A portfolio of 119 J.C. Penney stores is being sold for $947 million to private equity firm Onyx Partners by Copper Property CTL Pass Through Trust, an entity formed after the retailer’s 2020 bankruptcy. This all-cash transaction is expected to close by September 8, with the proceeds intended for distribution to creditors. The stores are under a long-term triple-net master lease, meaning J.C. Penney remains responsible for maintenance and carrying costs.