UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q


(Mark one)

[X]       QUARTERLY REPORT PURSUANT TO SECTION 13 OR  15(d)  OF  THE  SECURITIES
          EXCHANGE ACT OF 1934

For the quarterly period ended               September 30, 1999
                               -------------------------------------------------
                                  OR

[ ]       TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)  OF  THE  SECURITIES
          EXCHANGE ACT OF 1934

For the transition period from                    to
                              --------------------  ----------------------------

Commission File Number                       0-14695
                      ----------------------------------------------------------
                NTS-PROPERTIES VI, A MARYLAND LIMITED PARTNERSHIP
--------------------------------------------------------------------------------
      (Exact name of the registrant as specified in its charter)


         Maryland                                        61-1066060
--------------------------------                  ------------------------------
(State or other jurisdiction of                       (I.R.S. Employer
incorporation or organization)                        Identification No.)


     10172 Linn Station Road
        Louisville, KY                                      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 with
                               since last report.

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by the Section 13 or 15(d) of the  Securities  Exchange  Act of 1934
during  the  preceding  12  months,  and (2) has  been  subject  to such  filing
requirements for the past 90 days.


                                                   YES  __X___      NO
                                                                      ---------
Exhibit Index: See page 24
Total Pages: 25

<PAGE>

                                TABLE OF CONTENTS
                                -----------------


                                     PART I


Item 1.   Financial Statements                                            Pages
                                                                          -----

          Balance Sheets and Statement of Partners' Equity
                as  of  September  30,  1999  and  December  31,  1998         3

          Statements of Operations
               For the three months and nine months ended
               September 30, 1999 and 1998                                     4

          Statements of Cash Flows
               For the nine months ended September 30, 1999
               and 1998                                                        5

          Notes to Financial Statements                                     6-13

Item 2.   Management's Discussion and Analysis of Financial
               Condition and Results of Operations                         14-23

Item 3.   Quantitative and Qualitative Disclosures About
               Market Risk                                                    23


                                     PART II
Item 1.   Legal Proceedings                                                   24
Item 2.   Changes in Securities                                               24
Item 3.   Defaults Upon Senior Securities                                     24
Item 4.   Submission of Matters to a Vote of Security Holders                 24
Item 5.   Other Information                                                   24
Item 6.   Exhibits and Reports on Form 8-K                                    24

Signatures                                                                    25

                                       2

<PAGE>

PART I.   FINANCIAL INFORMATION
Item 1.   Financial Statements
          --------------------

<TABLE>
                              NTS-PROPERTIES VI,
                               ------------------
                         A Maryland Limited Partnership
                         ------------------------------

                BALANCE SHEETS AND STATEMENTS OF PARTNERS' EQUITY
                -------------------------------------------------
<CAPTION>
                                         As of               As of
                                     September 30,       December 31,
                                         1999                1998*
                                         ----                -----
ASSETS
------
<S>                                   <C>                 <C>
Cash and equivalents                  $    336,845        $    362,822
Cash and equivalents - restricted          523,675             446,097
Accounts receivable                        140,350             125,474
Land, buildings and amenities, net      39,556,948          37,388,637
Construction in progress                 6,775,208           4,363,046
Other assets                               483,522             493,329
                                       ------------        ------------
  Total assets                        $ 47,816,548        $ 43,179,405
                                       ============        ============

LIABILITIES AND PARTNERS' EQUITY
--------------------------------

Mortgages and notes payable           $ 31,640,740        $ 27,119,180
Accounts payable - operations              357,171             245,279
Accounts payable - construction            448,804             319,757
Retainage payable                          231,348             141,280
Distributions payable                      100,604             102,497
Security deposits                          215,406             222,794
Other liabilities                          782,800              87,030
                                       ------------        ------------
                                        33,776,873          28,237,817

Commitments and contingencies

Partners' equity                        14,039,675          14,941,588
                                       ------------        ------------
  Total liabilities and partners'
   equity                             $ 47,816,548        $ 43,179,405
                                       ============        ============
</TABLE>
<TABLE>
<CAPTION>
                               Limited        General
                               Partners       Partner         Total
                               --------       -------         -----
PARTNERS' EQUITY
----------------
<S>                          <C>            <C>            <C>
Capital contributions, net
 of offering costs           $ 40,518,631   $     100      $ 40,518,731
Net income (loss) - prior
 years                        (11,749,141)    (70,288)      (11,819,429)
Net income (loss) - current
 year                            (151,079)     (1,526)         (152,605)
Cash distributions declared
 to date                      (11,908,663)   (120,290)      (12,028,953)
Repurchase of limited
 partnership Units             (2,478,069)       --          (2,478,069)
                              ------------   ---------      ------------
Balances at September 30,
 1999                        $ 14,231,679   $(192,004)     $ 14,039,675
                              ============   =========      ============
</TABLE>
* Reference  is made to the audited  financial  statements  in the Form 10- K as
filed with the Commission on March 31, 1999.

                                       3

<PAGE>
<TABLE>
                               NTS-PROPERTIES VI,
                               ------------------
                         A Maryland Limited Partnership
                         ------------------------------

                            STATEMENTS OF OPERATIONS
                            ------------------------
<CAPTION>
                             Three Months Ended           Nine Months Ended
                                September 30,               September 30,
                                -------------               -------------
                             1999           1998          1999          1998
                             ----           ----          ----          ----
REVENUES:
---------
<S>                       <C>           <C>            <C>           <C>
 Rental income            $2,345,417    $2,537,372     $7,074,011    $7,372,524
 Interest and other income     9,792        20,234         29,710        81,770
                           ----------    ----------     ----------    ----------

                           2,355,209     2,557,606      7,103,721     7,454,294
EXPENSES:
---------
 Operating expenses          671,463       718,335      1,838,025     1,896,817
 Operating expenses -
  affiliated                 315,907       310,728        969,809       918,269
 Write-off of unamortized
  land improvements and
  amenities                   17,594         4,984        252,133        17,582
 Interest expense            502,839       493,145      1,461,208     1,475,067
 Management fees             123,268       129,155        367,782       374,571
 Real estate taxes           203,311       201,374        609,932       605,194
 Professional and
  administrative expenses     58,958        56,498        195,416       126,273
 Professional and
  administrative expenses
  - affiliated                61,952        62,088        176,485       197,046
 Depreciation and
  amortization               476,780       451,815      1,385,536     1,348,414
                           ----------    ----------    -----------   -----------

                           2,432,072     2,428,122      7,256,326     6,959,233
                           ----------    ----------    -----------   -----------
Net income (loss)         $  (76,863)   $  129,484    $  (152,605)  $   495,061
                           ==========    ==========    ===========   ===========
Net income (loss)
 allocated to the limited
 partners                 $  (76,094)   $  128,189    $  (151,079)  $   490,110
                           ==========    ==========    ===========   ===========
Net income (loss) per
 limited partnership Unit $    (1.91)   $     3.12    $     (3.79)  $     11.78
                           ==========    ==========    ===========   ===========
Weighted average number
 of limited partnership
 Units                        39,839        41,097         39,905        41,586
                           ==========    ==========    ===========   ===========
</TABLE>
                                       4

<PAGE>
<TABLE>
                               NTS-PROPERTIES VI,
                               ------------------
                         A Maryland Limited Partnership
                         ------------------------------
                            STATEMENTS OF CASH FLOWS
                            ------------------------
<CAPTION>
                                    Nine Months Ended September 30,
                                    -------------------------------

                                       1999                1998
                                       ----                ----
CASH FLOWS FROM OPERATING ACTIVITIES
------------------------------------
<S>                                 <C>                 <C>
 Net income (loss)                  $  (152,605)        $   495,061
 Adjustments to reconcile net
  income (loss) to net cash
  provided by (used in) operating
  activities:
  Accrued interest on investments
   securities                              --                 9,354
  Write-off of unamortized land
   improvements and amenities           252,133              17,582
    Depreciation and amortization     1,385,535           1,348,414
    Changes in assets and liabilities:
     Cash and equivalents - restricted (155,078)           (129,286)
     Accounts receivable                (14,876)            (13,936)
     Other assets                         2,488              17,196
     Accounts payable                   111,892              48,395
     Security deposits                   (7,388)                (71)
     Other liabilities                  695,770             459,239
                                     -----------         -----------
  Net cash provided by operating
   Activities                         2,117,871           2,251,948
                                     ===========         ===========
CASH FLOWS FROM INVESTING ACTIVITIES
------------------------------------
 Additions to land, buildings
  and amenities                      (6,192,983)         (1,211,659)
 Accounts payable - construction        219,115                --
 Purchase of investment securities         --            (1,004,314)
 Maturity of investment securities         --             2,455,701
                                     -----------         -----------
  Net cash provided by (used in)
   investing activities              (5,973,868)            239,728
                                     ===========         ===========
CASH FLOWS FROM FINANCING ACTIVITIES
------------------------------------
 Principal payments on mortgages
  Payable                            (1,346,480)           (749,534)
 Proceeds from mortgage loan          5,868,040                --
 Loan costs                             (17,837)            (69,863)
 Cash distributions                    (303,703)           (529,238)
 Repurchase of limited
  partnership Units                    (447,500)           (698,950)
 Cash and equivalents - restricted       77,500             258,670
                                     -----------         -----------
  Net cash provided by (used in)
   financing activities               3,830,020          (1,788,915)
                                     ===========         ===========
  Net increase (decrease) in
   cash and equivalents                 (25,977)            702,761

CASH AND EQUIVALENTS, beginning
 of period                              362,822             276,891
                                     -----------         -----------
CASH AND EQUIVALENTS, end of
 period                             $   336,845         $   979,652
                                     ===========         ===========
Interest paid on a cash basis       $ 1,481,798         $ 1,482,200
                                     ===========         ===========
</TABLE>
                                       5

<PAGE>

                               NTS-PROPERTIES VI,
                               ------------------
                         A Maryland Limited Partnership
                         ------------------------------
                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------


The  financial  statements  and  schedules  included  herein  should  be read in
conjunction with the  Partnership's  1998 Form 10-K as filed with the Securities
Exchange  Commission on March 31, 1999.  In the opinion of the General  Partner,
all adjustments (only consisting of normal recurring  accruals)  necessary for a
fair  presentation have been made to the accompanying  financial  statements for
the three months and nine months ended September 30, 1999 and 1998.

1.Use of Estimates in the Preparation of Financial Statements
  -----------------------------------------------------------

  The preparation of financial  statements in conformity with generally accepted
  accounting  principles  requires  management to make estimates and assumptions
  that affect the reported  amounts of assets and  liabilities and disclosure of
  contingent assets and liabilities at the date of the financial  statements and
  the reported  amounts of revenues and expenses  during the  reporting  period.
  Actual results could differ from those estimates.

2.Basis of Property and Depreciation
  ----------------------------------

  Land,  buildings and amenities  are stated at cost to the  Partnership.  Costs
  directly  associated with the  acquisition,  development and construction of a
  project are  capitalized.  Depreciation  is computed  using the  straight-line
  method over the estimated  useful lives of the assets which are 5-30 years for
  land  improvements,  5-30 years for building and improvements,  5-30 years for
  amenities and the applicable lease term for tenant improvements.

  Statement of Financial  Accounting  Standards (SFAS) No. 121,  "Accounting for
  the Impairment of Long-Lived  Assets and for Long- Lived Assets to be Disposed
  Of,"  specifies  circumstances  in which  certain  long-lived  assets  must be
  reviewed for impairment.  If such review indicates that the carrying amount of
  an asset  exceeds  the sum of its  expected  future  cash  flows,  the asset's
  carrying  value  must  be  written  down to fair  value.  Application  of this
  standard  during the periods ended  September 30, 1999 and 1998 did not result
  in an impairment loss.

3.Concentration of Credit Risk
  ----------------------------

  The Partnership  owns and operates,  either wholly or through a Joint Venture,
  residential  properties,  all of which are apartments  complexes,  in Kentucky
  (Louisville and Lexington),  Indiana (Indianapolis) and Florida (Orlando). The
  apartment  unit is  generally  the  principal  residence  of the  tenant.  The
  Partnership  also owns and  operates,  through a Joint  Venture,  a commercial
  property in Louisville,  Kentucky.  Substantially all of the tenants are local
  businesses or are businesses which have operations in the Louisville area.

4.Investment Securities
  ---------------------

  Investment  securities  represent  investments in  Certificates  of Deposit or
  securities  issued by the U.S.  Government with initial  maturities of greater
  than three months.  The  investments are carried at cost,  which  approximates
  market value. The Partnership  sold no securities  during the three months and
  nine months ended  September 30, 1999. The  Partnership  held no securities at
  September 30, 1999 or at December 31, 1998.

                                       6

<PAGE>

5. Mortgages Payable
   -----------------

   Mortgages payable consist of the following:


                                    September 30,       December 31,
                                        1999                1998
                                        ----                ----
   Mortgage   payable   with   an
   insurance   company    bearing
   interest at 7.74%, due October
   15,  2012  secured by  certain
   land, buildings and amenities.    $  9,761,891        $  6,151,658

   Mortgage   payable   with   an
   insurance   company    bearing
   interest at 7.32%, due October
   15,  2012  secured by  certain
   land, buildings and amenities        7,858,798           8,120,331

   Mortgage   payable   with   an
   insurance   company    bearing
   interest at 7.43%, due May 14,
   2009  secured by certain land,
   buildings and amenities.             7,817,125           8,220,270

   Mortgage   payable   with   an
   insurance   company    bearing
   interest    at   7.38%,    due
   December  5, 2012  secured  by
   certain  land,  buildings  and
   amenities.                           2,627,696           2,713,152

   Note payable to a bank,currently
   bearing  interest at the Euro-
   Rate plus 225 basis points,due
   June  23,  2002   secured   by
   certain  land,  buildings  and
   amenities.  At September   30,
   1999, the interest  rate   was
   approximately 7.63%.                 1,757,808               --

   Mortgage   payable   with   an
   insurance   company    bearing
   interest    at   7.38%,    due
   December  5, 2012  secured  by
   certain  land,  buildings  and
   amenities.                           1,751,797           1,808,769

   Note   payable  to   a   bank,
   bearing interest at the  Prime
   Rate  + 1%, due June 14,  2001
   secured   by   certain   land,
   buildings  and  amenities.  At
   September   30,   1999,    the
   interest rate was 9.25%.         $     65,625        $    105,000
                                     -----------         -----------

                                    $ 31,640,740        $ 27,119,180
                                     ===========         ===========

                                       7

<PAGE>

5.Mortgages Payable - Continued
  -----------------------------

  Based on the  borrowing  rates  currently  available  to the  Partnership  for
  mortgages  with  similar  terms  and  average  maturities,  the fair  value of
  long-term debt is approximately $31,065,000.

  The mortgage payable with an outstanding balance of $9,761,891 as of September
  30, 1999 has an additional availability of $2,438,109.  The proceeds are being
  used to fund the  construction of Park Place  Apartments Phase III (See Note 9
  Commitments and Contingencies for further information).

  As of March 31, 1999, the Partnership  had obtained a temporary  mortgage loan
  from a bank in the amount of $500,000.  A portion of the proceeds were used to
  pay tenant finish costs at Plainview  Point III Office  Center.  The remaining
  proceeds were used to make equity contributions to Park Place Apartments Phase
  III in accordance with the loan agreement with the mortgage company. The land,
  buildings  and  amenities of  Plainview  Point III Office  Center  secured the
  mortgage  payable.  The mortgage bore interest at the Euro-Rate plus 225 basis
  points and matured on September 30, 1999.

  On June 23, 1999, the  Partnership  obtained  permanent  financing from a bank
  with an availability of $2,000,000.  The temporary  mortgage loan of $500,000,
  mentioned above, was paid at the time of the closing.  The remaining  proceeds
  will be used to fund  renovations  of the community  clubhouses at Park Place,
  Golf Brook and Sabal Park Apartments. The proceeds are also being used to fund
  a portion of the tenant  finish costs at Plainview  Point III Office Center as
  well as a portion of the  construction  costs of Park Place  Apartments  Phase
  III. The land,  buildings and  amenities of Plainview  Point III Office Center
  secure the mortgage payable. The mortgage bears interest at the Euro-Rate plus
  225 basis points and matures on June 23, 2002 (See Note 11  Subsequent  Events
  for further information regarding this mortgage payable).

6.Interest Repurchase Reserve
  ---------------------------

  Pursuant to Section 16.4 of the Partnership's  Amended and Restated  Agreement
  of Limited  Partnership,  the Partnership  established an Interest  Repurchase
  Reserve.  As of October 25, 1998 (the  commencement  date of the First  Tender
  Offer),  the Partnership had repurchased a total of 6,846 Units for $1,861,200
  at a price ranging from $250 to $350 per unit. The Interest Repurchase Reserve
  was  funded  from  cash  reserves.  The  above  offering  price  per  Unit was
  established by the General Partner in its sole discretion and does not purport
  to represent the fair market or  liquidation  value of the Units at that date.
  Repurchased  Units have been retired by the  Partnership,  thus increasing the
  percentage of ownership of each remaining limited  partnership  investor.  The
  funds remaining in the Interest  Repurchase Reserve at the commencement of the
  First Tender Offer dated October 20, 1998  (discussed  below) were returned to
  unrestricted cash for utilization in the Partnership's operations.

7.Tender Offers
  -------------

  On October 25,  1998,  the  Partnership  and ORIG,  LLC, an  affiliate  of the
  Partnership,  (the  "bidders")  commenced a tender  offer (the  "First  Tender
  Offer") to purchase up to 1,250 of the Partnership's limited partnership Units
  at a price of $350 per Unit. The initial  expiration  date of the First Tender
  Offer was January 18, 1999, and this expiration date was subsequently extended
  through  March 31, 1999. A total of 2,103 Units were  tendered and the bidders
  accepted all Units tendered.  The Partnership  repurchased 750 Units and ORIG,
  LLC  purchased  1,353 Units at a total cost of $788,050  ($736,050 to purchase
  2,103 Units plus approximately  $52,000 for expenses associated with the First
  Tender Offer).

                                       8

<PAGE>

7.Tender Offers - Continued
  -------------------------

  On June  25,  1999,  the  Partnership  and  ORIG,  LLC,  an  affiliate  of the
  Partnership,  (the  "bidders")  commenced a second  tender  offer (the "Second
  Tender  Offer")  to  purchase  up  to  1,000  of  the  Partnership's   limited
  partnership  Units at a price  of $350  per Unit as of the date of the  Second
  Tender  Offer.  The initial  expiration  date of the Second  Tender  Offer was
  August 31, 1999. On August 23, 1999,  the price was increased to $370 per Unit
  and the expiration date was extended to September 30, 1999.

  As of September 30, 1999, a total of 2,801 Units were tendered pursuant to the
  Second  Tender  Offer  and  the  bidders  accepted  all  Units  tendered.  The
  Partnership  purchased 500 Units at a cost of $185,000 and ORIG, LLC purchased
  2,301 Units at a cost of $851,370.  The expenses associated with administering
  the Second  Tender Offer are  estimated to be $25,000 (See Note 11  Subsequent
  Events for further information regarding the tender offers).

8.Related Party Transactions
  --------------------------

  Pursuant to an agreement with the  Partnership,  property  management  fees of
  $123,268 and $129,155 for the three months ended  September 30, 1999 and 1998,
  respectively,  and $367,782  and $374,571 for the nine months ended  September
  30, 1999 and 1998,  respectively,  were paid to NTS  Development  Company,  an
  affiliate of the General Partner.  The fee is equal to 5% of gross revenues of
  the  residential  properties  and 6% of the gross  revenues of the  commercial
  property. Also pursuant to an agreement,  NTS Development Company will receive
  a repair and  maintenance  fee equal to 5.9% of costs incurred which relate to
  capital improvements and major repair and renovation projects. The Partnership
  incurred  repair and  maintenance  fees of $4,158 and $1,664  during the three
  months ended September 30, 1999 and 1998, respectively, and $19,028 and $4,420
  during the nine months ended  September 30, 1999 and 1998,  respectively.  The
  Partnership  was also  charged  the  following  amounts  from NTS  Development
  Company for the three  months and nine  months  ended  September  30, 1999 and
  1998,  respectively.  These charges  include items which have been expensed as
  operating  expenses - affiliated or professional and  administrative  expenses
  affiliated,  and items which have been capitalized as other assets or as land,
  buildings and amenities.

                     Three Months Ended        Nine Months Ended
                        September 30,            September 30,
                        -------------            -------------

                      1999         1998        1999        1998
                      ----         ----        ----        ----
Administrative     $ 128,295    $  75,209    $  380,364  $  236,397

Property manager     192,451      238,091       580,123     712,216

Leasing               50,572       55,665       187,720     154,381

Construction manager  96,518       71,316       342,142     145,654

Other                    (26)      41,559        11,027      61,024
                    ---------    --------     ---------   ---------

                   $ 467,810    $ 481,840    $1,501,376  $1,309,672
                    =========    ========     =========   =========

9.Commitments and Contingencies
  -----------------------------

  The Partnership began the construction of Park Place Apartments Phase III (152
  units)  during  1998 on the 15 acres of land it owns which is  adjacent to the
  existing  Park  Place  Apartments  in  Lexington,  Kentucky.  It is  currently
  estimated that the cost of the project will be $9,500,000.  Construction costs
  will be funded by loan  proceeds of  $7,200,000  from a mortgage loan obtained
  during 1997 and cash  reserves.  Through  September  30,  1999,  approximately
  $7,548,000 of the cost had been incurred.

                                       9

<PAGE>

9.Commitments and Contingencies - Continued
  -----------------------------------------

  On September 8, 1999,  one building (out of a total of thirteen  buildings) of
  the Park Place Apartments  Phase III construction  project was turned over for
  leasing.  The  building  contains  14 units of which one unit was leased as of
  September  30, 1999.  As a result of units being turned over,  $875,000 of the
  total  estimated   construction  costs  of  $9,500,000  has  been  moved  from
  construction in progress to land, buildings and amenities, net.

  Construction  in progress on the September  30, 1999 Balance  Sheet  primarily
  relates to Park Place Apartments Phase III. Approximately $22,900 of the total
  construction  in  progress  costs are  related to tenant  finish  costs at the
  Plainview Point III Office Center.  The Partnership also plans to renovate the
  community  clubhouses  at Park  Place,  Golf Brook and Sabal  Park  Apartments
  during 1999 and 2000. It is currently  estimated  the  aggregate  cost for all
  three  renovations will be approximately  $630,000.  The Partnership  plans to
  fund the renovations with financing obtained on June 23, 1999 in the amount of
  $2,000,000,  which is  secured  by  Plainview  Point III  Office  Center.  The
  remaining  proceeds  will be used to fund a portion of the tenant finish costs
  at Plainview Point III Office Center as well as a portion of the  construction
  costs of Park Place Apartments Phase III.

10.Segment Reporting
   -----------------

  The  Partnership's  reportable  operating  segments  include  Residential  and
  Commercial real estate operations.  The Residential  operations  represent the
  Partnership's  ownership and operating results relative to apartment complexes
  known as Willow Lake, Park Place Phase I, Park Place Phase III, Sabal Park and
  Golf Brook. The Commercial  operations  represent the Partnership's  ownership
  and operating  results relative to suburban  commercial  office space known as
  Plainview Point III Office Center.

  The financial  information of the operating segments has been prepared using a
  management  approach,  which is consistent  with the basis and manner in which
  the Partnership's  management internally  disaggregates  financial information
  for the purposes of  assisting in making  internal  operating  decisions.  The
  Partnership  evaluates  performance based on stand-alone operating segment net
  income.
<TABLE>
                                NINE MONTHS ENDED SEPTEMBER 30, 1999
<CAPTION>
                            MULTIFAMILY      COMMERCIAL         TOTAL
                            -----------      ----------         -----
<S>                         <C>               <C>            <C>
   Rental income            $6,516,312        $557,699       $7,074,011
   Other income                 18,043             980           19,023
                             ----------        --------       ---------

   Total net revenues       $6,534,355        $558,679       $7,093,034
                             ==========        ========       =========

   Operating expenses        2,554,115         253,719        2,807,834
   Write-off of unamortized
    building improvements      235,381          16,752          252,133
   Management fees             331,850          35,932          367,782
   Real Estate taxes           585,109          24,823          609,932
   Depreciation expense      1,186,301         119,723        1,306,024
                             ----------        --------       ---------
   Net income               $1,641,599        $107,730       $1,749,329
                             ==========        ========       =========

</TABLE>
                                       10

<PAGE>

10. Segment Reporting - Continued
    -----------------------------
<TABLE>
                                NINE MONTHS ENDED SEPTEMBER 30, 1998
<CAPTION>
                            MULTIFAMILY      COMMERCIAL         TOTAL
                            -----------      ----------         -----
<S>                         <C>               <C>            <C>
   Rental income            $6,741,871        $630,653       $7,372,524
   Other income                 17,106             996           18,102
                             ---------         -------        ---------
   Total net revenues       $6,758,977        $631,649       $7,390,626
                             =========         =======        =========

   Operating expenses        2,575,889         239,197        2,815,086
   Write-off of unamortized
    building improvements       17,582            --             17,582
   Management Fees             337,248          37,323          374,571
   Real Estate Taxes           580,230          24,964          605,194
   Depreciation expense      1,142,013         115,406        1,257,419
                             ---------         -------        ---------
   Net income               $2,106,015        $214,759       $2,320,774
                             =========         =======        =========
</TABLE>
<TABLE>
                                THREE MONTHS ENDED SEPTEMBER 30, 1999
<CAPTION>
                            MULTIFAMILY      COMMERCIAL         TOTAL
                            -----------      ----------         -----
<S>                          <C>              <C>            <C>
   Rental income             $2,153,354       $192,063       $2,345,417
   Other income                   4,253            (21)           4,232
                              ---------        --------       ---------
   Total net revenues        $2,157,607       $192,042       $2,349,649

   Operating expenses           898,167         89,203          987,370
   Write-off of unamortized
    building improvements           842         16,752           17,594
   Management Fees              110,064         13,204          123,268
   Real Estate Taxes            195,037          8,274          203,311
   Depreciation expense         417,518         43,340          460,858
                              ---------        -------        ---------
   Net income                $  535,979       $ 21,269       $  557,248
                              =========        =======        =========
</TABLE>
<TABLE>
                                THREE MONTHS ENDED SEPTEMBER 30, 1998
<CAPTION>
                            MULTIFAMILY      COMMERCIAL         TOTAL
                            -----------      ----------         -----
<S>                         <C>               <C>            <C>
   Rental income            $2,326,009        $211,363       $2,537,372
   Other income                  6,820             333            7,153
                             ---------         -------        ---------
   Total net revenues       $2,332,829        $211,696       $2,544,525
                             =========         =======        =========

   Operating expenses          939,087          89,976        1,029,063
   Write-off of unamortized
    building improvements        4,984            --              4,984
   Management Fees             116,243          12,912          129,155
   Real Estate Taxes           193,091           8,283          201,374
   Depreciation expense        381,999          39,198          421,197
                             ---------         -------        ---------
   Net income               $  697,425        $ 61,327       $  758,752
                             =========         =======        =========
</TABLE>
                                       11

<PAGE>

10.Segment Reporting - Continued
   -----------------------------

   A  reconciliation  of the totals  reported for the operating  segments to the
   applicable line items in the consolidated  financial statements for the three
   months and nine months ended  September 30, 1999 and 1998 is necessary  given
   amounts recorded at the Partnership  level and not allocated to the operating
   properties for internal reporting purposes:
<TABLE>
                                                    Nine Months Ended
                                                      September 30,
                                                      -------------
                                                   1999           1998
                                                   ----           ----
<CAPTION>
   NET REVENUES
   ------------
<S>                                             <C>             <C>
    Total revenues for reportable segments      $ 7,093,034     $ 7,390,626
    Other income at Partnership level                10,687         63,668
    Eliminations                                       --             --
                                                 -----------     -----------
   Total consolidated net revenues              $ 7,103,721     $ 7,454,294
                                                 ===========     ===========
   DEPRECIATION AND AMORTIZATION
   -----------------------------
    Total depreciation and amortization for
     reportable segments                        $ 1,306,024     $ 1,257,419
    Depreciation and amortization Partnership
     level                                           79,512          90,995
    Eliminations                                       --              --
                                                 -----------     -----------
   Total depreciation and amortization          $ 1,385,536     $ 1,348,414
                                                 ===========     ===========
   NET INCOME (LOSS)
   -----------------
    Total net income for reportable segments    $ 1,749,329     $ 2,320,774
    Net (loss) for Partnership                   (1,162,912)       (812,211)
    Eliminations                                   (739,022)     (1,013,502)
                                                 -----------     -----------
   Total net income (loss)                      $  (152,605)    $   495,061
                                                 ===========     ===========
</TABLE>
<TABLE>
                                                    Three Months Ended
                                                      September 30,
                                                      -------------
                                                   1999           1998
                                                   ----           ----
<CAPTION>
   NET REVENUES
   ------------
<S>                                              <C>            <C>
    Total revenues for reportable segments       $ 2,349,649    $ 2,544,525
    Other income at Partnership level                  5,560         13,081
    Eliminations                                        --             --
                                                  -----------    -----------
   Total consolidated net revenues               $ 2,355,209    $ 2,557,606
                                                  ===========    ===========
   DEPRECIATION AND AMORTIZATION
   -----------------------------
    Total depreciation and amortization for
     reportable segments                         $   460,858    $   421,197
    Depreciation and amortization Partnership
     level                                            15,922         30,618
    Eliminations                                        --             --
                                                  -----------    -----------
   Total depreciation and amortization           $   476,780    $   451,815
                                                  ===========    ===========
   NET INCOME (LOSS)
   -----------------
    Total net income for reportable segments     $   557,248    $   758,752
    Net (loss) for Partnership                      (391,524)      (335,092)
    Eliminations                                    (242,587)      (294,176)
                                                  -----------    -----------
   Total net income (loss)                       $   (76,863)   $   129,484
                                                  ===========    ===========
</TABLE>
                                       12

<PAGE>

11.Subsequent Events
   -----------------

   On October 22, 1999, a second building (out of a total of thirteen buildings)
   of the Park Place Apartments  Phase III construction  project was turned over
   to be  leased.  This  building  contained  14  units,  bringing  total  units
   available for leasing to 28.

   On October 28,  1999,  the  Partnership  obtained a $500,000  increase to the
   availability of the mortgage  payable with a current  outstanding  balance of
   $1,757,808,  bringing  the total  availability  of the  mortgage  payable  to
   $2,500,000.  The interest  rate and maturity  date will remain the same.  The
   increase in proceeds will be used to fund a portion of the construction costs
   of Park Place Apartments Phase III.

   On November 9, 1999,  the  Partnership  and ORIG,  LLC, an  affiliate  of the
   Partnership,  (the  "bidders")  commenced  a third  tender  offer (the "Third
   Tender Offer") to purchase up to 500 of the Partnership's limited partnership
   Units at a price of $380 per Unit as of the date of the Third  Tender  Offer.
   Approximately  $218,000  ($190,000 to purchase 500 Units, plus  approximately
   $28,000 for expenses  associated  with the Third Tender Offer) is required to
   purchase all 500 Units.  The Third  Tender Offer stated that the  Partnership
   will purchase the first 250 Units tendered and will fund its purchase and its
   portion  of the  expenses  from  cash  reserves.  If more  than 250 Units are
   tendered,  ORIG,  LLC, will purchase up to an additional  250 Units.  If more
   than 500 Units are tendered, the bidders may choose to acquire the additional
   Units on a pro rata basis. Units that are acquired by the Partnership will be
   retired.  Units  that are  acquired  by ORIG,  LLC,  will be held by it.  The
   General Partner, NTS-Properties Associates VI, does not intend to participate
   in the Third Tender Offer. The Third Tender Offer will expire on December 23,
   1999 unless extended.

                                       13

<PAGE>

Item  2. Management's Discussion and Analysis of Financial Condition and Results
         -----------------------------------------------------------------------
         of Operations
         -------------

Management's  Discussion  and  Analysis of  Financial  Condition  and Results of
Operations  ("MD&A") is  structured  in four major  sections.  The first section
provides  information  related to  occupancy  levels and rental and other income
generated  by the  Partnership's  properties.  The  second  analyzes  results of
operations on a consolidated basis. The final sections address consolidated cash
flows and financial condition.  Discussions of certain market risks also follow.
MD&A should be read in conjunction  with the financial  statements in Item 1 and
the cautionary statements below.

Cautionary Statements
---------------------

Some  of  the   statements   included  in  Item  2  may  be   considered  to  be
"forward-looking  statements" since such statements relate to matters which have
not yet occurred.  For example,  phrases such as the Partnership  "anticipates,"
"believes"  or   "expects,"   indicate  that  it  is  possible  that  the  event
anticipated,  believed or expected  may not occur.  Should such event not occur,
then the result which the Partnership  expected also may not occur or occur in a
different  manner,  which may be more or less favorable to the Partnership.  The
Partnership does not undertake any obligations to publicly release the result of
any revisions to these  forward-looking  statements  that may be made to reflect
any future events or circumstances.

Any  forward-looking  statements  included in MD&A, or elsewhere in this report,
which reflect  management's best judgment based on factors known,  involve risks
and uncertainties. Actual results could differ materially from those anticipated
in any forward-looking  statements as a result of a number of factors, including
but  not  limited  to  that  which  is  discussed  below.  Any   forward-looking
information  provided by the Partnership pursuant to the safe harbor established
by recent  securities  legislation  should be  evaluated in the context of these
factors.

The  Partnership's  principal  activity  is  the  leasing  and  management  of a
commercial office building and apartment complexes. If a major commercial tenant
or a large number of apartment lessees default on their lease, the Partnership's
ability to make  payments  due under its debt  agreements,  payment of operating
costs and other  partnership  expenses  would be directly  impacted.  A lessee's
ability to make  payments are subject to risks  generally  associated  with real
estate,  many of which are beyond  the  control  of the  Partnership,  including
general or local economic conditions,  competition,  interest rates, real estate
tax rates, or other operating expenses and acts of God.

                                       14

<PAGE>

Results of Operations
---------------------

The occupancy levels at the Partnership's  properties as of September 30 were as
follows:

                                                    1999      1998
                                                    ----      ----
   Wholly-Owned Properties
   -----------------------
   Sabal Park Apartments (1)                         93%       98%

   Park Place Apartments Phase I                     93%       82%

   Willow Lake Apartments (1)                        78%       96%

   Properties Owned in Joint Venture
   ---------------------------------
   With NTS-Properties IV (Ownership % at
   --------------------------------------
   September 30, 1999)
   -------------------
   Golf Brook Apartments (96%)(1)                    93%       96%

   Plainview Point III Office Center (95%)(1)        91%      100%

(1)  In the opinion of the General Partner of the  Partnership,  the decrease in
     occupancy  is  only a  temporary  fluctuation  and  does  not  represent  a
     permanent downward occupancy trend.

The  average  occupancy  levels at the  Partnership's  properties  for the three
months and nine months ended September 30, 1999 and 1998 were as follows:


                                             Three Months      Nine Months
                                                Ended             Ended
                                             September 30,    September 30,
                                             -------------    -------------
                                             1999    1998    1999     1998
                                             ----    ----    ----     ----
   Wholly-owned Properties
   -----------------------

   Sabal Park Apartments (1)                 94%     97%      96%     95%

   Park Place Apartments Phase I             92%     82%      88%     86%

   Willow Lake Apartments (1)                78%     96%      78%     96%

   Property owned in Joint Venture with
   ------------------------------------
   NTS-Properties IV (Ownership % at
   ---------------------------------
   September 30, 1999
   ------------------

   Golf Brook Apartments (96%)(1)            92%     96%      93%     96%

   Plainview Point III Office Center(9%%)(1) 91%    100%      91%     97%

(1)In the opinion of the General  Partner of the  Partnership,  the  decrease in
   average  occupancy for the three months ended September 30 and/or nine months
   ended  September 30 is only a temporary  fluctuation and does not represent a
   permanent downward occupancy trend.

                                       15
<PAGE>

Results of Operations - Continued
---------------------------------

Rental and other income generated by the Partnership's  properties for the three
months and nine months ended September 30, 1999 and 1998 was as follows:

                          Three Months Ended         Nine Months Ended
                             September 30,              September 30,
                             -------------              -------------
                            1999         1998        1999         1998
                            ----         ----        ----         ----
   Wholly-Owned Properties
   -----------------------
   Sabal Park Apartments    $488,668    $465,484    $1,420,452   $1,356,606

   Park Place Apartments    $489,414    $457,245    $1,389,456   $1,356,448
    Phase I

   Willow Lake Apartments   $477,091    $656,472    $1,568,551   $1,838,443

   Properties Owned in
   -------------------
   Joint Venture with
   ------------------
   NTS-Properties IV
   -----------------
   (Ownership % at
   ---------------
   September 30, 1999)
   -------------------
   Golf Brook Apartments(96%)$700,763    $753,628    $2,154,227   $2,207,481

   Plainview Point III
   Office Center (95%)       $192,042    $211,696    $  558,679   $  631,650


Revenues shown in the table above for  properties  owned through a joint venture
represent only the Partnership's percentage interest in those revenues.

The following is an analysis of material  changes in results of  operations  for
the  periods  ending  September  30,  1999 and 1998.  Items  that did not have a
material  impact on operations for the periods listed above have been eliminated
from this discussion.

Rental income  decreased  approximately  $192,000 or 7.6% and $298,500 or 4% for
the three months and nine months ended  September  30,  1999,  respectively,  as
compared  to the same  periods  in 1998.  The  decrease  in  rental  income  was
primarily a result of decreased  average  occupancy  at Willow Lake  Apartments,
Plainview Point III Office Center and Golf Brook Apartments and decreased common
area  expense  reimbursements  at  Plainview  Point  III  Office  Center.  These
decreases  are  partially  offset  by  increased  rental  rates  at  Sabal  Park
Apartments, Park Place Apartments Phase I and Willow Lake Apartments.

Year-ending  occupancy  percentages represent occupancy only on a specific date;
therefore,  the above analysis considers average occupancy  percentages that are
representative of the entire year's results.

                                       16

<PAGE>

Results of Operations - Continued
---------------------------------

Interest and other income includes  interest income from investments made by the
Partnership with cash reserves.  Interest income decreased approximately $10,500
or 52% and $52,100 or 64% for the three months and nine months  ended  September
30, 1999,  respectively,  as compared to the same periods in 1998.  The decrease
was a result of the  Partnership  having  no  security  investment  transactions
during the three months and nine months ended September 30, 1999; therefore,  no
interest on investments was earned.

Operating  expenses  decreased  approximately  $58,800 or 3% for the nine months
ended September 30, 1999 as compared to the same period in 1998 primarily due to
the following:  1) decreased floor covering,  garage repairs and roof repairs at
Golf Brook Apartments,  2) decreased  landscaping and interior painting and wall
covering at Park Place Apartments Phase I and 3) decreased  advertising expenses
at Sabal Park Apartments,  Golf Brook Apartments and Park Place Apartments Phase
I. These  decreases are partially  offset by 1) increased floor covering at Park
Place Apartments  Phase I, Sabal Park Apartments and Willow Lake Apartments,  2)
increased landscaping at Sabal Park Apartments, Golf Brook Apartments and Willow
Lake Apartments and 3) increased  parking lot expenses at Sabal Park Apartments,
Golf Brook  Apartments and Park Place  apartments  Phase I.  Operating  expenses
decreased approximately $46,900 or 6.5% for the three months ended September 30,
1999 as compared to the same period in 1998 primarily due to the  following:  1)
decreased floor  covering,  wood  replacements  and garage repairs at Golf Brook
Apartments,  2) decreased  interior  painting  and wall  covering at Willow Lake
Apartments and Golf Brook  Apartments and 3) decreased  advertising  expenses at
Golf Brook  Apartments  and Sabal Park  Apartments.  The  decrease is  partially
offset  by 1)  increased  landscaping  at Willow  Lake  Apartments,  Golf  Brook
Apartments and Sabal Park Apartments, 2) increased floor covering at Willow Lake
Apartments  and Park  Place  Apartments  Phase I and 3)  increased  parking  lot
repairs and heating and air conditioning repairs at Golf Brook Apartments.

Operating expenses - affiliated increased approximately $5,200 or 2% and $51,500
or 5.6%  for the  three  months  and  nine  months  ended  September  30,  1999,
respectively,  compared  to the same  periods in 1998  primarily  as a result of
increased  administrative  salary costs,  property  management salary costs, and
leasing salary costs.  Operating expenses - affiliated are expenses incurred for
services by employees of NTS  Development  Company,  an affiliate of the General
Partner of the Partnership.

The 1999  write-off  of  unamortized  land  improvements  and  amenities  can be
attributed  to  Sabal  Park  Apartments,  Golf  Brook  Apartments,  Willow  Lake
Apartments  and  Plainview  Point  III  Office  Center.  The 1998  write-off  of
unamortized  land  improvements  and  amenities  can be attributed to Park Place
Apartments   Phase  I.  The  write-offs  are  the  result  of  various  property
renovations,  including  painting and the  replacement of exterior wood at Sabal
Park and Golf Brook  Apartments,  roof replacement at Willow Lake Apartments and
carpet replacement at Plainview Point III Office Center in 1999, and signage and
deck  renovations  at Park  Place  Apartments  Phase I in 1998.  The  write-offs
represent the cost of unamortized assets, which were replaced as a result of the
renovations.

Interest  expense  decreased  approximately  $13,900 or 1% for nine months ended
September  30,  1999,  as compared to the same period in 1998 as a result of the
Partnership's  decreasing debt level as a result of principal payments made. The
decrease is partially offset by interest paid on the loan obtained at the end of

                                       17

<PAGE>

Results of Operations - Continued
---------------------------------

1998 for the water  meter  project  at Golf  Brook  Apartments  and  Sabal  Park
Apartments  and interest paid on a temporary  loan obtained by the  Partnership,
secured by Plainview  Point III Office  Center,  which was replaced by permanent
financing  on June  23,  1999.  See  Note 5  Mortgages  Payable  for  additional
information  regarding  the  permanent  financing.  Interest  expense  increased
approximately  $9,700 or 2% for the three  months  ended  September  30, 1999 as
compared  to the same period in 1998,  as a result of interest  paid on the loan
obtained at the end of 1998 for the water meter project at Golf Brook Apartments
and Sabal Park Apartments and interest paid on a new mortgage  payable  obtained
on June 23,  1999,  secured by  Plainview  Point III Office  Center  (See Note 5
Mortgages Payable for additional information regarding permanent financing). The
increase is partially  offset by decreased  interest  paid on the  Partnership's
remaining  mortgage  payables due to their  decreasing debt level as a result of
principal payments.  Interest expense of approximately  $170,000 incurred on the
Park Place  Apartments Phase I and II loan due to the construction of Park Place
Apartments Phase III has been capitalized.

Professional and administrative  expenses increased  approximately  $2,500 or 4%
and $69,100 or 55% for the three  months and nine  months  ended  September  30,
1999,  respectively,  as compared  to the same  periods in 1998  primarily  as a
result of the following:  1) increased general legal services, 2) costs incurred
in connection with the Tender Offers  discussed  below and 3) increased  outside
accounting fees.

Professional and administrative  expenses - affiliated  decreased  approximately
$100 or .2% and  $20,600  or 10% for the  three  months  and nine  months  ended
September  30,  1999,  respectively,  as  compared  to the same  periods in 1998
primarily as a result of decreased  finance and  accounting  salary costs due to
staff  turnover.  Professional  and  administrative  expenses -  affiliated  are
expenses  incurred  for  services  performed  by  employees  of NTS  Development
Company,  an affiliate of the General Partner of the  Partnership,  on behalf of
the Partnership.

Depreciation is computed using the straight-line method over the useful lives of
the assets which are 5-30 years for land  improvements,  30 years for buildings,
5-30 years for building improvements and 5-30 years for amenities. The aggregate
cost for the  Partnership's  properties for Federal tax purpose is approximately
$62,225,000.

Liquidity and Capital Resources
-------------------------------

Cash flows provided by (used in) during the nine months ended September 30:


                                       1999           1998
                                       ----           ----

Operating activities               $ 2,117,871    $  2,251,948

Investing activities                (5,973,868)        239,728

Financing activities                 3,830,020      (1,788,915)
                                    -----------     -----------
Net increase (decrease) in cash
 and Equivalents                   $   (25,977)   $    702,761
                                    ===========     ===========

                                       18
<PAGE>

Liquidity and Capital Resources - Continued
-------------------------------------------

Net cash provided by operating activities decreased approximately $134,100 or 6%
for the nine months ended  September  30, 1999 as compared to the same period in
1998.  The decrease in net cash provided by operating  activities  was primarily
driven by lower net operating  results due to lower net revenues and  investment
income, offset by changes in working capital items.

Net cash (used in) provided by investing  activities  totaled  $(5,973,868)  and
$239,728 for the nine months ended  September  30, 1999 and 1998,  respectively.
The decrease is primarily a result of increased capital expenditures,  primarily
at Park Place  Apartments  Phase III, and a result of the Partnership  having no
security  investment  transactions  during the nine months ended  September  30,
1999.

Net cash  provided by (used in)  financing  activities  totaled  $3,830,020  and
$(1,788,915)   for  the  nine  months  ended   September   30,  1999  and  1998,
respectively.  The increase is primarily a result of proceeds from draws made on
the Park Place  Apartments  Phase I and III loan,  from a new  mortgage  loan on
Plainview  Point Phase III Office Center,  decreased  distributions  to partners
(see below),  and decreased  repurchases  of limited  partnership  Units.  These
changes  were  offset  somewhat by  increased  principal  payments on  mortgages
payable.

The  Partnership  used cash flow from  operations  and cash on hand to make a 1%
(annualized)  distribution of $301,810 and a 1.5% (annualized) cash distribution
of $418,047 for the nine months ended September 30, 1999 and 1998, respectively.
Cash distributions were reduced from 2% to 1% per quarter,  effective  September
30, 1998, as a result of capital  improvements at the  Partnership's  properties
including the  construction of Park Place  Apartments  Phase III. The annualized
distribution   rate  is  calculated  as  a  percent  of  the  original   capital
contribution. The limited partners received 99% and the General Partner received
1%  of  these  distributions.   The  primary  source  of  future  liquidity  and
distributions is expected to be derived from cash generated by the Partnership's
properties  after the  construction of Park Place Apartments Phase III and other
capital  improvements  are funded and adequate cash reserves are established for
future  leasing and tenant finish costs.  It is  anticipated  that the cash flow
from  operations,  cash  reserves  and  the  remaining  funds  available  on the
$12,200,000  mortgage payable (balance is $9,761,891 at September 30, 1999) will
be sufficient to meet the needs of the  Partnership.  Cash  reserves,  which are
unrestricted  cash and  equivalents  and  investment  securities as shown on the
Partnership's balance sheet, were $336,845 at September 30, 1999.

The  Partnership  does not expect any  material  changes in the mix and relative
cost of capital resources from those in 1998 except for the construction of Park
Place Apartments Phase III, as discussed below.

                                       19

<PAGE>

Liquidity and Capital Resources - Continued
-------------------------------------------

The table below  presents  that portion of the  distributions  that  represent a
return of capital on a Generally  Accepted  Accounting  Principle  basis for the
nine months ended September 30, 1999 and 1998. These  distributions  were funded
by cash flow derived from operating activities.


                       Net Income          Cash
                         (Loss)       Distributions       Return of
                       Allocated         Declared          Capital
                       ---------         --------          -------
   Limited Partners:
         1999           $ (151,079)     $  298,792        $  298,792
         1998           $  490,110      $  413,867        $     --

   General Partner:
         1999           $   (1,526)     $    3,018        $    3,018
         1998           $    4,951      $    4,180        $     --

The  demand on  future  liquidity  has  increased  as a result  of  construction
beginning at Park Place  Apartments  Phase III (152 units) during 1998 on the 15
acres of land the Partnership  owns which is adjacent to the existing Park Place
Apartments in Lexington,  Kentucky.  It is currently  estimated that the cost of
the project  will be  $9,500,000.  Through  September  30,  1999,  approximately
$7,548,000  of cost had been  incurred.  Construction  costs  will be  funded by
$7,200,000  of loan  proceeds  and cash  reserves.  As of  September  30,  1999,
$2,438,109 is available on the mortgage payable for construction costs.

On September 8, 1999,  one building out of the Park Place  Apartments  Phase III
construction project was turned over for leasing. The building contains 14 units
of which one unit was  leased as of  September  30,  1999.  As a result of units
being turned  over,  approximately  9% (14 units  divided by 152 units total) or
$875,000 of the total estimated  construction costs of $9,500,000 has been moved
from construction in progress to land, buildings and amenities, net.

Construction  in progress on the  September  30, 1999  Balance  Sheet  primarily
relates to Park Place Apartments Phase III.  Approximately  $22,900 of the total
construction  in  progress  costs  is  related  to  tenant  finish  costs at the
Plainview Point III Office Center.

In the next 12 months,  the demand on future  liquidity is also  anticipated  to
increase as the  Partnership  continues  its efforts in the leasing of Plainview
Point III Office  Center.  At this time,  the future  leasing and tenant  finish
costs,  which will be required to renew the  current  leases that expire  during
1999 or obtain new tenants, are unknown.

The Partnership  also plans to renovate the community  clubhouses at Park Place,
Golf Brook and Sabal  Park  Apartments  during  1999 and 2000.  It is  currently
estimated the aggregate  cost for all three  renovations  will be  approximately
$630,000.  The Partnership plans to fund the renovations with financing obtained
on June 23, 1999 in the amount of $2,000,000  that is secured by Plainview Point
III Office Center.  The remaining proceeds will be used to fund a portion of the
tenant finish costs at Plainview Point III Office Center as well as a portion of
the  construction  costs of Park Place Apartments Phase III. The Partnership had
no other  material  commitments  for  renovations  or  capital  expenditures  at
September 30, 1999.

                                       20

<PAGE>

Liquidity and Capital Resources - Continued
-------------------------------------------

Pursuant to Section 16.4 of the Partnership's  Amended and Restated Agreement of
Limited Partnership,  the Partnership established an Interest Repurchase Reserve
in December  1995.  As of October 25, 1998 (the  commencement  date of the First
Tender  Offer),  the  Partnership  has  repurchased  a total of 6,846  Units for
$1,861,200  at a price  ranging  from  $250  to  $350  per  Unit.  The  Interest
Repurchase  Reserve was funded from cash reserves.  The above offering price per
Unit was  established by the General Partner in its sole discretion and does not
purport to represent  the fair market or  liquidation  value of the Unit at that
date.  Repurchased  Units have been retired by the Partnership,  thus increasing
the percentage of ownership of each remaining limited partnership investor.  The
funds remaining in the Interest  Repurchase  Reserve at the  commencement of the
First  Tender Offer dated  October 25,  1998(discussed  below) were  returned to
unrestricted cash for utilization in the Partnership's operations.

On October  25,  1998,  the  Partnership  and ORIG,  LLC,  an  affiliate  of the
Partnership, (the "bidders") commenced a tender offer (the "First Tender Offer")
to  purchase up to 1,250 of the  Partnership's  limited  partnership  Units at a
price of $350 per Unit.  The initial  expiration  date of the First Tender Offer
was January 18, 1999, and this expiration date was subsequently extended through
March 31,  1999. A total of 2,103 Units were  tendered and the bidders  accepted
all Units  tendered.  The  Partnership  repurchased  750  Units  and  ORIG,  LLC
purchased  1,353 Units at a total cost of $788,050  ($736,050 to purchase  2,103
Units plus approximately  $52,000 for expenses  associated with the First Tender
Offer).

On  June  25,  1999,  the  Partnership  and  ORIG,  LLC,  an  affiliate  of  the
Partnership, (the "bidders") commenced a second tender offer (the "Second Tender
Offer") to purchase up to 1,000 of the Partnership's  limited  partnership Units
at a price  of $350  per Unit as of the date of the  Second  Tender  Offer.  The
initial  expiration  date of the Second  Tender  Offer was August 31,  1999.  On
August 23, 1999,  the price was  increased  to $370 per Unit and the  expiration
date was extended to September 30, 1999.

As of September 30, 1999, a total of 2,801 Units were  tendered  pursuant to the
Second Tender Offer and the bidders accepted all Units tendered. The Partnership
purchased 500 Units at a cost of $185,000 and ORIG, LLC purchased 2,301 Units at
a cost of $851,370. The expenses associated with administering the Second Tender
Offer are  estimated  to be $25,000 (See Note 11  Subsequent  Events for further
information regarding the tender offers).

In an effort to continue to improve occupancy at the  Partnership's  residential
properties,  the  Partnership  has an on-site  leasing  staff,  employees of NTS
Development Company, at each of the apartment communities. The staff handles all
on-site visits from potential  tenants,  coordinates  local advertising with NTS
Development  Company's  marketing  staff,  makes  visits to local  companies  to
promote  fully  furnished  units and  negotiates  lease  renewals  with  current
residents.

The leasing and renewal  negotiations for the Partnership's  commercial property
are handled by leasing agents,  employees of NTS Development Company, located in
Louisville,  Kentucky.  The leasing  agent's are located in the same city as the
commercial property.  All advertising for the commercial property is coordinated
by NTS Development Company's marketing staff located in Louisville, Kentucky.

                                       21

<PAGE>

Liquidity and Capital Resources - Continued
-------------------------------------------

Leases at Plainview  Point III Office  Center  provide for tenants to contribute
toward the payment of increases in common area maintenance expenses,  insurance,
utilities  and real estate  taxes.  Leases at the office center also provide for
rent  increases,  which are based upon  increases in the  consumer  price index.
These  lease  provisions,  along  with  the fact  that  residential  leases  are
generally for a period of one year, should protect the Partnership's  operations
from the impact of inflation and changing prices.

Year 2000
---------

All  divisions of NTS  Corporation,  including  NTS-Properties  Associates,  the
General  Partner of the  Partnership,  are  reviewing  the effort  necessary  to
prepare  NTS'  information  systems  (IT) and  non-information  technology  with
embedded technology (ET) for the Year 2000. The information technology solutions
have been addressed  separately for the Year 2000 since the  Partnership saw the
need to move to more advanced  management and accounting  systems made available
by new technology and software developments during the decade of the 1990's.

The PILOT software system, purchased in the early 1990's, is being replaced by a
Windows  based  network  system both for NTS'  headquarters  functions and other
locations.  The real estate accounting system developed,  sold, and supported by
the Yardi Company of Santa  Barbara,  California is replacing  PILOT.  The Yardi
system has been tested and is compatible with Year 2000 and beyond.  This system
is being  implemented  with the help of third  party  consultants  and should be
fully   operational   during  the  fourth  quarter  of  1999.  NTS'  system  for
multi-family  apartment  locations  was  converted  to GEAC's  Power Site System
earlier in 1998 and is Year 2000 compliant.

The few remaining  systems not addressed by these conversions are being modified
by NTS' in-house staff of programmers. The Hewlett Packard 3000 system, used for
PILOT and  custom  applications,  was  purchased  in 1997 and is part of the new
network.  It will be retained as long as necessary to assure  smooth  operations
and was upgraded to meet Year 2000 requirements.

All risks identified with information technology are believed to be addressed by
these plans.

The costs of these advances in the systems  technology are not all  attributable
to the Year 2000 issue since the NTS had already  identified the need to move to
a network based system regardless of the Year 2000. The  Partnership's  share of
the costs involved was approximately $30,000 during 1999. Costs incurred through
December  31, 1998 were  approximately  $9,000.  These costs  include  primarily
purchase, lease and maintenance of hardware and software.

NTS  property  management  staff has been  surveying  its  vendors  to  evaluate
embedded technology in its alarm systems,  HVAC controls,  telephone systems and
other  computer  associated  facilities.  In a few  cases,  equipment  is  being
replaced. In some cases, circuitry is being upgraded. The cost involved is still
being evaluated. There are no known significant risks that are currently without
solutions.  Management  anticipates that applications  involving ET will be Year
2000 compliant by the fourth quarter of 1999.

NTS is also currently  addressing the Year 2000 readiness of third parties whose
business  interruption  could have a material  negative impact on business.  All
significant  vendors and tenants have  indicated  that they will be compliant by
the end of 1999. Such assurances are being evaluated and documented.

                                       22

<PAGE>

Year 2000 - Continued
---------------------

Management has determined that at its current state of readiness,  the need does
not presently  exist for a contingency  plan.  NTS will continue to evaluate the
need for such a plan.

Despite diligent preparation,  unanticipated third-party failures,  inability of
tenants to pay rent when due,  more general  public  infrastructure  failures or
failure to successfully  conclude NTS' remediation efforts as planned could have
a material  adverse  impact on the results of operations,  financial  conditions
and/or cash flows in 1999 and beyond.

Item 3. Quantitative and Qualitative Disclosures About Market Risk
        ----------------------------------------------------------

The  Partnership's  primary  market  risk  exposure  with  regards to  financial
instruments is changes in interest rates.  All of the  Partnership's  debt bears
interest at a fixed rate with the exception of the $1,757,808  note payable that
bears  interest at the  Euro-Rate  plus 225 basis  points and the  $65,625  note
payable  that bears  interest at the Prime Rate +1%. At  September  30,  1999, a
hypothetical  100  basis  point  increase  in  interest  rates  would  result in
approximately   $18,200   additional   interest  expense  and  an  approximately
$1,263,000 decrease in the fair value of debt.

                                       23

<PAGE>

PART II.  OTHER INFORMATION

Item  3.   Defaults  upon  Senior Securities
           ---------------------------------

           None

Item 5.    Other Information
           -----------------

           Mr. Richard L. Good, who was the Vice Chairman and  former  President
           of NTS Capital Corporation  and  NTS   Development  Company,  retired
           effective September  3, 1999.

Item 6.    Exhibits and Reports on Form 8-K
           --------------------------------

           (a) Exhibits

               Exhibit 27. Financial Data Schedule

           (b) Reports on Form 8-K

               There  were no reports on Form 8-K for  the  three  months  ended
               September 30, 1999.

Items 1,2 and 4 are not applicable and have been omitted.

                                       24

<PAGE>

                                   SIGNATURES
                                   ----------


Pursuant to the  requirements of Section 13 or 15(d) 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 VI, a Maryland Limited Partnership
                            -------------------------------------------------
                                             (Registrant)


                               By:   NTS-Properties Associates VI,
                                     General Partner
                                     By: NTS Capital Corporation,
                                         General Partner

                                    /s/ Gregory A. Wells
                                    --------------------
                                    Gregory A. Wells
                                    Senior Vice President of
                                    NTS Capital Corporation

Date: November 15, 1999

                                       25

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