Jernigan Capital, Inc. Closes Development Investment in Orlando
August 30 2017 - 5:21PM
Business Wire
Jernigan Capital, Inc. (NYSE:JCAP) (the “Company”) announced
today that it has closed a $9.0 million investment in a proposed
multi-story climate-controlled 779-unit facility in Orlando,
Florida.
The proposed 77,125 net rentable square foot facility will be a
ground-up project located on 9001 Eastmar Commons Orlando, FL,
visible to 33,000 cars per day from highways 408 and 417 in a
rapidly growing area of the Orlando MSA. Within two miles of the
proposed facility are 1,000 new multi-family units and the
Waterford Lakes Town Center featuring several national restaurant
chains and retailers. Construction is expected to begin in January
2018 and be completed in the first quarter of 2019. Dean Road Self
Storage, headquartered in Orlando, Florida, and Cassaforte LLC are
the developers of the proposed project. This is the first
self-storage development project between the Company and these
developers.
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
1995. 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/20170830006263/en/
Jernigan Capital, Inc.Investor Relations,
901-567-9580Investorrelations@jernigancapital.com
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