secwatch.observer — SEC 8-K summary
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Issuer:     Cottonwood Communities, Inc. (—)
CIK:        0001692951
Form:       8-K
Filed at:   2025-12-19T23:59:59+00:00
Accession:  0001692951-25-000287
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cottonwood Communities closes $500M merger with RealSource; portfolio GAV reaches $2.6B
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- Acquired 11-property, 3,565-unit RealSource portfolio for ~$500M in stock-for-stock merger closing Dec 18, 2025.
- Combined portfolio GAV $2.6B; 48 communities, 11,037 units in 13 states; new markets: OH, CO, KY.
- External advisor fee cut to 1.25% of NAV from 1.5%, effective at closing (16.7% reduction).
- Executives to invest $3M equally in CCI common stock/units and Series A convertible preferred by Jan 2, 2026.
- Post-closing exchange ratio adjustments for losses up to $30M; environmental claims covered until 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692951/000169295125000287/0001692951-25-000287-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692951/000169295125000287/cci-20251218.htm
  HTML page:      https://secwatch.observer/filing/0001692951-25-000287

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer