The asset will be managed by self-storage real estate investment trust (REIT) CubeSmart
December 20, 2016
: Jernigan Capital Inc., a merchant bank and advisory firm serving the self-storage
industry, has developed a new storage facility in North Haven, CT., which opened on December 17.
According to a press release, the company holds a $6.9 million investment in the property and owns 49.9 percent interest. The multi-story facility has 649 units ranging from 25 to 300 square feet.
Jernigan Capital has been active on the investment front in recent weeks. The company invested $12.6 million in two Florida self-storage development projects in November, and co-invested with Hallmark Self Storage in October on a $9.2 million project in the downtown area of Columbia, S.C.
Jernigan Capital is a commercial real estate finance company that provides financing to private developers, operators and owners of self-storage facilities.
CubeSmart owns and operates 762 self-storage facilities across the United States. Its operating portfolio comprises 50.6 million square feet.