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119 JCPenney Store Locations Sold In Nearly $1 Billion Deal: Is Your City On the List?
119 JCPenney Store Locations Sold In Nearly $1 Billion Deal: Is Your City On the List?

A Boston-based private equity firm will pay $947 million for 119 JCPenney stores , marking the latest shift for the retailer since it filed for bankruptcy five years ago. In a news release , Copper Property CTL Pass Through Trust said it sold 119 JCPenney properties in an all-cash deal to an affiliate of Onyx Partners Ltd. on July 25.  The properties are leased to JCPenney under a long-term agreement where the company is responsible for rent, maintenance, insurance, and taxes. Property management companies Newmark and Hilco Real Estate had been marketing the JCPenney properties on behalf of Copper Property, a trust created by the retailer’s lenders after its 2020 bankruptcy, USA Today reported.  How many JCPenney locations remain? After the retailer filed for bankruptcy, Copper Property assumed control of around 160 stores and six distribution centers. Meanwhile, Simon Property Group and Brookfield Asset Management took over operations and the remaining locations. JCPenney has...

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