HERZLIYA, Israel, March 15,
2022 /PRNewswire/ -- Optibase Ltd. (NASDAQ:
OBAS) (the "Company" or "Optibase"), today announced that
between November 2021 and
March 2022, the Company sold three
apartments and two penthouses in Miami,
Florida for a total consideration of approximately U.S.
$8 million. The consideration
reflects an average price per square feet of U.S. $460 for the apartments and an average price per
square feet of U.S. $990 for the
penthouses. Following the last sale of the penthouse held on
March 9, 2022, the Company fully
repaid the loan granted as part of a financing agreement of the
condominium units in Miami.
The Company expects to record a combined gain on sale of
operating properties in the Company's financial statements for the
fourth quarter of 2021 and the first quarter of 2022 as a result of
these sales in the amount of approximately U.S. $1.6 million.
About Optibase
Optibase invests in the fixed-income real estate field and
currently holds interests in real estate properties in Switzerland, Texas, Philadelphia,
PA, Miami, FL, and in
Chicago, IL, USA and is currently
looking for additional real estate investment opportunities.
Optibase was previously engaged in the field of digital video
technologies until the sale of its video solutions business to
Optibase Technologies Ltd., a wholly owned subsidiary of VITEC
Multimedia in July 2010. For further
information, please visit www.optibase-holdings.com.
This press release contains forward-looking statements
concerning our marketing and operations plans. All statements
other than statements of historical fact are statements that could
be deemed forward-looking statements. All forward-looking
statements in this press release are made based on management's
current expectations which involve risks, uncertainties and other
factors that could cause results to differ materially from those
expressed in forward-looking statements. These statements involve a
number of risks and uncertainties including, but not limited to,
difficulties in finding suitable real-estate properties for
investment, availability of financing for the acquisition of
real-estate, difficulties in leasing of real-estate properties,
insolvency of tenants, difficulties in the disposition of
real-estate projects, risk relating to collaborative arrangements
with our partners relating to our real-estate properties, risks
relating to the full consummation of the transaction for the sale
of our video solutions business, general economic conditions and
other risk factors. For a more detailed discussion of these
and other risks that may cause actual results to differ from the
forward looking statements in this press release, please refer to
Optibase's most recent annual report on Form 20-F. The Company
does not undertake any obligation to update forward-looking
statements made herein.
Media Contacts:
Amir Philips, CEO, Optibase Ltd.
011-972-73-7073-700
info@optibase-holdings.com
Investor Relations Contact:
Marybeth Csaby, for Optibase
+1- 917-664-3055
Marybeth.Csaby@gmail.com
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content:https://www.prnewswire.com/news-releases/optibase-ltd-annouces-sale-of-apartments-and-penthouses-in-miami-florida-and-full-repayment-of-a-loan-301503076.html
SOURCE Optibase Ltd.