{"id":1004468725,"date":"2020-08-04T03:52:58","date_gmt":"2020-08-04T11:52:58","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004468725"},"modified":"2025-02-27T01:01:01","modified_gmt":"2025-02-27T09:01:01","slug":"nexpoint-advisors-announces-900m-merger","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/","title":{"rendered":"NexPoint Advisors Announces $900M Merger"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay<\/i><\/p><\/div>\n

Under the terms of a merger agreement, an affiliate of NexPoint Advisors LP will acquire Jernigan Capital Inc., a Memphis-based self storage owner and lender<\/a>, for approximately $900 million in cash. The transaction includes debt and preferred stock to be assumed or refinanced.<\/p>\n

\n

READ ALSO<\/strong>: Colony Capital\u2019s Barrack to Step Back After $325M Merger<\/a><\/p>\n

\n

Upon closing, holders of Jernigan\u2019s common stock and holders of units in Jernigan Capital Operating Co. LLC will receive $17.30 per share\/unit in cash. This represents a 30 percent premium over the 90-day volume-weighted average share price ending July 31. The transaction is expected to close in the fourth quarter and is subject to customary closing conditions, including the approval of Jernigan stockholders.<\/p>\n

In a prepared statement, Jernigan CEO & Chairman John Good highlighted the portfolio the company has built since its initial public offering in March 2015.<\/p>\n

Jernigan Capital\u2019s financial advisor is Jefferies LLC, and its legal advisors are Spencer Johnson and Tony Rothermel, partners at King & Spalding, along with and John Anderson, senior associate. NexPoint\u2019s financial advisors are Raymond James and KeyBanc Capital Markets, and its legal advisor is Winston & Strawn LLP.<\/p>\n

Selective acquisitions<\/h2>\n

Jernigan prefers to focus on what it calls Generation V facilities, which are largely vertical (three to 10 floors), 100 percent climate-controlled and \u201ctechnologically adapted buildings<\/em>.\u201d<\/p>\n

According to Jernigan\u2019s 2019 annual report, the company has 15 wholly owned self storage facilities, as well as multiple development property investments, plus six development property investments and five wholly owned self storage facilities, all 11 in connection with the SL1 venture, which Jernigan formed in 2016 with Heitman Capital.<\/p>\n

Those numbers reflect multiple acquisitions over the last few years. For example, last September Jernigan bought a five-property portfolio<\/a> of self storage properties from MCSS Development and Investment. The assets, all in metro Miami and all operated under the CubeSmart brand, total 4,141 units and 480,000 gross square feet.<\/p>\n

More recently, Jernigan tightened up its financial situation, securing a new credit facility<\/a> that added $140 million to the company\u2019s borrowing capacity, extended the maturity of the previous facility by more than a year and trimmed credit spreads in the process, too.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company has agreed to acquire self storage owner and investor Jernigan Capital in an all-cash transaction.<\/p>\n","protected":false},"author":882,"featured_media":1004344082,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,23891,21742],"tags":[37950,33293,34688,35680,49942],"class_list":["post-1004468725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-national","category-latest","tag-heitman-capital-management","tag-jernigan-capital","tag-john-good","tag-king-spalding","tag-raymond-james-financial-inc"],"acf":[],"yoast_head":"\nNexPoint Advisors Announces $900M Merger - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NexPoint Advisors Announces $900M Merger\" \/>\n<meta property=\"og:description\" content=\"The company has agreed to acquire self storage owner and investor Jernigan Capital in an all-cash transaction.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-04T11:52:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T09:01:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/self-storage-news-c.-Image-via-Pixabay.com_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/\"},\"author\":{\"name\":\"Scott Baltic\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"headline\":\"NexPoint Advisors Announces $900M Merger\",\"datePublished\":\"2020-08-04T11:52:58+00:00\",\"dateModified\":\"2025-02-27T09:01:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/\"},\"wordCount\":368,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/08\\\/self-storage-news-c.-Image-via-Pixabay.com_.jpg\",\"keywords\":[\"Heitman Capital Management\",\"Jernigan Capital\",\"John Good\",\"King & Spalding\",\"Raymond James Financial Inc.\"],\"articleSection\":[\"Deals\",\"Featured\",\"Investment\",\"National\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/\",\"name\":\"NexPoint Advisors Announces $900M Merger - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/08\\\/self-storage-news-c.-Image-via-Pixabay.com_.jpg\",\"datePublished\":\"2020-08-04T11:52:58+00:00\",\"dateModified\":\"2025-02-27T09:01:01+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/08\\\/self-storage-news-c.-Image-via-Pixabay.com_.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2019\\\/08\\\/self-storage-news-c.-Image-via-Pixabay.com_.jpg\",\"width\":800,\"height\":620,\"caption\":\"Image via Pixabay\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/nexpoint-advisors-announces-900m-merger\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"NexPoint Advisors Announces $900M Merger\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2022\\\/06\\\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/scott-baltic\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"NexPoint Advisors Announces $900M Merger - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/","og_locale":"en_US","og_type":"article","og_title":"NexPoint Advisors Announces $900M Merger","og_description":"The company has agreed to acquire self storage owner and investor Jernigan Capital in an all-cash transaction.","og_url":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-08-04T11:52:58+00:00","article_modified_time":"2025-02-27T09:01:01+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/self-storage-news-c.-Image-via-Pixabay.com_.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/"},"author":{"name":"Scott Baltic","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"headline":"NexPoint Advisors Announces $900M Merger","datePublished":"2020-08-04T11:52:58+00:00","dateModified":"2025-02-27T09:01:01+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/"},"wordCount":368,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/self-storage-news-c.-Image-via-Pixabay.com_.jpg","keywords":["Heitman Capital Management","Jernigan Capital","John Good","King & Spalding","Raymond James Financial Inc."],"articleSection":["Deals","Featured","Investment","National","News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/","url":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/","name":"NexPoint Advisors Announces $900M Merger - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/self-storage-news-c.-Image-via-Pixabay.com_.jpg","datePublished":"2020-08-04T11:52:58+00:00","dateModified":"2025-02-27T09:01:01+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/self-storage-news-c.-Image-via-Pixabay.com_.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/self-storage-news-c.-Image-via-Pixabay.com_.jpg","width":800,"height":620,"caption":"Image via Pixabay"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/nexpoint-advisors-announces-900m-merger\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"NexPoint Advisors Announces $900M Merger"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2019\/08\/self-storage-news-c.-Image-via-Pixabay.com_.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004468725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004468725"}],"version-history":[{"count":1,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004468725\/revisions"}],"predecessor-version":[{"id":1004468767,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004468725\/revisions\/1004468767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004344082"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004468725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004468725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004468725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}