Senior Housing REIT Janus Living Targets $740 Million IPO
The Denver-based senior housing REIT is offering 37 million shares priced between $18 and $20. The firm plans to list on the New York Stock Exchange as JAN.
Janus Living, a real estate investment trust specializing in senior housing, is aiming to raise as much as $740 million in its initial public offering in the United States. The Denver-based firm announced on Monday that it is offering 37 million shares at a price range of $18 to $20 each. The company plans to list its shares on the New York Stock Exchange under the ticker symbol JAN. The REIT is being spun off from Healthpeak Properties, Inc., a major healthcare real estate investment trust. This IPO comes at a time when market activity in the country has slowed significantly. Ongoing market turbulence, driven largely by the conflict in the Middle East, has kept many potential corporate issuers on the sidelines and contributed to investor uncertainty. BofA Securities and J.P. Morgan are serving as the lead book-running managers for the offering. Janus Living's entry into the public market marks a significant move for the senior housing sector despite the broader economic headwinds.
