Jernigan Capital reported that it has closed a $16.1 million development investment in Bay Shore, New York. The project involves the conversion of an existing building into a 107,325 net rentable square feet, 1,191 unit multi-story facility that will provide all climate-controlled storage in a dense, high income area on Long Island, approximately 40 miles east of midtown Manhattan. The Company advanced approximately $6.9 million of its total $16.1 million commitment at closing.