Janus Living raises 840 million dollars in upsized IPO
The senior housing REIT priced 42 million shares at 20 dollars each to raise 840 million dollars. The company begins trading on the NYSE this Friday as JAN.
The senior housing real estate investment trust Janus Living has raised $840 million in its upsized initial public offering in the United States. The company priced its shares at $20 each, reaching the upper end of its marketed range of $18 to $20. Due to strong investor interest, the offering was expanded to 42 million shares from the 37 million shares originally planned.
Headquartered in Denver, Colorado, Janus Living was established as a spin-off from the healthcare REIT Healthpeak Properties. The firm currently operates 34 senior living communities across 10 states, with a heavy concentration in Florida and Texas. These two states combined represent approximately 69% of the company's total portfolio. The growth prospects for the company are supported by shifting demographics in the United States, where an aging population is increasingly planning for long-term care needs.
