Phoenix Senior Living Creates New President Role With Eye On Expansion

Phoenix Senior Living has promoted Seth Pesek into a newly created president role in an effort to prepare for its next growth phase.

Pesek stepping into the new job represents a “significant milestone” for the company, which CEO Jesse Marinko founded about a decade ago.

“It was about timing and alignment,” Marinko told Senior Housing News. “It felt like the right alignment of resources as a company, and we had the right person to do it.”

Phoenix Senior Living is yet another senior living operator bolstering its executive-level leadership in recent weeks with a period of growth in sights. Other examples include United Church Homes’ Ken Young taking over as CEO, Pegasus Living naming two co-presidents and Watermark Retirement naming a new COO ahead of anticipated growth with new construction.

Pesek previously was the company’s CFO, a position under which he helped steward and improve the company’s financial performance and operations.

Marinko added Pesek has the “perfect balance of mission and margin that is needed” for his new role as president.

With Pesek’s promotion, Phoenix is looking to backfill the CFO role. Marinko said the company is going to “continue to invest in team members” to continue to strengthen its bench.

“The good news for Seth is it was a great alignment piece, but it’s not like he’s got to build a ship,” Marinko said. “The ship was kind of here, and it was built. It’s finally got another captain besides [me], and I think that’s always a key component.”

Phoenix Senior Living plans to grow in 2025 through a combination of acquisitions and, if construction costs, interest rates and cap rates are in the right spot, ground-up development.

Prior to 2021, Phoenix Senior Living was developing two to four communities per year. Once development becomes more viable, Marinko said the company will likely develop one to two per year in areas where land has already been purchased.

“I’m pretty bullish. The next three to five years can be a pretty historic run for senior housing,” Marinko said. “We’re definitely active in looking at acquisitions. We’d love to get that development pipeline back up and going.”

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