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LAS VEGAS-Equity Based Services Inc. has acquired two Storage One mini-storage facilities here for $12 million. EBS says it has terminated the management and licensing agreement with Storage One and will re-brand the two properties as American Mini Storage properties.

One of the properties is located at 4851 E. Bonanza Rd. in Las Vegas. The 58,125-sf (net rentable) facility has 543 storage units and 149 covered RV parking spaces. The second property is located at 733 South Racetrack Road in Henderson, NV, and offers 60,675 sf (net rentable) in 453 storage units and 49 RV parking spaces.

The acquisition is the San Diego-based company’s third, here, in the past year, bringing its Southern Nevada portfolio to 378,600 sf (net rentable) in six properties. Nationwide, EBS owns 50 self storage properties in nine states with a total of 3.14 million sf (net rentable) in 25,252 total storage units.

EBS says the equity for the acquisition came from private client investors and its closed private equity fund, the EBS Income and Growth Fund II. EBS obtained an 80% loan for the purchase. EBS says the loan “has very favorable terms” including a 30 month interest-only period, which allows for the maximization of cash flow to investors.

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