San Diego, CA- Equity Based Services, Inc. (“EBS”), a private real estate investment and management firm, and Pilot Equity Partners, LLC, a Private Equity Fund announced today that they have acquired Central Self Storage in Phoenix Arizona.

Central Self Storage is located 11 ½ miles north of downtown Phoenix. It is comprised of 608 units consisting of both climate and non-climate controlled. There are large residential complexes nearby mostly to the east. It is currently developed with 16 concrete and block buildings that were constructed in 1972, 1973 and 1989. There is a total of 76,865 rentable square feet. This project suffered from lack of professional management and poor market positioning. EBS and Pilot Equity Partners, LLC will use a combination of professional management and capital improvements to turn this project into an outstanding performer.

Central Self Storage represents the 14th acquisition for Equity Based Services for the 2007 calendar year. Stephen Kaplan, CEO of EBS says, “I am very excited about the area and the facility. I expect this to be a very strong producer for our investors. This facility was greatly in need of a professional management team to turn it around and to maximize its potential.”

Troy Downing, Manager of Pilot Equity Partners states: “Central Self Storage represents a fantastic opportunity to us and to our investors. This is a classic Pilot Equity Partners project as it is an underperforming asset in a strong class B area. Through our expertise in management and lease up, combined with minor capital improvements, this project should do extremely well.”

Currently, EBS owns and operates 9 Self Storage properties in Arizona including the Phoenix and Tucson areas. These projects include:

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About EBS
Equity Based Services, Inc. (EBS) is a private equity real estate company specializing in the opportunistic acquisition and management of self-storage commercial property. EBS currently owns and operates 45 Self-Storage properties in 9 states worth more than $150,000,000.00. 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 equity contributions. All portfolio properties are aggressively managed by All American Property Management, Inc., to maximize returns. For more information, contact Katie Raden at 619-220-6700.