Jernigan Capital Inc., a merchant bank and advisory firm serving the self-storage industry, has named David Corak as senior vice president of corporate finance, effective March 8. Most recently a research analyst specializing in the self-storage sector, Corak will focus on capital strategies, according to a press release.
“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,” said Dean Jernigan, CEO and chairman of the board. “David will be a valuable addition to our strong finance group at JCAP.”
Prior to joining Jernigan, Corak was a senior analyst at B. Riley FBR Inc., where he covered the self-storage, single-family, student-housing and net-lease REIT sectors. He also covered self-storage as a senior associate with Stifel, Nicolaus & Co. Corak began his career as a banking analyst for PNC Financial Services Group Inc.
“The addition of David to the team serves as another step forward in the company’s prominent growth strategy,” said John Good, president and chief operating officer. “Over the past year, we have closed approximately $400 million of on-balance sheet investments and acquired from developers their 50.1 percent 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.”
Corak holds a bachelor’s degree from Georgetown University, where he double-majored in accounting and finance. He’s also a chartered financial analyst through the CFA Institute.
Jernigan Capital is a commercial real estate finance company that 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 intends to be taxed as a real estate investment trust and is externally managed by JCap Advisors LLC.