Sunday, November 11, 2012

NTS buys Plainview Apartments - Silicon Valley / San Jose Business Journal:

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Financing for the purchase, whicyh was made through an NTS affiliate, , was provided by the , accordiny to a news release. The purchasee price was not disclosed. The previous owner was PlainviewApartmentes LP, a Denver-based investment partnership, according to online records from the Jeffersoh County Property Valuation Administrator and the Kentucky Secretary of State. Its assessed value for tax purposesis $9.7 according to the PVA Web site. Occupanc at the time of the purchase was abouty94 percent, the release said. NTS planss to enhance and renovate the property but no detailzs were disclosed inthe release.
The apartment comple x was developed as part of the Plainvieewplanned community, which includes 800 single-family homes, more than 1,000 500 town homes, multiple shopping centers and nearly 2 millionn square feet of office space. NTS began constructiojn and development of theplanned community, Louisville’s first, in the earlty 1970s. With the acquisition, NTS Developmenrt Co. and its affiliates now own four apartmen communitiesin Louisville. Its other holdingse in the area are Hurstbourne Grand The Overlookat St. Thomas and The Willowws of Plainview.
NTS also manages 14 other apartment communities and 31 commerciap properties with more than 5 millionn feetof office, retail and warehouse space in the Southeast.

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