Jernigan Capital, Inc. Announces Appointment of New Senior Vice President of Corporate Finance
- Company Hires David Corak To New Role -
Jernigan Capital, Inc. (the “Company”) (NYSE:JCAP) today announced the addition of David Corak as Senior Vice President, Corporate Finance, effective March 8, 2018.
Dean Jernigan, Chairman of the Board and Chief Executive Officer of the Company stated, “On behalf of the Board and the entire Company, we are excited to announce the appointment of David as Senior Vice President of Corporate Finance. David has been covering the self-storage industry as a sell-side research analyst for five years and has developed an outstanding reputation in the investment community for his work on our sector. David will be a valuable addition to our strong finance group at JCAP.”
“The addition of David to the team serves as another step forward in the Company’s prominent growth strategy,” added John Good, President and Chief Operating Officer of the Company. “Over the past year, we have closed approximately $400.0 million of on-balance sheet investments and acquired from developers their 50.1% interests in five newly developed facilities, while maintaining a strong investment pipeline. David has a deep knowledge of and unique perspective on JCAP’s opportunities to enhance shareholder value over the coming months and years. He will play a key role in developing and executing capital strategies to seize those opportunities as well as ensuring that our shareholders and the investing public remain well-informed of the opportunities an investment in JCAP presents.”
Mr. Corak has six years of experience as a sell-side research analyst covering the REIT sector. Most recently, Mr. Corak was a senior analyst at B. Riley FBR, Inc. where he covered the self-storage, student housing, single family and net lease REIT sectors. Prior to that, Mr. Corak was a senior associate at Stifel, Nicolaus & Company, where he also covered the self-storage sector. Mr. Corak started his career at PNC Financial as a banking analyst. Mr. Corak obtained a bachelor’s of science with a double major in Finance and Accounting from Georgetown University and is a CFA® charterholder.
About Jernigan Capital, Inc.
Jernigan Capital, Inc. is a New York Stock Exchange-listed real estate investment trust (NYSE:JCAP) that provides debt and equity capital to private developers, owners, and operators of self-storage facilities. Our mission is to be the preeminent capital partner for self-storage entrepreneurs nationwide by offering creative solutions through an experienced team demonstrating the highest levels of integrity, dedication, excellence and community, while maximizing shareholder value. The Jernigan Capital team has extensive experience in over 100 U.S. markets—from acquiring and managing self-storage properties to new self-storage development—providing JCAP with knowledge unmatched by any lender, broker or advisor to the sector. Jernigan Capital is the only source of construction and development capital focused solely on the self-storage sector.
This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. This includes statements relating to our full-year and first quarter 2018 guidance, our ability to successfully source, structure, negotiate and close investments in self-storage facilities, our ability to fund our outstanding future investment commitments, our ability to successfully implement our new bridge loan products and to own and manage our real estate assets, the availability, terms and our rate of deployment of equity capital and our ability to increase borrowing base of our credit facility. The ultimate occurrence of events and results referenced in these forward-looking statements is subject to known and unknown risks and uncertainties, many of which are beyond our control. These forward-looking statements are based upon the Company's present intentions and expectations, but the events and results referenced in these statements are not guaranteed to occur. Investors should not place undue reliance upon forward-looking statements. For a discussion of these and other risks facing our business, see the information under the heading “Risk Factors” in the Company‘s Annual Report on Form 10-K for the year ended December 31, 2017, and those set forth in the Company’s other reports and information filed with the Securities and Exchange Commission (“SEC”), which are accessible on the SEC’s website at www.sec.gov.