A partnership between the Meridian Group and Martin-Diamond Associates has acquired five Mid-Atlantic JC Penney stores for $53M.

Copper Property CTL Pass Through Trust, the Jersey City-based entity created last year to sell off the department store chain's real estate assets, sold the portfolio. Acore Capital financed the deal, Newmark represented the seller.

The five stores, encompassing 900K SDF, all are in regional shopping malls in Virginia, Maryland and Delaware.

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