Copper Property CTL Pass Through Trust Reports January Distribution, Notes Lower Payout Due to Annual Expenses
TL;DR
Certificateholders of Copper Property CTL Trust will receive a total distribution of $6.20 million on February 10, 2025.
Copper Property CTL Trust filed a Form 8-K for the period ending January 31, 2025, detailing its lower monthly distribution due to annual expenses.
Copper Property CTL Trust aims to sell acquired properties promptly, managed by GLAS Trust Company LLC, making progress towards reorganization and liquidation.
Copper Property CTL Trust's monthly distribution is impacted by annual expenses, showcasing the complex financial operations involved in property trust management.
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The Copper Property CTL Pass Through Trust has released its monthly financial reporting package for January 2025, revealing a total distribution of $6.20 million, equivalent to $0.082711 per trust certificate. The distribution will be paid on February 10, 2025, to certificateholders of record as of February 7, 2025.
The trust noted that the current distribution is lower than its typical monthly payment, primarily due to annual expenses incurred in January. Specifically, the trust paid insurance premiums and trustee fees during this period. Additionally, the trust completed its required semi-annual business valuation (BOV) in January.
Established as part of J.C. Penney's Chapter 11 reorganization plan, the trust owns 160 retail properties and 6 warehouse distribution centers. Its primary objective remains selling these properties to third-party purchasers as promptly as possible.
Investors and stakeholders can access additional detailed information through the trust's monthly and quarterly reports, which are filed with the Securities and Exchange Commission and available on the trust's website.
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