Copper Property CTL Pass Through Trust has released its monthly report for November 2024, revealing a substantial distribution to its certificateholders. The Trust, which was established to manage and sell properties acquired from J.C. Penney’s Chapter 11 reorganization, will distribute a total of $7.2 million, or $0.096036 per trust certificate, on December 10, 2024.
The distribution will be paid to certificateholders of record as of December 9, 2024. This regular monthly payout demonstrates the Trust’s ongoing operational stability and its ability to generate returns from the portfolio of retail and warehouse properties it oversees.
Investors and interested parties can access additional information, including the Trust’s Monthly and Quarterly Reports, through the Trust’s website at www.ctltrust.net. The Trust has also filed a Form 8-K with the Securities and Exchange Commission (SEC) containing the detailed monthly report for the period ended November 30, 2024.
The Copper Property CTL Pass Through Trust’s portfolio consists of 160 retail properties and 6 warehouse distribution centers, all of which were acquired from J.C. Penney as part of its bankruptcy reorganization plan. The Trust’s primary objective is to sell these properties to third-party purchasers as quickly as practicable, with operations focused solely on owning, leasing, and selling the Properties.
GLAS Trust Company LLC serves as the Trustee, while an affiliate of Hilco Real Estate LLC externally manages the Trust. For tax purposes, the Trust is intended to be treated as a liquidating trust within the meaning of United States Treasury Regulation Section 301.7701-4(d).
This monthly distribution and reporting cycle is crucial for investors to understand the Trust’s performance and the progress of its property disposition strategy. The consistent flow of information helps maintain transparency and allows stakeholders to make informed decisions regarding their investments in the Trust.
As the Trust continues to manage and sell off its property portfolio, these monthly reports and distributions serve as key indicators of its success in maximizing value for certificateholders. The ability to maintain regular distributions suggests that the Trust is effectively managing its assets and generating income from its properties while working towards its ultimate goal of liquidation.
It’s important for investors to note that the Trust’s activities and future performance are subject to various risks and uncertainties. The Trust has issued a forward-looking statement cautioning that actual results may differ materially from predictions due to known and unknown risks, many of which are beyond its control.
Factors that could affect the Trust’s performance include changes in the real estate market, economic conditions, and regulatory environment. Investors are encouraged to review the Trust’s filings with the SEC for a more comprehensive understanding of the potential risks and factors that may impact future results.
As the Trust progresses with its mission to sell properties and distribute proceeds to certificateholders, these monthly reports will continue to be a valuable resource for tracking the Trust’s performance and the real estate market’s response to this significant portfolio of former J.C. Penney properties.
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