San Diego, CA (PRWEB) March 27, 2008 -- Equity Based Services, Inc. ("EBS"), a private real estate investment and management firm, announced today that they have acquired Silver Star Self Storage at 1905 East William Cannon Drive in Austin, Texas.

Equity Based Services has once again proven their strength as deal closers in an otherwise difficult market. EBS was able to close the purchase of Silver Star Self Storage showing EBS' strength in negotiating sales contracts and closing deals.

The ability and core strength of EBS' acquisitions team, due-diligence team, legal, accounting and in-house management has facilitated great financing terms and an attractive purchase price in a difficult lending market. Silver Star represents a strong Value-Added addition to the EBS portfolio of 47 owned and operated Self Storage facilities.

The closing of Silver Star represents a total value of acquisitions and new construction of $9,350,000 in the last 90 days. In addition to this, EBS is under contract and scheduled to close an additional 5 projects worth an aggregate of $32,950,000 in the next 60-90 days. This puts EBS on track to close roughly $100,000,000 of new acquisitions for the 2008 Fiscal year bringing their portfolio holdings up to a total of 52 owned and operated projects with a fair market value of over $204,000,000.

"The ability to close the number, size, and value of the deals that we are diligently pursuing, shows our strength and showcases our reputation as being strong closers in a slow real estate market and a very difficult lending market. Sellers recognize that we are able to close which enables us to negotiate very favorable purchase agreements. In addition to this, lenders have high confidence that we are able to perform on our loans. This allows us to negotiate attractive and competitive financing terms. These traits make us a very attractive partner in both the commercial real estate and financial markets." -- Troy Downing, Manager EBS and Principal of Pilot Equity Partners

"Interest rates have gone down in general but Lender spreads and cap rates have gone up considerably more. This means that we are starting to get incredible buys on highly desirable properties, such as Silver Star. This is happening because we are one of the few groups out there that can still obtain excellent financing.

"We knew that there would be fallout from the sub-prime mortgage market about a year ago. For this reason, We started building relationships with Lenders outside of Wall Street. These Lenders are not as affected by the "Credit Crunch", have not been experiencing margin calls, and have plenty of liquidity. They are also able to lend at very good interest rates and in many cases afford interest only periods.