WASHINGTON, D.C., September 9, 2026 – Proskauer advised Mandel Group, Inc. (“Mandel”) on its agreement to merge a portion of its multifamily portfolio with Cottonwood Communities, Inc. (“Cottonwood”), a Salt Lake City-based, multifamily sector-focused real estate investment trust. Thirteen Mandel-owned and operated properties, valued at over $600 million, will be merged with Cottonwood’s portfolio in exchange for units in the Cottonwood operating partnership and cash.
As part of the transaction, Mandel and Cottonwood will merge their property management platforms. The combined management company will manage all Mandel assets, including Mandel properties not part of the transaction and others currently under development.
The merger transactions for 12 properties are expected to be completed in the coming months, subject to lender approvals, approval of the mergers by the members of the property-owning entities, and other closing conditions. The membership interests in one property were acquired at the end of July.
After the transactions, Mandel will continue to operate as an independent, privately held real estate development and asset management company.
The Proskauer team was led by partner David Slotkin and associate Alexander Smith (M&A) and partner Jean Bertrand and senior counsel Bowon Koh (Tax). It also included partner Seth Safra (Compensation & Benefits) and associate Courtney Kim (M&A).