Priority Funds Welcomes New Partner & Co-CEO

FOR IMMEDIATE RELEASE
West Palm Beach, FL— August 23, 2024—Priority Funds, a boutique commercial real estate investment firm, is pleased to announce the appointment of Monica Parikh, CRE, who joins John Renne, Ph.D., AICP and Co-Founder and Managing Director, as Co-Chief Executive Officers, effective immediately. This strategic leadership decision reflects the company's commitment to its investors by providing exceptional operational and investment market expertise. Monica will also join John Renne, Peter Rodrigues, and Eric Greschner as a partner of the firm, and create a West Coast presence in Seattle. Priority Funds invests in commercial real estate across the United States with staff based in West Palm Beach, FL and New York.

Together, Monica and John will lead Priority Funds into its next phase of development, ensuring a seamless blend of strategic vision and operational excellence. John and Monica first worked together when she served as Deputy Director of LOCUS, a division of Smart Growth America, a national coalition of real estate developers and investors who advocate for sustainable, equitable, walkable development in America’s metropolitan areas. John was a pivotal member of the advocacy group’s Steering Committee.

Monica joins the firm after serving most recently as Director of Due Diligence for a Seattle-area wealth advisor. With an extensive background in commercial real estate investment for U.S. and European pension funds, family offices and high net worth individuals, she has been instrumental in raising capital, creating and executing investment strategies and benchmarking financial performance, positioning Priority Funds to take advantage of its focus on great places to live, work and play.

Monica describes "I am thrilled to take on this new role alongside John. Together, we will continue to build on Priority Funds’ strong foundation and create opportunities for growth. Our combined experience and shared vision will enable us to navigate the evolving landscape at the intersection of commercial real estate investment and technology to deliver outstanding results for our investors and stakeholders."

John, Peter and Eric founded the predecessor firm, The TOD Group, in 2007, evolving into Priority Funds in 2020. John is best known as a global expert on transit-orient development (TOD). He is the creator of the trademarked Renne-Greschner TOD Index® that tracks the values of homes and apartments in TODs across the U.S. and applies modern portfolio theory in comparison to the FTSE NAREIT U.S. Real Estate Index. Dr. Renne is also a Professor at Florida Atlantic University in Boca Raton, Florida where he is the Director of the Center for Urban and Environmental Solutions and also serves as a Deputy Director of the USDOT-funded Center for Equitable Transit Oriented Communities consortium.

John states, "Our partnership reflects Priority Funds’ commitment to fostering a collaborative and dynamic leadership approach. I look forward to working closely with Monica and our talented team to create investment opportunities that resonate with our clients and reflect our philosophy of investing in places people love."

Partners Peter Rodrigues and Eric Greschner expressed their confidence and excitement in the new leadership structure, highlighting the unique strengths that each Co-CEO brings to the table. "We are delighted to have John and Monica lead Priority Funds as Co-CEOs," said Pete. "Their combined expertise, vision, and dedication to our company's values make them the perfect team to guide us through our expanding platform of investment funds."

For media inquiries, please contact: