Strategic Student & Senior Housing Trust Inc. filed a registration statement to offer up to roughly $1.10 billion of the company's common stock through a best efforts offering.
Strategic Student, which intends to qualify as a real estate investment trust, will offer up to $1.00 billion of shares of common stock in its primary offering and up to $95.0 million of stock pursuant to its distribution reinvestment plan. Three classes of shares — classes A, T and W — will be offered by the company. The share classes will carry different sales commissions and the class T shares will include an ongoing stockholder servicing fee, while the class W shares have an ongoing dealer manager servicing fee.
The company intends to use a big part of the proceeds from the offering to invest in student housing and seniors housing properties, as well as other real estate assets. Strategic Student noted that it has not identified any properties to purchase using the proceeds, making it a "blind pool" offering where investors would have the chance to review the investments the company will make before acquiring any shares in the offering.
Select Capital Corp. is the dealer manager for the offering, while SSSHT Advisor LLC is serving as an adviser.
