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SEC Approves Initial Public Offering for Strategic Student & Senior Housing Trust

Ladera Ranch, Calif. — The Securities and Exchange Commission (SEC) has allowed a new housing REIT, Strategic Student & Senior Housing Trust, to launch its $1.1 billion initial public offering.

The public, non-traded REIT will focus exclusively on student housing and seniors housing assets. SmartStop Asset Management, a Ladera Ranch-based company specializing in self-storage assets, sponsors the new REIT. The company acquired a 760-bed student housing community near the University of South Carolina for $64.5 million in February, and a 345-bed student housing community near the University of Michigan for $43.8 million in January of this year.