Inside Long Island Business

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Tanger buys controlling stake in Deer Park outlet

Tanger Outlets in Deer Park opened on Oct.

(Credit: Alexi Knock)

Tanger Factory Outlet Centers Inc. has increased its ownership stake in the Tanger Outlet at Deer Park, the company announced.

The Greensboro, N.C.-based real estate investment trust bought the one-third interest in the Deer Park location from Syosset-based Blumenfeld Development Group for $13.4 million in cash and 450,576 Class A shares of Tanger stock. The deal was worth about $27.46 million...

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