logo
logo

Extra Space Storage Inc. Makes $300 Million Preferred Equity Investment in Jernigan Capital, Inc.

Nov 09, 2020•almost 5 years ago

Amount Raised

$300 Million

Salt Lake CityReal Estate

Description

Extra Space Storage Inc. ("Extra Space" or the "Company") (NYSE: EXR), a leading owner and operator of self-storage properties, announced today it made a $300 million investment in preferred stock of Jernigan Capital, Inc. ("JCAP") in connection with the acquisition of JCAP by affiliates of NexPoint Advisors, L.P. The previously announced acquisition was approved by JCAP stockholders on October 26, 2020, and closed on Friday, November 6, 2020.

Company Information

Company

Extra Space Storage

Location

Salt Lake City, Utah, United States

About

Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a fully integrated, self-administered and self-managed real estate investment trust, and a member of the S&P 500. As of March 31, 2025, the Company owned and/or operated 4,099 self-storage properties, which comprise approximately 2.8 million units and approximately 315.0 million square feet of rentable storage space operating under the Extra Space brand. The Company offers customers a wide selection of conveniently located and secure storage units across the country, including boat storage, RV storage and business storage. It is the largest operator of self-storage properties in the United States.

Related People

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech