WESTMORELAND MALL JC PENNEY SOLD

The JC Penney store in the Westmoreland Mall was sold to a private equity firm in Boston.  The Trib reports that it is among 119 stores sold to Onyx Partners, Ltd. for $947 million as part of an all-cash deal to purchase the portfolio from Copper Property CTL Pass Through Trust.  The sale comes about five years after JC Penny filed for Chapter 11 Bankruptcy Protection.  The money will go to the store’s creditors.  The deal is expected to close before September 8th.