600 North Hurstbourne Parkway
Suite 300
Louisville, Kentucky 40222 (502) 426-4800
FOR IMMEDIATE RELEASE
Advisors Named by Special Committee to Assist in Review of NTS Realty Holdings Limited Partnership Going Private Proposal Louisville, KY (November 1, 2012) (NYSE MKT: NLP) - NTS Realty Holdings Limited Partnership (the "Company") announced today that the special committee of the board of directors of the Company's managing general partner, NTS Realty Capital, Inc. (the "Special Committee"), has retained Centerboard Securities, LLC as its financial advisor and previously retained Stites & Harbison, PLLC as its legal counsel to assist in its review of the non-binding proposal from the Company's founder and Chairman, Mr. J.D. Nichols, and its Chief Executive Officer, Mr. Brian F. Lavin, for a going private transaction (the "Proposal") and, if the Special Committee deems it appropriate, to assist it in considering any potential alternative transaction. The Company previously announced receipt of the Proposal on August 31, 2012.The Company cautions the Company's Limited Partnership Unit holders that no decision has been made by the Special Committee with respect to its response to the Proposal. There can be no assurance that any definitive offer will be made or accepted, that any agreement will be executed or that the Proposal or any other transaction will be approved or consummated. Interested parties are urged to read relevant documents, when and if filed by the Company with the Securities and Exchange Commission (the "SEC") because they will contain important information. Free copies of such relevant documents may be obtained at the SEC's website: www.sec.gov.
About NTS Realty Holdings Limited Partnership
The Company currently owns, wholly, as a tenant in common
with unaffiliated co-owners, or through joint venture
investments with affiliated and unaffiliated third parties,
twenty-four properties comprised of fifteen multifamily
properties, seven 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 MKT platform under the trading symbol of "NLP."
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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 23, 2012, 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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