New York-based Canexxia Equity Partners has opened a $312 million discretionary investment fund and expects to invest approximately $900 million into senior housing assets over the next 18 months, the firm announced Friday.

The asset-backed Canexxia Senior Housing Fund I LP, the firm’s first discretionary investment fund, will target senior housing properties providing private-pay independent living, assisted living and home healthcare services to older adults across the continental United States, Canexxia said.

“Senior housing is not only fragmented; there is a growing demand for communities that focus on improving residents’ lifestyle,” said Jim Toner, who founded Canexxia with Maceo Jourdan in 2018. “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.”

Canexxia said that it has invested more than $318 million into real estate assets in the United States through earlier vehicles.