Exhibit 99.1 | ||
![]() | ||
Monthly/Quarterly Reporting Package | ||
March 2022 |
![]() | Contact Us For additional information, please contact: Investor Relations at (310) 526-1707 | Distribution Date: 04/11/2022 Record Date: 04/08/2022 Determination Date: 03/31/2022 |
SECTION I- Monthly Reporting Schedules | |||||
Master Lease Retail Tenant Operating Performance for Retail Portfolio as of Determination Date | |||||
Master Lease Subtenants as of Fiscal Year Ended January 29, 2022 | |||||
SECTION IV – Provided Quarterly – Penney Intermediate Holdings LLC Financial Statements | |||||
Consolidated Statement of Operations | N/A | ||||
Consolidated Balance Sheet | N/A | ||||
Consolidated Statement of Member’s Equity | N/A | ||||
Consolidated Statement of Cash Flows | N/A | ||||
Notes to the Consolidated Financial Statements | N/A | ||||
Narrative Report | N/A | ||||
Statement of Consolidated Adjusted EBITDA | N/A | ||||
SECTION V – Definitions and Disclaimers | |||||
Definitions | |||||
Disclaimer |
Trustee | Manager | |||||||||||||
GLAS Trust Company, LLC | Hilco JCP, LLC | |||||||||||||
3 Second Street, Suite 206 | 5 Revere Drive, Suite 410 | |||||||||||||
Jersey City, NJ 07311 | Northbrook, IL | |||||||||||||
Contact: Yana Kislenko | Contact: Larry Finger | |||||||||||||
Phone: 201-839-2183 | Phone: 703-244-4588 | |||||||||||||
Email: yana.kislenko@glas.agency | Email: lfinger@ctltrust.net |
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CUSIP | Aggregate Certificates Outstanding | Aggregate Net Sales Proceeds Distribution | Aggregate Net Operations Distribution | Aggregate Total Distribution | ||||||||||||||||
217519107 | 75,000,000 | $(186,837.75) | $8,249,305.19 | $8,062,467.44 |
Per Certificate | ||||||||||||||||||||
CUSIP | Aggregate Certificates Outstanding | Aggregate Net Sales Proceeds Distribution | Aggregate Net Operations Distribution | Aggregate Total Distribution | ||||||||||||||||
217519107 | 75,000,000 | $(0.002491) | $0.109991 | $0.107500 |
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Sources of Cash from Operations | Uses of Cash from Operations | |||||||||||||
Distribution Center Master Lease Rent | $ | — | Accounting and Financial Reporting | $ | 117,822.00 | |||||||||
Retail Master Lease Rent | 9,218,296.58 | Investor Relations | 183,682.76 | |||||||||||
Total Rent | $ | 9,218,296.58 | Legal | 98,214.25 | ||||||||||
Insurance | — | |||||||||||||
Sales & Use Tax Recovery | $ | 61,073.64 | Management Fees -Operations and Other Professional Fees | 530,052.00 | ||||||||||
Other | $ | 762.24 | BOV’s and Other | 9,698.71 | ||||||||||
Total Other Sources of Cash | $ | 61,835.88 | Total Operating Expenses | $ | 939,469.72 | |||||||||
Taxes to be Recovered from Tenant | $ | 91,357.55 | ||||||||||||
Formation, Closing & Related Costs | — | |||||||||||||
Total Other Uses of Cash | $ | 91,357.55 | ||||||||||||
Total Sources of Cash from Operations | $ | 9,280,132.46 | Total Uses of Cash from Operations | $ | 1,030,827.27 |
Sources of Cash from Sales / Capital Activity | Uses of Cash from Sales / Capital Activity | |||||||||||||
Distribution Center Gross Sales Proceeds | $ | — | Management Fees -Sales | $ | — | |||||||||
Retail Master Lease Gross Sales Proceeds | — | Third Party Expenses: Distribution Center Sales | — | |||||||||||
Total Gross Sales Proceeds | $ | — | Third Party Expenses: Retail Sales | 3,070.00 | ||||||||||
Prepaid Sales Expenses | 183,767.75 | |||||||||||||
Other Financing / Capital Activity | $ | — | Other | — | ||||||||||
Other | — | Total Expenses of Sales | $ | 186,837.75 | ||||||||||
Total Other | $ | — | Cash Provided (Used) Sales / Capital Activity | — | ||||||||||
Total Sources of Cash from Sales / Capital Activity | $ | — | Total Uses of Cash from Sales / Capital Activity | $ | 186,837.75 |
Net Cash Available for Distribution | |||||
Total Sources of Cash from Operations | $ | 9,280,132.46 | |||
Total Uses of Cash from Operations | (1,030,827.27) | ||||
Net Cash Provided by Operations | $ | 8,249,305.19 | |||
Total Sources of Cash from Sales / Capital Activity | $ | — | |||
Total Uses of Cash from Sales / Capital Activity | (186,837.75) | ||||
Net Cash Provided by Sales / Capital Activity | $ | (186,837.75) | |||
Net Cash Available for Distribution | $ | 8,062,467.44 |
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![]() | Contact Us For additional information, please contact: Investor Relations at (310) 526-1707 | Distribution Date: 04/11/2022 Record Date: 04/08/2022 Determination Date: 03/31/2022 |
Distribution Date | Net Rental Income Distribution | Sales and Capital Activity Distribution | Total Distributions | ||||||||
11-Apr-22 | $8,249,305.19 | $(186,837.75) | $8,062,467.44 | ||||||||
10-Mar-22 | 8,368,341.85 | (110,600.00) | 8,257,741.85 | ||||||||
10-Feb-22 | 3,606,005.38 | 20,793,303.11 | 24,399,308.49 | ||||||||
10-Jan-22 | 5,557,146.98 | 595,294,173.94 | 600,851,320.92 | ||||||||
10-Dec-21 | 6,532,239.75 | 50,434,348.59 | 56,966,588.34 | ||||||||
10-Nov-21 | 6,187,382.35 | — | 6,187,382.35 | ||||||||
12-Oct-21 | 6,484,666.36 | 118,150,023.75 | 124,634,690.11 | ||||||||
10-Sept-21 | 6,642,375.46 | — | 6,642,375.46 | ||||||||
10-Aug-21 | 6,837,204.31 | 31,544,164.52 | 38,381,368.83 | ||||||||
12-July-21 | 6,822,411.96 | — | 6,822,411.96 | ||||||||
10-June-21 | 6,449,331.63 | — | 6,449,331.63 | ||||||||
10-May-21 | 6,915,430.00 | — | 6,915,430.00 | ||||||||
Trailing 12 mos. | $78,651,841.22 | $815,918,576.16 | $894,570,417.38 | ||||||||
Inception to Date | $87,117,951.92 | $815,918,576.16 | $903,036,528.08 |
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Sale Date | Property ID | Property Name | Square Feet | Rent for Lease Year at Closing Date 1 | Gross GAAP Basis 2 | Gross Sales Price | Net Sales Price3 | Net Sales Price Per Square Foot | Implied Cap. Rate/ Rent Yield at Closing 4 | Selling Cost | Selling Costs as Percentage of Gross Sales Price5 | Selling Broker | ||||||||||||||||||||||||||
Retail Property Sales This Month | ||||||||||||||||||||||||||||||||||||||
Total Retail Property Sales this Month | — | $— | $— | $— | $— | $— | —% | $— | —% | |||||||||||||||||||||||||||||
Distribution Center Property Sales This Month | ||||||||||||||||||||||||||||||||||||||
Total Distribution Center Properties this Month | — | $— | $— | $— | $— | $— | —% | $— | —% | |||||||||||||||||||||||||||||
Total Property Sales this Month | — | $— | $— | $— | $— | $— | —% | $— | —% | |||||||||||||||||||||||||||||
Property Sales this Month Average | — | $— | $— | $— | $— | $— | —% | $— | —% | |||||||||||||||||||||||||||||
Retail Properties | 2,226,491 | $10,607,823 | $210,500,000 | $276,850,000 | $276,850,000 | $124.34 | 3.83% | $11,558,357 | 4.17% | |||||||||||||||||||||||||||||
Distribution Centers | 10,108,611 | 35,380,000 | 497,900,000 | 557,165,354 | 557,165,354 | $55.12 | 6.35% | 7,872,646 | 1.41% | |||||||||||||||||||||||||||||
Previous Distribution Period Total: | 12,335,102 | 45,987,823 | 708,400,000 | 834,015,354 | 834,015,354 | $67.61 | 5.51% | 19,431,003 | 2.33% | |||||||||||||||||||||||||||||
Previous Distribution Periods Average: | 616,755 | $2,299,391 | $35,420,000 | $41,700,768 | $41,700,768 | $67.61 | 5.51% | $971,550 | 2.33% | |||||||||||||||||||||||||||||
Retail Properties | 2,226,491 | $10,607,823 | $210,500,000 | $276,850,000 | $276,850,000 | $124.34 | 3.83% | $11,558,357 | 4.17% | |||||||||||||||||||||||||||||
Distribution Centers | 10,108,611 | 35,380,000 | 497,900,000 | 557,165,354 | 557,165,354 | 55.12 | 6.35% | 7,872,646 | 1.41% | |||||||||||||||||||||||||||||
Cumulative Distribution to Date Total: | 12,335,102 | 45,987,823 | 708,400,000 | 834,015,354 | 834,015,354 | 67.61 | 5.51% | 19,431,003 | 2.33% | |||||||||||||||||||||||||||||
Cumulative Distribution to Date Average: | 616,755 | $2,299,391 | $35,420,000 | $41,700,768 | $41,700,768 | $67.61 | 5.51% | $971,550 | 2.33% |
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By Current Lease Year Rent Per Square Foot Tier: | By Property Ownership Type: | |||||||||||||||||||||||||
Tier | Properties | Square Feet | Current Lease Year Rent 1 | Ownership Type | Properties | Square Feet | Current Lease Year Rent 1 | |||||||||||||||||||
Tier 1 -$9.00 | 32 | 3,987,421 | $35,886,789.00 | Owned | 124 | 16,368,203 | $92,839,179.00 | |||||||||||||||||||
Tier 2 -$6.00 | 76 | 9,919,346 | 59,516,076.00 | Ground Lease | 22 | 3,117,253 | 17,780,380.00 | |||||||||||||||||||
Tier 3 -$3.50 | 18 | 2,706,208 | 9,471,732.00 | |||||||||||||||||||||||
Tier 4 -$2.00 | 20 | 2,872,481 | 5,744,962.00 | |||||||||||||||||||||||
Total: | 146 | 19,485,456 | $110,619,559.00 | Total: | 146 | 19,485,456 | $110,619,559.00 |
By Current Lease Year Rent Per Property: | By Property Type: | |||||||||||||||||||||||||
Tier | Properties | Square Feet | Current Lease Year Rent 1 | Property Type | Properties | Square Feet | Current Lease Year Rent 1 | |||||||||||||||||||
>=$950,000 | 35 | 5,965,817 | $43,289,586.00 | Shopping Center | 32 | 3,226,528 | $20,536,440.00 | |||||||||||||||||||
>=$700,000 & <$950,000 | 39 | 5,090,261 | 33,408,901.00 | Freestanding | 4 | 372,420 | 2,533,116.00 | |||||||||||||||||||
>=$500,000 & <$700,000 | 39 | 4,349,021 | 22,894,280.00 | Mall | 110 | 15,886,508 | 87,550,003.00 | |||||||||||||||||||
<=$500,000 | 33 | 4,080,357 | 11,026,792.00 | |||||||||||||||||||||||
Total: | 146 | 19,485,456 | $110,619,559.00 | Total: | 146 | 19,485,456 | $110,619,559.00 |
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By Geography: | ||||||||||||||||||||||||||
State | Properties | Square Feet | Current Lease Year Rent 1 | |||||||||||||||||||||||
AR | 2 | 186,745 | $1,120,470.00 | MO | 2 | 229,828 | 1,378,968.00 | |||||||||||||||||||
AZ | 4 | 492,446 | 3,530,733.00 | MS | 1 | 99,396 | 894,564.00 | |||||||||||||||||||
CA | 24 | 3,536,960 | 20,487,739.00 | NC | 1 | 104,198 | 208,396.00 | |||||||||||||||||||
CO | 3 | 361,775 | 1,376,834.00 | NH | 2 | 230,842 | 1,122,962.00 | |||||||||||||||||||
CT | 3 | 464,682 | 929,364.00 | NJ | 5 | 882,946 | 3,510,571.00 | |||||||||||||||||||
DE | 1 | 159,878 | 959,268.00 | NM | 2 | 265,910 | 2,014,848.00 | |||||||||||||||||||
FL | 9 | 1,292,316 | 9,874,971.00 | NV | 3 | 437,937 | 3,941,433.00 | |||||||||||||||||||
GA | 2 | 204,634 | 1,143,372.00 | NY | 3 | 469,462 | 1,604,204.00 | |||||||||||||||||||
IA | 1 | 85,278 | 298,473.00 | OH | 5 | 645,447 | 3,504,477.00 | |||||||||||||||||||
ID | 1 | 151,985 | 1,367,865.00 | OK | 3 | 332,223 | 1,494,714.00 | |||||||||||||||||||
IL | 5 | 845,224 | 4,414,248.00 | OR | 1 | 157,928 | 947,568.00 | |||||||||||||||||||
IN | 1 | 99,317 | 893,853.00 | PA | 4 | 555,087 | 2,984,042.00 | |||||||||||||||||||
KS | 2 | 316,856 | 1,471,852.00 | PR | 2 | 185,946 | 1,115,676.00 | |||||||||||||||||||
KY | 2 | 251,289 | 1,821,111.00 | TN | 3 | 347,331 | 1,241,828.00 | |||||||||||||||||||
LA | 2 | 229,181 | 1,749,054.00 | TX | 24 | 2,536,198 | 16,841,806.00 | |||||||||||||||||||
MA | 1 | 141,692 | 495,922.00 | UT | 1 | 99,411 | 347,939.00 | |||||||||||||||||||
MD | 4 | 559,312 | 2,424,176.00 | VA | 5 | 736,563 | 3,330,898.00 | |||||||||||||||||||
MI | 6 | 863,012 | 3,699,718.00 | WA | 4 | 666,272 | 4,515,948.00 | |||||||||||||||||||
MN | 1 | 173,968 | 1,043,808.00 | WI | 1 | 85,981 | 515,886.00 | |||||||||||||||||||
Total: | 146 | 19,485,456 | $110,619,559.00 |
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Property ID | 9005 | 9130 | 9132 | 9316 | 9435 | 9486 | |||||||||||||||||
Location | Statesville, NC | Columbus, OH | Lenexa, KS | Reno, NV | Haslet, TX | Forest Park, GA | |||||||||||||||||
Square Feet | New JCP | — | — | — | — | — | — | ||||||||||||||||
Other Tenants | — | — | — | — | — | — | |||||||||||||||||
Vacant | — | — | — | — | — | — | |||||||||||||||||
Total | — | — | — | — | — | — | |||||||||||||||||
Current Lease Year Rent 1 | New JCP | — | — | — | — | — | — | ||||||||||||||||
Other Tenants | — | — | — | — | — | — | |||||||||||||||||
Total | — | — | — | — | — | — | |||||||||||||||||
Current Lease Year Rent - PSF 2 | New JCP | — | — | — | — | — | — | ||||||||||||||||
Other Tenants | — | — | — | — | — | — | |||||||||||||||||
Total | — | — | — | — | — | — |
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Property ID | Option Type | Property Name | Location | Square Feet | Current Lease Year Rent 1 | Option Notice (Y/N) | Option Exercise / Closing Date | ||||||||||||||||
246 | Landlord | SouthBay Pavilion at Carson | 20700 Avalon Boulevard, Carson, CA | N/A | N/A | N | Property Sold 09-30-21 | ||||||||||||||||
389 | Landlord | Stoneridge S/C | 1500 Stoneridge Mall Road, Pleasanton, CA | 155,919 | 311,838.00 | N | |||||||||||||||||
1229 | Landlord | The Oaks | 280 Hillcrest Drive W, Thousand Oaks, CA | 144,959 | 289,918.00 | N | |||||||||||||||||
1572 | Landlord | Westfield Culver City | 6000 S Hannum Avenue, Culver City, CA | N/A | N/A | N | Property Sold 01-06-22 | ||||||||||||||||
1959 | Landlord | The Shops at Tanforan | 1122 El Camino Real, San Bruno, CA | N/A | N/A | N | Property Sold 09-14-21 | ||||||||||||||||
1417 | Landlord | Westfield Santa Anita | 400 S Baldwin Avenue, Arcadia, CA | 204,563 | 715,971.00 | N | |||||||||||||||||
1950 | Landlord | Fashion Valley | 6987 Friars Road, San Diego, CA | N/A | N/A | N | Property Sold 07-09-21 | ||||||||||||||||
2649 | Landlord | Westminster Mall | 400 Westminster Mall, Westminster, CA | 152,567 | 533,985.00 | N | |||||||||||||||||
2757 | Landlord | Park Meadows | 8417 S Park Meadows Center Drive, Loan Tree CO | N/A | N/A | N | Property Sold 07-29-21 | ||||||||||||||||
2256 | Landlord | Danbury Fair | 7 Backus Avenue, Danbury, CT | 136,375 | 272,750.00 | N | |||||||||||||||||
2102 | Landlord | Westfield Annapolis | 1695 Annapolis Mall, Annapolis, MD | 126,732 | 760,392.00 | N | |||||||||||||||||
1623 | Landlord | Twelve Oaks Mall | 27150 Novi Road, Novi, MI | 155,807 | 545,325.00 | N | |||||||||||||||||
2247 | Landlord | Pheasant Lane Mall | 310 Daniel Webster Highway, Suite 103, Nashua, NH | 104,836 | 366,926.00 | N | |||||||||||||||||
2297 | Landlord | Newport Centre | 10 Mall Drive W, Jersey City, NJ | 185,330 | 648,655.00 | N | |||||||||||||||||
2477 | Landlord | Freehold Raceway Mall | 3710 Highway 9, Freehold, NJ | 149,608 | 299,216.00 | N | |||||||||||||||||
2814 | Landlord | Queens Center | 92-59 59th Avenue. Elmhurst, NY | N/A | N/A | N | Property Sold 12-23-21 | ||||||||||||||||
197 | Landlord | Gateway Shopping Center I & | II360 Gateway Drive, Brooklyn, NY | 123,942 | 247,884.00 | N | |||||||||||||||||
2040 | Landlord | Barton Creek Square | 2901 S Capitol of Texas Highway, Austin, TX | 144,129 | 864,774.00 | N | |||||||||||||||||
2763 | Landlord | The Woodlands Mall | 1201 Lake Woodlands Drive, Suite 500, Woodlands, TX | 146,000 | 511,000.00 | N | |||||||||||||||||
2795 | Landlord | Stonebriar Centre | 2607 Preston Road, Frisco, TX | N/A | N/A | N | Property Sold 07-29-21 | ||||||||||||||||
2881 | Landlord | Memorial City S/C | 300 Memorial City Way, Houston, TX | N/A | N/A | N | Property Sold 11-03-21 | ||||||||||||||||
192 | Landlord | Fair Oaks Mall | 11801 Fair Oaks Mall, Fairfax, VA | 193,422 | 386,844.00 | N | |||||||||||||||||
1462 | Landlord | Springfield Town Center | 6699 Springfield Mall, Springfield, VA | 205,772 | 1,234,632.00 | N | |||||||||||||||||
2865 | Tenant | Tamarack Village | 8348 Tamarack Village, Woodbury, MN | N/A | N/A | N | Property Sold 12-29-21 | ||||||||||||||||
2801 | Tenant | Polaris Fashion Place | 1450 Polaris Parkway, Columbus, OH | 146,990 | 881,940.00 | N | |||||||||||||||||
2921 | Tenant | Robertson’s Creek | 5751 Long Prairie Road, Flower Mound, TX | N/A | N/A | N | Property Sold 11-19-21 | ||||||||||||||||
2934 | Tenant | University Oaks S/C | 151 University Oaks, Round Rock, TX | N/A | N/A | N | Property Sold 11-19-21 | ||||||||||||||||
2982 | Tenant | Village at Fairview | 301 Stacy Road, Fairview, TX | N/A | N/A | N | Property Sold 11-19-21 | ||||||||||||||||
2749 | Tenant | Dulles Town Centre | 21030 Dulles Town Circle, Sterling, VA | 125,917 | 440,710.00 | N | |||||||||||||||||
Total: | 2,602,868 | $9,312,760.00 |
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Property ID | Property Name | Property Location | Substitution Type (Outgoing / Incoming) | Square Feet | Current Lease Year Rent 1 | Notice Date | Exercise Date | ||||||||||||||||
— | $ | — | |||||||||||||||||||||
Total: |
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Property ID | Lease Start Date | Tenant Name | Square Feet | Current Lease Year Rent - PSF 1 | Current Lease Year Rent 2 | Real Estate Operating Expenses | Initial Term (Months) | Extension Options (Years) | Tenant Business Description | Manager Commentary | ||||||||||||||||||||||
— | — | $ | — | |||||||||||||||||||||||||||||
Total: | — | — | $ | — |
www.ctltrust.net | 14 |
![]() | Contact Us For additional information, please contact: Investor Relations at (310) 526-1707 | Distribution Date: 04/11/2022 Record Date: 04/08/2022 Determination Date: 03/31/2022 |
Property ID | Lease Start Date | Tenant Name | Square Feet | Current Lease Year Rent - PSF 1 | Current Lease Year Rent 2 | Real Estate Operating Expenses | Initial Term (Months) | Extension Options (Years) | Tenant Business Description | Manager Commentary | ||||||||||||||||||||||
— | — | $ | — | |||||||||||||||||||||||||||||
Total: | — | — | $ | — |
www.ctltrust.net | 15 |
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Key Financial and Performance Metrics | Fiscal Year Ended January 29, 2022* | Trailing 12 Months as of January 29, 2022**** | |||||||||
Comparable store sales percent increase / (decrease) for Master Lease Properties ** | 51.8% | 51.8% | |||||||||
Liquid assets covenant compliance (as defined in the Master Leases) | Yes | N/A | |||||||||
Tangible net worth (as defined in the Master Leases - in millions)*** | $1,503 | N/A | |||||||||
Key Portfolio Metrics | Fiscal Year Ended January 29, 2022* | Trailing 12 Months as of January 29, 2022**** | |||||||||
End of period number of stores - fee owned and ground leased | 206 | 206 | |||||||||
End of period number of stores - space leased | 464 | 464 | |||||||||
Gross Square Footage of stores (in millions) | 81.7 | 81.7 |
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Fiscal Year Ended January 29, 2022 * | |||||||||||||||||||||||
Property Ownership | # of Properties | Square Feet | Tenant’s Sales Per Square Foot | Tenant’s Four-Wall EBITDAR | Rent | Tenant’s Four-Wall EBITDA | Tenant’s Four-Wall EBITDAR / Rent | ||||||||||||||||
Fee | 124 | 16,368,203 | $83 | 2.3 | |||||||||||||||||||
Ground Lease | 22 | 3,117,253 | $103 | 2.5 | |||||||||||||||||||
Total | 146 | 19,485,456 | $86 | $355,506,500 | $153,176,564 | $202,329,936 | 2.3 |
Fiscal Year Ended January 29, 2022 * | ||||||||
Rent Tier ** | # of Properties | Square Feet | ||||||
1 > $2.4 | 37 | 4,590,868 | ||||||
2 > $1.9 | 36 | 4,917,463 | ||||||
3 > $1.6 | 36 | 4,505,021 | ||||||
4 < $1.6 | 37 | 5,472,104 | ||||||
Total | 146 | 19,485,456 |
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![]() | Contact Us For additional information, please contact: Investor Relations at (310) 526-1707 | Distribution Date: 04/11/2022 Record Date: 04/08/2022 Determination Date: 03/31/2022 |
Fiscal Year Ended January 29, 2022 * | |||||||||||||||||||||||
Tenant's Sales per Square Foot Tier | # of Properties | Square Feet | Tenant’s Sales Per Square Foot | Tenant’s Four-Wall EBITDAR | Tenant’s Four-Wall EBITDAR to Sales | Tenant’s Four-Wall EBITDA | Tenant’s Four-Wall EBITDAR / Rent | ||||||||||||||||
> $103.7 | 37 | 4,400,992 | $131 | 24.8% | 2.9 | ||||||||||||||||||
> $82.4 | 36 | 4,461,233 | $93 | 21.8% | 2.5 | ||||||||||||||||||
> $66.2 | 36 | 5,271,096 | $74 | 19.2% | 1.9 | ||||||||||||||||||
< $66.2 | 37 | 5,352,135 | $55 | 16.2% | 1.7 | ||||||||||||||||||
Total | 146 | 19,485,456 | $86 | $355,506,500 | 21.2% | $202,329,936 | 2.3 |
Fiscal Year Ended January 29, 2022 * | |||||||||||||||||||||||
EBITDAR / Rent Tier ** | # of Properties | Square Feet | Tenant’s Sales Per Square Foot | Tenant’s Four-Wall EBITDAR | Tenant’s Four-Wall EBITDAR to Sales | Tenant’s Four-Wall EBITDA | Tenant’s Four-Wall EBITDAR / Rent | ||||||||||||||||
> {$3.0}x ** | 28 | 3,050,154 | $116 | 24.6% | 3.5 | ||||||||||||||||||
> {$2.0}x ** | 73 | 9,536,053 | $90 | 22.0% | 2.5 | ||||||||||||||||||
< {$2.0}x ** | 45 | 6,899,249 | $66 | 17.2% | 1.5 | ||||||||||||||||||
Total | 146 | 19,485,456 | $86 | $355,506,500 | 21.2% | $202,329,936 | 2.3 |
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![]() | Contact Us For additional information, please contact: Investor Relations at (310) 526-1707 | Distribution Date: 04/11/2022 Record Date: 04/08/2022 Determination Date: 03/31/2022 |
Trailing 12 Months** | |||||||||||||||||||||||
Property Ownership | # of Properties | Square Feet | Tenant’s Sales Per Square Foot | Tenant’s Four-Wall EBITDAR | Rent | Tenant’s Four-Wall EBITDA | Tenant’s Four-Wall EBITDAR / Rent | ||||||||||||||||
Fee | 124 | 16,368,203 | $83 | 2.3 | |||||||||||||||||||
Ground Lease | 22 | 3,117,253 | $103 | 2.5 | |||||||||||||||||||
Total | 146 | 19,485,456 | $86 | $355,506,500 | $153,176,564 | $202,329,936 | 2.3 |
Trailing 12 Months** | |||||||||||||||||||||||
Rent Tier * | # of Properties | Square Feet | Tenant’s Sales Per Square Foot | Tenant’s Four-Wall EBITDAR | Rent | Tenant’s Four-Wall EBITDA | Tenant’s Four-Wall EBITDAR / Rent | ||||||||||||||||
1 > $9.6 | 37 | 4,579,891 | $124 | 2.6 | |||||||||||||||||||
2 > $7.6 | 36 | 5,033,048 | $84 | 2.2 | |||||||||||||||||||
3 > $6.8 | 36 | 4,601,369 | $81 | 2.2 | |||||||||||||||||||
4 < $6.8 | 37 | 5,271,148 | $59 | 2.1 | |||||||||||||||||||
Total | 146 | 19,485,456 | $86 | $355,506,500 | $153,176,564 | $202,329,936 | 2.3 |
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![]() | Contact Us For additional information, please contact: Investor Relations at (310) 526-1707 | Distribution Date: 04/11/2022 Record Date: 04/08/2022 Determination Date: 03/31/2022 |
Trailing 12 Months * | |||||||||||||||||||||||
Tenant's Sales per Square Foot Tier | # of Properties | Square Feet | Tenant’s Sales Per Square Foot | Tenant’s Four-Wall EBITDAR | Tenant’s Four-Wall EBITDAR to Sales | Tenant’s Four-Wall EBITDA | Tenant’s Four-Wall EBITDAR / Rent | ||||||||||||||||
> $103.7 | 37 | 4,400,992 | $131 | 24.8% | 2.9 | ||||||||||||||||||
> $82.4 | 36 | 4,461,233 | $93 | 21.8% | 2.5 | ||||||||||||||||||
> $66.2 | 36 | 5,271,096 | $74 | 19.2% | 1.9 | ||||||||||||||||||
< $66.2 | 37 | 5,352,135 | $55 | 16.2% | 1.7 | ||||||||||||||||||
Total | 146 | 19,485,456 | $86 | $355,506,500 | 21.2% | $202,329,936 | 2.3 |
Trailing 12 Months * | |||||||||||||||||||||||
EBITDAR / Rent Tier ** | # of Properties | Square Feet | Tenant’s Sales Per Square Foot | Tenant’s Four-Wall EBITDAR | Tenant’s Four-Wall EBITDAR to Sales | Tenant’s Four-Wall EBITDA | Tenant’s Four-Wall EBITDAR / Rent | ||||||||||||||||
> {$3.0}x ** | 28 | 3,050,154 | $116 | 24.6% | 3.5 | ||||||||||||||||||
> {$2.0}x ** | 73 | 9,536,053 | $90 | 22.0% | 2.5 | ||||||||||||||||||
< {$2.0}x ** | 45 | 6,899,249 | $66 | 17.2% | 1.5 | ||||||||||||||||||
Total | 146 | 19,485,456 | $86 | $355,506,500 | 21.2% | $202,329,936 | 2.3 |
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![]() | Contact Us For additional information, please contact: Investor Relations at (310) 526-1707 | Distribution Date: 04/11/2022 Record Date: 04/08/2022 Determination Date: 03/31/2022 |
Fiscal Year Ended January 29, 2022 | ||||||||||||||||||||||||||
Subtenant Name | Subleased Property | Square Feet | Lease Commence Date | Lease Expiration Date *** | Rent / Month | Rent Per Square Foot / Month | Percent of Total Rent ** | Expense Provisions | ||||||||||||||||||
Donald Bruce Drummond (Optometrist) | 334 | 226 | 6/1/2017 | 5/31/2022 | 100 | 0.4 | 0.2% | JCP retains 2% of sublessee's sales run through JCP credit card machines to cover interchange fees | ||||||||||||||||||
Dr. Norman Ratner (Optometrist) | 634 | 202 | 9/1/2016 | 8/31/2022 | 100 | 0.5 | 0.1% | JCP retains 2% of sublessee's sales run through JCP credit card machines to cover interchange fees | ||||||||||||||||||
Dr. Susan Shahriari (Optometrist) | 2096 | 154 | 10/1/2015 | 9/30/2022 | 100 | 0.6 | 0.2% | JCP retains 2% of sublessee's sales run through JCP credit card machines to cover interchange fees | ||||||||||||||||||
Dr. Brian W. Park, O.D. (Optometrist) | 2467 | 120 | 10/1/2014 | 9/30/2022 | 100 | 0.8 | 0.1% | JCP retains 2% of sublessee's sales run through JCP credit card machines to cover interchange fees | ||||||||||||||||||
Dr. Jeff Overbey (Optometrist) | 2649 | 178 | 3/25/2018 | 3/31/2022 | 100 | 0.6 | 0.2% | JCP retains 2% of sublessee's sales run through JCP credit card machines to cover interchange fees | ||||||||||||||||||
Dr. Laurence Rubin (Optometrist) | 2677 | 126 | 9/1/2014 | 8/31/2022 | 100 | 0.8 | 0.1% | JCP retains 2% of sublessee's sales run through JCP credit card machines to cover interchange fees | ||||||||||||||||||
Dr. Caleb H. Poon (Optometrist) | 2955 | 248 | 2/6/2015 | 2/28/2022 | 100 | 0.04 | 0.2% | JCP retains 2% of sublessee's sales run through JCP credit card machines to cover interchange fees | ||||||||||||||||||
Aspen Square, Inc. | 2990 | 18,058 | 10/8/2008 | 10/7/2083 | 1 | 0 | —% | |||||||||||||||||||
Total Subtenants * | 19,312 | 701 | - |
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![]() | Contact Us For additional information, please contact: Investor Relations at (310) 526-1707 | Distribution Date: 04/11/2022 Record Date: 04/08/2022 Determination Date: 03/31/2022 |
www.ctltrust.net | 24 |
![]() | Contact Us For additional information, please contact: Investor Relations at (310) 526-1707 | Distribution Date: 04/11/2022 Record Date: 04/08/2022 Determination Date: 03/31/2022 |
www.ctltrust.net | 25 |
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www.ctltrust.net | 26 |
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