Jernigan Capital closes $8.9M development investment in Raleigh, NC
Jernigan Capital announced that it has closed a $8.9M development investment in Raleigh, North Carolina. The investment was made through Storage Lenders I, LLC, the company's joint venture with Heitman Capital Management and an institutional partner. With this investment, the Heitman joint venture is fully committed. The 65,110 net rentable square feet, 756 unit multi-story facility will provide state-of-the-art, all climate-controlled storage in the rapidly growing Brier Creek community of Raleigh. Phillips Development and Realty, LLC, headquartered in Tampa, Florida, is the developer of the proposed project. This is the first self-storage development in which the company and Phillips Development have co-invested.