secwatch.observer — SEC 8-K summary
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Issuer:     Cottonwood Communities, Inc. (—)
CIK:        0001692951
Form:       8-K
Filed at:   2026-10-16T16:54:58+00:00
Accession:  0001692951-26-000193
Event type: debt
Sentiment:  neutral
Materiality: 0.78
Item codes: 1.01, 2.03, 7.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692951/000169295126000193/0001692951-26-000193-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692951/000169295126000193/cci-20261015.htm
  HTML page:      https://secwatch.observer/filing/0001692951-26-000193

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