The Copper Property CTL Pass Through Trust has disclosed its monthly report for November 2024, announcing a significant distribution of $7.2 million to its certificateholders. This distribution, amounting to $0.096036 per trust certificate, is scheduled for December 10, 2024, for holders of record as of December 9, 2024. This event marks another step in the Trust's consistent performance and its strategic management of a portfolio comprising 160 retail properties and 6 warehouse distribution centers acquired from J.C. Penney during its Chapter 11 reorganization.
Investors seeking detailed insights into the Trust's operations can access Monthly and Quarterly Reports via the Trust's official website at https://www.ctltrust.net. Additionally, the Trust has submitted a Form 8-K to the Securities and Exchange Commission (SEC), providing a comprehensive overview of its activities up to November 30, 2024. These documents are pivotal for stakeholders to assess the Trust's adherence to its liquidation strategy and the efficacy of its asset management.
Managed by GLAS Trust Company LLC and externally overseen by an affiliate of Hilco Real Estate LLC, the Trust is structured as a liquidating trust under United States Treasury Regulation Section 301.7701-4(d). Its primary mission is the expedient sale of its property holdings to third parties, a process that has so far enabled regular distributions to investors. The November 2024 distribution exemplifies the Trust's ability to generate income from its properties, reinforcing investor confidence in its liquidation approach.
However, the Trust cautions investors about potential risks and uncertainties that could influence its performance, including fluctuations in the real estate market, broader economic conditions, and regulatory changes. These factors, among others, are detailed in the Trust's SEC filings, which investors are urged to review for a fuller understanding of the challenges and opportunities facing the Trust.
As the Trust advances in its liquidation efforts, its monthly distributions and reports remain critical tools for investors to monitor progress and make informed decisions. The consistent delivery of distributions, as seen in the November 2024 report, signals the Trust's ongoing success in managing its portfolio and fulfilling its commitment to certificateholders.
