Janus Living, Inc. (NYSE: JAN) completed its initial public offering of 48.3 million shares of Class A-1 common stock at $20 per share, according to a statement from Healthpeak Properties, Inc. (NYSE: DOC) and Janus Living.

The offering included the full exercise of underwriters' option to purchase an additional 6.3 million shares. Shares began trading on the New York Stock Exchange on March 20, 2026 under the ticker symbol "JAN."

Janus Living received net proceeds of approximately $878 million after deducting underwriting discount and estimated expenses. The company stated it expects to use the proceeds for acquisition and investment opportunities that meet its investment criteria and for general corporate purposes.

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

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

The offering was conducted through a registration statement on Form S-11 that was declared effective by the Securities and Exchange Commission.