Strategic Student & Senior Housing Trust Inc., a private real estate investment trust sponsored by SmartStop Asset Management LLC, has purchased a portfolio of three senior housing communities consisting of 294 units/354 beds located in the greater Salt Lake City area. The purchase price was not disclosed.
“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, which have 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.
Strategic Student & Senior Housing Trust focuses on the acquisition of income-producing, Class A student housing and senior housing communities. The company owns two student housing properties, an approximately 2.6 percent beneficial interest in a Delaware statutory trust that owns another student housing property, and three senior housing properties.