Optibase announces sale of apartments and penthouses in Florida for $8M

Mar. 15, 2022 3:20 PM ETOptibase Ltd. (OBAS)By: Khyathi Dalal, SA News Editor
  • Optibase (NASDAQ:OBAS) announced that between November 2021 and March 2022, it sold three apartments and two penthouses in Miami, Florida for a total consideration of ~$8M.
  • The consideration reflects an average price per square feet of $460 for the apartments and an average price per square feet of $990 for the penthouses.
  • Post the last sale of the penthouse held on Mar. 9, 2022, the company fully repaid the loan granted as part of a financing agreement of the condominium units in Miami.
  • A combined gain of ~$1.6M on sale of operating properties is expected to be recorded in 4Q21 and 1Q22 financial statements.

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