Sydney McInty

Sydney McInty inquired about the acquisition landscape, specifically the competition from private capital, the volume of deals seen in 2026, and whether transactions are primarily marketed or off-market. She also asked about shifts in customer demographics due to remerchandising and the overall health of the consumer.

Answer

Michael Bilerman, EVP, CFO, and Chief Investment Officer, Tanger, stated that the acquisition pipeline remains active, focusing on value creation in outlet and open-air lifestyle centers, leveraging Tanger's platform despite market competition. He noted a shift to younger, family-oriented consumers due to population changes and successful digital marketing initiatives (TikTok, Instagram), leading to increased engagement with the TangerClub loyalty program.