05:07 PM EDT, 09/16/2025 (MT Newswires) -- Tanger ( SKT ) said Tuesday it acquired Legends Outlets, a 690,000-square-foot open-air retail center in Kansas City, Kansas, for about $130 million.

The company used available liquidity and assumed a $115 million loan maturing in Nov. 2027 to fund the deal, according to the statement.

Tanger ( SKT ) also settled roughly $70 million of forward equity and expects an 8% first-year return from the property, it added.

The center is 93% occupied and has over 100 retail, dining, and entertainment venues, the company said.

Tanger ( SKT ) said it plans to rebrand the site as Tanger Kansas City at Legends and integrate its national loyalty program and community-focused events.