EX-99
2
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: May 19, 2006
FOR IMMEDIATE RELEASE
NTS Realty Holdings
Limited Partnership Announces the Sale of Commonwealth Business Centers I and II in Louisville, Kentucky
Louisville, KY (May 19, 2006)
(AMEX: NLP)
- NTS Realty Holdings Limited Partnership (the "Company")
announced today that on May 18, 2006, it completed the sale of Commonwealth Business
Centers I and II, two of its business centers located in Louisville, Kentucky, to an
unaffiliated Kentucky limited liability company. The Company received $7.1 million in
connection with the sale. A spokesperson for the Company indicated that the Company used
the proceeds from the sale to pay down its line of credit with National City Bank. The
sale of Commonwealth Business Centers I and II is part of a Section 1031 exchange under
the Internal Revenue Code involving the Company's purchase of AMLI at Castle Creek
and AMLI at Lake Clearwater, both of which are located in Indianapolis, Indiana.
About NTS Realty
Holdings Limited Partnership
The Company currently owns twenty -
nine properties, comprised of nine multifamily properties, sixteen 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.
- more -
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. Important factors
that would cause actual results to differ materially from expectations are disclosed under
"Risk Factors" and elsewhere in the Company's registration statement on
Form S-4, which became effective on October 27, 2004, and its annual report on Form 10-K
for the period ending December 31, 2005.
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 2 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 : May 19 , 2006 FOR IMMEDIATE RELEASE NTS Realty Holdings Limited Partnership Announces the Sale of Commonwealth Business Centers I and II in Louisville , Kentucky Louisville , KY ( May 19 , 2006 ) ( AMEX : NLP ) - NTS Realty Holdings Limited Partnership ( the " Company " ) announced today that on May 18 , 2006 , it completed the sale of Commonwealth Business Centers I and II , two of its business centers located in Louisville , Kentucky , to an unaffiliated Kentucky limited liability company . The Company received $ 7.1 million in connection with the sale . A spokesperson for the Company indicated that the Company used the proceeds from the sale to pay down its line of credit with National City Bank . The sale of Commonwealth Business Centers I and II is part of a Section 1031 exchange under the Internal Revenue Code involving the Company 's purchase of AMLI at Castle Creek and AMLI at Lake Clearwater , both of which are located in Indianapolis , Indiana . About NTS Realty Holdings Limited Partnership The Company currently owns twenty - nine properties , comprised of nine multifamily properties , sixteen 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 . - more - 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 . Important factors that would cause actual results to differ materially from expectations are disclosed under " Risk Factors " and elsewhere in the Company 's registration statement on Form S - 4 , which became effective on October 27 , 2004 , and its annual report on Form 10 - K for the period ending December 31 , 2005 . 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 . - # # # -