Tanger Announces $70M All-Cash Acquisition Of Asheville Outlets In Asheville, NC
Portfolio Pulse from Benzinga Newsdesk
Tanger Factory Outlet Centers, Inc. has announced the acquisition of Asheville Outlets in Asheville, NC, for $70 million in cash. This move is part of Tanger's external growth strategy and adds an open-air shopping center to its portfolio in a market that is popular with tourists.
November 13, 2023 | 10:39 pm
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Tanger's acquisition of Asheville Outlets for $70M in cash reflects a strategic move to enhance its property portfolio and capitalize on a tourism-rich market.
The acquisition is likely to be viewed positively by investors as it represents a strategic expansion in a tourism-focused market, which could lead to increased foot traffic and higher revenue potential for Tanger. The all-cash nature of the deal suggests a strong balance sheet and financial confidence, which may be reassuring to investors. However, the long-term success of the acquisition will depend on the integration of the new property and the overall health of the retail sector.
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