Copper Property CTL Pass Through Trust Announces July 2024 Monthly Distribution
TL;DR
Investors will receive $7.61 million distribution from Copper Property CTL Pass Through Trust on August 12, 2024.
Copper Property CTL Pass Through Trust filed a Form 8-K for its monthly report, with additional info accessible on their website.
Copper Property CTL Pass Through Trust aims to sell properties to third-party purchasers as promptly as practicable.
Copper Property CTL Pass Through Trust was established to acquire 160 retail properties and 6 warehouse distribution centers from J.C. Penney.
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The Copper Property CTL Pass Through Trust has disclosed its financial performance for the period ending July 31, 2024, through a Form 8-K filing. The Trust announced an aggregate distribution of $7.61 million, amounting to $0.101477 per trust certificate, to be paid on August 12, 2024, to certificateholders of record as of August 9, 2024.
This announcement is significant as it reflects the ongoing financial health and operational performance of the Trust, which was established to manage and liquidate properties acquired from J.C. Penney during its Chapter 11 reorganization. The distribution underscores the Trust's commitment to returning value to its certificateholders as it continues to manage and sell its portfolio of 160 retail properties and six warehouse distribution centers.
For stakeholders, the regular distributions are a critical indicator of the Trust’s operational success and its ability to generate revenue from leasing and selling its properties. The transparency provided through monthly and quarterly reports, accessible via the Trust’s website at www.ctltrust.net, offers investors crucial insights into the Trust’s financial standing and strategic progress.
The Trust is managed by GLAS Trust Company LLC and externally managed by an affiliate of Hilco Real Estate LLC. It operates as a liquidating trust, aiming to sell its properties to third-party purchasers promptly. The ongoing distributions and sales are essential for maximizing returns to certificateholders.
Investors and market observers can access further details on the Trust’s operations and financial performance through its filings with the Securities and Exchange Commission (SEC) at www.sec.gov. These filings provide comprehensive information on the risks and uncertainties that could impact the Trust’s future performance.
Overall, the July 2024 distribution announcement is a positive indicator of the Trust’s ability to deliver consistent returns to its stakeholders while progressing towards its long-term liquidation objectives.
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