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Practice Areas - Corporate and M&A Law Firms and Lawyers

Deal Date: 10-11-2020 Practice Area: Corporate and M&A
Deal Title: Extra Space Storage Preferred Stock Investment in Jernigan Capital Industry: Support Services
Extra Space Storage Inc., a leading owner and operator of self-storage properties, announced it made a USD300 million investment in preferred stock of Jernigan Capital, Inc. in connection with the acquisition of JCAP by affiliates of NexPoint Advisors, L.P. Extra Space's preferred stock investment consisted of a USD200 million tranche, which would yield 10% per annum and a USD100 million tranche which will yield 12% per annum, for a blended yield of 10.7% per annum. Latham and Watkins LLP represented Extra Space Storage.
Financial Center: New York Value: 100.01-500.00
Advised Party: Acquiror Law Firm
Target Company Jurisdiction United States Acquiror Jurisdiction United States
Classification: Financial Buyer Acquisitions Minority Investment
Lawyer Stelios G Saffos