Landlords of the bankrupt department store network J.C. Penney Co. - Simon Property and Brookfield Property Partners LP will buy it back for $800 million. If the transaction is approved by the court, the landlords will own 490 retail department stores. The remaining 160 stores, and the distribution centers, will be leased from creditors, to whom these assets will be transferred in exchange for a $5 billion debt write-off.
Landlords of the bankrupt department store network J.C. Penney Co. - Simon Property and Brookfield Property Partners LP will buy it back for $800 million. If the transaction is approved by the court, the landlords will own 490 retail department stores. The remaining 160 stores, and the distribution centers, will be leased from creditors, to whom these assets will be transferred in exchange for a $5 billion debt write-off. 
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