Jernigan Capital, Inc. Announces New Investment in Denver MSA
August 29 2016 - 4:26PM
Business Wire
Jernigan Capital, Inc. (NYSE: JCAP) (the “Company”) announced
today that on August 25, 2016, the Company closed an $11 million
development investment in Northglenn, CO, a submarket in the Denver
MSA. This multi-story 879 unit facility with 86,657 net rentable
square feet will provide state-of-the-art, all climate-controlled
storage to a high-income underserved area of suburban Denver. The
investment was made through Storage Lenders I, LLC, the Company’s
$122.2 million joint venture with Heitman Capital Management and an
institutional partner (the “Heitman joint venture”). After the
Northglenn investment, the Heitman joint venture has committed
$105.2 million of its available capital, leaving $17.0 million of
available capital.
About Jernigan Capital, Inc.
Jernigan Capital, Inc. is a New York Stock Exchange-listed real
estate investment trust (NYSE: JCAP) that provides debt and equity
capital to private developers, owners, and operators of
self-storage facilities. Our mission is to be the preeminent
capital partner for self-storage entrepreneurs nationwide by
offering creative solutions through an experienced team
demonstrating the highest levels of integrity, dedication,
excellence and community, while maximizing shareholder value. The
Jernigan Capital team has extensive experience in over 100 U.S.
markets—from acquiring and managing self-storage properties to new
self-storage development—providing JCAP with knowledge unmatched by
any lender, broker or advisor to the sector. Jernigan Capital is
the only source of construction and development capital focused
solely on the self-storage sector.
Forward-Looking Statements
This press release includes "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of. The
ultimate occurrence of events and results referenced in these
forward-looking statements is subject to known and unknown risks
and uncertainties, many of which are beyond our control. These
forward-looking statements are based upon the Company's present
intentions and expectations, but the events and results referenced
in these statements are not guaranteed to occur. Investors should
not place undue reliance upon forward-looking statements. For a
discussion of these and other risks facing our business, see the
information under the heading “Risk Factors” in our Annual Report
on Form 10-K filed with the Securities and Exchange Commission
(“SEC”) and our other filings with the SEC from time to time, which
are accessible on the SEC’s website at www.sec.gov.
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version on businesswire.com: http://www.businesswire.com/news/home/20160829005971/en/
Jernigan Capital, Inc.John A. Good, 901-567-9517
Jernigan Capital (NYSE:JCAP)
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