Phoenix, AZ (PRWEB) September 21, 2009
Equity Based Services, Inc. (“EBS”) announced nowadays that they have effectively renegotiated an extension to an current construction loan. The original loan was utilized to construct a Class-A, 2-storey expansion to the EZ Store facility in Peoria, AZ a suburb of Phoenix.

The three year building loan with Imperial Capital Bank came due this month and was extended for an extra year at substantially the same terms. The interest price remains at Bank of America Prime + 50 basis points and amortized more than 25 years.

EZ Shop received its Certificate of Occupancy on January 20th of 2008 and began rental activity on February 1, 2008. As of the refinancing, the new facility has achieved 79% occupancy by square foot. Full stabilization is anticipated by the time the loan matures which need to facilitate the straightforward and straightforward placement of permanent financing.

“This loan extension shows that there is pragmatic optimism in the commercial lending markets and that lenders are being affordable with modifying loan terms on projects that make financial sense. The financial landscape still makes sense for offers that make sense,” states Troy Downing, Principal Equity Primarily based Solutions, Inc.

“In today’s atmosphere, the ability to refinance or extend a loan is driven by the Lender’s perception of an operator’s experience, professionalism, and the constant execution of a nicely thought out organization strategy.” States Stephen Kaplan, CEO, Equity Based Solutions. “A loan modification that does not involve a reduction of principal, a greater interest rate, or further collateral requirement validates an Operator’s ability to perform in a down or receding economy.”

About Equity Primarily based Services, Inc 
EBS is a Private Actual Estate Business specializing in the acquisition and management of self-storage home. According to the Mini-Storage Messenger, EBS is one particular of the best owner/operators in the US. EBS currently owns and operates 63 Self-Storage properties in 11 states with a current marketplace worth of a lot more than $ 300 Million. EBS also manages a family members of Private Equity Funds for institutional and higher net worth person investors. The EBS Income Fund, the EBS Revenue and Growth Fund II, and the Pilot Equity Value Added Fund all closed in 2007. For far more details, make contact with Kurt Ambrosius at 619-220-6700.

This Press Release is for informational purposes only and does not, in any way, constitute an providing to buy or sell securities.

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