Business News • MarketWire • RioCan Real Estate Investment Trust and Tanger Factory Outlet Centers, Inc. to Build Canada's First Tanger Outlet Center in Greater Toronto

RioCan Real Estate Investment Trust and Tanger Factory Outlet Centers, Inc. to Build Canada's First Tanger Outlet Center in Greater Toronto

RioCan Real Estate Investment Trust and Tanger Factory Outlet Centers, Inc. to Build Canada's First Tanger Outlet Center in Greater Toronto

TORONTO, ONTARIO and GREENSBORO, NORTH CAROLINA--(Marketwire - March 14, 2011) - RioCan Real Estate Investment Trust ("RioCan") (TSX:REI.UN) and Tanger Factory Outlet Centers, Inc. ("Tanger") (NYSE:SKT), through their exclusive joint venture, announced today that they have entered into a purchase and sale agreement to acquire a 35 acre parcel of land to build the first Tanger Outlet Center in the Greater Toronto Area ("GTA"). The site for its first factory outlet will be Halton Hills, on Highway 401 at the James Snow Parkway interchange. The project is scheduled to start in the fourth quarter of 2011 and be ready for an April 2013 opening.

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