Development 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 over 35 years in the self-storage industry. Our 90% non-recourse, development financing is 100% one-of-a-kind.

 

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Call Us:

901.567.9510

 

 

Business Development Team

 

Billy Perry  |  901.567.9523  |  billy@jernigancapital.com

Jack Connell  |  901.567.9490  |  jack@jernigancapital.com

Warner Russell  |  901.567.9536  |  warner@jernigancapital.com

Karina Benziger  |  901.567.9578  |  karina@jernigancapital.com

INVESTMENT AMOUNT $5,000,000 and up
INVESTMENT TERM Generally 6 Years
INVESTMENT % 90% Investment to Cost on a development property
INVESTMENT STRUCTURE First mortgage, payable interest-only at 6.9% per annum

JCAP also receives 49.9% interest in operating cash flows and cash flows from sale/refinancing after developer recovers equity plus 6.9% preferred equity return

Developer 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
ORIGINATION FEE Generally 1%
PREPAYMENT FEE 3-2-1-0 after 3 year lockout
DUE DILIGENCE DEPOSIT $20,000 payable upon issuance of Term Sheet
RECOURSE Completion guarantee only. Non-recourse after CO with customary carve-outs
INTEREST RATE 6.9% Fixed

JCAP Developments