Apply effects to specific frequencies

Some people use the ​Edit > Frequency Band Splitter​ command to split up the file in different frequencies, then process those bands in parallel.

You haven't said in which mode (waveform or multitrack) you want to do this, but the basic procedure is the same in both - you set up an effects chain where the first item is something like the parametric EQ, and filter out the low frequencies according to taste. Then put the reverb as the second item in the chain. It's input is from the EQ, so it will only affect what you've selected in it.

The other approach, which is more direct, is to use Studio Reverb, where you can apply low frequency cut directly. The only snag with this is that it doesn't give you precise control over the level, and that's where the chain scores points - it will let you 'shape' the feed to the reverb, and that's why it's a more flexible approach.