Janus Living, Inc. priced its initial public offering of 42 million shares of Class A-1 common stock at $20.00 per share, raising $840 million, according to a statement from Healthpeak Properties, Inc. (NYSE: DOC) and Janus Living.

The underwriters received a 30-day option to purchase up to an additional 6.3 million shares at the IPO price, less underwriting discount. Janus Living's Class A-1 common stock is expected to begin trading on the New York Stock Exchange on March 20, 2026 under ticker symbol "JAN." The IPO is expected to close on March 23, 2026.

Janus Living plans to use net proceeds from the IPO to pursue acquisition and investment opportunities that meet its investment criteria and for general corporate purposes.

Following the IPO completion, Healthpeak will own approximately 214.7 million shares of Janus Living common stock, representing approximately 83.6% voting interest in the company. If the underwriters exercise their option in full, Healthpeak's voting interest would be 81.6%.

BofA Securities and J.P. Morgan serve as lead book-running managers for the offering. Wells Fargo Securities, Barclays, Goldman Sachs & Co. LLC, RBC Capital Markets, and Morgan Stanley act as bookrunners.

Healthpeak Properties is a real estate investment trust focused on healthcare-related properties and is an S&P 500 company. Janus Living is described as a senior housing REIT that owns communities across the United States.