Senior Housing REIT Janus Living Files for U.S. IPO

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Janus Living, a real estate investment trust (REIT) focused on senior housing, has publicly filed paperwork for a U.S. initial public offering (IPO). The company's portfolio consists of 34 senior housing communities comprising more than 10,000 units, primarily located in major retirement markets in Florida and Texas. Janus Living's parent company, Healthpeak Properties, announced earlier this year that it would be carving out its senior housing portfolio into a separate publicly-traded REIT.

Why it matters

The U.S. IPO market has faced heightened volatility in recent weeks due to concerns around AI-related disruptions, forcing some companies to downsize or postpone their stock market flotations. Janus Living's IPO filing suggests that AI-resistant themes, such as senior housing, could drive the IPO market in the near-term as investors seek more stable investments.

The details

Janus Living's adjusted Funds From Operations (FFO), a key performance measure for REITs, was $150.8 million in 2025, compared to $137.5 million a year earlier. BofA Securities and J.P. Morgan are the lead book-running managers for the offering, and Janus Living will list on the New York Stock Exchange under the symbol "JAN". Healthpeak Properties will retain a majority interest in Janus Living after the offering.

• Janus Living publicly filed paperwork for a U.S. IPO on February 27, 2026.
• Healthpeak Properties announced earlier this year that it would be carving out its senior housing portfolio into a separate publicly-traded REIT.

What’s next

Janus Living's IPO is expected to take place in March, as the company looks to tap into the public markets during a window of increased activity.