Janus Living Inc (JAN) is a senior housing real estate company that owns and operates a portfolio of senior housing communities. Revenue is generated primarily through resident fees and services, a transactional model tied to occupancy levels and monthly per-unit rates charged directly to residents. Janus Living completed its IPO in early 2026 and is externally managed by Healthpeak Investment Management, LLC under a management agreement dated March 19, 2026. The total property portfolio consisted of 40 properties as of March 31, 2026, up from 34 properties as of March 31, 2025. For the three months ended March 31, 2026, total resident fees and services were $200.3 million across the full portfolio, with average occupancy of 86.1% and average occupied units of 8,802. The same-store portfolio of 15 properties generated resident fees and services of $160.3 million for the three months ended March 31, 2026, with average occupancy of 88.5%. President and CEO Scott M. Brinker and CFO Kelvin O. Moses signed the 10-Q filed May 6, 2026.

Revenue model

Resident fees and services charged to occupants of senior housing communities. Revenue scales with occupancy rate and revenue per occupied room (RevPOR), which was $8,544 per month for the same-store portfolio and $7,610 per month for the total portfolio for the three months ended March 31, 2026. Non-refundable entrance fees represent a secondary revenue stream, with sales in excess of GAAP amortization of $7.8 million for Q1 2026.

Products and services

Senior housing communities offering residential care and services to residents. The portfolio totaled 40 properties as of March 31, 2026. Six communities were acquired during the three months ended March 31, 2026. The company also completed a joint venture buyout (JV Buyout) in January 2026, consolidating previously unconsolidated senior housing assets.

Customers and end markets

Individual residents of senior housing communities. End market is senior care and housing. Average occupied units were 8,802 across the total portfolio for the three months ended March 31, 2026.

Value-chain role

Owner and operator of senior housing real estate. Externally managed by Healthpeak Investment Management, LLC. Acquires properties as asset acquisitions, allocating consideration to buildings, land, and in-place resident contract intangibles. Holds a $500 million Revolving Credit Facility and repaid mortgage debt in full in January 2026.

Geographic exposure

Geographic footprint not specified in the filing excerpts.

Source: SEC 10-Q, filed 2026-05-06

Industry: Real Estate Investment Trusts