Louisville Real Estate News

NTS Realty, a Louisville commercial real estate company, selling Orlando apartments, buying properties in Tennessee, Virginia

NTS Realty Holdings LP has sold Golf Brook and Sabal Park apartments, its multifamily properties in Orlando, Fla., to two unaffiliated Florida entities for a total purchase price of $71.5 million.

The buyer of Golf Brook, a 195-unit complex, is a holding company called Golfbrook RB-GEM LLC. The buyer of Sabal Park, with 162 units, was Sabal Park RB-GEM LLC.

NTS Realty also purchased two, multifamily properties in Nashville, Tenn., and one in Chesterfield County, Va. The total price tag was $117.2 million. The seller was Delaware-based Schaedle Worthington Hyde Properties LP.

The Tennessee properties are the 292-unit Grove at Richland and the 301-unit Grove at Whitworth. The Virginia property is the 240-unit Grove at Swift Creek apartments.

Louisville commercial real estate NTS Realty owns 34 properties, including 11 multifamily apartments, 19 office buildings and business centers, three retail developments and one ground lease. The company’s limited partnership units are listed on the American Stock Exchange under the ticker symbol NLP.