Strategic Student & Senior Housing Trust Inc (STSR) is a non-traded real estate investment trust that acquires and owns student housing and senior housing properties. It generates income through property operations managed by third-party operators under management agreements, with its day-to-day affairs and acquisitions handled externally by its advisor, SSSHT Advisor, LLC. STSR has no employees and is entirely externally managed. As of September 30, 2025, the trust held senior housing properties with a total market value of $209.6 million, financed with approximately $101.8 million in debt at a fixed rate of 4.94%. The trust carries distributions payable of $9.4 million and amounts due to affiliates of $14.5 million as of the same date. Total net asset value stood at approximately $83.5 million across 13.1 million shares outstanding as of September 30, 2025. To maintain REIT status, STSR must distribute at least 90% of taxable income annually to stockholders.

Revenue model

STSR earns income from senior housing and student housing properties operated by third-party managers under management agreements. Third-party operators collect resident rents, pay operating expenses, and remit income to the trust. The trust pays advisory, asset management, and property management fees to affiliated entities controlled by its sponsor, Strategic Asset Management I, LLC.

Products and services

Senior housing properties operated under third-party management agreements. Student housing properties. Externally managed REIT structure with Class A and Class T common shares.

Customers and end markets

Senior housing residents and student renters are the end occupants. The trust itself does not lease directly to residents; third-party operators handle resident selection, leasing, and rent collection on behalf of the trust.

Value-chain role

Property owner and capital allocator. STSR acquires real estate assets and contracts third-party operators to manage and operate properties. Its advisor, SSSHT Advisor, LLC (formed October 3, 2016), handles acquisitions and day-to-day management decisions. Strategic Asset Management I, LLC (organized 2013) serves as sponsor and owns approximately 97.5% of the economic interests in the advisor.

Geographic exposure

The filing does not specify individual property locations or geographic distribution beyond noting the trust invests in student housing and senior housing real estate in the United States.

Source: SEC 10-K, filed 2026-03-20

Industry: Real Estate Investment Trusts