of its partners’ ownership interests on June 30 , 2016
* Tanger Factory Outlet Centers Inc says partners received cash consideration of approximately $41.0 million for their 42 pct stake in joint venture
* Expects transaction to be modestly accretive to 2016 funds from operations per share
* Says deal funded with borrowings under its unsecured lines of credit
* Tanger factory outlet Centers Inc says transaction implies a total value of $159.5 million for property
* Now owns 100 pct of Tanger Outlets Westgate
* Says property is subject to an existing $62.0 million mortgage loan and matures in June 2017
* Is currently evaluating various long-term financing alternatives with objective of extending average term of its debt
* Says JV is now wholly-owned and will be consolidated in company’s financial results as of acquisition date
* Tanger Factory Outlet Centers Inc says financing alternatives, if executed, may be slightly dilutive to 2016 FFO per share Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)
http://www.reuters.com/article/idUSFWN19N0AC
Source: Reuters.com