Copper Property CTL Pass Through Trust Announces $7.77 Million Distribution for August 2024
TL;DR
Investors will receive a total distribution of $7.77 million, providing financial advantage.
The Trust has filed a Form 8-K containing its monthly report for the period ended August 31, 2024.
The Trust's objective is to sell the Properties to third-party purchasers, benefiting the real estate market.
Copper Property CTL Pass Through Trust has filed a Form 8-K containing its monthly report for August 2024.
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Copper Property CTL Pass Through Trust has filed its monthly report for the period ending August 31, 2024. The Trust will distribute a total of $7.77 million, equating to $0.103632 per trust certificate, to certificateholders of record as of September 9, 2024. The distribution is scheduled for September 10, 2024.
The Trust, established to manage and liquidate properties acquired from J.C. Penney during its Chapter 11 reorganization, manages 160 retail properties and 6 warehouse distribution centers. The Trust aims to sell these properties to third-party purchasers expediently. The Trustee is GLAS Trust Company LLC, and Hilco Real Estate LLC manages the Trust externally.
Investors and stakeholders can access additional information, including the Trust's monthly and quarterly reports, on the Trust's website at www.ctltrust.net. This transparency is critical for maintaining investor confidence and ensuring compliance with regulatory requirements.
The announcement of this distribution underscores the Trust's ongoing efforts to provide value to its certificateholders while navigating the complexities of property management and liquidation. It also reflects the broader implications of retail bankruptcies and the resultant asset management strategies in the commercial real estate sector.
As the Trust continues its liquidation process, stakeholders will be keen to monitor the performance and sale of the remaining properties, which could significantly impact market dynamics and property valuations in the retail and warehouse sectors. For more information, please visit https://ctltrust.net/about/default.aspx.
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