2023 Q4 Form 10-K Financial Statement

#000095017024035186 Filed on March 22, 2024

View on sec.gov

Income Statement

Concept 2023 Q4 2023 2022
Revenue $37.67M $34.43M
YoY Change 9.4% 0.47%
Cost Of Revenue $26.23M $24.22M
YoY Change 8.3% 3.83%
Gross Profit $11.44M $10.21M
YoY Change 12.03% -6.7%
Gross Profit Margin 30.37% 29.66%
Selling, General & Admin $1.719M
YoY Change 34.45%
% of Gross Profit 16.83%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.070M $7.416M
YoY Change -4.66% -14.51%
% of Gross Profit 61.81% 72.63%
Operating Expenses $9.135M
YoY Change -13.66%
Operating Profit -$556.9K $10.74M
YoY Change -105.18% -535.21%
Interest Expense -$8.267M
YoY Change -13.29%
% of Operating Profit -76.96%
Other Income/Expense, Net $147.6K $606.6K
YoY Change -75.66% -48.07%
Pretax Income $11.10M $500.0K
YoY Change 2120.0% -95.24%
Income Tax $0.00 $0.00
% Of Pretax Income 0.0% 0.0%
Net Earnings -$9.754M $725.4K
YoY Change -1444.73% -107.77%
Net Earnings / Revenue -25.89% 2.11%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.04
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.32M
YoY Change 31.55%
Cash & Equivalents $5.592M $10.32M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $10.32M
YoY Change 31.55%
LONG-TERM ASSETS
Property, Plant & Equipment $196.3M
YoY Change -17.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.223M
YoY Change 9.06%
Total Long-Term Assets $200.1M
YoY Change -17.46%
TOTAL ASSETS
Total Short-Term Assets $10.32M
Total Long-Term Assets $200.1M
Total Assets $201.3M $210.5M
YoY Change -4.33% -15.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.677M
YoY Change 5.4%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $22.28M
YoY Change 14.66%
LONG-TERM LIABILITIES
Long-Term Debt $162.8M
YoY Change -20.38%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $162.8M
YoY Change -20.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $22.28M
Total Long-Term Liabilities $162.8M
Total Liabilities $187.1M $184.0M
YoY Change 1.07% -17.42%
SHAREHOLDERS EQUITY
Retained Earnings -$80.13M
YoY Change 16.04%
Common Stock $97.73M
YoY Change 0.01%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$109.9K $26.47M
YoY Change
Total Liabilities & Shareholders Equity $201.3M $210.5M
YoY Change -4.33% -15.93%

Cashflow Statement

Concept 2023 Q4 2023 2022
OPERATING ACTIVITIES
Net Income -$9.754M $725.4K
YoY Change -1444.73% -107.77%
Depreciation, Depletion And Amortization $7.070M $7.416M
YoY Change -4.66% -14.51%
Cash From Operating Activities $939.8K -$88.27K
YoY Change -1164.69% -112.28%
INVESTING ACTIVITIES
Capital Expenditures $4.030M
YoY Change 264.32%
Acquisitions
YoY Change
Other Investing Activities $49.48M
YoY Change 2844.15%
Cash From Investing Activities -$2.923M $45.45M
YoY Change -106.43% 7811.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.273M -42.70M
YoY Change -94.68% 4857.15%
NET CHANGE
Cash From Operating Activities 939.8K -88.27K
Cash From Investing Activities -2.923M 45.45M
Cash From Financing Activities -2.273M -42.70M
Net Change In Cash -4.256M 2.660M
YoY Change -260.0% 516.34%
FREE CASH FLOW
Cash From Operating Activities $939.8K -$88.27K
Capital Expenditures $4.030M
Free Cash Flow -$4.118M
YoY Change 962.39%

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CY2021 us-gaap Proceeds From Sale Of Equity Method Investments
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023 us-gaap Repayments Of Debt
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CY2022 us-gaap Repayments Of Debt
RepaymentsOfDebt
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CY2021 us-gaap Repayments Of Debt
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50000
CY2022 sssht Repayment Of Tallahassee Nationwide Mortgage Loans
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23500000
CY2023 us-gaap Repayments Of Secured Debt
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CY2022 us-gaap Repayments Of Secured Debt
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CY2021 us-gaap Repayments Of Secured Debt
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CY2022 us-gaap Payments Of Debt Issuance Costs
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CY2021 us-gaap Payments Of Debt Issuance Costs
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164875
CY2022 us-gaap Payments Of Dividends Common Stock
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CY2022 sssht Payments Of Distribution To Unitholder In Operating Partnership
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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2660029
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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431587
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12544609
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9884580
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12544609
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9884580
CY2023 us-gaap Interest Paid Net
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9011353
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8241981
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9548429
CY2023 sssht Non Cash Transactions Additions To Real Estate In Accounts Payable And Accrued Liabilities
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26522
CY2022 sssht Non Cash Transactions Additions To Real Estate In Accounts Payable And Accrued Liabilities
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371341
CY2021 sssht Non Cash Transactions Additions To Real Estate In Accounts Payable And Accrued Liabilities
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5347
CY2023 sssht Non Cash Transitions Distributions Payable To Preferred Unit Holders In Operating Partnership
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1341278
CY2022 sssht Non Cash Transitions Distributions Payable To Preferred Unit Holders In Operating Partnership
NonCashTransitionsDistributionsPayableToPreferredUnitHoldersInOperatingPartnership
1256632
CY2021 sssht Non Cash Transitions Distributions Payable To Preferred Unit Holders In Operating Partnership
NonCashTransitionsDistributionsPayableToPreferredUnitHoldersInOperatingPartnership
1171988
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Note 1. Organization</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Strategic Student &amp; Senior Housing Trust, Inc., a Maryland corporation, was formed on </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">October 4, 2016</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> 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 &amp; Senior Housing Trust, Inc. and each of our subsidiaries.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Offering Related</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On October 4, 2016, our Advisor, as defined below, acquired </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">111.11</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares of our common stock for $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> 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 $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100,000,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> in shares of our common stock (the “Primary Private Offering”) and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,000,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> 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 $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,000,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. On August 4, 2017, we met such minimum offering requirement. Our Private Offering terminated on March 15, 2018. We raised offering proceeds of approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">91.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million from the issuance of approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million shares pursuant to the Private Offering.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">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 $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.0</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> 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 $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">95,000,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> in shares of common stock for sale pursuant to our distribution reinvestment plan (together with the Primary Offering, the “Public Offering”).</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Concurrently with our Registration Statement being declared effective, we filed articles of amendment to our charter and articles supplementary to our charter. As a result, all shares issued in our Private Offering were redesignated as Class A shares and the authorized shares under our charter were reclassified among Class A shares and two new classes of shares, Class T shares and Class W shares.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On June 21, 2019, we suspended the sale of Class A shares, Class T shares, and Class W shares in the Primary Offering and filed a post-effective amendment to our Registration Statement to register two new classes of common stock (Class Y shares and Class Z shares) with the SEC. On July 10, 2019, the amendment to our Registration Statement was declared effective by the SEC. Also on July 10, 2019, we filed articles supplementary to our charter which reclassified certain authorized and unissued shares of our common stock into Class Y shares and Class Z shares. Effective as of July 10, 2019, we began offering Class Y shares (up to $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">700</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million in shares) and Class Z shares (up to $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">300</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million in shares) in our Primary Offering. The Class Y shares and Class Z shares have similar voting rights and rights upon liquidation to the Class A shares, Class T shares, and Class W shares, although distributions are expected to differ because of the stockholder servicing fee associated with the Class Y shares and the dealer manager servicing fee associated with the Class Z shares. Through our Primary Offering, we raised offering proceeds of approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">17.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million from the issuance of approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">362,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Class A shares, approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">70,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Class T shares, approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">83,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Class W shares, approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million Class Y shares, and approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">165,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Class Z shares. On March 30, 2020, our board of directors approved the suspension of our distributions which included the distribution reinvestment plan and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> shares have been issued subsequently. Through our distribution reinvestment plan, we have issued approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">610,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Class A shares, approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">8,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Class T shares, approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">3,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Class W shares, approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Class Y shares, and approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> Class Z shares for gross proceeds of approximately $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">5.7</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On March 30, 2020, our board of directors approved the suspension of the Primary Offering based upon various factors, including the uncertainty relating to the novel coronavirus (“COVID-19”) pandemic and its potential impact on us and our overall financial results. Our board of directors also approved the suspension of our share redemption program (see Note 8 – Commitments and Contingencies for additional detail) and the suspension of distributions to our stockholders both of which remain suspended as of December 31, 2023. The termination of our Primary Offering occurred on May 1, 2021. </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Primarily as a result of the termination of our Primary Offering, we currently do not have the equity capital needed to acquire additional properties at this time and we are focusing our efforts on managing our existing properties. Subsequent to March 31, 2020, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> sales were made pursuant to the Primary Offering.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On January 22, 2024, our board of directors, upon recommendation of our nominating and corporate governance committee, approved an estimated value per share of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">6.34</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> for our Class A shares, Class T shares, Class W shares, Class Y shares, and Class Z shares based on the estimated value of our assets less the estimated value of our liabilities, or net asset value, divided by the number of shares outstanding on an adjusted fully diluted basis, calculated as of September 30, 2023.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As of December 31, 2023, we owned </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> student housing property and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">four</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> senior housing properties.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Our operating partnership, SSSHT Operating Partnership, L.P., a Delaware limited partnership (our “Operating Partnership”), was formed on </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">October 5, 2016</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. On October 5, 2016, our Advisor acquired a limited partnership interest in our Operating Partnership for $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">111.11</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> partnership units) and we contributed the initial $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">1,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> capital contribution to our Operating Partnership in exchange for the general partner interest. In addition, on September 28, 2017, our Advisor acquired additional limited partnership interests (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">25,447.57</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> partnership units) in our Operating Partnership for $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">199,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, resulting in total capital contributions of $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">200,000</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> by our Advisor in our Operating Partnership. Our Operating Partnership owns, directly or indirectly through one or more special purpose entities, all of our student housing and senior housing properties. As of December 31, 2023, we owned approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">99.8</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the common units of limited partnership interest of our Operating Partnership. The remaining approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">0.2</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the common units are owned by our Advisor. We will conduct certain activities directly or indirectly through our taxable REIT subsidiary, SSSHT TRS, Inc., a Delaware corporation (the “TRS”) which was formed on October 6, 2016, and is a wholly owned subsidiary of our Operating Partnership. See Note 5 – Preferred Equity in our Operating Partnership.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Other Corporate History</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Strategic Asset Management I, LLC (f/k/a SmartStop Asset Management, LLC), a Delaware limited liability company organized in 2013 (our “Sponsor”), was the sponsor of our Offerings. Our Sponsor provides real estate advisory, asset management, and property management services. In June 2019, our Sponsor entered into a series of transactions with SmartStop Self Storage REIT, Inc. (f/k/a Strategic Storage Trust II, Inc.) (“SmartStop”) in which SmartStop acquired the self storage advisory, asset management, property management, investment management, and certain joint venture interests of our Sponsor. As a result of the transactions, our Sponsor and its subsidiaries own limited partnership units in the operating partnership of SmartStop, and our Sponsor is now focused primarily on student and senior housing. Our Sponsor owns approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">97.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the economic interests (and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the voting membership interests) of our Advisor and owns </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of our Property Manager, each as defined below. <br/></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">We have </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> employees. Our advisor is SSSHT Advisor, LLC, a Delaware limited liability company (our “Advisor”) which was formed on October 3, 2016. The majority of the officers of our Advisor are also officers of us and our Sponsor. Our Advisor is responsible for managing our affairs on a day-to-day basis and identifying and making acquisitions and investments on our behalf under the terms of the Advisory Agreement, as defined elsewhere herein. Please see Note 7 – Related Party Transactions for additional detail.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">SSSHT Property Management, LLC, a Delaware limited liability company (our “Property Manager”), was formed on </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">October 3, 2016</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. Our Property Manager derives substantially all of its income from the property management oversight services it performs for us. We have entered into property management agreements directly with third party property managers and our Property Manager provides oversight services with respect to such third party property managers. Please see Note 7 – Related Party Transactions for additional detail.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Our student housing property is managed by a third-party student housing property manager. Our senior housing properties are managed by a third-party senior living operator. Please see Note 8 – Commitments and Contingencies for additional detail. <br/></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Our dealer manager was Select Capital Corporation, a California corporation (our “Former Dealer Manager”). We terminated the Dealer Management Agreement on </span><span style="font-size:10pt;font-family:Times New Roman;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">June 16, 2020</span></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> in accordance with its provisions. Our Former Dealer Manager was responsible for marketing our shares offered pursuant to our offerings. Our Sponsor previously owned, through a wholly-owned limited liability company, a </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">15</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% non-voting equity interest in our Former Dealer Manager. Affiliates of our Former Dealer Manager own a </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">2.5</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% non-voting membership interest in our Advisor, which they acquired on January 1, 2018. Please see Note 7 – Related Party Transactions for additional detail. <br/></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Our Sponsor owns </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of the membership interests of Strategic Transfer Agent Services, LLC, our transfer agent (our “Transfer Agent”). Our Transfer Agent provides transfer agent and registrar services to us that are substantially similar to what a third party transfer agent would provide in the ordinary course of performing its functions as a transfer agent. Please see Note 7 – Related Party Transactions for additional detail. Prior to May 1, 2018, our Advisor provided services on our behalf similar to those provided by our Transfer Agent.<br/></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">As </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">we accepted subscriptions for shares of our common stock, we transferred all of the net offering proceeds to our Operating Partnership as capital contributions in exchange for additional limited partnership units in our Operating Partnership. However, we were deemed to have made capital contributions in the amount of gross proceeds received from investors, and our Operating Partnership was deemed to have simultaneously paid the sales commissions and other costs associated with the Offering. In addition, our Operating Partnership is structured to make distributions with respect to limited partnership units that are equivalent to the distributions we make to stockholders. Finally, a limited partner in our Operating Partnership may later exchange his or her limited partnership units in our</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Operating </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Partnership for shares of our common stock at any time after one year following the date of issuance of their limited partnership units, subject to certain restrictions outlined in the limited partnership agreement of our Operating Partnership (the “Operating Partnership Agreement”). Our Advisor is prohibited from exchanging or otherwise transferring its limited partnership units so long as it is acting as our Advisor pursuant to our Advisory Agreement. <br/></span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023 dei Entity Incorporation Date Of Incorporation
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2016-10-04
CY2023 sssht Number Of Student Housing Properties
NumberOfStudentHousingProperties
1
CY2023 sssht Number Of Senior Housing Properties
NumberOfSeniorHousingProperties
4
CY2023Q4 sssht Number Of Employees
NumberOfEmployees
0
CY2023 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
0
CY2022 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
0
CY2021 us-gaap Advertising Expense
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CY2023 us-gaap Use Of Estimates
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<p style="margin-left:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The current economic environment has increased the degree of uncertainty inherent in these estimates and assumptions. Management will adjust such estimates when facts and circumstances dictate. Actual results could materially differ from those estimates. The most significant estimates made include the allocation of property purchase price to tangible and intangible assets acquired and liabilities assumed at relative fair value, the determination if certain entities should be consolidated, the evaluation of potential impairment of long-lived assets, and the estimated useful lives of real estate assets and intangibles.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p>
CY2023 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
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0
CY2022 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2023 sssht Lease Cancellation Notice Period
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P30D
CY2023Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Premiums And Other Receivables
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CY2023 us-gaap Advertising Expense
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CY2022 us-gaap Advertising Expense
AdvertisingExpense
900000
CY2021 sssht Other Income Related To Stimulus Grants
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800000
CY2023 sssht Other Income Related To Stimulus Grants
OtherIncomeRelatedToStimulusGrants
0
CY2022 sssht Other Income Related To Stimulus Grants
OtherIncomeRelatedToStimulusGrants
0
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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1075188
CY2023Q4 us-gaap Deferred Finance Costs Net
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700000
CY2022Q4 us-gaap Deferred Finance Costs Net
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CY2023Q4 sssht Maximum Offering Costs As Percentage Of Gross Offering Proceeds
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0.010
CY2023 sssht Maximum Period For Reimbursement Of Offering Expenses
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2022 us-gaap Income Tax Expense Benefit
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CY2023 sssht Minimum Percentage Of Ordinary Taxable Income To Be Distributed To Stockholders
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0.90
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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-2048337
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2023 sssht Income Tax Reconciliation Non Taxable Real Estate Investment Trust Income Loss
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1439687
CY2023 sssht Effective Income Tax Rate Reconciliation Non Taxable Real Estate Investment Trust Income Loss
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-0.15
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
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CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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152324
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
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CY2022 sssht Income Tax Reconciliation Non Taxable Real Estate Investment Trust Income Loss
IncomeTaxReconciliationNonTaxableRealEstateInvestmentTrustIncomeLoss
-1465580
CY2022 sssht Effective Income Tax Rate Reconciliation Non Taxable Real Estate Investment Trust Income Loss
EffectiveIncomeTaxRateReconciliationNonTaxableRealEstateInvestmentTrustIncomeLoss
-2.02
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-299937
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.41
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1613193
CY2022 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
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CY2021 sssht Effective Income Tax Rate Reconciliation Non Taxable Real Estate Investment Trust Income Loss
EffectiveIncomeTaxRateReconciliationNonTaxableRealEstateInvestmentTrustIncomeLoss
-0.11
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
-194699
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.02
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
1492007
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-0.16
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-413101
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.04
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2023Q4 sssht Deferred Tax Liabilities Depreciation Timing Differences
DeferredTaxLiabilitiesDepreciationTimingDifferences
-121118
CY2022Q4 sssht Deferred Tax Liabilities Depreciation Timing Differences
DeferredTaxLiabilitiesDepreciationTimingDifferences
-44705
CY2023Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-34089
CY2023Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
155207
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
44705
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
6007314
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
4976303
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
90290
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
273327
CY2023Q4 us-gaap Deferred Tax Assets Net
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6097604
CY2022Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
5249630
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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5942397
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
5204925
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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11100000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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500000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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10500000
CY2023 us-gaap Effective Income Tax Rate Continuing Operations
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CY2022 us-gaap Effective Income Tax Rate Continuing Operations
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0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
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CY2023Q4 us-gaap Unrecognized Tax Benefits
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0
CY2022Q4 us-gaap Unrecognized Tax Benefits
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0
CY2023 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentration</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">No</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> single student nor senior resident represents a significant concentration of our revenues. For the month of December 2023, approximately </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">46</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">39</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%, and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">15</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of our rental income was concentrated in Oregon, Utah, and Arkansas, respectively.</span></p>
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
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7415888
CY2022Q4 us-gaap Real Estate Accumulated Depreciation
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33485918
CY2023 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
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7070186
CY2023Q4 us-gaap Change In Accounting Principle Accounting Standards Update Adopted
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true
CY2023Q4 us-gaap Change In Accounting Principle Accounting Standards Update Immaterial Effect
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true
CY2023 us-gaap Number Of Reportable Segments
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2
CY2021Q4 us-gaap Real Estate Investment Property At Cost
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226034316
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
228006554
CY2023Q4 us-gaap Real Estate Investment Property At Cost
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231992832
CY2021Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
26070030
CY2023Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
40556104
CY2023Q4 sssht Deferred Finance Costs Excluding Held For Sale
DeferredFinanceCostsExcludingHeldForSale
693229
CY2022Q4 sssht Deferred Finance Costs Excluding Held For Sale
DeferredFinanceCostsExcludingHeldForSale
1014079
CY2023Q4 us-gaap Long Term Debt
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160863818
CY2022Q4 us-gaap Long Term Debt
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162815965
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
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57102704
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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1856855
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1952215
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2052475
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
98592798
CY2023Q4 us-gaap Debt Instrument Carrying Amount
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161557047
CY2023Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
693229
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
160863818
CY2023 sssht Preferred Units Distribution Description
PreferredUnitsDistributionDescription
The holders of Preferred Units accrue distributions at a rate of 9.0% per annum (the “Pay Rate”), payable monthly and calculated on an actual/360 day basis. Accumulated but unpaid distributions, if any, accrue at the Pay Rate. The preferred units of limited partnership interests in our Operating Partnership rank senior to all classes or series of partnership interests in our Operating Partnership and therefore, any cash we have to pay distributions otherwise may be used to pay distributions to the holder of such preferred units first.
CY2023 sssht Preferred Units Distribution Description Rate
PreferredUnitsDistributionDescriptionRate
0.090
CY2023 us-gaap Number Of Reportable Segments
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2
CY2023 us-gaap Cost Of Revenue
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26229908
CY2022 us-gaap Cost Of Revenue
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24220074
CY2021 us-gaap Cost Of Revenue
CostOfRevenue
23326314
CY2023 sssht Operating Income Loss By Segment
OperatingIncomeLossBySegment
11438617
CY2022 sssht Operating Income Loss By Segment
OperatingIncomeLossBySegment
10210760
CY2021 sssht Operating Income Loss By Segment
OperatingIncomeLossBySegment
10944100
CY2023 us-gaap Affiliate Costs
AffiliateCosts
2484303
CY2022 us-gaap Affiliate Costs
AffiliateCosts
2436654
CY2021 us-gaap Affiliate Costs
AffiliateCosts
2832734
CY2023 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2441031
CY2022 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1718876
CY2021 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1278446
CY2023 us-gaap Depreciation
Depreciation
7070186
CY2022 us-gaap Depreciation
Depreciation
7415888
CY2021 us-gaap Depreciation
Depreciation
8674660
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
626332
CY2023 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
9023857
CY2022 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
8266519
CY2021 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
9533011
CY2023 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
320856
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
370415
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
468703
CY2021 sssht Forgiveness Of Pay Check Protection Program Loans
ForgivenessOfPayCheckProtectionProgramLoans
1971157
CY2022 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-1985602
CY2022 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
12101937
CY2023 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
147631
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
606608
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1168175
CY2023 us-gaap Profit Loss
ProfitLoss
-9753985
CY2022 us-gaap Profit Loss
ProfitLoss
725351
CY2021 us-gaap Profit Loss
ProfitLoss
-9330454
CY2023Q4 us-gaap Assets
Assets
201348756
CY2022Q4 us-gaap Assets
Assets
210454098
CY2020Q2 sssht Dealer Manager Agreement Termination Notice Period
DealerManagerAgreementTerminationNoticePeriod
P60D
CY2020Q2 sssht Dealer Manager Agreement Termination Date
DealerManagerAgreementTerminationDate
2020-06-16
CY2023 sssht Public Offering Termination Date
PublicOfferingTerminationDate
2021-05-01
CY2020Q2 sssht Dealer Manager Agreement Termination Notice Period
DealerManagerAgreementTerminationNoticePeriod
P60D
CY2020Q2 sssht Dealer Manager Agreement Termination Date
DealerManagerAgreementTerminationDate
2020-06-16
CY2022 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
3243868
CY2022 sssht Related Party Transaction Cash Paid
RelatedPartyTransactionCashPaid
1840480
CY2022Q4 sssht Related Party Transaction Payable Current And Noncurrent
RelatedPartyTransactionPayableCurrentAndNoncurrent
13084087
CY2023 us-gaap Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
3129228
CY2023 sssht Related Party Transaction Cash Paid
RelatedPartyTransactionCashPaid
550000
CY2023Q4 sssht Related Party Transaction Payable Current And Noncurrent
RelatedPartyTransactionPayableCurrentAndNoncurrent
15663315
CY2022Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount
SharesSubjectToMandatoryRedemptionSettlementTermsAmount
0
CY2023Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Amount
SharesSubjectToMandatoryRedemptionSettlementTermsAmount
0
CY2023Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
135840497
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
16908000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
193562441
CY2023Q4 sssht Real Estate Initial At Carrying Value
RealEstateInitialAtCarryingValue
210470441
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
21465445
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
16908000
CY2023Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
215027886
CY2023Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
231935886
CY2023Q4 sssht Real Estate Accumulated Depreciation Including Held For Sale
RealEstateAccumulatedDepreciationIncludingHeldForSale
40473191
CY2023Q4 srt Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
251625832
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
228006554
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
226034316
CY2020Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
270002163
CY2021 sssht Real Estate Reclassified To Held For Sale
RealEstateReclassifiedToHeldForSale
45049915
CY2023Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
231992832
CY2022Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
228006554
CY2021Q4 us-gaap Real Estate Investment Property At Cost
RealEstateInvestmentPropertyAtCost
226034316
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
33485918
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
26070030
CY2020Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
23890898
CY2023 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
7070186
CY2022 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
7415888
CY2021 us-gaap Sec Schedule Iii Real Estate Accumulated Depreciation Depreciation Expense
SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense
8674660
CY2021 sssht Accumulated Depreciation Reclassified To Held For Sale
AccumulatedDepreciationReclassifiedToHeldForSale
6495528
CY2023Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
40556104
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
33485918
CY2021Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
26070030
CY2022Q4 us-gaap Development In Process
DevelopmentInProcess
1762703
CY2021Q4 us-gaap Development In Process
DevelopmentInProcess
81552
CY2020Q4 us-gaap Development In Process
DevelopmentInProcess
103413
CY2023 sssht Development In Process Additions
DevelopmentInProcessAdditions
2578106
CY2022 sssht Development In Process Additions
DevelopmentInProcessAdditions
3653389
CY2021 sssht Development In Process Additions
DevelopmentInProcessAdditions
1060207
CY2023 sssht Development In Process Assets Placed Into Service
DevelopmentInProcessAssetsPlacedIntoService
3986278
CY2022 sssht Development In Process Assets Placed Into Service
DevelopmentInProcessAssetsPlacedIntoService
1972238
CY2021 sssht Development In Process Assets Placed Into Service
DevelopmentInProcessAssetsPlacedIntoService
1082068
CY2023Q4 us-gaap Development In Process
DevelopmentInProcess
354531
CY2022Q4 us-gaap Development In Process
DevelopmentInProcess
1762703
CY2021Q4 us-gaap Development In Process
DevelopmentInProcess
81552
CY2021Q4 sssht Real Estate Investment Property Real Estate Held For Sale Net
RealEstateInvestmentPropertyRealEstateHeldForSaleNet
38554387
CY2023Q4 sssht Real Estate Investment Property Net Excluding Real Estate Held For Sale
RealEstateInvestmentPropertyNetExcludingRealEstateHeldForSale
191791259
CY2022Q4 sssht Real Estate Investment Property Net Excluding Real Estate Held For Sale
RealEstateInvestmentPropertyNetExcludingRealEstateHeldForSale
196283339
CY2021Q4 sssht Real Estate Investment Property Net Excluding Real Estate Held For Sale
RealEstateInvestmentPropertyNetExcludingRealEstateHeldForSale
200045838

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