"The addition of Jonathan rounds out what we believe to be an outstanding management team," said Dean Jernigan, Chairman and Chief Executive Officer of JCAP. "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 JCAP to create value for our shareholders."

John Good, President and Chief Operating Officer of the Company, added: "I am delighted to welcome Jonathan as our Executive Vice President and Chief Investment Officer. 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. 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. Jonathan's ten 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. I look forward to partnering with Jonathan for many years of continuing to build JCAP into one of the great companies in our industry.

As Chief Investment Officer of JCAP, Mr. Perry will be responsible for overseeing all investment and asset management activities of the Company, including development of new relationships with self-storage entrepreneurs, origination of new investment opportunities, consummation of new investments and managing relationships with the Company's third-party managers. Mr. Perry will report to Mr. Good and will join Messrs. Jernigan and Good as the third member of the Company's investment committee.

Mr. Perry joins Jernigan Capital from CubeSmart, where he has held several positions since 2008, most recently as Senior Vice President and Chief Investment Officer. Mr. Perry began his career at Storage USA in February 1998, serving in a variety of roles until the company's sale in 2002 to GE Capital. After a period with GE Capital following the Storage USA acquisition, Mr. Perry partnered with Mr. Jernigan in a private investment partnership that owned and operated self-storage facilities.

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. 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, 2016, 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.