Equity Based Services Inc. of San Diego purchased two self-storage properties in Arlington, Texas. Assured Median Self Storage has 79,095 net rentable square feet, 738 units and 17 parking spaces. Assured Sublett Self Storage has 88,920 net rentable square feet, 728 storage units and 24 parking spaces. These facilities bring the EBS portfolio to a total of 62 facilities in 11 states.
The Arlington purchases kick off the company’s aggressive acquisition plan for the Dallas region, according to Eric Kaplan, chief operating officer. Equity for the purchase came from the EBS Income Fund III and a pool of private client investors. Financing for the deal was facilitated through Tavernier Capital Partners. EBS was able to place a limited-recourse mortgage with one year of interest-only payments and a five-year term that amortizes over 25 years.
EBS is a private real estate company specializing in the acquisition and management of self-storage property. The company owns and operates approximately 60 properties in 11 states with a current market value of more than $300 million.