Optibase Ltd. Announces Closing of a Transaction to Purchase Condominium Units in Miami Beach, FL, USA

  Optibase Ltd. Announces Closing of a Transaction to Purchase Condominium
  Units in Miami Beach, FL, USA

Business Wire

HERZLIYA, Israel -- January 2, 2014

Optibase Ltd. (NASDAQ: OBAS) (the ”Company“ or ”Optibase“) today announced the
successful closing of the transaction to purchase twelve luxury condominium
units (the “Units”) located in Miami Beach, Florida (the “Transaction”). The
Transaction was approved by the Company’s shareholders at its annual general
meeting, held on December 19, 2013. For additional details on the Transaction
please see the Company's proxy statement filed with the Securities and
Exchange Commission on Form 6-K, as well as the Company’s previous
announcement on the Transaction dated November 12, 2013.

Accordingly, as consideration for the purchase of the Units, Optibase has
issued to The Capri Family Foundation, the Company’s controlling shareholder,
approximately 1.31 million ordinary shares of the Company.

About Optibase

Optibase invests in the fixed-income real estate field and currently holds
properties in Switzerland and in Miami, Texas and Philadelphia, 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 (“Vitec“) 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 news 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.

Contact:

Media Contact:
Optibase Ltd.
Amir Philips, CEO
011-972-73-7073-700
info@optibase-holdings.com
or
Investor Relations Contact:
for Optibase
Marybeth Csaby
+1-917-664-3055
Marybeth.Csaby@gmail.com
 
Press spacebar to pause and continue. Press esc to stop.