Copper Property CTL Pass Through Trust Releases June 2024 Monthly Report
TL;DR
Copper Property CTL Pass Through Trust will pay an aggregate total distribution of $20.95 million to certificateholders on July 10, 2024.
The Trust's objective is to sell 160 retail properties and 6 warehouse distribution centers acquired from J.C. Penney as part of its Chapter 11 plan of reorganization.
The Trust's operations consist solely of owning, leasing and selling the Properties, aiming to sell them to third-party purchasers as promptly as practicable.
The Trustee of the trust is GLAS Trust Company LLC and the Trust is externally managed by an affiliate of Hilco Real Estate LLC.
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Copper Property CTL Pass Through Trust has officially released its monthly report for the period ending June 30, 2024. According to a Form 8-K filed by the Trust, an aggregate total distribution of $20.95 million, equating to $0.279359 per trust certificate, will be disbursed on July 10, 2024. This payment will be made to certificateholders who are recorded as of July 9, 2024.
The Trust's monthly and quarterly reports, along with other SEC filings, are accessible through its website at www.ctltrust.net. This transparency is crucial for investors and stakeholders to stay informed about the Trust's financial health and operational progress.
Copper Property CTL Pass Through Trust was established to acquire 160 retail properties and six warehouse distribution centers from J.C. Penney as part of the retailer's Chapter 11 reorganization plan. The Trust's primary operations involve owning, leasing, and selling these properties with the objective of liquidating the assets to third-party purchasers as efficiently as possible. GLAS Trust Company LLC acts as the Trustee, while an affiliate of Hilco Real Estate LLC manages the Trust externally.
This announcement is significant for investors and market watchers as it provides an update on the Trust's liquidation efforts and financial distributions. The Trust aims to be treated as a liquidating trust for tax purposes, aligning with United States Treasury Regulation Section 301.7701-4(d). The regular updates and distributions are part of the Trust's strategy to maximize asset value and return for certificateholders.
However, the Trust also issues a cautionary note about forward-looking statements. These statements are based on current expectations, assumptions, and projections, but they are subject to various risks and uncertainties that could cause actual results to differ materially. The Trust advises stakeholders to review its filings with the SEC, available at www.sec.gov, for a comprehensive list of risks and uncertainties that might impact future performance.
In light of these risks, the Trust does not commit to updating or revising any forward-looking statements based on new information or future events unless legally required. This prudent approach underscores the complexity and uncertainty inherent in the Trust's liquidation process.
For additional details on the Trust and its activities, interested parties can visit https://ctltrust.net/about/default.aspx.
Curated from News Direct
