Healthpeak Properties and Janus Living Announce Closing of Janus Living Initial Public Offering

Key Terms

initial public offering financial

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

prospectus regulatory

A prospectus is a detailed document that explains a company's plans for offering new shares or investments to the public. It’s important because it provides potential investors with key information about the company’s business, risks, and how they might make money, helping them decide whether to invest. Think of it as a guidebook for understanding what you're buying into.

registration statement on Form S-11 regulatory

A registration statement on Form S-11 is a detailed disclosure document filed with the U.S. Securities and Exchange Commission when certain real estate companies or similar issuers offer securities to the public. It lays out the company’s business, properties, financial statements, risks, and the terms of the offering — like a product label or instruction sheet — so investors can judge the investment’s nature and safety before deciding to buy.

DENVER--(BUSINESS WIRE)-- Healthpeak Properties, Inc. (NYSE: DOC) (“Healthpeak”) and Janus Living, Inc. (NYSE: JAN) (“Janus Living”) announced today that Janus Living has completed its initial public offering of 48,300,000 shares of its Class A-1 common stock, which includes the exercise in full by the underwriters of their option to purchase up to an additional 6,300,000 shares of Class A-1 common stock, at a price to the public of $20.00 per share.

Shares of Janus Living’s Class A-1 common stock began trading on the New York Stock Exchange on March 20, 2026 under the ticker symbol “JAN.”

The net proceeds from the offering were approximately $878 million, after deducting the underwriting discount and estimated expenses payable by Janus Living. Janus Living expects to use the net proceeds received from the offering to pursue acquisition and investment opportunities that meet its investment criteria and for general corporate purposes.

BofA Securities and J.P. Morgan acted 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 for the offering. BNP PARIBAS, Credit Agricole CIB, KeyBanc Capital Markets, PNC Capital Markets LLC, Scotiabank, TD Securities, and Truist Securities acted as senior co-managers for the offering. BTIG, Capital One Securities, ​Huntington Capital Markets, ​M&T Securities, ​Raymond James, ​Regions Securities LLC, ​Santander, and ​SMBC Nikko ​acted as co-managers for the offering.

The offering was made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained from: BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001 or by email to dg.prospectus_requests@bofa.com; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by email at prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com.

A registration statement on Form S-11, including a prospectus, relating to these securities has been declared effective by the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

ABOUT HEALTHPEAK PROPERTIES

Healthpeak Properties, Inc. is a fully integrated real estate investment trust (REIT) and S&P 500 company. Healthpeak owns, operates and develops high-quality real estate focused on healthcare discovery and delivery.

ABOUT JANUS LIVING

Janus Living, Inc. is a pure-play senior housing real estate investment trust (REIT) that owns high-quality communities across the United States that support residents with thoughtfully designed, highly amenitized environments.

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Andrew Johns, CFA

Senior Vice President – Finance and Investor Relations

720-428-5400

Jonathan Hughes, CFA

Senior Vice President – Finance and Investor Relations

720-428-5050

Source: Healthpeak Properties, Inc.