Strategic Student & Senior Housing Trust (SSSHT), a public nontraded real estate investment trust sponsored by SmartStop Asset Management, announced that its registration statement pertaining to an initial public offering of approximately $1.1 billion in shares of common stock was declared effective by the Securities and Exchange Commission on May 1, 2018.
SSSHT intends to qualify as a real estate investment trust for federal income tax purposes for the taxable year ended Dec. 31, 2017, and will offer up to $1 billion in shares of its common stock in its primary offering, consisting of three classes of shares: class A shares at $10.33 per share (up to $450 million in shares); class T shares at $10.00 per share (up to $450 million in shares); and class W shares at $9.40 per share (up to $100 million in shares).
SSSHT is also offering up to $95 million in shares of its common stock pursuant to its distribution reinvestment plan at $9.81 per share for class A shares, $9.50 per share for class T shares, and $9.40 per share for class W shares.
SSSHT intends to primarily invest in a portfolio of income-producing student housing and senior housing real estate assets. SSSHT owns two student housing properties and three senior housing properties.
