Bridge Capital


Jernigan Capital is a boutique self-storage REIT that primarily invests alongside professional developers in new self-storage properties.  Understanding the needs of self-storage entrepreneurs is what Jernigan Capital does best.  We are not only a capital partner but also a trusted provider of industry know-how accumulated during more than 35 years in the self-storage industry.

Our bridge financing provides professional developers with capital to refinance upcoming construction loan maturities and provide distributions to equity partners prior to stabilization of their self-storage projects.  Jernigan Capital will consider providing bridge capital for projects that were constructed and opened for business within the past [4] years and are in one of the top 50 US metropolitan statistical areas (MSAs).


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Business Development Team


Billy Perry  |  901.567.9523  |

Jack Connell  |  901.567.9490  |

Warner Russell  |  901.567.9536  |

Karina Benziger  |  901.567.9578  |

INVESTMENT AMOUNT $7,500,000 and up
INVESTMENT TERM Minimum 5 years, accelerated upon sale of project
INVESTMENT % Negotiable based on stage of lease-up, but generally minimum of 75% loan to value
INVESTMENT STRUCTURE First mortgage, payable interest-only at 6.9% per annum – JCAP will consider accruing interest during lease-up

Equity participation to JCAP in appropriate cases involving lease-up risk

Owner grants JCAP Right of First Refusal (ROFR)

Professional management required (generally by publicly traded self-storage REIT)

AMORTIZATION Interest only – no required principal payments before maturity
PREPAYMENT FEE 2-1-0 after 2-year lockout
DUE DILIGENCE DEPOSIT Paid by borrower (including legal, appraisal, environmental)
RECOURSE Non-recourse subject to customary “bad boy” and environmental carve-outs
COVENANTS Debt service coverage

Customary affirmative covenants

Customary negative covenants

UNDERWRITING SCHEDULE 15 days to term sheet on initial loan; 45 days max term sheet to closing; streamlined investment committee process