The former CEO of a self-storage company sold a waterfront home on the Venetian Islands for $18.4 million.
Records show 1325 NV Way LLC sold the four-bedroom, five-and-a-half-bathroom home at 1325 North Venetian Way to The 1325 Venetian Land Trust Agreement, with Miami Beach real estate attorney Eric A. Jacobs as a trustee.
The seller is controlled by Oswell Dean Jernigan, the founder and former CEO of Memphis-based Jernigan Capital. Jernigan founded the company in 2014 and retired at the end of 2020. Investment management firm NexPoint Advisors acquired Jernigan Capital for $900 million last year, according to a press release about the acquisition.
Jernigan and his wife, Kristi, purchased the Miami Beach property for $3.5 million in 2013 and transferred ownership to an LLC in 2020, records show.
The Jernigans demolished the house and completed a new home in 2017.
The 7,029-square-foot house was listed in early 2020 for $18.9 million.
Julian Johnston of the Corcoran Group represented the seller, and Oren Alexander of Douglas Elliman represented the buyer.
Recently on the Venetian Islands, a Turkish aquaculture magnate sold his home for $6.3 million, Miami Beach broker Dora Puig bought a home next to hers for $9 million and a senior vice president at Morgan Stanley Wealth Management sold a house for $13.5 million.