secwatch.observer — SEC 8-K summary
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Issuer:     Strategic Student & Senior Housing Trust, Inc. (STSR)
CIK:        0001698538
Form:       8-K
Filed at:   2024-08-02T23:59:59+00:00
Accession:  0000950170-24-089857
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698538/000095017024089857/0000950170-24-089857-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698538/000095017024089857/sssht-20240731.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-089857

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