Senior Housing
Communication with our senior living operators, ISL and MBK, aboutCOVID-19 planning and protocols have been consistent and regular. Both operators’COVID-19 mitigation plans are well thought out and follow or, in some cases, exceed CDC, State and local public health guidelines. The plans include the following:
| • | | A letter to residents and families restricting visitors to the facilities until further notice to “Essential Visitors” defined as employees, care providers & medical personnel. |
| • | | All Essential Visitors will be screened and have temperatures taken and documented at the start of each shift or visit. |
| • | | No new prospect property tours allowed until further notice. |
| • | | Anybody who has traveled internationally in the past 14 days will not be permitted to enter the facility. |
| • | | While our senior living communities are not technically defined as “Healthcare Facilities” by the CDC, our operators are choosing to follow these more robust guidelines to mitigate the chances ofCOVID-19 from entering our communities. |
We will continue to work with our property managers and operators to adapt and implement any new CDC guidelines that will further protect our residents.
There is no way to predict the extent to whichCOVID-19 will impact our overall financial results. In light of such, we believe it is prudent to retain cash and preserve financial flexibility. Accordingly, our board of directors approved the suspension of (i) all distributions to our stockholders and (ii) our share redemption program. All pending redemption requests will not be redeemed, nor will any additional requests received hereafter be redeemed, until further notice.
Finally, based upon various factors, including the uncertainty relating toCOVID-19 and its potential impact on our company and our overall financial results, our board approved the suspension of the primary portion of our public offering effective immediately.
At Strategic Student & Senior Housing Trust, we continue to believe in the long-term fundamentals of the student and senior housing asset classes. As has always been the case, our goal is to judiciously protect stockholder equity, and we are taking steps to do so through the current economic climate.
We hope you and your family remain safe and healthy during this tumultuous time.
Sincerely,

H. Michael Schwartz
Chief Executive Officer and Chairman of the Board of Directors