Optibase to Purchase of Condominium Units in Miami Beach, FL for $8.8M

Optibase

today announced that its board of directors approved the purchase by its wholly owned subsidiaries Optibase FMC LLC and Optibase Real Estate Miami LLC, of twelve luxury condominium units located in Miami Beach, Florida (the "Units") as well as the leasing of one of the Units to one of the sellers for a 36-month period. The sellers of the Units are subsidiaries of The Capri Family Foundation, the Company's controlling shareholder. The units are located on the Flamingo-South Beach One Condominium and the North Tower of the Continuum on South Beach Condominium, Miami Beach, Florida. At the closing of the