Cottonwood Communities, Inc., a non-traded multifamily REIT, and RealSource Properties, Inc., a private owner of an 11-property, 3,565-unit apartment portfolio, have finalized Cottonwood’s acquisition of RealSource in a private stock-for-stock and unit-for-unit merger transaction valued at approximately
$500 million.
The acquisition increases the gross asset value of Salt Lake City-based Cottonwood’s portfolio to $2.6 billion, with 48 multifamily communities and 11,037 units across 13 states. It expands the REIT’s footprint into Ohio, Colorado and Kentucky and strengthens its presence in Texas, North Carolina, and Georgia.
Additionally, as part of the broader transaction, Cottonwood assumed third-party property management of five other properties.
“The completion of this acquisition signals a pivot to an offensive posture for Cottonwood
Communities, ushering in a new phase of growth,” said CEO Daniel Shaeffer. “Building on this momentum and the expanded scale of our platform, Cottonwood is well poised to advance our strategic priorities heading into 2026.”
Pictured: RealSource’s Steepleway Downs in Houston.
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