Strategic Student & Senior Housing Trust 10-Q Filed

TL;DR

**SSSHT 10-Q is IN! Get the latest on student & senior housing RE performance.**

AI Summary

Strategic Student & Senior Housing Trust, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the company, which focuses on real estate investment trusts in the student and senior housing sectors. Key financial data and disclosures relevant to investors are presented.

Why It Matters

This filing provides crucial financial and operational insights for investors in Strategic Student & Senior Housing Trust, Inc., impacting their understanding of the company's performance and outlook.

Risk Assessment

Risk Level: medium — Real estate investment trusts, especially those focused on specific sectors like student and senior housing, are subject to market fluctuations, occupancy rates, and regulatory changes.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the financial period covered by the 10-Q.)
• 2024-11-08 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Strategic Student & Senior Housing Trust, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of the reporting period
• 20241108 (date) — Filing date
• LADERA RANCH, CA 92694 (location) — Business and mailing address
• 949 429 6600 (phone_number) — Business phone number

FAQ

Filing Documents

• sssht-20240930.htm (10-Q) — 2046KB
• sssht-ex31_1.htm (EX-31.1) — 15KB
• sssht-ex31_2.htm (EX-31.2) — 15KB
• sssht-ex32_1.htm (EX-32.1) — 8KB
• sssht-ex32_2.htm (EX-32.2) — 8KB
• 0000950170-24-124012.txt ( ) — 10119KB
• sssht-20240930.xsd (EX-101.SCH) — 1583KB
• sssht-20240930_htm.xml (XML) — 1858KB

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 44 Item 4.

Controls and Procedures

Controls and Procedures 44 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 45 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 45 2 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements contained in this Form 10-Q of Strategic Student & Senior Housing Trust, Inc. (the "Company"), 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; (ii) potential future outbreaks of infectious diseases or other health conce

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

CONSOLIDATED F INANCIAL STATEMENTS

ITEM 1. CONSOLIDATED F INANCIAL STATEMENTS The information furnished in the accompanying unaudited consolidated balance sheets and related consolidated statements of operations, equity (deficit) and temporary equity, and cash flows reflects all adjustments (consisting of normal and recurring adjustments) that are, in management's opinion, necessary for a fair and consistent presentation of the aforementioned consolidated financial statements. The accompanying consolidated financial statements should be read in conjunction with the notes to our consolidated financial statements and Management's Discussion and Analysis of Financial Condition and Results of Operations included in this report on Form 10-Q. The accompanying consolidated financial statements should also be read in conjunction with our consolidated financial statements and notes thereto and Management's Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the year ended December 31, 2023. Our results of operations for the three and nine months ended September 30, 2024 are not necessarily indicative of the operating results expected for the full year. 4 STRATEGIC STUDENT & SENIOR HOUSING TRUST, INC. AND SUBSIDIARIES CONSOLIDATED BA LANCE SHEETS September 30, 2024 (Unaudited) December 31, 2023 ASSETS Real estate facilities: Land $ 12,005,000 $ 12,005,000 Buildings 153,273,037 153,273,036 Site improvements 2,748,917 2,748,917 Furniture, fixtures and equipment 9,814,988 9,095,957 177,841,942 177,122,910 Accumulated depreciation ( 33,373,295 ) ( 29,412,671 ) 144,468,647 147,710,239 Construction in process 379,160 303,497 Real estate held for investment, net 144,847,807 148,013,736 Real estate held for sale, net — 43,777,523 Total real estate facilities, net 144,847,807 191,791,259 Cash and cash equivalents 13,842,913 5,591,709 Restricted cash 2,745,

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS September 30, 2024 (Unaudited) Note 1. Organization 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 these consolidated financial statements, "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 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 $ 95,000,000 in shares of common stock for sale pursuant to our dist

View Full Filing

View this 10-Q filing on SEC EDGAR