Cottonwood Communities amends merger escrow, signs $75M JPMorgan term loan and $100M revolver, cuts distribution

Cottonwood Communities, Inc.

On Oct 15, 2026 CCI and the Mandel Parties amended merger agreements so the escrow equals 1.5% of purchase price including assumed or repaid debt, fixing a scrivener's error.
CROP signed a loan agreement with JPMorgan Chase on Oct 16, 2026: $75,000,000 term loan ($38,000,000 funded at closing) plus up to $100,000,000 in revolving commitments.
Term loan proceeds will finance an acquisition and reduce an outstanding loan by $25,400,000; pricing is Term SOFR plus 3.35%, maturing October 16, 2029.
Covenants require CROP to maintain a minimum NAV of $750,000,000, plus debt yield, fixed charge coverage and pledge coverage ratios; term loan may grow to $150,000,000 at lender discretion.
CCI's board cut the monthly distribution to $0.05166667 per share/unit for record date Nov 30, 2026, an annualized ~5.5% of the $11.3303 NAV as of Sept 30, 2026.

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