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


HERZLIYA, Israel--(BUSINESS WIRE)--Optibase Ltd. (NASDAQ: OBAS) announced the successful closing of the transaction to purchase twelve luxury condominium units located in Miami Beach, Florida. 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 in July 2010. For further information, please visit www.optibase-holdings.com.

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