January 28, 2019
PHOENIX–Canexxia Equity Partners (“Canexxia”), a New York-based Assisted Living and Home Health Care investment firm, announced it has opened of its first discretionary investment fund, Canexxia Senior Housing Fund I LP. This $312 million asset backed fund will target senior housing properties providing private pay independent living, assisted living and home health care services to senior citizens across the continental United States. The firm expects to invest approximately $900 million into senior housing assets over the next 18 months.
Canexxia was formed in 2018 by its founding Principals, Maceo Jourdan and Jim Toner. The founders have successfully acquired real estate assets nationwide in partnership with several institutional investors. “Senior Housing is not only fragmented,” Toner noted, “there is a growing demand for communities that focus on improving resident’s lifestyle. Since this is an unprecedented time to acquire properties at great valuations, we are aggressively looking to acquire properties, build critical mass, and disrupt the entire industry.”
“We’ve been able to open relationships with investors who not only share our vision for aggressive growth in Senior Living, as a company we are uniquely qualified to be at this once-in-a-lifetime opportunity to bring together technology and medicine,” Jourdan added. “Our number 1 aim is to improve our resident’s lifestyle by aggressively adding to our portfolio we gain economies of scale, including access to public markets, in order to make cutting-edge improvements that significantly add to our resident’s well being.”
This is the firm’s first comingled discretionary investment vehicle, though the founders have a long history of creating investment partnerships with highly respected institutional investors as well as private investment throughout the country. Through these earlier vehicles, the firm has invested more than $318 million to date into real estate assets in the U.S.