Equity Based Services Inc. (EBS) purchased Advantage Storage in Rockwall, Texas, for an undisclosed amount. Advantage has 68,075 net-rentable square feet with 569 units, 247 of which have climate control. The occupancy at the time of the sale was 90 percent.
EBS will assume the existing debt. The existing loan is a 10-year, non-recourse loan at a fixed rate of 5.32 percent and a 30-year amortization. The facility will be rebranded American Mini Storage and managed by All American Property Management Inc., a wholly owned subsidiary of EBS.
EBS is a private real estate company specializing in the acquisition and management of self-storage. The company currently owns and operates 63 self-storage properties in 11 states.