Jernigan Capital Inc., a merchant bank and advisory firm serving the self-storage industry, has hired Jonathan Perry as executive vice president and chief investment officer (CIO). Perry will join the executive team next month and oversee all investment and asset-management activities including the development of new relationships with self-storage entrepreneurs, origination of investment opportunities and managing relationships with third-party managers, according to a press release.
Perry joins the company from CubeSmart, a self-storage real estate investment trust (REIT) and third-party management firm. From 2008, he held several positions at CubeSmart, most recently serving as senior vice president and CIO. Perry began his career at Storage USA in 1998 and served in multiple capacities until the company was acquired by GE Capital in 2002. He previously teamed with Dean Jernigan, chairman and CEO of Jernigan Capital, in a private investment partnership that owned and operated self-storage facilities, the release stated.
“The addition of Jonathan rounds out what we believe to be an outstanding management team,” Jernigan said. “I have had the pleasure of working with Jonathan for over 20 years and have found him to be one of the most talented executives in the self-storage sector. As we continue to provide innovative capital solutions to self-storage entrepreneurs, while we move into different stages of the real estate cycle, I am confident that Jonathan’s experience, relationships and prominence in the self-storage industry will create additional opportunities for us to create value for our shareholders.”
Perry will report directly to John Good, president and chief operating officer. He’ll also join Good and Jernigan to form a three-member investment committee.
“Dean, our board of directors and I all believe that as the real estate cycle progresses and we move into a period of more customized and innovative investment opportunities, including a period of increased acquisitions of developer interests in our properties and other potential growth initiatives, Jonathan is the perfect addition to our already strong team,” Good said. “Jonathan has led billions of dollars of self-storage investments over the course of his 20-year career, and that investment experience will be invaluable to us as he leads our investment efforts.”
Jernigan Capital also expects Perry’s presence to help in fostering a greater partnership with CubeSmart. “Jonathan’s 10 years of distinguished service with CubeSmart also provides a seamless bridge to his overseeing our asset-management function, as we would expect to continue to expand our extensive third-party management relationship with CubeSmart as we continue to grow,” Good added. “I look forward to partnering with Jonathan for many years of continuing to build Jernigan Capital into one of the great companies in our industry.”
In March, Jernigan Capital hired David Corak as senior vice president of corporate finance to focus on capital strategies.
Jernigan Capital is a REIT listed on the New York Stock Exchange. The company provides financing to private developers, operators and owners of self-storage facilities. It offers financing for acquisition, ground-up construction, major redevelopment or refinancing. The firm is externally managed by JCap Advisors LLC.