other material
confidence high
sentiment positive
materiality 0.75
Strategic Student & Senior Housing sells Tallahassee property for $50M cash
Strategic Student & Senior Housing Trust, Inc.
- Sold YOUnion@Tallahassee to a Blackstone affiliate for $50M cash, less closing costs.
- Net proceeds will primarily repay KeyBank Bridge Loans.
- Property purchased in Q3 2017 for $47.5M; gain of ~$2.5M before costs.
- Average occupancy of 98% over hold period; 98% pre-leased for 2022-2023.
- Sale marketed by Raymond James and facilitated by SmartStop Asset Management.