COPPER PPTY CTL PASS CTFS 8-K Filings

Copper Property CTL Pass Through Trust (CPPTL) reported that it has posted Q2‑2026 financial statements for its master lease tenant, Penney Intermediate Holdings LLC (JCPenney’s operating company), and detailed store performance for the master lease portfolio.

For the quarter ended August 1, 2026, Penney Intermediate generated $1.36 billion in total revenues and $54 million in net income, down from $1.48 billion and $110 million a year earlier, with comparable store sales for master lease properties declining 4.7%. Year‑to‑date, revenues were $2.68 billion and net loss $11 million. The master lease portfolio comprises 117 properties totaling 15.47 million square feet, with trailing‑12‑month tenant four‑wall EBITDAR to rent coverage of 1.1x and EBITDAR margin of 12.8%. Penney Intermediate reported $800 million of available liquidity, no borrowings under its $1.75 billion revolver, no long‑term debt outstanding and tangible net worth of $1.96 billion, and remained in liquid assets covenant compliance.

Copper Property CTL Pass Through Trust (CPPTL) reported a Revised 2026 Annual Budget with aggregate budgeted total expenses of $19.5 million, driven primarily by legal costs related to litigation. The Trust also announced a cash distribution of $0.081790 per trust certificate, an aggregate of $6.1 million, payable on September 10, 2026 to certificateholders of record on September 9, 2026.

The Trust filed a monthly reporting package for the period ended August 31, 2026. Copper Property CTL Pass Through Trust was formed to own, lease, and sell 160 retail properties and 6 warehouse distribution centers acquired from J.C. Penney under its Chapter 11 plan, with an objective to dispose of these properties as promptly as practicable as a liquidating trust.

Copper Property CTL Pass Through Trust (CPPTL) reported its August 2026 monthly results and updated its 2026 budget. For the period, the Trust generated $8.29 million of cash from operations, with net cash provided by operations of $6.64 million after operating uses. With no property sales in August, sales-related cash activity was a net use of $0.50 million, resulting in net cash available for distribution of $6.13 million, equal to a cash distribution of $0.081790 per trust certificate, payable September 10, 2026 to holders of record on September 9, 2026. The retail portfolio comprised 117 properties with 15.47 million square feet and current lease year rent of $98.53 million. The Trust disclosed a Revised 2026 Annual Budget with aggregate budgeted total expenses of $19.5 million, stating that this revision is primarily due to legal costs related to litigation. Trailing 12‑month total distributions were $87.49 million, and inception‑to‑date distributions totaled $1.55 billion.

Copper Property CTL Pass Through Trust reported its July 2026 operating results and declared a cash distribution. On August 6, 2026, the Trust made its monthly report for the period ended July 31, 2026 available on its investor website and announced a cash distribution of $0.086363 per trust certificate, payable on August 10, 2026 to certificateholders of record as of August 7, 2026. The press release describes an aggregate total distribution of $6.5 million, supported by net cash available for distribution of $6,477,192.79 across 75,000,000 certificates.

For July 2026, net cash provided by operations was $6,835,836.57, while sales and capital activity produced a net outflow of $358,643.78, primarily from sales-related expenses with no new sales proceeds. Over the trailing 12 months, total distributions were $87,273,875.09, and inception-to-date distributions reached $1,545,259,529.28. The retail portfolio consisted of 117 properties totaling 15,472,339 square feet with current lease-year rent of $98,530,647.00. There were no property sales, substitutions, or new retail leasing activity during the July 2026 period.

Copper Property CTL Pass Through Trust furnished Q1-2026 financial statements and store performance data for its master-lease tenant guarantor, Penney Intermediate Holdings LLC. The retailer generated total revenues of $1,313 million and a net loss of $65 million for the three months ended May 2, 2026, compared with a $69 million net loss a year earlier.

Merchandise inventory was $1.6 billion, slightly below the prior year, and capital expenditures increased to $22 million, focused on customer-facing initiatives. The company ended the quarter with no long-term debt outstanding versus $468 million a year earlier, and net interest expense fell to $2 million from $15 million. Operating cash flow was a use of $419 million, driven mainly by working-capital swings, while management highlighted progress on cost controls, synergy realization and digital and merchandising initiatives.

Copper Property CTL Pass Through Trust released its June 2026 monthly reporting package and announced a new cash distribution. The Trust will pay an aggregate total distribution of $6.3 million, or $0.083641 per trust certificate, on July 10, 2026 to holders of record on July 9, 2026.

For June, net cash provided by operations was $6.88 million, offset by $0.61 million of sales and capital activity uses, resulting in $6.27 million of net cash available for distribution. Over the trailing 12 months, total distributions reached $87.85 million, and since inception they totaled $1.54 billion, highlighting the Trust’s ongoing liquidation and cash return strategy.

Copper Property CTL Pass Through Trust filed an 8-K to share the Fiscal Year 2025 Narrative Report of Penney Intermediate Holdings LLC, available on its investor website and attached as Exhibit 99.1. The report describes a year of softer retail traffic and margin pressure but ongoing focus on value-oriented merchandising and customer engagement, including the “Really Big Deals” events and the “Yes, JCPenney!” brand platform.

Several categories such as Activewear, Fine Jewelry, Home, Intimates and Beauty performed well, supported by initiatives like launching Nike in 175 stores and expanding JCPenney Beauty and Salon. Gross margin percentage declined by about 150 basis points due to higher tariffs, mix shifts and promotions, but selling, general and administrative expenses fell by $226 million and estimated Adjusted EBITDA was about $168 million versus $172 million in Fiscal 2024.

The narrative highlights balance sheet repair: net interest expense fell by $27 million, a capital contribution was used to fully extinguish the ABL FILO Facility and Term Loan, and the company ended the year with no long-term debt. Operating cash flow rose to $180 million, inventory was $1.5 billion (down about 4.1%), and capital expenditures of $166 million supported customer experience, omnichannel capabilities, technology and infrastructure.

Copper Property CTL Pass Through Trust reported its May 2026 monthly results and declared a new cash distribution. Net cash from operations was $6,880,386.17, driven primarily by retail master lease rent of $8,210,887.28, after operating expenses and other uses of cash.

The Trust reported no property sales for the month, with net cash used in sales and capital activity of $16,221.01, resulting in total net cash available for distribution of $6,864,165.16. This equates to a total distribution of $0.091522 per trust certificate, payable on June 10, 2026 to holders of record as of June 9, 2026. Over the trailing 12 months, total cash distributions were $88.47 million, and inception-to-date distributions reached $1.53 billion.

Copper Property CTL Pass Through Trust released its April 2026 monthly report and confirmed a cash distribution of $0.086440 per trust certificate, totaling $6,483,005.39, payable on May 11, 2026 to holders of record as of May 8, 2026.

For April, the Trust generated $8.29 million in cash from operations and incurred $1.78 million in operating uses, resulting in $6,513,137.12 of net cash from operations. Sales and capital activity reduced cash by $30,131.73, producing net cash available for distribution of $6.48 million.

The trailing 12-month total distributions were $109.2 million, and inception-to-date distributions reached $1.53 billion. The retail portfolio comprised 117 properties with 15,472,339 square feet and current lease year rent of $98,530,647.00, illustrating the income base supporting ongoing payouts.

Copper Property CTL Pass Through Trust filed an 8-K to share Q4 2025 Master Lease JCP store performance data and attached a detailed store reporting package and press release. The portfolio covers 117 properties totaling 15.47 million square feet.

For fiscal Q4 2025, tenant sales averaged $23 per square foot, with tenant four-wall EBITDAR of $46.7 million and an EBITDAR-to-rent coverage ratio of 1.5x. On a trailing 12‑month basis, sales were $73 per square foot, EBITDAR was $156.0 million, and coverage was 1.2x.

Master lease comparable store sales declined 4.9% in fiscal Q4 2025 and 2.6% for the trailing 12 months, but liquid assets remained in covenant compliance and tangible net worth was reported at $1,773 million. The Trust reiterates that its operations focus on owning, leasing and selling the JCP properties.

Copper Property CTL Pass Through Trust reported its March 2026 monthly results and declared a new cash distribution. The Trust will pay an aggregate total distribution of about $6.1 million, or $0.081082 per trust certificate, on April 10, 2026 to holders of record as of April 9, 2026.

For March, net cash provided by operations was $6,206,953.14, while sales and capital activity reduced cash by $125,799.00, resulting in net cash available for distribution of $6,081,154.14. The report also shows trailing 12‑month total distributions of $109,858,636.85 and inception‑to‑date distributions of $1,519,162,087.82, highlighting the ongoing liquidation and monetization of the Trust’s real estate portfolio.

Copper Property CTL Pass Through Trust released its monthly report for the period ended February 28, 2026 and declared a new cash distribution. The Trust will pay an aggregate total distribution of $6.2 million, or $0.082844 per trust certificate, on March 10, 2026 to holders of record as of March 9, 2026.

For February 2026, net cash provided by operations was $6.47 million, while sales and capital activity reduced cash by $0.26 million, resulting in $6.21 million of net cash available for distribution. No new property sales or retail leasing activity occurred during the month, and cumulative distributions since inception total $1.51 billion.

Copper Property CTL Pass Through Trust filed a current report describing a communication of tax information to its investors. On February 13, 2026, the Trust posted the estimated Federal income tax details for its 2025 earnings on its website and furnished a related press release as an exhibit.

The press release notes that final 2025 tax information is expected to be available by March 31, 2026, and provides a specific web page where certificateholders can download the materials. The Trust emphasizes that this material is not tax advice and encourages certificateholders to consult their own tax advisors regarding the treatment of Trust distributions.

Copper Property CTL Pass Through Trust filed a current report describing recent investor communications and a new cash distribution. The Trust posted its monthly report for the period ending January 31, 2026 on its investor website and furnished it as Exhibit 99.1.

The Trust also announced a cash distribution of $0.062971 per trust certificate, payable on February 10, 2026 to certificateholders of record as of February 9, 2026. This distribution announcement was made by press release, which is included as Exhibit 99.2.

Copper Property CTL Pass Through Trust reported that it has made new financial information available related to its key tenant, Penney Intermediate Holdings LLC. On January 12, 2026, the Trust posted Penney’s Q3-2025 consolidated financial statements for the periods ended November 1, 2025 and November 2, 2024 on its investor website, along with Q3-2025 Master Lease JCP store performance disclosures.

The Trust also issued a press release the same day describing the release of these financial statements and store performance details. Both the reporting package and the press release are furnished as exhibits to this report and are not treated as filed for liability purposes under the securities laws.

Copper Property CTL Pass Through Trust reported that it has posted its monthly report for the period ending December 31, 2025 on its investor website, providing certificateholders with updated trust information. The trust also announced a cash distribution of $0.112130 per trust certificate, payable on January 12, 2026 to certificateholders of record as of January 9, 2026.

Copper Property CTL Pass Through Trust reported its 2026 annual budget, with an aggregate budgeted total expense amount of $15,800,000. This figure reflects what the Trust currently plans to spend on its operations and related costs during 2026.

The Trust also noted that a press release has been issued and filed as an exhibit, and included standard cautionary language that certain statements about potential property sales, timing of transactions, and distributions are forward-looking and subject to risks and uncertainties.

Copper Property CTL Pass Through Trust reported that its Purchase and Sale Agreement with an affiliate of Onyx Partners, Ltd. for the sale of its remaining property portfolio terminated in accordance with its terms on December 26, 2025 after the Buyer failed to close. The Buyer has sued the Trust seeking specific performance or, alternatively, damages, while the Trust states it believes it has strong defenses and plans to contest the lawsuit and pursue its own claims and remedies.

The Trust holds $2 million of the Buyer’s total $5 million deposit and is seeking the remaining $3 million from the escrow agent, which the Buyer disputes. The $2 million is expected to be distributed to certificateholders of record on January 9, 2026 as part of the next monthly cash distribution. The Trust plans to end its prior marketing process and review new strategic alternatives for its remaining portfolio in early 2026, including potential sales, financings and other transactions.

Copper Property CTL Pass Through Trust reported that its previously announced sale transaction with an affiliate of Onyx Partners, Ltd. of Boston, MA did not close as expected. Under the existing Purchase and Sale Agreement, the Trust has sent the buyer a notice confirming that if the buyer does not complete the transaction by December 26, 2025, the agreement will terminate. The Trust also cautions that statements about the proposed sale of properties, the timing of the transaction, and the potential distribution of proceeds are forward-looking and subject to risks and uncertainties.

Copper Property CTL Pass Through Trust announced that, under its Purchase and Sale Agreement covering the Trust’s portfolio of remaining properties, the scheduled closing date has been extended to December 22, 2025. Any additional extension beyond this new date would require approval from a majority of the Trust’s Certificateholders.

The Trust explains that the extension is intended to allow enough time to complete all steps needed to close the transaction and states that it continues to strongly believe the sale will close in line with the Agreement’s terms. A related press release dated December 9, 2025 provides further detail on the announced update.

Copper Property CTL Pass Through Trust reported that it has posted its monthly report for the period ending November 30, 2025 on its investor website. This report, also attached as an exhibit, provides investors with updated information on the Trust’s performance and activities for the month.

The Trust also announced a cash distribution of $0.090060 per trust certificate, to be paid on December 10, 2025 to certificateholders of record as of December 9, 2025. This reflects the Trust’s ongoing practice of returning cash generated from its underlying assets to certificateholders.

Copper Property CTL Pass Through Trust reported a change to its operating plan. The Trust revised its 2025 annual budget to $15.0 million in operating expenses, citing primarily unanticipated legal costs. Management disclosed this update under “Other Events.”

The Trust also noted forward-looking considerations regarding the proposed sale of properties, the expected timing of any transaction, and anticipated distribution of proceeds. A related press release is included as Exhibit 99.1 for additional context.

Copper Property CTL Pass Through Trust reported an update on its portfolio sale process. Under the existing Purchase and Sale Agreement, the Buyer has increased its deposit and the scheduled closing date has been extended to December 8, 2025. The Trust states this is the last extension option available to the Buyer under the Agreement.

The extension is intended to allow enough time to complete all steps required for closing. The Trust states it continues to strongly believe that all conditions for closing under the Agreement will be satisfied and that the closing will occur in accordance with the Agreement. A related press release is included as Exhibit 99.1.

Copper Property CTL Pass Through Trust reported two updates. The Trust posted its monthly report for the period ending October 31, 2025 on its investor website and furnished it as Exhibit 99.1.

It also announced a cash distribution of $0.073336 per trust certificate, payable on November 10, 2025 to holders of record as of November 7, 2025, as disclosed in a press release furnished as Exhibit 99.2.

Copper Property CTL Pass Through Trust reported that on October 7, 2025, certificateholders holding a majority of the Trust’s outstanding certificates delivered a written Direction Letter to GLAS Trust Company LLC, as Trustee. Effective immediately, the Trustee is directed (i) not to amend, modify, supplement or waive any provision of the Purchase and Sale Agreement without consent of the Majority Certificateholders, (ii) not to extend or delay the closing under that agreement except as permitted by its terms without such consent, and (iii) to take actions necessary to give effect to these instructions. The Direction Letter is filed as Exhibit 99.1.

Copper Property CTL Pass Through Trust filed a current report to inform investors that it has made available the Q2-2025 consolidated financial statements of Penney Intermediate Holdings LLC for the periods ended August 2, 2025 and August 3, 2024. These financial statements are accessible via the Trust’s investor website and are also included as Exhibit 99.1.

The Trust also issued a press release announcing the release of these Q2-2025 financial statements, which is attached as Exhibit 99.2

Copper Property CTL Pass Through Trust filed an update explaining that the scheduled closing date for the sale of its remaining property portfolio under its Purchase and Sale Agreement has been extended to November 7, 2025, with the possibility of further extensions in certain circumstances.

The date change is intended to allow enough time to complete all steps required for closing. The Trust states it continues to strongly believe that all conditions to closing under the Agreement will be satisfied and that the transaction will close in line with the Agreement’s terms and time frames. The Trust also notes that forward-looking statements about the sale, timing, and distribution of proceeds are subject to risks and uncertainties.

The company filed a Form 8-K reporting a material event and attached three exhibits: Exhibit 99.1 — a Monthly Report dated October 9, 2025, Exhibit 99.2 — a Store Reporting Package, and Exhibit 99.3 — a Press Release dated October 7, 2025. The filing notes that certain schedules and similar attachments were omitted from the submitted exhibits and that the company will furnish any omitted schedule or attachment to the SEC upon request.