“Despite staffing challenges at our senior housing communities, I am pleased that the combined efforts of our asset management team and our third-party operating managers resulted in an increase in our year-over-year net operating income, which contributed to our increased estimated per share NAV,” said John Strockis, president and chief executive officer.

Following the recommendation of its nominating and corporate governance committee, composed solely of independent directors, the estimated per share NAV of the company’s Class A, Class T, Class W, Class Y, and Class Z shares was unanimously approved and established by the full board of directors. Kroll Real Estate Advisory Group, an independent third-party valuation firm, determined a mid-point estimated per share NAV of $6.24 for each class of common stock, which was based upon Kroll’s valuation analyses of the company’s property portfolio plus cash and other assets, less the estimated value of outstanding mortgage debt and other liabilities, divided by the number of shares issued and outstanding on an adjusted fully diluted basis, calculated as of Sept. 30, 2022. This methodology complies with the Institute for Portfolio Alternatives’ practice guideline regarding valuations of publicly registered non-listed REITs.

Consistent with the IPA guidelines, Kroll’s valuation does not include a portfolio premium that may be expected to accrue in a typical real estate valuation process conducted for transaction purposes, nor does it reflect an enterprise value.

About Strategic Student & Senior Housing Trust, Inc. (SSSHT)
Strategic Student & Senior Housing Trust is a public non-traded REIT that owns and manages a portfolio of income-producing, Class “A” student housing and senior housing communities comprised of one student housing property and four senior housing properties, as of Sept. 30, 2022. The REIT is externally advised by Strategic Asset Management I, LLC.

About Strategic Asset Management I, LLC. (SAM)
Strategic Asset Management is a diversified real estate investment company that provides a range of services to the capital markets, including acquisitions, asset and property management, leasing, development and disposition. Since 2004, Strategic Asset Management and its affiliates have completed approximately $6 billion in real estate transactions and returned more than $1.2 billion in equity and profits to investors. For more information, please visit www.SAM.com.

In his new role, Crear is responsible for the implementation of accounting and financial management policies, and Strategic Student & Senior Housing Trust’s SEC and regulatory reporting.  Previously, he served as vice president and controller of the REIT.

“Michael brings immeasurable value to our team and has played a vital role at Strategic Student & Senior Housing Trust during his time with us,” said John Strockis, president and chief investment officer. “We are pleased to have him in this expanded role with the REIT.”

In addition to his role as chief financial officer of Strategic Student & Senior Housing Trust, Crear will continue to serve as vice president of accounting for its sponsor, Strategic Asset Management, LLC. Prior to joining the SmartStop family of companies, Crear was vice president of finance and accounting for PADI Worldwide Inc., and held various positions with Alliance Healthcare Services, Inc., formerly listed on NASDAQ, including vice president of corporate finance. Crear also spent seven years with Deloitte and Touche LLP.

Crear earned a bachelor’s degree from the University of California, Santa Barbara and has been licensed as a Certified Public Accountant in California.

About Strategic Student & Senior Housing Trust, Inc. (SSSHT)

SSSHT is a public non-traded REIT that focuses on the acquisition of income-producing, Class “A” student housing and senior housing communities. SSSHT owns two student housing properties and four senior housing properties. For more information regarding SSSHT, please visit https://strategicreit.com/site/sssht.

About Strategic Asset Management, LLC

Strategic Asset Management (“SAM”) is a diversified real estate company focused on student housing and senior housing. SAM and its affiliates have a managed portfolio that includes approximately $2.0 billion of assets. Since 2007, SAM and its affiliates have transacted approximately $6.0 billion in real estate deals. SAM’s managed portfolio includes five student housing communities with approximately 2,800 beds and 1.1 million square feet of space, as well as four senior housing communities now with approximately 680 beds and 519,000 rentable square feet of space. SAM is the sponsor of Strategic Student & Senior Housing Trust, Inc., a public non-traded REIT focused on student and senior housing assets. SAM is also a national sponsor of Section 1031 exchange offerings using the Delaware statutory trust structure. SAM has a track record of full-cycle REIT liquidity events, including the all-cash merger of SmartStop Self Storage, Inc. (f/k/a Strategic Storage Trust, Inc.) with Extra Space Storage in October 2015 for $13.75 per share and the all-cash merger of Strategic Storage Growth Trust, Inc. with Strategic Storage Trust II, Inc. in January 2019 for $12.00 per share. In June 2019, SAM entered into a series of transactions with SmartStop Self Storage REIT, Inc. (“SmartStop REIT”) (f/k/a Strategic Storage Trust II, Inc.) in which SmartStop REIT acquired the self storage advisory, asset management, property management and certain joint venture interests of SAM. As a result of the transactions, SAM and its subsidiaries own limited partnership units in the operating partnership of SmartStop REIT. SmartStop REIT is now a self-administered self storage REIT that, through its wholly owned subsidiary, SmartStop REIT Advisors, LLC, sponsors other self storage programs, including Strategic Storage Trust IV, Inc. and self storage private programs.

“Strategic Asset Management believes that the ideal senior housing model is a continuum-of-care campus serving private-pay, middle-income seniors that allows residents to age in-place,” said John Strockis, president and chief investment officer of SSSHT. “We maintain a resident-focused perspective and understand the growing need to provide quality memory care in our communities. Courtyard at Mt. Tabor Pavilion delivers additional units to help offset that demand.”

The new memory care facility was constructed by R&H Construction and designed by Ankrom Moisan Architects. After breaking ground in late October 2018, the project took approximately 12 months to complete.

A grand opening ceremony will be held on Wednesday, Nov. 6, at 11 a.m. Pacific time, that will feature a ribbon cutting and topping out ceremony to commemorate the memory care unit. Jeanne Keevil, a resident of Courtyard at Mt. Tabor, introduced the community to topping out, a Scandinavian tradition dating back more than 1,000 years. The tradition involves placing a tree at the top point of a newly constructed building to pay homage to the trees that provided the lumber to construct the building and as a way to bless the new building. Keevil will be in the lift to help commence the topping out ceremony. The tree blessing will also be a part of the Vibrant Life program at Courtyard at Mt. Tabor, which is designed to connect residents with family, friends and the community. The event will be attended by executives from Strategic Asset Management, Integral Senior Living and R&H Construction as well as management, staff and residents of Courtyard at Mt. Tabor.

Courtyard at Mt. Tabor is situated on 7.1 acres of land located at 6125 and 6323 SE Division St. The full-service community has extensive dining service options; wellness care and activities; transportation; personal care and support services; housekeeping; and a 24-hour front desk staff for its residents.

“We couldn’t be more excited to commemorate the expansion at Courtyard at Mt. Tabor with Strategic Asset Management, a company that shares our mission of making the communities we manage vibrant and healthy with welcoming environments for residents and their families,” said Collette Gray, chief executive officer and chief operating officer for Integral Senior Living.

Integral Senior Living, a premier senior living operator that manages independent, assisted living and memory care properties throughout 18 states, manages the property on a day-to-day basis on behalf of Strategic Student & Senior Housing Trust.

In addition to Courtyard at Mt. Tabor, Strategic Student & Senior Housing Trust owns a portfolio of three other senior housing communities and two student housing communities.

Purchased by Strategic Student & Senior Housing Trust in August 2018, Courtyard at Mt. Tabor currently offers 286 units of independent living, assisted living and memory care.

“We are excited to break ground on this new project, which will not only expand the memory care services provided at Courtyard at Mt. Tabor, but is also expected to enhance the value of the investment for Strategic Student & Senior Housing Trust,” said John Strockis, chief investment officer. “The expansion also marks the first ground-breaking project for Strategic Asset Management and its affiliates in the senior housing space, an emerging asset class that our firm first entered into in February 2018.”

SSSHT hosted a ground-breaking ceremony on October 22, which was attended by: R&H Construction, Ankrom Moisan Architects, Simon Investments, Integral Senior Living, Courtyard at Mt. Tabor, Oregon Health Care Association and Blueprint Healthcare Real Estate Advisors.

Located at 6125 and 6323 SE Division St., Courtyard at Mt. Tabor is currently 96 percent occupied and 100 percent private pay. Situated on 7.1 acres of land in the Mt. Tabor submarket of Portland, the community was constructed between 1992 and 2009.

Courtyard at Mt. Tabor is a full-service retirement community that offers extensive dining service options, wellness care and activities, transportation, personal care and support services, housekeeping, and a 24-hour front desk staff. The property received the Caring Stars award in 2015 and 2016, a program that honors the best senior living communities in the United States based on consumer reviews.

Integral Senior Living, a premier senior living operator that manages independent, assisted living and memory care properties throughout 18 states, manages the property on a day-to-day basis on behalf of SSSHT.

“We’re so proud of the work our team has done to make this addition to our dynamic community a reality,” said Collette Gray, CEO/COO for ISL. “With the building of additional memory care living accommodations, we strive to continue establishing great relationships in Portland and provide jobs in the area. We’re also excited to be able to expand our partnership with SmartStop.”

SSSHT owns a portfolio of four senior housing communities and two student housing communities acquired for an aggregate contract purchase price of approximately $275 million.

Located at 6125 and 6323 SE Division St., Courtyard at Mt. Tabor is currently 94 percent occupied and 100 percent private pay. An expansion project that will add an additional 23-unit memory care building to the facility is scheduled to break ground in the fall of 2018.

“As an established, award-winning retirement community, Courtyard at Mt. Tabor aligns perfectly with our strategy to acquire stabilized properties that also offer an opportunity to enhance value through operational or structural improvements,” said John Strockis, chief investment officer. “The property also benefits from its ideal location in Portland, a welcoming city with premier senior housing fundamentals and high cultural acceptance of senior living communities. This property is Strategic Student & Senior Housing Trust’s fourth senior housing acquisition and a welcome addition to our diversified and growing real estate portfolio.”

Courtyard at Mt. Tabor is a full-service retirement community that offers extensive dining service options, wellness care and activities, transportation, personal care and support services, housekeeping, and a 24-hour front desk staff. The property received the Caring Stars award in 2015 and 2016, a program that honors the best senior living communities in the United States based on consumer reviews.

Situated on 7.1 acres of land in the Mt. Tabor submarket of Portland, the community was constructed between 1999, 2000 and 2009.

Integral Senior Living, a premier senior living operator that manages independent, assisted living and memory care properties throughout 18 states, has managed the property since 2011 and will continue to manage the property on a day-to-day basis on behalf of the REIT.

“We look forward to being partners with Strategic Student & Senior Housing Trust at Courtyard at Mt. Tabor,” said Collette Valentine-Gray, Integral Senior Living’s CEO and COO. “SSSHT is a top-notch company that intends to continue to invest in senior-living communities, with an eye to enhancing amenities and services. They share our vision and mission of making our communities vibrant, healthy and welcoming environments for residents and their families.”

SSSHT now owns a portfolio of four senior housing communities and two student housing communities acquired for an aggregate contract purchase price of approximately $275 million.

SSSHT intends to qualify as a real estate investment trust for federal income tax purposes for the taxable year ended December 31, 2017 and will offer up to $1.0 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.

A copy of the final prospectus for the offering is available without charge upon written request addressed to Strategic Student & Senior Housing Trust, Inc., 10 Terrace Road, Ladera Ranch, California 92694 or by phone at (877) 327-3485.

About Strategic Student & Senior Housing Trust, Inc. (SSSHT)

SSSHT is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SSSHT focuses on the acquisition of income-producing, Class “A” student housing and senior housing communities. SSSHT owns two student housing properties and three senior housing properties.

About Strategic Asset Management, LLC (SmartStop)

SmartStop is a diversified real estate company focused on self storage, student housing and senior housing assets. The company has approximately $1.5 billion of real estate assets under management, including 114 self storage facilities located throughout the United States and Toronto, Canada, comprised of approximately 72,000 units and 8.3 million rentable square feet. SmartStop’s real estate portfolio also includes five student housing communities with approximately 2,800 beds and 1.1 million square feet of space, as well as three senior housing communities with approximately 350 beds and 250,000 rentable square feet of space. SmartStop is the sponsor of four public non-traded REITs: Strategic Storage Trust IV, Inc., Strategic Storage Trust II, Inc., and Strategic Storage Growth Trust, Inc., all focused on self storage assets, and Strategic Student & Senior Housing Trust, Inc., focused on student and senior housing assets. The company is also a national sponsor of Section 1031 exchange offerings using the Delaware statutory trust structure. Additional information regarding SmartStop is available at www.SAM.com and more information regarding SmartStop® Self Storage in the United States and Canada is available at www.smartstopselfstorage.com.

This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “anticipate,” “estimate,” “believe,” “continue,” or other similar words. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from the expectations, intentions, beliefs, plans or predictions of the future expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to: uncertainties relating to changes in general economic and real estate conditions; uncertainties relating to the implementation of our real estate investment strategy; uncertainties relating to financing availability and capital proceeds; uncertainties relating to the closing of property acquisitions; uncertainties relating to the public offering of our common stock; uncertainties related to the timing and availability of distributions; and other risk factors as outlined in SSSHT’s prospectus, as amended from time to time. This is neither an offer nor a solicitation to purchase securities.

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The property is managed by an affiliate of MBK Senior Living, LLC, an owner/manager of independent living, assisted living and memory care communities throughout the United States. The Wellington is a multi-year Best of State award recipient for independent senior living and assisted living facilities in the merchandising and consumer services category.

“We are proud of the accomplishments of MBK Senior Living and their mission to exceed the quality, service and care expectations of the seniors they serve,” said John Strockis, chief investment officer. “Their dedication at The Wellington shines brightly as a multi-year Best of State award recipient, a prestigious recognition for their hard work.”

The Wellington is a Class A, 119-unit/140-bed, assisted living community located at 4522 South 1300 East in Millcreek, Utah. Amenities at the property include a library, computer center, dining room, bistro, art studio, fitness center, beauty salon and common area Wi-Fi. The Wellington also features an assisted living-focused resident enrichment program that offers classes and activities that promote physical fitness, intellectual stimulation and social interactions.

The Best of State Awards were created to recognize outstanding individuals, organizations and businesses in Utah. The judges look for individuals, businesses and organizations that excel in their endeavors, use innovative approaches or methods, and contribute to a better quality of life in Utah. For more information about the awards program, visit www.bestofstate.org.

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“The acquisition of the Salt Lake City assisted living portfolio provides Strategic Student & Senior Housing Trust with three established senior housing properties, each with full amenities packages,” said John Strockis, chief investment officer. “Additionally, this acquisition marks SmartStop’s entry into the senior housing space, an emerging asset class.”

The portfolio includes The Wellington, Cottonwood Creek and The Charleston at Cedar Hills, all best-in-class, purpose-built assisted living communities with strong historical occupancies. Each community provides residents with all-day dining services, activity rooms with daily programming, transportation, cafes and lounges, wireless internet, libraries, fitness/therapy rooms, private dining rooms, outdoor courtyards and beauty salons.

The Wellington is a 119-unit/140-bed assisted living community located at 4522 South 1300 East in Salt Lake City. The property is a multi-year recipient of the Best of State – Utah award in the merchandising and consumer services category.

Cottonwood Creek is a 111-unit/136-bed assisted living facility located at 1245 East Murray Holladay Road in Salt Lake City. Each unit at the facility is equipped with sliding glass doors leading to a balcony or patio.

The Charleston is a 64-unit/78-bed assisted living facility located at 10020 North 4600 West in Cedar Hills. The property, which also offers short-term/respite care, is a recipient of SeniorAdvisor.com’s 2016 and 2018 Best of Senior Living awards.

About Strategic Student & Senior Housing Trust, Inc. (SSSHT)

SSSHT is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. SSSHT focuses on the acquisition of income-producing, Class “A” student housing and senior housing communities. SSSHT owns two student housing properties, along with an approximately 2.6% beneficial interest in a DST that owns another student housing property, and three senior housing properties.

About Strategic Asset Management, LLC (SmartStop)

SmartStop is a diversified real estate company focused on self storage assets, along with student and senior housing. The company has approximately $1.5 billion of real estate assets under management, including 111 self storage facilities located throughout the United States and Toronto, Canada, comprised of approximately 70,000 units and 8.1 million rentable square feet. SmartStop’s managed portfolio also includes five student housing communities with approximately 2,800 beds and 1 million square feet of space, as well as three senior housing communities with 354 beds and approximately 251,000 square feet of space. SmartStop is the sponsor of Strategic Storage Trust II, Inc., Strategic Storage Growth Trust, Inc. and Strategic Storage Trust IV, Inc., all public non-traded REITs focusing on self storage assets. The facilities offer affordable and accessible storage units for residential and commercial customers. In addition, they offer secure interior and exterior storage units as well as outside storage areas for vehicles, RVs and boats. Additional information regarding SmartStop is available at www.SAM.com and more information regarding SmartStop® Self Storage in the United States and Canada is available at www.smartstopselfstorage.com.

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“The Domain at Tallahassee is a purpose-built, newly constructed and 100 percent leased student housing community located just a short walk away from Florida State University, which has more than 41,000 students,” said H. Michael Schwartz, chief executive officer of Strategic Student & Senior Housing Trust. “The amenities-rich, Class A property features a modern suburban-wrap design, and fits well with our acquisition strategy of acquiring core, stabilized student housing assets adjacent to Tier 1 universities.”

Located at 700 W. Virginia St. on 3.71 acres of land, The Domain at Tallahassee is one block from campus, offering students easy access to the Student Union, Business School and North Campus Library and Learning Commons. Floor plans range from one to four bedrooms and each fully furnished unit includes one bathroom per bedroom parity for enhanced privacy. Community amenities include secure access, a 24-hour fitness facility, resort style pool, computer center, private study rooms, coffee bar and more. Incorporated throughout the property is a fiber optic cable with broadband speeds of one gigabit per second, which supports connectivity to multiple devices at a time.

“This pedestrian-to-campus student housing property is built to help each of its Florida State University residents become more productive by providing secure housing that features onsite, round-the-clock fitness, high-speed internet, study rooms and close proximity to campus” said John Strockis, senior vice president of acquisitions. “The Domain at Tallahassee is the premier, amenities-rich, off campus student housing community at Florida State University.”

Asset Campus Housing serves as the third party manager of The Domain at Tallahassee. A member of The Institute of Real Estate Management, the firm is recognized as an Accredited Management Organization and currently manages in excess of 210 properties and 118,500 beds. The Domain at Tallahassee was developed by Asset Plus Companies, an affiliate of Asset Campus Housing, which requested SmartStop bid on the student housing community.

Founded in 1851, Florida State University has more than 41,000 students from every Florida county and 140 countries. According to its website, the university is one of the nation’s elite research universities, and The Journal of Criminal Justice Education ranked Florida State’s College of Criminology and Criminal Justice No. 1 in the nation for faculty research. A Division 1 school in the Atlantic Coast Conference, the Florida State University Seminoles have won 14 national championships in nine sports.

About Strategic Student & Senior Housing Trust, Inc.

Strategic Student & Senior Housing Trust, Inc. is a Maryland corporation that intends to qualify as a real estate investment trust for federal income tax purposes. Strategic Student & Senior Housing Trust focuses on the acquisition of income-producing, Class “A” student housing and senior housing communities.

About Strategic Asset Management, LLC (SmartStop)

SmartStop is a diversified real estate company focused on self storage assets, along with student and senior housing. The company has more than $1.3 billion of real estate assets under management, including 108 self storage facilities located throughout the United States and Toronto, Canada, comprised of roughly 68,000 units and 7.9 million rentable square feet. SmartStop’s real estate portfolio also includes three student housing facilities with approximately 1,375 beds and 610,000 square feet of space. SmartStop is the sponsor of Strategic Storage Trust II, Inc., Strategic Storage Growth Trust, Inc. and Strategic Storage Trust IV, Inc., all public non-traded REITs focusing on self storage assets. The facilities offer affordable and accessible storage units for residential and commercial customers. In addition, they offer secure interior and exterior storage units as well as outside storage areas for vehicles, RVs and boats. SmartStop is also the sponsor of Strategic Student & Senior Housing Trust, a private REIT focused on the acquisition of student and senior housing communities. Additional information regarding Strategic Asset Management is available at www.SAM.com and more information regarding SmartStop® Self Storage in the United States and Canada is available at www.SmartStop.com.

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Formerly known as Sterling District, the 2.3-acre student housing property is located at 376 W. Watson St. and includes one-, two-, three- and four-bedroom, fully furnished floor plans. The District is currently 95 percent pre-leased for the 2017-2018 academic year.

“The District represents a best-in-class, off-campus, purpose-built and pedestrian-to-campus student housing community at the University of Arkansas,” said H. Michael Schwartz, chief executive officer of Strategic Student & Senior Housing Trust. “Completed in 2016, The District is an amenities-rich and modern urban wrap-design property that is consistent with our acquisition strategy of acquiring stabilized and purpose-built student housing assets adjacent to Tier 1 universities. The property includes many safety features, such as gated access, pass-key systems, on-site management with regular security patrols and an on-site, six-story controlled access parking garage. In addition, we have retained Asset Campus Housing, one of the nation’s premier third-party student housing managers, to provide on-site management.”

Asset Campus Housing, which is a member of The Institute of Real Estate Management and is recognized as an Accredited Management Organization, currently manages in excess of 210 properties and 118,500 beds.

“Situated three blocks from campus and the famed Dickson Street, part of the U.S. National Register of Historic Places, The District provides residents with great access to the campus, community and their peers,” said John Strockis, senior vice president of acquisitions of the REIT. “The property also includes a 500 megabytes-per-second internet service that further promotes connectivity for students and parents.”

Each apartment unit is fully furnished with state-of-the-art amenities and energy efficient appliance packages. Community amenities include a computer lab and business center; study rooms; an expansive pool, spa and courtyard; and a fitness facility with a separate yoga room.

The District is certified by the U.S. Green Building Council as LEED-Gold, the second-highest certification level that recognizes properties that use less water and energy, and reduce greenhouse gas emissions. In addition to its energy efficient appliances and other amenities, the property also provides preferred parking for fuel efficient vehicles, a bike-sharing program, increased natural light and close proximity to mass transit for ride-sharing.

About Strategic Student & Senior Housing Trust, Inc.

Strategic Student & Senior Housing Trust, Inc. is a Maryland corporation that intends to quality as a real estate investment trust for federal income tax purposes. Strategic Student & Senior Housing Trust focuses on the acquisition of income-producing, Class “A” student housing and senior housing communities.

About Strategic Asset Management, LLC (SmartStop)

SmartStop is a diversified real estate company focused on self storage, student and senior housing assets. The company has a managed portfolio that currently includes more than 68,000 self storage units and 7.8 million rentable square feet and approximately $1.3 billion of real estate assets under management. The company is the asset manager for 108 self storage facilities located throughout the United States and Toronto, Canada and two student housing facilities. SmartStop is the sponsor of Strategic Storage Trust II, Inc., Strategic Storage Growth Trust, Inc. and Strategic Storage Trust IV, Inc., all public non-traded REITs focusing on self storage assets. Additional information is available at www.smartstopassetmanagement.com and more information about SmartStop® Self Storage in Canada at smartstop.ca.

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