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NexPoint Will Buy Storage REIT Jernigan Capital

An affiliate of Dallas-based NexPoint Advisors is acquiring self-storage REIT Jernigan Capital for approximately $900 million in cash. The deal is expected to close in the fourth quarter, subject to customary closing conditions.

“NexPoint has long admired and supported Jernigan Capital’s unique self-storage business model and platform,” said Jim Dondero, NexPoint’s founder and president. “We plan to build on this vision as a private company, maintaining unparalleled asset quality and continuing the current growth trajectory.

“With our combined expertise, scale and financial strength, we are well positioned to execute this vision and further expand the company’s national footprint,” Dondero added.

Jefferies LLC is serving as exclusive financial advisor, and King & Spalding is serving as legal advisors to Memphis-based Jernigan Capital. Raymond James and KeyBanc Capital Markets are serving as financial advisors, and Winston & Strawn LLP is serving as legal advisors to NexPoint.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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