A previously larger participant within the senior dwelling business has introduced the formation of a brand new actual property funding belief (REIT) centered on senior housing properties.
On Wednesday morning, Healthpeak Properties (NYSE: DOC) introduced the formation of Janus Residing, a REIT devoted to senior housing. The corporate is planning an preliminary public providing (IPO) for the brand new REIT, after which it should function its exterior supervisor and maintain “substantial majority curiosity” in it. Healthpeak expects to finish the IPO within the first half of 2026.
The Janus REIT is launching with a 34-community, 10,422-unit senior housing portfolio that Healthpeak has culled and cultivated through the years.
Healthpeak CEO and President Scott Brinker mentioned Healthpeak’s scale has made it “troublesome for the general public markets to acknowledge our senior housing platform’s capabilities and correctly worth the portfolio.”
“This IPO is meant to allow Healthpeak to unlock that worth, leverage our business experience, and extra successfully pursue our energetic pipeline of senior housing acquisition alternatives, together with roughly $675 million of investments already underneath signed letters of intent or buy agreements,” he mentioned in a press launch.
The transfer to show its collective eye again towards senior housing is important for Healthpeak, which together with Welltower (NYSE: WELL) and Ventas (NYSE: VTR) has lengthy shaped the “large three” of well being care REITs.
Within the aftermath of the Covid-19 pandemic, Healthpeak bought off considerably all of its triple-net and senior housing working (SHOP) portfolios. Nevertheless it by no means totally left the business, and within the following years, the REIT managed a portfolio of greater than a dozen persevering with care retirement communities (CCRCs.) In 2024, the corporate merged with Physicians Realty Belief and took on the DOC inventory ticker.
This can be a creating story that shall be up to date.