Key Developments For OPTIBEYIS BE`AM
OPTIBEYIS BE`AM (OBAS.O) (Consolidated Issue listed on NASDAQ Global Market)
Optibase Announces Acquisition of Commercial Building in Rümlang, Switzerland
Optibase announced that it has acquired a commercial building located at Riedmattstrasse 9, Rümlang from the Swiss property company Zublin Immobilien AG. The five storey building includes 12,500 square meters (approximately 134,500 square feet) of rentable space with office, laboratory and retail uses. More than half of the leasable space in the property is occupied by Polymed Medical Center and DHL Logistics. The closing of the transaction occurred on October 29, 2009 and title to the property was acquired by an Optibase subsidiary. The purchase price for the transaction was approximately CHF 23,500,000 of which CHF 18,800,000 was financed by a local Swiss bank.
Optibase IPTV Solution Deployed By A Cable News Network
Optibase announced that a cable news network has selected Optibase EZ TV advanced IPTV solution for in-house video delivery. The EZ TV system will serve hundreds of employees in the network`s headquarters and remote sites, enabling them to view and monitor in real time and on demand the network`s internal and production channels as well as incoming feeds.
Optibase Introduces MovieMaker H.264 PCI Express Encoder
Optibase announced the release of MovieMaker H.264, a high-performance H.264 PCIe encoder. MovieMaker H.264 offers a video encoding, streaming and archiving solution with video quality in a range of bit rates, resolutions and frame rates, for corporate communications, real-time event streaming, and quality video surveillance.
ZTE Corporation Selects Optibase To Provide Encoding Solutions For CANTV IPTV Services In Venezuela
Optibase announced that ZTE Corporation, will integrate Optibase`s advanced Media Gateway IPTV encoding platforms in its end-to-end ZTE Eye-Will IPTV solution for deployment by CANTV in Venezuela. Optibase will provide H.264 encoding platforms for broadcasting hundreds of live channels over the operator`s managed IP-based network.
Optibase's Joint Venture Announces Acquisition Of Interest In 485 Lexington Avenue From Subsidiary Of SL Green Realty Corp.
Optibase announced that on August 7, 2009, it entered into a joint venture to acquire 49.5% of the beneficial interest in the office building located at 485 Lexington Avenue in Manhattan from a subsidiary of SL Green Realty Corp. Optibase and Gilmor USA LLC, an unrelated party, are each equal partners in the joint venture through Mazal 485 LLC. The purchase price for the transaction is approximately $20,790,000 together with a loan of approximately $20,000,000 from the joint venture secured by a pledge by the Seller of an additional 49.5% interest in Green 485 JV LLC, with the Seller retaining an unencumbered 1% interest in Green 485 JV LLC.
