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Equity Based Services, Inc. Acquire Two Houston Area Properties

San Diego, CA (PRWEB) August 1, 2008 -- Today, Equity Based Services (http://www.ebscorp.com), Inc ("EBS") announced that they have purchased two self-storage facilities in the Houston area, Gladstell Self Storage Center at 810 Gladstell Road, Conroe, TX (39 miles north of downtown Houston) and the West 34th Street Self Storage Center on 34th Street in Houston. These properties add an additional 1082 units of both climate controlled and non-climate controlled storage units and 74 RV parking spaces to the EBS portfolio of 55 Self Storage facilities that span 10 states.

Equity for the purchases of EBS portfolio properties comes from EBS's closed Private Equity Funds, their nearly 400 private client cash investors, and "IRS rule 1031 Exchange" Investors.

These two properties were financed, with very favorable terms from a large European Bank facilitated by Tavernier Capital Partners. (http://www.taverniercapital.com) EBS was able to secure this financing with terms that included a low floating rate based on LIBOR, low fees, and a substantial Interest-Only period allowing the projects to pay immediate cash flow.        

"The financing we structured will give Equity Based Services the opportunity to implement their leasing and management systems to maximize and enhance the occupancies and performance of these properties. In the current challenging financing environment well capitalized companies like EBS with management experience and expertise are able to secure favorable financing" said Saul Hoppenstein , Principal, Tavernier Capital Partners.

"We are fast movers. If a deal makes sense, we will close it quickly and move on to our next projects. The lending market has greatly improved our business. We only work with the best, fastest, and most reliable partners in the lending market. Most other players in the Self Storage arena have been forced out of the market due, mostly, to the fact that very few buyers have our infrastructure, track record, lender relationships, and management expertise that is now paramount in closing any kind of financing that makes sense in this business", states Troy Downing, EBS Fund Manager.

EBS will re-brand both of these facilities with their "American Mini Storage" brand that can be found online at: American Mini Storage (http://www.ams-storage.com). All EBS portfolio properties are aggressively managed by an in-house management company, All American Property Management, Inc.        

"Only well qualified Buyers with proven operating track records, infrastructure, and iron clad management continue to secure financing and close deals. Financing is only being secured by the strongest groups for the strongest projects. These projects are those that prove to be win/win opportunities for Buyer and Seller, but first and foremost for the Lender. Lenders dictate the market right now. They will not provide financing for projects that don't meet or exceed their strict requirements." states Stephen R. Kaplan, CEO of Equity based Services,         

"The pendulum has swung far to the other direction in favor of the Lenders. It is the Lenders who are now calling the shots. The bottom line is that Lenders will no longer lend on CAP rate speculation or unsubstantiated operating income."

About Equity Based Services, Inc.

EBS is a private real estate company specializing in the opportunistic acquisition and management of self-storage commercial property. EBS currently owns and operates nearly 60 Self-Storage properties in 10 states with a market value well exceeding $250 Million. EBS also manages a family of equity funds for institutional and high net worth individual investors. EBS Funds invest in both stabilized income producing commercial property and value added, opportunistic commercial real estate. The EBS Income Fund, the EBS Income and Growth Fund II, and the Pilot Equity Value Added Fund all closed in 2007 and represent more than $16,000,000.00 in capital contributions. All portfolio properties are aggressively managed by All American Property Management, Inc., an EBS company, to maximize returns to Investors. For more information, contact Katie Raden at 619-220-6700.

This Press Release is for general informational purposes only and does not, in any way, constitute an offering to buy or sell securities.

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