Cottonwood Communities Completes Merger with RealSource

Cottonwood Communities, Inc. completed a merger with RealSource Properties, Inc. on December 18, 2025. In the CCI Merger, each RealSource common share was converted into 0.8634 shares of Cottonwood Class I common stock. In the Partnership Merger, each RealSource operating partnership common unit was converted into 0.8634 CROP common units.

The merger and related internalization transactions were conditional upon one another and treated as a single transaction for accounting. At the same time, RSOP acquired equity interests in RealSource Properties Advisor, RS Properties Management, and RealSource Management, with total consideration of 2,142,135.1721 common units of RSOP (converted into CROP common units).