FORM 6-K

  

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

  

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

of the Securities Exchange Act of 1934

 

 

OPTIBASE LTD.

(Translation of registrant’s name into English)

8 Hamanofim Street

Herzliya 4672559, Israel

+972-73-7073700

 (Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. 

Form 20-F S Form 40-F £

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ____ 

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ____ 

 

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. 

 

Yes £ No S

 

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- ________   

 

Attached hereto and incorporated by way of reference herein is a press release issued by the Registrant and entitled “Optibase Ltd. announces financing of office building in Chicago, Illinois”.

 

Signatures 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. 

 

 

Date: November 28, 2017

 

Amir Philips, CEO, Optibase Ltd.

011-972-73-7073-700

Marybeth Csaby, for Optibase

+1- 917-664-3055

OPTIBASE LTD. ANNOUNCES FINANCING OF OFFICE

BUILIDING IN CHICAGO, ILLINOIS

HERZLIYA, Israel, November 28, 2017 – Optibase Ltd. (NASDAQ: OBAS), Optibase Ltd. (Optibase), is pleased to announce that Shinhan Bank, a Korean Bank (Lender), recently extended a $175 million, 5-year fixed-rate loan (the Loan) to South Riverside Building LLC (Borrower), an affiliate which is thirty percent (30%) owned by an Optibase indirect subsidiary.

The Loan is secured by 300 South Riverside Plaza, a newly renovated, 22-story LEED Gold Certified office tower located in the West Loop of Chicago, IL, USA (the “Property”), which is owned by Borrower and controlled by Third Millennium Group.

As a result of the Loan, Optibase received a repayment of its senior notes to Borrower’s parent company, 300 River Holdings LLC, in the amount of $3 million plus accrued interest.

About Optibase Ltd.

Optibase invests in the fixed-income real estate field and currently holds direct or indirect ownership interests in properties in Switzerland, Germany and the United States (Miami, Texas, Chicago and Philadelphia) 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.

This press release contains forward-looking statements concerning our marketing and operations plans.  All statements other than statements of historical fact are statements that could be deemed forward-looking statements. All forward-looking statements in this press release are made based on management's current expectations which involve risks, uncertainties and other factors that could cause results to differ materially from those expressed in forward-looking statements. These statements involve a number of risks and uncertainties including, but not limited to, difficulties in finding suitable real-estate properties for investment, availability of financing for the acquisition of real-estate, difficulties in leasing of real-estate properties, insolvency of tenants, difficulties in the disposition of real-estate projects, risk relating to collaborative arrangements with our partners relating to our real-estate properties, risks relating to the full consummation of the transaction for the sale of our video solutions business, general economic conditions and other risk factors.  For a more detailed discussion of these and other risks that may cause actual results to differ from the forward looking statements in this press release, please refer to Optibase's most recent annual report on Form 20-F. Optibase does not undertake any obligation to update forward-looking statements made herein.

 

---