UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
Date of Report (Date of earliest event reported) May 14, 1996 (March 29, 1996)
Commission File Number 0-18952
NTS-PROPERTIES PLUS LTD.
(Exact name of registrant as specified in its charter)
Florida 61-1126478
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization) No.)
10172 Linn Station Road
Louisville, Kentucky 40223
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number,
including area code (502) 426-4800
Not Applicable
Former name, former address and former fiscal year,
if changed since last report
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Item 5. Other Items
The Lakeshore/University II Joint Venture, in which NTS-Properties
Plus Ltd. has a 12% interest, has obtained a commitment from an
insurance company for permanent financing in the amount of
$17,400,000. The mortgage will mature twelve years from the loan
closing date and will bear interest at a fixed rate of 8.125%. The
repayment of the principal will be amortized over 12 years with
monthly payments of principal and interest in the amount of
$189,541. The proceeds of the permanent financing will be used to
pay off the Joint Venture's current debt financings of
approximately $16.9 million which bear interest at a fixed rate of
10.6%. The remaining proceeds will be used to fund Joint Venture
tenant finish improvements, leasing costs and loan closing costs.
The closing date of the permanent financing is expected to take
place before June 30, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
NTS-PROPERTIES PLUS LTD.
(Registrant)
BY: NTS-Properties Plus Associates
BY: NTS Capital Corporation,
General Partner
/s/ John W. Hampton
John W. Hampton
Senior Vice President
Date: May 14, 1996
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