The Copper Property CTL Pass Through Trust reported its monthly financial distribution for January 2025, announcing a total payout of $6.20 million, which translates 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's distribution is lower than its typical monthly amount, primarily due to annual expenses incurred in January, including insurance and trustee fees. The trust also completed its required semi-annual Broker's Opinion of Value (BOV) during the month.
Established as part of J.C. Penney's Chapter 11 reorganization, the trust currently owns 160 retail properties and 6 warehouse distribution centers. Its primary objective is to sell these properties to third-party purchasers as efficiently as possible.
The trust is structured as a liquidating trust for tax purposes and is externally managed by an affiliate of Hilco Real Estate LLC. GLAS Trust Company LLC serves as the trustee.
Investors and market observers should note the trust's ongoing liquidation strategy and the potential impact of annual expenses on monthly distributions. The trust continues to work toward its goal of divesting its property portfolio in a strategic manner.
