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August 4, 2020 Comments Off on NexPoint Will Buy Storage REIT Jernigan Capital Views: 784 Dallas-Fort Worth, Texas News

NexPoint Will Buy Storage REIT Jernigan Capital

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An affiliate of Dallas-based NexPoint Advisors is acquiring self-storage REIT Jernigan Capital for approximately $900 million in cash. The deal is expected to close in the fourth quarter, subject to customary closing conditions.

“NexPoint has long admired and supported Jernigan Capital’s unique self-storage business model and platform,” said Jim Dondero, NexPoint’s founder and president. “We plan to build on this vision as a private company, maintaining unparalleled asset quality and continuing the current growth trajectory.

“With our combined expertise, scale and financial strength, we are well positioned to execute this vision and further expand the company’s national footprint,” Dondero added.

Jefferies LLC is serving as exclusive financial advisor, and King & Spalding is serving as legal advisors to Memphis-based Jernigan Capital. Raymond James and KeyBanc Capital Markets are serving as financial advisors, and Winston & Strawn LLP is serving as legal advisors to NexPoint.

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