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: March 14, 2007
FOR IMMEDIATE RELEASE
NTS Realty Holdings Limited
Partnership Announces the Purchase of The Overlook at St. Thomas Multifamily Property in
Louisville, Kentucky with an Unaffiliated Co-owner
Louisville, KY (March 14, 2007)
(AMEX: NLP) -
NTS Realty Holdings Limited Partnership (the "Company")
announced today that it completed the purchase, through its wholly-owned subsidiary,
Overlook Apartments, LLC, of The Overlook at St. Thomas ("The Overlook"), a
multifamily property located in Louisville, Kentucky, with an unaffiliated co-owner. The
Company and its co-owner purchased the property from The Northwestern Mutual Life
Insurance Company (the "Seller"). The Company and its co-owner paid an aggregate
purchase price of $46.0 million to acquire The Overlook. A spokesperson for the Company
indicated that the Company and its co-owner satisfied the purchase price for The Overlook
with funds obtained from a $36.0 million mortgage loan and from proceeds from the
Company's sale of two of its office properties in February, 2007. The spokesperson
also indicated that the transaction was conducted pursuant to an Exchange Agreement with a
qualified intermediary as a transaction under Section 1031 of the Internal Revenue Code
which is intended to allow the Company to defer the payment of income tax on any gain
related to the sale of properties
.
About NTS Realty
Holdings Limited Partnership
The Company currently owns
twenty-eight properties, comprised of ten 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 : March 14 , 2007 FOR IMMEDIATE RELEASE NTS Realty Holdings Limited Partnership Announces the Purchase of The Overlook at St . Thomas Multifamily Property in Louisville , Kentucky with an Unaffiliated Co - owner Louisville , KY ( March 14 , 2007 ) ( AMEX : NLP ) - NTS Realty Holdings Limited Partnership ( the " Company " ) announced today that it completed the purchase , through its wholly - owned subsidiary , Overlook Apartments , LLC , of The Overlook at St . Thomas ( " The Overlook " ) , a multifamily property located in Louisville , Kentucky , with an unaffiliated co - owner . The Company and its co - owner purchased the property from The Northwestern Mutual Life Insurance Company ( the " Seller " ) . The Company and its co - owner paid an aggregate purchase price of $ 46.0 million to acquire The Overlook . A spokesperson for the Company indicated that the Company and its co - owner satisfied the purchase price for The Overlook with funds obtained from a $ 36.0 million mortgage loan and from proceeds from the Company 's sale of two of its office properties in February , 2007 . The spokesperson also indicated that the transaction was conducted pursuant to an Exchange Agreement with a qualified intermediary as a transaction under Section 1031 of the Internal Revenue Code which is intended to allow the Company to defer the payment of income tax on any gain related to the sale of properties . About NTS Realty Holdings Limited Partnership The Company currently owns twenty - eight properties , comprised of ten 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 . - # # # -