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 |
| Description: |
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.
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| Financial Center: | New York | Value: | 100.01-500.00 |
| Advised Party: | Acquiror | Law Firm | Latham & Watkins |
| Target Company Jurisdiction | United States | Acquiror Jurisdiction | United States |
| Classification: |
Financial Buyer Acquisitions Minority Investment |
Lawyer | Stelios G Saffos |
