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Stock impact report

Texas leads US in major JCPenney deal. Are any stores closing? See 119 stores in sale [USA TODAY]

Simon Property Group, Inc. (SPG) 
Last simon property group, inc. earnings: 2/4 07:30 am Check Earnings Report
US:NYSE Investor Relations: investors.simon.com
Company Research Source: USA TODAY
Texas leads all states in the transaction, with 21 properties included in the acquisition. The all-cash deal, announced July 25, involves an affiliate of Onyx Partners, Ltd. purchasing the net-lease stores from Copper Property CTL Pass Through Trust. The sale is expected to close Sept. 8. Property management company Newmark and Hilco Real Estate had been seeking buyers for these JCPenney locations for Copper Property, a trust formed by JCPenney's lenders as part of the retailer's reorganization after its 2020 bankruptcy filing "The Buyer has now completed its due diligence, and its deposit under the Agreement is non-refundable," Copper Property Trust said in a news release on July 25. Following JCPenney's bankruptcy, Copper Property took control of about 160 JCPenney locations and six distribution centers. Simon Property Group and Brookfield Asset Management Inc. took over JCPenney operations and the remaining locations. The department store chain, which currently has about 65 Show less Read more
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