Strategic Student & Senior Housing Trust, Inc. Files 2023 10-K

TL;DR

<b>Strategic Student & Senior Housing Trust, Inc. has filed its annual 10-K report for the fiscal year ending December 31, 2023.</b>

AI Summary

Strategic Student & Senior Housing Trust, Inc. (STSR) filed a Annual Report (10-K) with the SEC on March 22, 2024. Filed 10-K for the fiscal year ended December 31, 2023. Company name changed from Strategic Student Senior & Storage Trust, Inc. on February 21, 2017. Incorporated in Maryland (MD). Primary business address and mailing address are both 10 Terrace Road, Ladera Ranch, CA 92694. Phone number is 949-429-6600.

Why It Matters

For investors and stakeholders tracking Strategic Student & Senior Housing Trust, Inc., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the fiscal year 2023. As a REIT, the company's financial health and strategic decisions detailed in this report are crucial for investors to assess its value and future prospects.

Risk Assessment

Risk Level: low — Strategic Student & Senior Housing Trust, Inc. shows low risk based on this filing. The filing is a standard 10-K report with no immediate red flags, indicating a routine disclosure of financial and operational information.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand the company's performance and outlook.

Key Numbers

• 20231231 — Fiscal Year End (Report Period)
• 20240322 — Filing Date (Submission Date)
• 63 — Public Document Count (Filing Details)
• 0000950170-24-035186 — Accession Number (Filing Identifier)

Key Players & Entities

• Strategic Student & Senior Housing Trust, Inc. (company) — Filer
• 10 Terrace Road, Ladera Ranch, CA 92694 (address) — Business Address
• MD (state) — State of Incorporation
• Strategic Student Senior & Storage Trust, Inc. (company) — Former Company Name
• 20170221 (date) — Date of Name Change
• 949-429-6600 (phone) — Business Phone
• 6798 (sic_code) — Standard Industrial Classification
• 20231231 (date) — Fiscal Year End

FAQ

Industry Context

The company operates within the Real Estate Investment Trusts (REITs) sector, focusing on student and senior housing properties.

Regulatory Implications

As a publicly traded company, it is subject to the reporting requirements of the Securities and Exchange Commission (SEC) under the 1934 Act.

What Investors Should Do

1. Analyze the company's financial statements for the fiscal year 2023.
2. Review the risk factors section for potential challenges and uncertainties.
3. Examine any disclosures related to executive compensation or significant transactions.

Year-Over-Year Comparison

This is the initial filing data extracted for the 2023 10-K; historical comparison data is not yet available from this specific extraction.

Key Financial Figures

• $1,000 — d 111.11 shares of our common stock for $1,000 and became our initial stockholder. On
• $100,000,000 — e commenced a private offering of up to $100,000,000 in shares of our common stock (the "Pri
• $1,000,000 — g required a minimum offering amount of $1,000,000. On August 4, 2017, we met such minimum
• $91.5 million — ised offering proceeds of approximately $91.5 million from the issuance of approximately 10.7
• $1.0 billion — Registration Statement registered up to $1.0 billion in shares of common stock for sale to t
• $95.0 million — T shares, and Class W shares— and up to $95.0 million in shares of common stock for sale purs
• $700 million — we began offering Class Y shares (up to $700 million in shares) and Class Z shares (up to $3
• $300 million — on in shares) and Class Z shares (up to $300 million in shares) in our Primary Offering. The
• $17.1 million — ised offering proceeds of approximately $17.1 million from the issuance of approximately 362,
• $5.7 million — res for gross proceeds of approximately $5.7 million. On March 30, 2020, our board of dire
• $199,000 — units) in our Operating Partnership for $199,000, resulting in total capital contributio
• $200,000 b — lting in total capital contributions of $200,000 by our Advisor in our Operating Partnersh

Filing Documents

• sssht-20231231.htm (10-K) — 3206KB
• sssht-ex31_1.htm (EX-31.1) — 15KB
• sssht-ex31_2.htm (EX-31.2) — 16KB
• sssht-ex32_1.htm (EX-32.1) — 9KB
• sssht-ex32_2.htm (EX-32.2) — 9KB
• sssht-ex99_1.htm (EX-99.1) — 7KB
• img199233900_0.jpg (GRAPHIC) — 89KB
• 0000950170-24-035186.txt (&nbsp;) — 11760KB
• sssht-20231231.xsd (EX-101.SCH) — 1665KB
• sssht-20231231_htm.xml (XML) — 1831KB

BUSINESS

BUSINESS 4 ITEM 1A.

RISK FACTORS

RISK FACTORS 16 ITEM 1B. UNRESOLVED STAFF COMMENTS 43 ITEM 1C. CYBERSECURITY 44 ITEM 2.

PROPERTIES

PROPERTIES 45 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 45 ITEM 4. MINE SAFETY DISCLOSURES 45 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 46 ITEM 6. [ RESERVED ] 52 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 53 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 62 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 63 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 63 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 63 ITEM 9B. OTHER INFORMATION 63 ITEM 9C. DISCLOSURE REGARDING FOREIGN JURSIDICTIONS THAT PREVENT INSPECTIONS 64 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 65 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 67 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 70 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE 70 ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 76 PART IV ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULE 77 ITEM 16. FORM 10-K SUMMARY 77

SIGNATURES

SIGNATURES 82 INDEX TO FINANCIAL STATEMENTS F- 1 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements contained in this Form 10-K of Strategic Student & Senior Housing Trust, Inc., other than historical facts, may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We intend for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act, as applicable. Such statements include, in particular, statements about our plans, strategies, and prospects and are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of our performance in future periods. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "seek," "continue," or other similar words. Any such forward-looking statements are based on current expectations, estimates, and projections about the industry and markets in which we operate, and beliefs of, and assumptions made by, our management and involve uncertainties that could significantly affect our financial results. Such statements include, but are not limited to: (i) statements about our plans, strategies, initiatives, and prospects; and (ii) statements about our future results of operations, capital expenditures, and liquidity. Such statements are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from those projected or anticipated. Summary of Principal

B USINESS

ITEM 1. B USINESS Formation and Corporate Structure Strategic Student & Senior Housing Trust, Inc., a Maryland corporation, was formed on October 4, 2016 under the Maryland General Corporation Law for the purpose of engaging in the business of investing in student housing and senior housing real estate investments. The Company's year-end is December 31. As used in this report, "we," "us," "our," and "Company" refer to Strategic Student & Senior Housing Trust, Inc. and each of our subsidiaries. Offering Related On October 4, 2016, our Advisor, as defined below, acquired 111.11 shares of our common stock for $1,000 and became our initial stockholder. On January 27, 2017, pursuant to a confidential private placement memorandum (the "Private Placement Memorandum"), we commenced a private offering of up to $100,000,000 in shares of our common stock (the "Primary Private Offering") and 1,000,000 shares of common stock pursuant to our distribution reinvestment plan (collectively, the "Private Offering" and together with the Public Offering described below, the "Offerings"). The Private Offering required a minimum offering amount of $1,000,000. On August 4, 2017, we met such minimum offering requirement. Our Primary Private Offering terminated on March 15, 2018. We raised offering proceeds of approximately $91.5 million from the issuance of approximately 10.7 million shares pursuant to the Private Offering. On May 1, 2018, our registration statement on Form S-11 (File No. 333-220646) (the "Registration Statement") was declared effective by the U.S. Securities and Exchange Commission (the "SEC"). The Registration Statement registered up to $1.0 billion in shares of common stock for sale to the public (the "Primary Offering") consisting of three classes of shares — Class A shares, Class T shares, and Class W shares— and up to $95.0 million in shares of common stock for sale pursuant to our distribution reinvestment plan (together with the Primary Offering, the "Publ

View Full Filing

View this 10-K filing on SEC EDGAR