Press Release

Jernigan Capital, Inc. Announces Taxable Composition of 2015 Distributions

January 25, 2016 4:44 PM EST

Jernigan Capital, Inc. (the “Company”) (NYSE: JCAP) announced today the taxable composition of its 2015 distributions paid to shareholders on its common stock. The amount of distribution referred to as return of capital is considered by the Internal Revenue Service to be a return of invested capital and is not currently taxable. This amount should be applied to reduce the shareholders' tax cost basis of the related shares. The composition presented is applicable to all dividend distributions during 2015. The classifications for 2015 are as follows:

COMMON STOCK (CUSIP NO. 476405105)

Record
Dates

 

Payable
Dates

 

Cash
Distributions
Per Share

 

Ordinary
Taxable
Distribution

 

Long-Term
Capital
Gains

 

Unrecaptured
Sec. 1250 Gain

 

Return of
Capital

7/6/2015   7/15/2015   $0.35   0.00%   0.00%   0.00%   100.00%
10/1/2015   10/15/2015   $0.35   0.00%   0.00%   0.00%   100.00%

The fourth quarter 2015 distribution made to shareholders of record as of January 1, 2016 is considered a 2016 distribution for federal income tax purposes.

This release is based on the preliminary work the Company has performed on its filings and is subject to correction or adjustment based on the completion of those filings. The Company is releasing information at this time to aid those required to distribute 1099s on the Company’s dividends. No material change in the taxable composition is expected. Shareholders are encouraged to consult with their own tax advisors as to their specific tax treatment of the Company’s distributions.

About Jernigan Capital, Inc.

Jernigan Capital is a preferred capital source for self-storage entrepreneurs, providing debt and equity capital to private developers, owners and operators of self-storage facilities. Through its national network of contacts developed by its business development team led by Dean Jernigan, a 30-year industry veteran, Jernigan Capital originates self-storage capital solutions for the ground-up construction of self-storage facilities or major self-storage redevelopment opportunities, as well as for the acquisition of, refinancing of existing indebtedness on, or recapitalization of existing self-storage facilities. Jernigan Capital intends to elect to be taxed as a real estate investment trust and is externally managed by JCap Advisors, LLC.

Certain matters in this press release may constitute forward-looking statements within the meaning of Section 27-A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. Such statements include those made about the expectation that the Company will have no material change in taxable composition of its 2015 distributions. The expectation is based on preliminary work the Company has performed on its year end filings and on information currently available. Unknown risks, uncertainties and other factors may cause actual results, performance or achievements of the company to differ materially from those on which these calculations were based. Reference is hereby made to the filings of Jernigan Capital, Inc. with the Securities and Exchange Commission, including quarterly reports on Form 10-Q, reports on Form 8-K, and the prospectus related to the Company’s IPO, particularly including the risk factors contained in the latter filing.

 

Contacts

Jernigan Capital, Inc.
John A. Good, 901-567-9517