REIT pledges West End apartments for refi
By Geert De Lombaerde Posted on November 25, 2009 at 7:53 amLouisville-based NTS Realty has refinanced about $150 million in debt using eight of its properties as collateral. Among them are the Grove at Richland and the Grove at Whitworth, which it acquired for $90 million in early 2006. The two complexes and the 21 acres they sit on were appraised this year at about $52 million.
Tags: apartments, commercial mortgages, commercial real estate, debt, Louisville, NTS Realty Holdings LP, real estate investment trusts, refinancing, residential real estate, West End
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