Former self-storage CEO sells Venetian Islands home for $18M

Seller’s Jernigan Capital sold for $900M last year

O. Dean Jernigan and 1325 North Venetian Way, Miami Beach (Google Maps)
O. Dean Jernigan and 1325 North Venetian Way, Miami Beach (Google Maps)

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.

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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.

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