SOURCE: NTS Realty Holdings Limited Partnership

NTS Realty Holdings Limited Partnership

December 14, 2010 17:22 ET

NTS Realty Holdings Limited Partnership Announces Fourth Quarter Distribution

LOUISVILLE, KY--(Marketwire - December 14, 2010) -  (NYSE Amex: NLP)  - NTS Realty Holdings Limited Partnership (the "Company") announced today that the board of directors of its managing general partner, NTS Realty Capital, Inc., approved a quarterly distribution of $0.05 per unit on the Company's limited partnership units. The distribution will be paid on January 14, 2011 to limited partners of record at the close of business on December 31, 2010. Distributions to limited partners are made in accordance with the Company's distribution policy as described in its most recent annual report on Form 10-K filed with the Securities and Exchange Commission on March 29, 2010.

A spokesperson for the Company indicated that, "In addition to the fourth quarter distribution, to the extent the Company has generated additional revenue in 2010 that otherwise would be available for distribution to its limited partners, the Company intends to establish and fund a reserve account to be used for future property acquisitions or other working capital purposes. Moreover, the Company expects to continue its conservative philosophy with respect to distributions for the first quarter of 2011. The amount of any future distributions will be subject to the performance of the Company's properties, its potential acquisitions and dispositions, the need for cash reserves and other factors, including, but not limited to, the volatility being exhibited in the domestic and international financial markets, the outcome of the pending property tax appeals related to certain of the Company's properties and the continued ability of the Company to favorably address vacancy and bad debt issues at its commercial and retail properties. The actual amount and timing of all future distributions must be approved by the managing general partner's board of directors."

About NTS Realty Holdings Limited Partnership

The Company directly, as a tenant in common with unaffiliated co-owners, or as a majority joint venture partner with an affiliate, currently owns twenty-two properties comprised of fourteen multifamily properties, six office buildings and business centers and two retail properties. The properties are located in and around Louisville and Lexington, Kentucky, Nashville and Cordova, Tennessee, Richmond, Virginia, Fort Lauderdale and Orlando, Florida, Indianapolis, Indiana and Atlanta, Georgia. The Company's limited partnership units are listed on the NYSE Amex platform under the trading symbol of "NLP."

Forward Looking Statements

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. 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 March 29, 2010, 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.

Contact Information

  • Contact:
    Gregory A. Wells
    Executive Vice President and CFO
    10172 Linn Station Road
    Louisville, Kentucky 40223
    (502) 426-4800