About five years after JCPenney filed for bankruptcy , a Boston private equity firm will pay $947 million for 119 JCPenney stores.

The all-cash sale of 119 JCPenney properties to an affiliate of Onyx Partners, Ltd. was announced by Copper Property CTL Pass Through Trust on July 25. The companies expect a Sept. 8 closing of the deal for the net-lease stores, which pay rent and operating expenses.

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 rele

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