(NEXSTAR) — More than 100 JCPenney stores will soon have a new owner, including the store at RiverTown Crossings in Grandville.

Boston-based Onyx Partners, Ltd. has entered into a purchase and sale agreement with Copper Property CTL Pass Through Trust to buy 119 JCPenney properties, according to a press release. The $947 million all-cash deal is expected to close before September 8.

Somewhere between $928 million and $932 million will be distributed to JCPenney's creditors, principal financial officer Larry Finger said this week, USA Today reported.

Onyx Partners, JCPenney, and Copper Property did not immediately respond to Nexstar's request for additional information. However, in a statement to USA Today and other outlets, a spokesperson for JCPenney said all impacted stores will remai

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