An affiliate of Healthpeak Properties acquired two senior living communities in Cobb County for $240 million, according to a March 27 announcement. The purchase includes Sterling Estates properties located at 3171 Dallas Highway in West Cobb and 4220 Lower Roswell Road in East Cobb, and marks one of the first major acquisitions by Janus Living, a newly launched real estate investment trust focused on senior housing.
The acquisition is part of a broader five-property transaction that also includes three properties in the Orlando area. These assets will become part of Janus Living’s initial portfolio. The Atlanta Business Chronicle reported that Janus Living made its debut this week after raising $878 million through an initial public offering, bringing together 34 communities with about 10,400 units.
Healthpeak Properties created Janus Living as a standalone company to focus on the growing demand for senior housing. Company executives say they are targeting Sun Belt markets such as Atlanta, Houston, and Orlando due to projected increases in the population over age 80 between 2024 and 2029.
The Sterling Estates communities feature newer construction and large campuses. They have maintained occupancy rates above 90 percent in recent years because of their amenities and emphasis on wellness. Affiliates led by Nathan Madigan previously owned and operated these properties for several years.
Following its IPO, Healthpeak remains the majority owner of Janus Living. The new real estate investment trust was valued at nearly $6 billion at launch.
