While Las Vegas has been getting negative press lately Downingsays self storage deals still make a lot of sense because theproduct type has historically performed well in down economies.Silverado is the company's seventh self-storage asset in theregion. "Being a contrarian investment…we expect Silverado to havean above average return in cash flow immediately and we believethere is a high potential for above average appreciation when theLas Vegas real estate markets recover," he says.

In addition, Downing says the property benefits from multiplerevenue streams; they include 625 climate-controlled storage units,26 RV parking spaces, a cellular tower and a three-sided billboardfacing the highway. "Silverado is one of the better positionedassets that we have added to our portfolio this year in terms ofcash flow, stability and upside potential," he says.

Equity for EBS acquisitions comes from EBS' closed PrivateEquity Income and Growth Funds, 1031 Exchange Investors and EBS'existing private client cash investors. The acquisition financingincluded a floating interest rate loan with "a significantinterest-only period," according to EBS. "We experienced a hugedemand to participate in this project from our cash investors andfrom our 1031 Investors," Downing says.