Jernigan Capital buys out partners in three facilities

|About: Jernigan Capital (JCAP)|By:, SA News Editor

Jernigan Capital (NYSE:JCAP) has taken 100% ownership in three self-storage facilities, two in the Atlanta area and one in the Jacksonville, Fla., area.

The company bought out developer partners for the facilities in Fleming Island, Fla; Alpharetta, Ga.; and Marietta, Ga., for an aggregate $8.1M.

Jernigan now has 100% of four of its initial 10 on-balance sheet development investments.

It estimates its weighted average cap rate on the three properties at 8.04%.

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