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:   2021-09-01T23:59:59+00:00
Accession:  0001564590-21-046636
Event type: other_material
Sentiment:  negative
Materiality: 0.85
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SSSHT discloses 81% LTV, bridge loan maturity in April 2022, cash shortfall
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- Senior occupancy rose 330 bps to 80.5% in Q2, but NOI was ~$100k below Q2 2020.
- PPP loans of $1.95M forgiven; student pre-leasing at 96.3% (Fayetteville) and 100% (Tallahassee).
- Loan-to-value ratio of 81% as of June 30; $44M bridge loans mature April 2022.
- Lender requires $1.8M increase in restricted cash reserves by Jan 1, 2022; company lacks cash.
- Delta variant causing breakthrough infections; all options including asset sales or recapitalization considered.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1698538/000156459021046636/0001564590-21-046636-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1698538/000156459021046636/ck1698538-8k_20210831.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-046636

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer