Strategic Student & Senior Housing Trust Files 8-K
Ticker: STSR · Form: 8-K · Filed: Mar 18, 2024 · CIK: 1698538
Sentiment: neutral
Topics: material-agreement, real-estate, filing
TL;DR
SSHT filed an 8-K for a new material agreement on 3/13.
AI Summary
Strategic Student & Senior Housing Trust, Inc. filed an 8-K on March 18, 2024, reporting a material definitive agreement entered into on March 13, 2024. The filing also includes financial statements and exhibits related to this agreement. The company is incorporated in Maryland and its principal executive offices are located in Irvine, California.
Why It Matters
This filing indicates a significant new agreement for the company, which could impact its operations and financial performance in the student and senior housing sectors.
Risk Assessment
Risk Level: low — The filing is a standard disclosure of a material agreement and does not inherently present new risks.
Key Numbers
- 333-220646 — Commission File Number (Identifies the company's filing history with the SEC.)
- 81-4112948 — IRS Employer Identification No. (Company's tax identification number.)
Key Players & Entities
- Strategic Student & Senior Housing Trust, Inc. (company) — Registrant
- March 13, 2024 (date) — Date of earliest event reported
- March 18, 2024 (date) — Date of report
- Maryland (jurisdiction) — State of incorporation
- Irvine, CA (location) — Address of principal executive offices
FAQ
What is the nature of the material definitive agreement entered into on March 13, 2024?
The filing does not specify the details of the material definitive agreement, only that one was entered into.
What specific financial statements are included with this 8-K filing?
The filing indicates that financial statements and exhibits are included, but does not list their specific content.
Has the company undergone any name changes recently?
The filing notes a former company name, 'Strategic Student Senior & Storage Trust, Inc.', with a date of name change on February 21, 2017.
What is the primary business of Strategic Student & Senior Housing Trust, Inc.?
The company is classified under Standard Industrial Classification code 6798, which is for Real Estate Investment Trusts.
Where are the principal executive offices of the company located?
The principal executive offices are located at 19900 MacArthur Blvd, Suite 250, Irvine, CA 92612.
Filing Stats: 752 words · 3 min read · ~3 pages · Grade level 11 · Accepted 2024-03-18 17:08:20
Key Financial Figures
- $25.6 million — KeyBank Bridge Loans was approximately $25.6 million. The Eighth Amendment modifies certai
- $0.9 million — e KeyBank Bridge Loans of approximately $0.9 million. The foregoing descriptions of the Eigh
Filing Documents
- sssht-20240313.htm (8-K) — 42KB
- sssht-ex10_1.htm (EX-10.1) — 1443KB
- sssht-ex10_2.htm (EX-10.2) — 101KB
- 0000950170-24-032914.txt ( ) — 1899KB
- sssht-20240313.xsd (EX-101.SCH) — 41KB
- sssht-20240313_htm.xml (XML) — 4KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. As previously disclosed, Strategic Student & Senior Housing Trust, Inc. (the "Company"), through SSSHT Operating Partnership, L.P., the Company's operating partnership (the "Operating Partnership"), along with H. Michael Schwartz, the Company's Chairman of the Board of Directors, Strategic Asset Management I, LLC (formerly known as SmartStop Asset Management, LLC), the Company's sponsor, and an entity controlled by Mr. Schwartz (collectively, the "KeyBank Bridge Borrowers") are parties to certain bridge loans (the "KeyBank Bridge Loans") from KeyBank National Association ("KeyBank") pursuant to the Second Amended and Restated Credit Agreement dated February 23, 2018, as amended. On March 13, 2024, the KeyBank Bridge Borrowers entered into the Eighth Amendment to the KeyBank Bridge Loans (the "Eighth Amendment") to, among other matters, extend the maturity date of the KeyBank Bridge Loans from April 30, 2024 to June 30, 2025. In connection with the Eighth Amendment, the Company paid KeyBank an extension fee equal to 0.55% of the outstanding principal balance of the KeyBank Bridge Loans as of March 13, 2024. As of March 13, 2024, the outstanding balance on the KeyBank Bridge Loans was approximately $25.6 million. The Eighth Amendment modifies certain collateral securing the KeyBank Bridge Loans and certain terms related thereto. In connection with such modifications, the Company, through the Operating Partnership and SSSHT TRS, Inc., the Company's taxable REIT subsidiary, entered into a Pledge and Security Agreement with KeyBank (the "Pledge and Security Agreement"), pursuant to which KeyBank was granted a security interest in certain proceeds to be received from the Company's future financing activities. In connection with the Eighth Amendment, the parties also entered into a release of certain interest reserves previously held by KeyBank serving as collateral for the KeyBank Bridge Loans of approximately
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 10.1 Eighth Amendment to Second Amended and Restated Credit Agreement, dated March 13, 2024. 10.2 Pledge and Security Agreement, dated March 13, 2024. 104 Cover Page Interactive Data File (embedded within the inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Strategic STUDENT & SENIOR HOUSING Trust, Inc. Date: March 18, 2024 By: /s/ Matt F. Lopez Matt F. Lopez Chief Financial Officer, Treasurer, and Secretary