Tanger to Buy Levis Commons Town Center in $60 Million Cash Deal
The acquisition is part of a disciplined external growth strategy to enhance the company's portfolio of open-air and lifestyle centers.
Tanger (SKT) agreed to acquire Levis Commons Town Center in an all-cash transaction valued at approximately $60 million.
The acquisition of the market-dominant shopping center is part of a disciplined external growth strategy intended to enhance the company's portfolio and deliver long-term growth.
“Our disciplined external growth strategy continued with the accretive acquisition of Levis Commons Town Center, the seventh open-air and fourth lifestyle center added in the past three years,” said Stephen Yalof, President and Chief Executive Officer of Tanger. Yalof added that the company remains well-positioned to unlock additional value at its centers and deliver long-term growth for stakeholders, supported by a "strong and flexible balance sheet and best-in-class platform".
The deal follows a broader trend of retail REITs acquiring dominant regional assets to drive cash flow. In July 2025, CBL Properties acquired four regional malls for $178.9 million. Similarly, Urban Edge Properties expanded its footprint through several acquisitions in 2025, including LaCenterra at Cinco Ranch for $223 million and the Chino Spectrum Towne Center for $190.7 million.
Tanger has previously utilized its balance sheet to expand its open-air footprint, including the acquisitions of The Promenade at Chenal and Pinecrest.