(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)

GREENSBORO, NC-Tanger Factory Outlets has closed on the purchase of the two-thirds it did not own of a joint venture in nine outlet centers from partner Blackstone Real Estate Advisors for $282.5 million. The two firms acquired the properties in December 2003 from Charter Oak Partners for $491 million.

As a result of the deal, the total amount of square footage in Tanger's portfolio has jumped from 4.9 million sf to 8.2 million sf. The REIT currently owns 33 centers in 22 states across the country.

Tanger funded the buy with the sale of three million common shares at $27.09 each, $250 million of 6.15% senior unsecured notes due Nov. 15, 2015, and the issuance of 2.2 million of preferred shares at a price of $25 each. Excess proceeds from the offerings were used, in part, to prepay a $77.4-million mortgage.