Tanger Factory Outlet Centers will acquire three new centers for around $400 million, The Wall Street Journal reports. The U.S. real estate company will pay Cordish $125 million in cash and assume $75 million in debt for the Walk outlets in New Jersey and another center in Maryland.
North Carolina-based Tanger will also buy the Prime Outlets in Ohio from Simon Property Group. The acquisition of the three malls is expected to be completed within the next three months.
Click here for the story from The Wall Street Journal.