NexPoint Advisors to acquire Jernigan Capital

An affiliate of NexPoint Advisors has announced the acquisition of Jernigan Capital (JCAP), an owner of self-storage facilities, for $900 million.

“Since our initial public offering in March of 2015, we have built from the ground up a best in class portfolio of newly constructed Generation V self-storage facilities in some of the best submarkets in the United States, along with a development platform that is the first of its kind in our sector,” said John Good, JCAP’s CEO and chairman. “We believe this transaction with NexPoint validates the quality of the portfolio of self-storage properties and the corporate platform we have built, and accomplishes the goal of maximizing value for our stockholders during a very difficult time for all of us. We are certain today’s announcement is in the best interests of all of JCAP’s stakeholders.”

The transaction is currently expected to close in fourth quarter 2020.