Jernigan Capital has filed to foreclose on an $18 Million facility in Miami being developed by Storage Partners of Miami. From :

Jernigan Capital files to foreclose on $18 million facility in Miami

Jernigan extended a $17.73 million construction loan to Storage Partners of Miami I in 2015, the newspaper reported.

According to the lawsuit, the borrower defaulted by:

Failing to repay the loan by the June 30, 2018, maturity date as a result of not wrapping up construction before then.
Allowing construction liens on the project to remain outstanding for more than 30 days. The full $17.73 million in principal, plus interest, remains unpaid, the lawsuit claims.

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