Extra Space Storage to invest $300m in Jernigan Capital.

Extra Space Storage, an owner and operator of self-storage properties, agreed to invest $300m in Jernigan Capital, a New York Stock Exchange-listed real estate investment trust. "Our $300m preferred equity investment in the acquisition of Jernigan Capital is another example of innovative capital investment in the storage sector, with attractive returns for our shareholders and an appropriate risk profile. We are excited to add 37 newly built, high-quality storage assets to our platform, and more importantly to begin new relationships with NexPoint and the JCAP management team. We look forward to exploring future opportunities to grow with these partners in the storage sector," Joe Margolis, Extra Space CEO.