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News Breaks | | | | October 12, 2012 | | 10:01 EDT |  | OBAS | Optibase acquires beneficial interest in owner of commercial office building
Optibase has acquired an approximately 19.66% beneficial interest in the owner of a Class A 20-story commercial office building in Philadelphia known as Two Penn Center Plaza. The acquisition was undertaken by the Company’s wholly-owned subsidiary, Optibase 2 Penn, LLC as a limited partner in a larger joint venture that acquired 88% of the beneficial interests in the owner of the 2 Penn Center Plaza. Optibase made a capital contribution of approximately $4,025,000 to acquire a 19.66% indirect beneficial interest in the owner of the Property. | |
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