COVID-19 drives private takeover of Memphis self-storage company
Jernigan Capital was a publicly traded Memphis company on a path to grow in the self-storage industry before COVID-19. The pandemic slammed the stock and helped take it private.
There are 5 article(s) tagged Jernigan Capital:
Jernigan Capital was a publicly traded Memphis company on a path to grow in the self-storage industry before COVID-19. The pandemic slammed the stock and helped take it private.
Extra Space Storage bought $300 million of Jernigan Capital preferred shares, gaining control of 37 properties as Jernigan was bought by private equity firm NexPoint Advisors.
Dean Jernigan founded Storage USA in Memphis in 1984 before selling it and now will become a consultant for his latest self-storage company that bears his name.
Memphis-based, publicly traded Jernigan Capital has invested about $200 million in self-storage projects around the country this year and is in the early stage of a shift into acquisition and ownership of facilities it financed.
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