Janus Living

Janus Living, Inc. is a specialized real estate investment trust (REIT) that focuses exclusively on owning and operating senior housing communities across the United States. Formed as a spin-off from Healthpeak Properties, Inc., the company operates as a pure-play senior housing REIT. Its business model is distinctive in that its entire portfolio is owned and operated under the REIT Investment Diversification and Empowerment Act (RIDEA) structure. This means that the services provided by the operators are primarily paid for directly by the residents (private pay) rather than relying on governmental reimbursement programs like Medicare or Medicaid, giving the company direct exposure to occupancy gains, margin improvements, and operating cash flows. Janus Living's initial portfolio comprises 34 senior housing communities totaling over 10,400 units, strategically located in major retirement markets across 10 states. The geographic footprint is highly concentrated in states experiencing significant demographic tailwinds from retiring populations, with Florida and Texas accounting for approximately 69% of its total units. The properties include Life Plan communities and various senior housing options offering independent living, assisted living, memory care, and skilled nursing services. While Janus Living is externally managed by Healthpeak Investment Management, LLC, it maintains its own dedicated leadership team to execute its growth and acquisition strategies in the senior living sector, positioning itself to capitalize on the growing demand for senior housing.