Copper Property CTL Trust Acquires J.C. Penney's Retail Portfolio for Swift Sale
Copper Property CTL Pass Through Trust has been set up to acquire a significant portfolio of retail properties and warehouse distribution centers from J.C. Penney. The Trust's primary goal is to sell these properties to third-party buyers at the earliest convenience.
The Trust, which began operations on September 30, 2025, has filed a monthly report detailing its activities. It owns and leases 160 real estate properties and 6 warehouse distribution centers, with plans to sell these assets promptly. GLAS Trust Company LLC serves as the Trustee, while an affiliate of Hilco Real Estate LLC manages its external operations.
For tax purposes, the Trust is structured as a liquidating trust under United States Treasury Regulation Section 301.7701-4(d). Unitholders can expect an aggregate distribution of $17.6 million, amounting to $0.234415 per trust certificate, to be paid on October 10, 2025.
Copper Property CTL Pass Through Trust has taken over 160 real estate properties and 6 distribution centers from J.C. Penney, aiming to sell them swiftly. With GLAS Trust Company LLC as the Trustee and Hilco Real Estate LLC managing operations, the Trust has filed its first monthly report. Unitholders can anticipate a substantial distribution in the coming month.
