Strategic Student & Senior Housing Trust, Inc. (“SSSHT” or the “Company”) Form 8 K

Re: Strategic Student & Senior Housing Trust, Inc. ("SSSHT" or the "Company")

Second Quarter 2024 Letter to Stockholders

Dear Stockholder,

I am pleased to report that the sale of our Fayetteville student property closed on July 31, 2024, at the agreed upon price of $72.25M. This asset sale allowed the Company to: 1) pay off our entire $25.4M KeyBank bridge loan, 2) pay off the $34.5M first mortgage on the Fayetteville student property, 3) increase liquidity, and 4) allow for a stockholder distribution of the net capital gain anticipated to be paid in the fourth quarter of 2024.

With the sale of the Fayetteville student property now closed, the Company has four remaining senior housing properties. Unlike the more active Class A student housing capital markets, the senior housing capital markets have yet to fully recover post-Covid. Generally speaking, too few senior housing investors are pursuing an increasing supply of senior properties and it's a difficult market to sell senior housing properties.

So, what is the Company's plan going forward?

Below is a summary of our senior housing property operating results comparing the second quarter of 2024 to the second quarter of 2023:

As of June 30, 2024, senior housing occupancies were approximately 92%, as compared to approximately 89% as of March 31, 2024. An increase of approximately 3%.

Update on Goals for 2024

We continue to meet our goals set forth in my 2024 Annual Stockholder letter:

Our emphasis continues to be on improving the financial performance at each of our senior housing properties until interest rates fall and the senior housing capital markets recover.

Sincerely,

Certain statements contained in this letter, 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 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. Such statements include, in particular, statements about our plans, strategies, and prospects and, in this letter, include our statements about expectations as to vaccination rates, resulting increased leads, tours and move-ins, student housing decisions and the pace of our expected recovery, all of which are subject to certain risks and uncertainties, including known and unknown risks, and are based on a number of assumptions 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. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this letter. We cannot guarantee the accuracy of any such forward-looking statements contained in this letter, and we do not intend to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. The risks, uncertainties, assumptions and other factors that could cause such forward-looking statements not to come to fruition include, among other things, future economic, competitive, and market conditions, including without limitation changes in the political and economic climate, economic conditions and fiscal imbalances in the United States and in the markets in which we operate, and other major developments, including wars, natural disasters, epidemics and pandemics, military actions, and terrorist attacks. The occurrence or severity of any such event or circumstance is difficult or impossible to predict accurately. To the extent that our assumptions differ from actual results, our ability to meet such forward-looking statements, including our ability to generate positive cash flow from operations and provide distributions to stockholders, and our ability to find suitable investment properties, may be significantly hindered. These risk and uncertainties that could cause forward-looking statements not to come to fruition also include those items that we identify as "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023, our quarterly reports on Form 10-Q and other reports that we file from time to time with the Securities and Exchange Commission.