EX-99
6
exhibit_99-1.htm
EXHIBIT 99.1
Exhibit 99.1
Exhibit 99.1
10172 Linn Station Road
Louisville, Kentucky 40223
(502) 426-4800
Contact: Gregory A. Wells, Executive Vice President and CFO
Date: February 13, 2007
FOR IMMEDIATE RELEASE
NTS Realty Holdings Limited Partnership Announces the Sale of Springs
Medical Office Center and Springs Office Center in Louisville, Kentucky
Louisville, KY (February 13, 2007)
(AMEX: NLP) -
NTS Realty Holdings Limited Partnership (the "Company")
announced today that, after the close of business yesterday, it completed the sale of
Springs Medical Office Center and Springs Office Center, two of its office buildings
located in Louisville, Kentucky, to MRI Springs Portfolio, LLC, an unaffiliated Delaware
limited liability company. The Company received $28.9 million in connection with the sale.
A spokesperson for the Company indicated that the Company intends to use the proceeds from
the sale to repay a portion of its debt with National City Bank and to purchase properties
in a manner that would qualify as a Section 1031 exchange under the Internal Revenue Code.
About NTS Realty
Holdings Limited Partnership
The Company currently owns
twenty-seven properties, comprised of nine multifamily properties, fourteen office
buildings and business centers, three retail properties and one ground lease. The
properties are located in and around Louisville and Lexington, Kentucky, Nashville,
Tennessee, Richmond, Virginia, Fort Lauderdale, Florida, Indianapolis, Indiana and
Atlanta, Georgia. The Company's limited partnership units are listed on the American
Stock Exchange under the trading symbol "NLP".
Safe Harbor Under the
Private Securities Litigation Reform Act of 1995
This press release contains forward
looking statements that can be identified by the use of words like "believe,"
"expect", "may", "could", "intend,"
"project", "estimate", or "anticipate." These forward
looking statements, implicitly or explicitly, include assumptions underlying the
statements and other information with respect to the Company's beliefs, plans,
objectives, goals, expectations, estimates, intentions, financial condition, results of
operations, future performance and business, including its expectation of, and estimates
with respect to, revenues, expenses, earnings, return of and on equity, return on assets,
asset quality and other financial data and performance ratios. Although the Company
believes that the expectations reflected in its forward looking statements are reasonable,
these statements involve risks and uncertainties which are subject to change based on
various important factors, some of which are beyond the Company's control.
- more -
Important factors that would cause
actual results to differ materially from expectations are disclosed under "Risk
Factors" and elsewhere in the Company's most recent annual report on Form 10-K,
which was filed on April 3, 2006, and registration statement on Form S-4, which became
effective on October 27, 2004.
If one or more of the factors
affecting forward looking information and statements proves incorrect, the Company's
actual results of operations, financial condition or prospects could differ materially
from those expressed in, or implied by, the forward looking information and statements
contained in this press release.
- ### -

EX - 99 6 exhibit _ 99 - 1 . htm EXHIBIT 99 . 1 Exhibit 99 . 1 Exhibit 99 . 1 10172 Linn Station Road Louisville , Kentucky 40223 ( 502 ) 426 - 4800 Contact : Gregory A . Wells , Executive Vice President and CFO Date : February 13 , 2007 FOR IMMEDIATE RELEASE NTS Realty Holdings Limited Partnership Announces the Sale of Springs Medical Office Center and Springs Office Center in Louisville , Kentucky Louisville , KY ( February 13 , 2007 ) ( AMEX : NLP ) - NTS Realty Holdings Limited Partnership ( the " Company " ) announced today that , after the close of business yesterday , it completed the sale of Springs Medical Office Center and Springs Office Center , two of its office buildings located in Louisville , Kentucky , to MRI Springs Portfolio , LLC , an unaffiliated Delaware limited liability company . The Company received $ 28.9 million in connection with the sale . A spokesperson for the Company indicated that the Company intends to use the proceeds from the sale to repay a portion of its debt with National City Bank and to purchase properties in a manner that would qualify as a Section 1031 exchange under the Internal Revenue Code . About NTS Realty Holdings Limited Partnership The Company currently owns twenty - seven properties , comprised of nine multifamily properties , fourteen office buildings and business centers , three retail properties and one ground lease . The properties are located in and around Louisville and Lexington , Kentucky , Nashville , Tennessee , Richmond , Virginia , Fort Lauderdale , Florida , Indianapolis , Indiana and Atlanta , Georgia . The Company 's limited partnership units are listed on the American Stock Exchange under the trading symbol " NLP " . Safe Harbor Under the Private Securities Litigation Reform Act of 1995 This press release contains forward looking statements that can be identified by the use of words like " believe , " " expect " , " may " , " could " , " intend , " " project " , " estimate " , or " anticipate . " These forward looking statements , implicitly or explicitly , include assumptions underlying the statements and other information with respect to the Company 's beliefs , plans , objectives , goals , expectations , estimates , intentions , financial condition , results of operations , future performance and business , including its expectation of , and estimates with respect to , revenues , expenses , earnings , return of and on equity , return on assets , asset quality and other financial data and performance ratios . Although the Company believes that the expectations reflected in its forward looking statements are reasonable , these statements involve risks and uncertainties which are subject to change based on various important factors , some of which are beyond the Company 's control . - more - Important factors that would cause actual results to differ materially from expectations are disclosed under " Risk Factors " and elsewhere in the Company 's most recent annual report on Form 10 - K , which was filed on April 3 , 2006 , and registration statement on Form S - 4 , which became effective on October 27 , 2004 . If one or more of the factors affecting forward looking information and statements proves incorrect , the Company 's actual results of operations , financial condition or prospects could differ materially from those expressed in , or implied by , the forward looking information and statements contained in this press release . - # # # -
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