For Immediate Release
November 5, 2007


San Diego, CA-Pilot Equity Partners, LLC closes first deal in Memphis, TN.
Pilot Equity Partners Value Added Fund, a Private Equity Opportunity Fund, made its first property acquisition today by purchasing American Mini Storage III (Lock N Latch) on 10505 US Highway 64 in Arlington, TN.

Lock N Latch is comprised of 675 units of both climate and non-climate controlled storage as well as RV parking spaces. All American Property Management Inc., the in-house management company for Pilot Equity Partners, has infused this project with $300,000 of equity for capital improvements. These capital improvements have all been completed. Subsequently, underperforming units have been vacated and lease up is underway. Repositioning of this asset is expected to be complete by Fall of 2008.

This represents the first closing for the Pilot Equity Value Added Fund. The Pilot Equity Value Added Fund is an equity fund that purchases distressed, underperforming, and other value-added self storage properties.

“The opportunities in self-storage commercial properties are huge. Over the past year, we’ve seen a huge upheaval in the lending markets. In the beginning, sellers were able to get out of bad deals by using easy debt. Those days are over. The credit crunch has finally forced the owner/operators to lower prices in order to get out from under poor performers. We have the expertise and the management team necessary to take these properties off of the market, finance them, stabilize them, and offer superior returns to our investors.” –Troy Downing General Partner and Manager.

The Pilot Equity Value Added Fund is one of the Equity Based Services, Inc. (EBS) family of growth and income funds.

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Equity Based Services, Inc is a real estate acquisition company specializing in Self Storage Commercial Properties. EBS syndicates Tenant in Common transaction, facilitates 1031 exchanges, and manages a family of income and growth funds.

Pilot Equity Partners, LLC manages a family of value added funds that invest in Self Storage Commercial Properties. Pilot Equity Funds are targeted toward value added and growth opportunities with an emphasis on tax deferring strategies and higher back-end returns.

For more information, please contact Troy Downing or Stephen Kaplan at 619-220-6707.