Strategic Student & Senior Housing Trust reports senior occupancy up to 86%, sells Tallahassee property, reduces debt

Strategic Student & Senior Housing Trust, Inc.

Senior community occupancy rose from ~82% to ~86% in Q1 2022 (400 bps increase).
Sold Tallahassee student property; proceeds repaid mortgage, cut bridge loan from $44M to $27M, added ~$8M cash.
Revenue up ~$800k, expenses up ~$700k excluding sold property; only student property at Univ. of Arkansas (95% occupied, ~100% pre-leased).
Management cautious on COVID-19 variants, labor shortages, and inflation impacting margins.
Goals for 2022: grow senior census, raise rents/care fees, manage expenses, deploy capex strategically.

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