Jernigan Capital, Inc. Announces New Investment in Atlanta MSA
January 31 2017 - 5:14PM
Business Wire
~Adds New Developer Relationship and
Strengthens Presence in Growing Market~
Jernigan Capital, Inc. (NYSE:JCAP) (the “Company”) announced
today that it has closed a $13.6 million self-storage development
investment in Vinings, Georgia. Construction is expected to
commence in the second quarter, with completion of the project
expected in the second quarter 2018. Mequity, LLC, headquartered in
Atlanta, is the developer of the proposed project. This is the
first self-storage development in which the Company and Mequity
have co-invested.
The project involves conversion of an existing building and
construction of an additional connected building, providing an
integrated multi-story state-of-the-art, all climate-controlled
facility. The proposed 103,561 net rentable square foot, 1,118 unit
facility is conveniently located just off an exit to the
heavily-travelled I-285 loop around Atlanta. This facility will
serve the Vinings/Smyrna area, a rapidly growing suburb northwest
of Atlanta that is home to the Atlanta Braves’ new baseball
stadium.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170131006421/en/
Jernigan Capital, Inc.John A. Good, 901-567-9517
Jernigan Capital (NYSE:JCAP)
Historical Stock Chart
From Mar 2024 to Apr 2024
Jernigan Capital (NYSE:JCAP)
Historical Stock Chart
From Apr 2023 to Apr 2024