Strategic Student & Senior Housing Trust agrees to sell Tallahassee property for ~$50M; senior occupancy dips to 82%

Strategic Student & Senior Housing Trust, Inc.

Sold Tallahassee student housing to Blackstone affiliate for ~$50M; expected close Q1 2022.
Proceeds will pay down KeyBank Bridge Loan; buyer paid $1.5M earnest deposit.
Senior occupancy fell from 83% in Aug to 82% in Sept due to Delta variant; student communities 100% and 97% leased.
KeyBank Bridge Loans extended to Apr 2023; applied for Phase IV HHS grants and restricted cash reserve reduction through Dec 2022.

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