Development Capital

 

Jernigan Capital is a valued capital partner to developers pursuing ground-up self-storage development, conversion of existing facilities to self-storage usage and major re-development projects. Always seeking to add value to our development partners, we combine the benefits of 30 years of self-storage development, acquisition, disposition and operating experience with a 90% project-level investment to insure the success of the development project.

 

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901.567.9510
INVESTMENT AMOUNT $2,000,000 and up
INVESTMENT TERM Generally 6 Years
INVESTMENT STRUCTURE 80% LTC first mortgage, 10% LTC mezzanine loan and 49.9% interest in operating profits and gain on sale
INVESTMENT % Up to 90% Investment to Cost on a development property
AMORTIZATION Interest only
ORIGINATION FEE Generally 1%
PREPAYMENT FEE 3-2-1-0 after 3 year lockout
DUE DILIGENCE DEPOSIT $20,000
RECOURSE Completion guarantee only. Non-recourse after CO with customary carve-outs
INTEREST RATE 6.9%