Optibase Ltd. Reports Earnings Results for the First Quarter Ended March 31, 2020

Optibase Ltd. is a real estate company. The Company, through its subsidiaries, is engaged in purchasing and operating of real estate properties for leasing and resale primarily for the purpose of commercial, industrial, office space use, as well as for residential purposes. The Company owns holdings in several commercial real estate properties, which are leased to third parties.It also owns several real estate properties located in Philadelphia, Texas, Chicago and Miami, in the United States. The Company owns approximately 25 residential properties in Miami and Miami Beach, Florida, including 21 luxury condominium units and two penthouse units in the Marquis Residences, one penthouse unit in Ocean One Condominium and one condominium units in the Continuum on South Beach Condominium. The Company's subsidiaries include Optibase Inc., Optibase Real Estate Europe SARL, Optibase Bavaria GmbH & Co. KG and OPCTN S.A.