Healthpeak Properties, Inc. reports beneficial ownership of 214,734,026 shares of Janus Living, Inc. Class A-1/Common (combined A-1 and A-2 economic exposure), representing 81.6% of the class as disclosed in this Schedule 13G as of 03/31/2026. The filing states this total comprises 138,816,246 shares of Class A-1 Common Stock and 75,917,780 shares of Class A-2 Common Stock held through Janus Member, LLC and related subsidiaries. The filing also explains that the Class A-2 shares reflect voting rights tied to operating partnership units and are cancelled upon redemption on a one-for-one basis with Class A-1 or cash. Healthpeak controls the voting and disposition of these securities.
Positive
None.
Negative
None.
Insights
Healthpeak discloses a controlling stake in Janus Living.
Healthpeak is shown holding 214,734,026 shares (81.6%) via subsidiaries, combining Class A-1 and voting-linked Class A-2 positions as of 03/31/2026. The filing attributes sole voting and dispositive power to Healthpeak.
Control arises partly from OP Units-linked Class A-2 shares that are cancellable upon redemption one-for-one into Class A-1 or cash. Subsequent disclosures or transactions by Healthpeak or the operating partnership will determine future voting composition and dilution dynamics.
Key Figures
Beneficial ownership:214,734,026 sharesPercent of class:81.6%Class A-1 shares:138,816,246 shares+3 more
6 metrics
Beneficial ownership214,734,026 sharesTotal reported holdings (combined A-1 and A-2)
Percent of class81.6%Percentage of class reported in Item 4
Class A-1 shares138,816,246 sharesPart of the 214,734,026 total
Class A-2 shares75,917,780 sharesVoting-linked shares tied to OP Units, part of the total
Reporting date03/31/2026Date shown on the filing cover/header
Signature date05/14/2026Schedule 13G signed by corporate officer
Key Terms
Class A-2 Common Stock, OP Units, beneficially owned
3 terms
Class A-2 Common Stockregulatory
"The Class A-2 Common Stock represents the voting rights associated"
OP Unitsmarket
"voting rights associated with the operating partnership units in Janus Living OP, LLC"
OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
How many Janus Living shares does Healthpeak (JAN) report owning?
Healthpeak reports beneficial ownership of 214,734,026 shares, comprising 138,816,246 Class A-1 and 75,917,780 Class A-2 shares as shown in the filing.
What percent of Janus Living does Healthpeak own according to the Schedule 13G?
The Schedule 13G states Healthpeak beneficially owns 81.6% of the class, based on the combined Class A-1 and Class A-2 share counts disclosed.
How is the Class A-2 Common Stock described in the filing?
The filing explains Class A-2 Common Stock represents voting rights tied to operating partnership units and are cancelled upon redemption for cash or one-for-one into Class A-1 shares.
Who controls the voting and disposition of the disclosed shares?
The filing states that Healthpeak controls the voting and disposition of the securities held through Janus Member, LLC and related indirect subsidiaries.
What entities filed the Schedule 13G for this position?
The Schedule 13G is filed by Healthpeak Properties, Inc. and Janus Member, LLC, with principal offices listed at 4600 South Syracuse Street, Denver, CO.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Janus Living, Inc.
(Name of Issuer)
Class A-1 Common Stock
(Title of Class of Securities)
471024109
(CUSIP Number)
03/31/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
471024109
1
Names of Reporting Persons
Healthpeak Properties, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MARYLAND
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
214,734,026.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
214,734,026.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
214,734,026.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
81.6 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Represents 138,816,246 shares of Class A-1 Common Stock and 75,917,780 shares of Class A-2 Common Stock held by Janus Member, LLC, an indirect subsidiary of Healthpeak Properties, Inc. ("Healthpeak"). The Class A-2 Common Stock represents the voting rights associated with the operating partnership units in Janus Living OP, LLC ("OP Units") held by CCRC PropCo Ventures, LLC, an indirect subsidiary of Healthpeak, and shares of the Class A-2 Common Stock are cancelled upon the redemption of the OP Units for cash, or shares of Class A-1 Common Stock, at the election of the Janus Living OP, LLC, on a one-for-one basis. Healthpeak controls the voting and disposition of these securities.
SCHEDULE 13G
CUSIP Number(s):
471024109
1
Names of Reporting Persons
Janus Member, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
214,734,026.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
214,734,026.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
214,734,026.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
81.6 %
12
Type of Reporting Person (See Instructions)
CO
Comment for Type of Reporting Person: Healthpeak has voting and dispositive power over these securities.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Janus Living, Inc.
(b)
Address of issuer's principal executive offices:
4600 South Syracuse Street, Suite 500, Denver, CO 80237
Item 2.
(a)
Name of person filing:
Healthpeak Properties, Inc. and Janus Member, LLC
(b)
Address or principal business office or, if none, residence:
4600 South Syracuse Street, Suite 500, Denver, CO 80237
(c)
Citizenship:
MD (Healthpeak Properties, Inc.) and DE (Janus Member, LLC)
(d)
Title of class of securities:
Class A-1 Common Stock
(e)
CUSIP Number(s):
471024109
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
214,734,026 Represents 138,816,246 shares of Class A-1 Common Stock and 75,917,780 shares of Class A-2 Common Stock held by Janus Member, LLC, an indirect subsidiary of Healthpeak. The Class A-2 Common Stock represents the voting rights associated with the OP Units held by CCRC PropCo Ventures, LLC, an indirect subsidiary of Healthpeak, and the Class A-2 Common Stock are cancelled upon the redemption of the OP Units for cash, or shares of Class A-1 Common Stock, at the election of the Janus Living OP, LLC, on a one-for-one basis. Healthpeak controls the voting and disposition of these securities.
(b)
Percent of class:
81.6%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
214,734,026
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
214,734,026
(iv) Shared power to dispose or to direct the disposition of:
0
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
Not Applicable
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Healthpeak Properties, Inc.
Signature:
/s/ Carol Samaan
Name/Title:
SVP - Corporate Administration, Deputy General Counsel, and Corporate Secretary
Date:
05/14/2026
Janus Member, LLC
Signature:
/s/ Carol Samaan
Name/Title:
SVP - Corporate Administration, Deputy General Counsel, and Corporate Secretary
