EBS Launches TX Expansion With Buy

ARLINGTON, TX-Equity Based Services Inc. has made its first Texas purchases of self-storage facilities in 2009. The San Diego buyer has increased its portfolio by 1,566 units with its acquisition of two Assured Self Storage facilities from Dallas owner Don Valk.

Stephen Kaplan, Equity Based Services CEO tells GlobeSt.com that the facilities at 5500 Highway 287 and 1800 Sublett Rd. fit into the company’s strategic plan because they’re in infill locations and are stabilized properties that can increase in value with different management. Kaplan adds that the next steps for the 2002-built facilities are to re-brand them from the current Assured Self Storage name to operate under the American Mini Storage name. Also on the planning board is to in Equity Based Services’ multi-tiered management system.

The facilities are within three miles of each other. Though a sales price was kept confidential, the Tarrant County Appraisal District values them at a combined value of $8 million.

As the company’s management is repositioning its new buys, it is also looking for more assets to acquire. “We have several properties in the pipeline that are either under contract or negotiations are being finalized,” Kaplan comments. He goes on to say that the company typically acquires between 10 and 15 new properties a year, with maybe half of those in Texas. “Buying three to five more in the Dallas area this year would be nice,” he adds.

Kaplan explains that Texas is a favored state for Equity Based Services investment, especially lately. It is, he points out, one of the best-performing states in the United States right now, especially as it pertains to economic stability.

“We believe that the price of oil and commodities will continue to increase, because of inflation,” he adds. “That’ll continue having a positive value on our real estate assets.”