Jernigan Capital, Inc. (NYSE: JCAP) (the "Company") today announced that it has commenced an underwritten public offering of $50,000,000 of shares of its common stock. The Company expects to grant the underwriters a 30-day option to purchase up to an additional $7,500,000 of shares of common stock. The Company intends to use the net proceeds from the offering to fund its development portfolio and for general corporate purposes. Raymond James & Associates, Inc. and Jefferies LLC are acting as joint book-running managers for the offering and Robert W. Baird & Co. Incorporated and FBR & Co. are acting as co-managers. This offering may only be made by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement and accompanying prospectus related to the offering may be obtained, when available, by visiting EDGAR on the Securities and Exchange Commission's (the "SEC") website at www.sec.gov or from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, FL 33716, telephone: (800) 248-8863, email: firstname.lastname@example.org; and Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, telephone: (877) 821-7388, email: Prospectus_Department@Jefferies.com. The offering is being made pursuant to a shelf registration statement on Form S-3 that was declared effective by the SEC on June 24, 2016. A prospectus supplement relating to the offering will be filed with the SEC. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. 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. The Company's 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. The Company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.