Priority Life Care is announcing the launch of a new $10 million fund to accelerate its growth, with Dennis Murphy as its first-ever Chief Investment Officer. The fund aims to attract co-investment in senior living acquisitions and build upon the company’s foundation. With Murphy’s experience in senior living operations, Priority Life Care is ready to embark on a new venture and chapter in 2024.
The company’s goal is to start small with the $10 million fund, gradually ramping up future funds after the initial phase. By structuring co-investment alongside capital partners, PLC aims to gain more cohesiveness in contracts and provide opportunities for employees to invest in the fund. This new fund will allow Priority Life Care to access joint venture opportunities, strengthen regional density with existing communities, and prepare for future industry demands.
CEO Sevy Petras, drawing from her investment banking background, sees the current real estate cycle as an opportune time for growth. The new fund represents a significant milestone for Priority Life Care’s upward growth trajectory, following a successful 2023 expansion and strategic partnerships with Ventas. The company’s focus on technology and data-driven services, such as the Embrace program, reflects its commitment to providing high-quality care for residents.
As Petras looks towards the future, she envisions a continued path of growth and success for Priority Life Care, reinforced by strong partnerships and a dedication to excellence in senior living management.
