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self storage, real estate, capital, development, financial services, investment, REIT, NYSE
self storage, real estate, capital, development, financial services, investment, REIT, NYSE
self storage, real estate, capital, development, financial services, investment, REIT, NYSE

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

 

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

CubeSmart Alpharetta

CubeSmart Marietta

CubeSmart Austin

Hide-Away Riverview

CubeSmart Ocoee

CubeSmart Fleming Island

CubeSmart Charlotte

Life Milwaukee

CubeSmart North Haven

CubeSmart Miami 2

CubeSmart Miami

CubeSmart Pittsburgh

CubeSmart Raleigh

CubeSmart Fort Lauderdale

CubeSmart Washington, DC

CubeSmart Atlanta

CubeSmart Jacksonville

CubeSmart Red Bank

CubeSmart Johns Creek

CubeSmart Northglenn

CubeSmart Charlotte 2

CubeSmart Jacksonville 2

CubeSmart Columbia

CubeSmart Bay Shore

CubeSmart Raleigh 2

CubeSmart Atlanta 4

CubeSmart Smyrna

CubeSmart Metairie

CubeSmart Orlando

CubeSmart Atlanta 3

CubeSmart Houston

CubeSmart Fort Lauderdale

CubeSmart Louisville

CubeSmart Denver

CubeSmart Lakewood

CubeSmart Atlanta 2

CubeSmart Largo

CubeSmart Tampa

CubeSmart St Petersburg

CubeSmart Marlborough

CubeSmart Manhattan

CubeSmart Jacksonville 3

CubeSmart Orlando 2

CubeSmart Louisville 2

CubeSmart North Bergen

CubeSmart St. Paul

CubeSmart Salem

CubeSmart Watertown

CubeSmart Hackensack

CubeSmart Round Rock

CubeSmart Baltimore

CubeSmart Knoxville

CubeSmart Oakland Park

CubeSmart Miami 4

Extra Space Inglewood

CubeSmart Dover

CubeSmart Minneapolis