Strategic Student & Senior Housing Trust (SSSHT) is a non-traded REIT that owns and operates four private-pay senior housing properties. The company originally invested in both student and senior housing but sold its last student housing asset in July 2024 and is now exclusively a senior housing owner. Its four properties span the middle of the acuity spectrum — independent living, assisted living, and memory care — and are positioned as amenity-rich, purpose-built facilities in favorable demographic markets. SSSHT does not manage its properties directly; a third-party operator handles day-to-day operations, overseen by an affiliated property manager, and the company itself has no employees. SSSHT is externally advised by an affiliate of its sponsor, Strategic Asset Management I. Revenue comes from resident rents at its private-pay properties, meaning revenue depends on occupancy and market-rate monthly fees rather than government reimbursement schedules. The company targets 55–60% loan-to-purchase-price leverage and is structured as a REIT, requiring it to distribute the majority of taxable income. SSSHT suspended its primary equity offering in 2020 and terminated it in 2021 due to COVID-19 uncertainty, which also prompted a suspension of stockholder distributions. With no ability to raise new equity, SSSHT is not actively acquiring properties and is focused solely on managing its existing portfolio. The board is evaluating potential liquidity events — including asset sales, a merger, or a stock listing — though timing remains uncertain.