Strategic Student & Senior sells sole student housing asset for $72.25M; exits student housing segment

Strategic Student & Senior Housing Trust, Inc.

Sold Fayetteville, AR student housing property for $72.25M cash (purchased 2017 for $57M) to JV of Virtus (95%) and sponsor SAM affiliate (5%).
Net proceeds repay ~$34.5M mortgage on property and ~$25.4M KeyBank Bridge Loan; remainder for fees, expenses, and stockholder distributions.
Sale represents complete exit from student housing; company now only operates senior housing properties.
Pro forma Q1 2024 net loss from continuing ops improves to ~$1.875M from ~$2.565M historical; total debt reduced to ~$105.3M.
Buyer is a related party: SAM affiliate owns 5% of JV and manages the property.

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