Optibase Ltd. (NASDAQ: OBAS) (the Company or Optibase ) announces that further to its report dated September 23, 2019, on May 3, 2021, the plaintiffs withdrew their appeal filed against the District Court s decision to deny a motion to approve a derivative claim, which withdrawal was approved by the Israeli Supreme Court.
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.
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HERZLIYA, Israel, April 28, 2021 /PRNewswire/
Optibase Ltd. (NASDAQ: OBAS) today announced financial results for the fourth quarter ended December 31, 2020.
Revenues from fixed income real estate totaled $3.4 million for the quarter ended December 31, 2020 compared to revenues of $4 million for the fourth quarter of 2019.
Net loss attributable to Optibase Ltd shareholders for the quarter ended December 31, 2020 was $625,000 or $0.12 per basic and diluted share compared to net loss of $1.1 million or $0.21 per basic and diluted share for the fourth quarter of 2019.
For the year ended December 31, 2020 revenues totaled $14.9 million compared to revenues of $16.1 million for the year ended December 31, 2019. Net income attributable to Optibase Ltd Shareholders for the year ended December 31, 2020 was $6.4 or $1.24 per basic and diluted share, compared to a net loss of $2 million or $0.38 per basic and diluted share for the year ended December 31, 2019
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HERZLIYA, Israel, April 28, 2021 /PRNewswire/
Optibase Ltd. (NASDAQ: OBAS), the Company or Optibase, is pleased to announce that CROWN TWO PENN CENTER ASSOCIATES LIMITED PARTNERSHIP, a Pennsylvania limited partnership which is 22.16% indirectly owned by the Company recently refinanced a commercial office building in Philadelphia, known as Two Penn Center Plaza (the Property ).
Under the refinancing, the existing loan on the Property with an outstanding principal balance of approximately $44 million, was replaced with a new loan with a principal amount of $67.9 million. As a result of the refinancing, CROWN TWO PENN CENTER ASSOCIATES LIMITED PARTNERSHIP generated excess cash, of which our share is approximately $5 million. Optibase was informed that CROWN TWO PENN CENTER ASSOCIATES LIMITED PARTNERSHIP will make a distribution of $2 million out of the said $5 million in the upcoming weeks.