Optibase (OBAS) 20-F 28 Mar 18 2017 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2017shares
Document and Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Entity Registrant Name	OPTIBASE LTD
Entity Central Index Key	1,077,618
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding	5,214,256

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
CURRENT ASSETS:
Cash and cash equivalents	$ 20,268	$ 16,024
Restricted cash	292
Trade receivables (net of allowance for doubtful accounts of $ 161 and $ 154 at December 31, 2017 and 2016, respectively)	332	220
Other accounts receivable and prepaid expenses	506	528
Total current assets	21,398	16,772
LONG-TERM INVESTMENTS:
Long-term deposits	3,483	2,785
Investments in companies and associates	17,556	22,892
Total long-term investments	21,039	25,677
PROPERTY AND OTHER ASSETS, NET
Real estate property, net	216,726	207,690
Other assets, net	140	245
Total property, equipment and other assets	216,866	207,935
Total assets	259,303	250,384
CURRENT LIABILITIES:
Current maturities of long-term loans and bonds	6,048	10,360
Other accounts payable and accrued expenses	4,362	4,254
Total liabilities attributed to discontinued operations	2,061	2,061
Total current liabilities	12,471	16,675
LONG-TERM LIABILITIES:
Deferred tax liabilities	14,042	13,620
Land lease liability, net	6,295	6,133
Other Long-Term Liabilities	294	407
Loan from controlling shareholder	4,886
Long-term loans, net of current maturities	135,774	129,261
Long-term bonds, net of current maturities	8,473	10,160
Total long-term liabilities	169,764	159,581
SHAREHOLDERS' EQUITY:
Share capital - Ordinary shares of NIS 0.65 par value - Authorized: 6,000,000 shares at December 31, 2017 and 2016; Issued: 5,214,256 at December 31, 2017 and 2016; Outstanding: 5,180,361 and 5,172,361 shares at December 31, 2017 and 2016, respectively	993	993
Additional paid-in capital	138,170	138,155
Treasury shares: 33,895 and 41,895 shares at December 31, 2017 and 2016, respectively	(87)	(87)
Other reserves	9	(3,002)
Accumulated deficit	(82,048)	(80,925)
Total shareholders' equity of Optibase Ltd.	57,037	55,134
Non-controlling interests	20,031	18,994
Total shareholders' equity	77,068	74,128
Total liabilities and shareholders' equity	$ 259,303	$ 250,384

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) $ in Thousands	Dec. 31, 2017USD ($)shares	Dec. 31, 2017₪ / shares	Dec. 31, 2016USD ($)shares	Dec. 31, 2016₪ / shares
Statement of Financial Position [Abstract]
Allowance for doubtful accounts | $	$ 161		$ 154
Ordinary Shares, par value per share | ₪ / shares		₪ 0.65		₪ 0.65
Ordinary Shares, shares authorized	6,000,000		6,000,000
Ordinary Shares, shares issued	5,214,256		5,214,256
Ordinary Shares, shares outstanding	5,180,361		5,172,361
Treasury shares, shares	33,895		41,895

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Fixed income from real estate rent	$ 16,587	$ 16,338	$ 15,273
Costs and expenses:
Cost of real estate operations	3,057	3,159	2,958
Real estate depreciation and amortization	4,209	4,244	3,925
General and administrative	2,698	2,615	1,849
Other operating costs			2,352
Total costs and expenses	9,964	10,018	11,084
Operating income	6,623	6,320	4,189
Other income	597	1,116	429
Financial expenses, net	(2,769)	(3,366)	(1,807)
Income before taxes on income	4,451	4,070	2,811
Taxes on income	(1,602)	(1,627)	(1,609)
Equity share in losses of associates, net	(1,677)	(323)	(31)
Net income	1,172	2,120	1,171
Net income attributable to non-controlling interest	2,295	1,925	2,239
Net income (loss) attributable to Optibase Ltd.	$ (1,123)	$ 195	$ (1,068)
Net earnings per share:
Basic and diluted net earnings (loss) per share	$ (0.22)	$ 0.04	$ (0.21)
Weighted average number of shares used in computing basic net earnings per share:	5,180,163	5,147,130	5,133,024
Weighted average number of shares used in computing diluted net earnings per share:	5,180,163	5,157,165	5,133,024

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 1,172	$ 2,120	$ 1,171
Foreign currency translation adjustments	3,357	(1,475)	(467)
Financial liability related to hedging	113	(143)	(264)
Comprehensive income	4,642	502	440
Net earnings attributable to non-controlling interests	(2,295)	(1,925)	(2,239)
Other comprehensive loss (income) attributable to non-controlling interests	(831)	522	46
Comprehensive income (loss) attributable to Optibase Ltd.	$ 1,516	$ (901)	$ (1,753)

STATEMENTS OF CHANGES IN SHAREH

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Ordinary Shares [Member]	Additional Paid-in Capital [Member]	Treasury Shares [Member]	Other reserves [Member]	Accumulated Deficit [Member]	Total Shareholders' Equity of Optibase Ltd. [Member]	Non-controlling Interests [Member]	Total
Balance at Dec. 31, 2014	$ 988	$ 137,898	$ (554)	$ (1,221)	$ (79,672)	$ 57,439	$ 19,636	$ 77,075
Stock-based compensation		98				98		98
Issuance of treasury shares upon vesting of shares		(35)	200		(165)
Dividend to non-controlling interests							(2,029)	(2,029)
Other comprehensive income				(685)		(685)	(46)	(731)
Net income (loss)					(1,068)	(1,068)	2,239	1,171
Balance at Dec. 31, 2015	988	137,961	(354)	(1,906)	(80,905)	55,784	19,800	75,584
Stock-based compensation		60				60		60
Issuance of shares upon exercise of stock options	5	186				191		191
Issuance of treasury shares upon vesting of shares		(52)	267		(215)
Dividend to non-controlling interests							(2,209)	(2,209)
Other comprehensive income				(1,096)		(1,096)	(522)	(1,618)
Net income (loss)					195	195	1,925	2,120
Balance at Dec. 31, 2016	993	138,155	(87)	(3,002)	(80,925)	55,134	18,994	74,128
Stock-based compensation		15				15		15
Dividend to non-controlling interests							(2,089)	(2,089)
Other comprehensive income				2,639		2,639	831	3,470
Equity component of transaction with controlling shareholder				372		372		372
Net income (loss)					(1,123)	(1,123)	2,295	1,172
Balance at Dec. 31, 2017	$ 993	$ 138,170	$ (87)	$ 9	$ (82,048)	$ 57,037	$ 20,031	$ 77,068

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 1,172	$ 2,120	$ 1,171
Adjustments required to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,209	4,244	3,925
Stock-based compensation related to options and unvested shares	15	60	98
Decrease (Increase) in trade receivables	(112)	(46)	111
Equity share in losses of associates, net	1,998	520	31
Increase (decrease) in deferred tax liabilities	(169)	(177)	(48)
Decrease in other short-term liabilities			(538)
Decrease in land lease liabilities	(106)	(107)	(109)
Decrease (increase) in other accounts receivable and prepaid expenses	(791)	(370)	1,070
Increase (decrease) in accrued expenses and other accounts payable	1,685	1,060	(1,687)
Net cash provided by continuing operations	7,901	7,304	4,024
Net cash used in discontinued operations		(48)	(44)
Net cash provided by operating activities	7,901	7,256	3,980
Cash flows from investing activities:
Investment in real estate property	(2,195)	(2,450)	(2,215)
Increase in restricted cash	(292)
Proceeds from (investments in) associates, net	3,338	(2,749)	(13,142)
Decrease (increase) in other long-term deposits	265	159	(2,616)
Acquisition of Optibase Bavaria (b)			(31,473)
Net cash provided by (used in) investing activities	1,116	(5,040)	(49,446)
Cash flows from financing activities:
Repayment of long-term bank loans and bonds	(8,431)	(8,112)	(2,811)
Proceeds from bank loan		530	36,969
Proceeds from issuance of long-term bonds			15,045
Dividend paid to non-controlling interests	(2,089)	(2,209)	(2,029)
Proceeds from controlling shareholders' loan	5,118
Issuance of shares upon exercise of stock options		191
Net cash provided by (used in) financing activities	(5,402)	(9,600)	47,174
Exchange differences on balances of cash and cash equivalents	629	(398)	(804)
Increase (decrease) in cash and cash equivalents	4,244	(7,782)	904
Cash and cash equivalents at the beginning of the year	16,024	23,806	22,902
Cash and cash equivalents at the end of the year	20,268	16,024	23,806
Supplemental cash flow activities:
Taxes	2,744	1,420	3,971
Interest	2,554	2,896	1,795
Acquisition of Optibase Bavaria:
Real estate property			31,399
Other assets, net			74
Cash paid by the company			$ 31,473

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1:- GENERAL a. Optibase Ltd. (the "Company") was incorporated and commenced operations in 1990. During 2009 the Company entered into the fixed-income real estate sector after an acquisition of a commercial building in Switzerland. Until the sale of its video solutions business to VITEC Multimedia ("Vitec") in July 2010 (see Note 1d below), the Company and its U.S subsidiary, Optibase Inc., provided equipment for a wide range of professional video applications in the Broadband IPTV, Broadcast, Government, Enterprise and Post-production markets . As of December 31, 2017, the Company manages its activity through three active subsidiaries: Optibase Inc. in the United States which was incorporated in 1991 ("Optibase Inc."), Optibase Real Estate Europe SARL ("Optibase SARL") in Luxembourg which was incorporated in October 2009, and OPCTN SA, a Luxembourg company owned 51% by the Company which was incorporated in February 2011 ("Subsidiaries"), (collectively, the "Group"). b. Acquisitions and investments in associates: 1. Retail portfolio in Bavaria, Germany: On December 18, 2014 the Company through Optibase SARL subsidiary, Optibase Bavaria GmbH & Co. KG ("Optibase Bavaria"), entered into a Purchase Agreement with an unrelated third party to acquire a retail portfolio of twenty-seven Commercial properties in, Germany (the "Retail Portfolio in Germany"). The Retail Portfolio in Germany represents a homogenous retail portfolio in established retail locations, it has approximately 37,000 square meters of total rental space. The largest tenant in the Retail Portfolio in Germany is EDEKA, which currently leases 19 of the rental properties in the portfolio. In addition to the hypermarkets and supermarkets, smaller shops (such as bakeries and post offices) operate on several locations as subtenants of EDEKA. On June 2, 2015 the first stage of the transaction closing occurred and the Company acquired twenty-five (25) supermarkets in consideration of a purchase price of € 24,000 (approximately $ 26,249 as of the purchase date). On July 8, 2015 the Company acquired the two (2) remaining supermarkets for an additional purchase price of € 4,750 (approximately $ 5,224 as of the purchase date). In addition to the purchase price, the Company incurred acquisition costs, including real estate transfer taxes of € 2,075 (approximately $ 2,352 during 2015) The portfolio purchase price has been allocated to real estate properties and other assets, net, in accordance with the Company's accounting policies for business combinations. The total purchase price was allocated as follows: Real estate property $ 31,399 Other assets, net 74 Total purchase price $ 31,473 2. 300 South Riverside Plaza, Chicago: On December 29, 2015, the company through its ., In addition to the Purchase Price, the Company incurred acquisition costs of approximately $ 242. c. The Company's two major tenants accounted for 18% and 16%, 18% and 18% and 23% and 12% of the Company revenues in the years ended December 31, 2017, 2016 and 2015 respectively. No other tenants accounted for more than 10% of the company revenues. For further details regarding a dispute to which OPCTN's subsidiary, Eldista Gmbh (“Eldista”), see Note 11e(4). d. Sale of the Video Activity (discontinued operations): Until the sale of its video solutions business to VITEC Multimedia ("Vitec") in July 2010, the Company and its U.S subsidiary, Optibase Inc., provided equipment for a wide range of professional video applications in the Broadband IPTV, Broadcast, Government, Enterprise and Post-production markets (collectively, the "Video Activity"). On March 16, 2010, the Company and its subsidiary, Optibase Inc., entered into an asset purchase agreement (the "Agreement") with Optibase Technologies Ltd. and Stradis Inc., wholly owned subsidiaries of S.A. Vitec (also known as Vitec Multimedia) (S.A. Vitec, Optibase Technologies Ltd. and Stradis Inc., collectively, "Vitec"). According to the Agreement, the Company sold to Vitec all of the assets and liabilities related to the Company's Video Solutions Business (the "Video Activity"). The closing of the transaction occurred on July 1, 2010. The liabilities of the Video activity for the years ended December 31, 2017 and 2016, which relates to the discontinued operations and presented in the consolidated balance sheets, are summarized as follows: Year ended December 31, 2017 2016 Liabilities: Total liabilities attributed to discontinued operations $ 2,061 $ 2,061 Total liabilities $ 2,061 $ 2,061

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES a. Basis of presentation of the financial statements: The preparation of financial statements in conformity with U.S generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company's management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period b. Functional currency, presentation currency and foreign currency: The presentation currency of the financial statements is the U.S. dollar. The functional currency of the Company is the U.S Dollar. The functional currencies of Optibase's subsidiaries are CHF, EUR and U.S dollar. Assets and liabilities of these subsidiaries are translated at the year-end exchange rates and their statement of operations items are translated using the average exchange rates for all periods presented. The resulting translation adjustments are recorded as a separate component of accumulated other comprehensive income in shareholders' equity. c. Principles of consolidation: The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation. d. Non-controlling interests: Non-controlling interests generally represent the portion of equity that the Company does not own in the consolidated entities. The Company accounts for and reports its non-controlling interests in accordance with the provisions required under the Consolidation Topic of the FASB ASC 810. Non-controlling interests are separately presented within the equity section of the consolidated balance sheets. The amounts of consolidated net earnings attributable to the Company and to the non-controlling interests are presented on the consolidated statement of operations. e. Cash equivalents: Cash equivalents include short-term, highly liquid investments that are readily convertible to cash, with original maturities of three months or less at the date acquired. f. Property and equipment: Real estate properties and equipment are stated at cost net of accumulated depreciation. Costs include those related to acquisition, including building improvements. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, as follows: Years Building 25 - 63 Buildings' improvements 5 - 20 Condominium units 30 g. Impairment of long-lived assets and intangible assets: The Group's long-lived assets are reviewed for impairment in accordance with ASC 360, "Property, Plant and Equipment" and ASC 350, “Intangibles - Goodwill and other ”, The Company reviews assets on a component-level basis, which is the lowest level of assets for which there are identifiable cash flows that can be distinguished operationally and for financial reporting purposes. The carrying amount of the asset group was compared with the related expected undiscounted future cash flows to be generated by those assets over the estimated remaining useful life of the primary asset. In cases where the expected undiscounted future cash flows were less than the carrying amounts of the assets, those assets were considered impaired and written down to their fair values. Fair value was established based on discounted cash flows. As of December 31, 2017 and 2016, no impairment losses have been identified. h. Investments in companies: Investments in non-marketable equity securities of companies in which the Company does not have control or the ability to exercise significant influence over their operation and financial policies are recorded at cost. The management evaluates investments in non-marketable equity securities as evidence of other-than temporary declines in value. When relevant factors indicate a decline in value that is other-than temporary the Company recognizes an impairment loss for the decline in value. i. Investments in associates: Associates are companies in which the Company has significant influence over the financial and operating policies without having control. The investment in associates is accounted for using the equity method of accounting. Under the equity method, the investment in associates is accounted for in the financial statements at cost plus changes in the Group's share of net assets, including other comprehensive income (loss) of the associates. The equity method is applied until the loss of significant influence or classification of the investment as non-current asset held-for-sale. The accounting policy in the financial statements of the associates has been applied consistently and uniformly with the policy applied in the financial statements of the Group. j. Intangibles assets: Intangible assets consist of above-market value of in-place leases that were recorded in connection with the acquisition of the properties. Intangible assets are amortized and accreted using the straight-line method over the term of the related leases. When a lease is terminated early, any remaining unamortized balances under lease intangible assets or liabilities are charged to earnings. k. Derivative instruments: The Company accounts for derivatives and hedging based on ASC No. 815, "Derivatives and Hedging". ASC No. 815 requires the Company to recognize all derivatives at fair value. The accounting for changes in the fair value of a derivative instrument (i.e., gains or losses) depends on whether it has been designated and qualified as part of a hedging relationship and further, on the type of hedging relationship. For those derivative instruments that are designated and qualified as hedging instruments, the Company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. If the derivatives meet the definition of a hedge and are so designated, depending on the nature of the hedge, changes in the fair value of such derivatives will either be offset against the change in fair value of the hedged assets, liabilities, firm commitments through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative's change in fair value is recognized in earnings. As of December 31, 2017 and 2016, the Company had outstanding hedging instruments in amount of $ 294 and $ 407 respectively. At times, the Company may use derivative instruments to manage exposure to variable interest rate risk. Occasionally, the Company enters into interest rate swaps to manage its exposure to variable interest rate risk and treasury locks to manage the risk of interest rates rising prior to the issuance of debt. The Company generally enters into derivative instruments that qualify as cash flow hedges and it does not enter into derivative instruments for speculative purposes. l. Revenue recognition: The Company generates revenues from fixed income real-estate derived from its buildings held through its subsidiaries in Switzerland (Rümlang and Geneva), Germany and Miami FL. Rental income includes minimum rents which are recognized on an accrual basis over the terms of the related leases on a straight-line basis. Lease revenue recognition commences when the lessee is given possession of the leased space and there are no contingencies offsetting the lessee's obligation to pay rent. Revenue of maintenance expenses recoveries from the tenants for mainly electricity, heating and water is reported net from the related expenses. m. Contingencies: The Company periodically estimates the impact of various conditions, situations and/or circumstances involving uncertain outcomes to its financial condition and operating results. The Company accounts for contingent events as required by ASC 450 "Contingencies". ASC 450 defines a contingency as "an existing condition, situation, or set of circumstances involving uncertainty as to possible gain or loss to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur". Legal proceedings are a form of such contingencies. In accordance with ASC 450, accruals for exposures or contingencies are being provided when the expected outcome is probable. However, it is possible that future results of operations for any particular quarter or annual period could be materially affected by changes in the Company's assumptions, the actual outcome of such proceedings or as a result of the effectiveness of the Company strategies related to these proceedings. n. Income taxes: The Company and its subsidiaries account for income taxes in accordance with ASC Topic 740, "Income Taxes" "ASC 740", prescribes the use of the liability method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company and its subsidiaries provide a valuation allowance, if necessary, to reduce deferred tax assets to amounts more likely than not to be realized. ASC 740 clarifies the accounting for uncertainties in income taxes by establishing minimum standards for the recognition and measurement of tax positions taken or expected to be taken in a tax return. Under the requirements of ASC 740, the Company must review all of its tax positions and make a determination as to whether its position is more-likely-than-not to be sustained upon examination by regulatory authorities. If a tax position meets the more-likely–than-not standard, then the related tax benefit is measured based on a cumulative probability analysis of the amount that is more-likely-than-not to be realized upon ultimate settlement or disposition of the underlying issue. The Company policy is to accrue interest and penalties related to unrecognized tax benefits in its financial expenses. The Company believes that its tax positions are all highly certain of being upheld upon examination. As such, the Company has not recorded a liability for uncertain tax positions o. Concentrations of credit risk: Financial instruments that potentially subject the Company and its subsidiaries to concentrations of credit risk consist principally of cash and cash equivalents, accounts receivables and long-term lease deposits. Cash and cash equivalents are invested in U.S. dollar deposits with major banks in Israel, the United States, Switzerland and Germany. Cash and cash equivalents in the United States may be in excess of insured limits and are not insured in other jurisdictions. The Company maintains cash and cash equivalents with diverse financial institutions and monitors the amount of credit exposure to each financial institution. Accounts receivable includes amounts billed to tenants and accrued expense recoveries due from tenants. The Company makes estimates of un-collectability from its accounts receivable using the specific identification method related to base rents, straight-line rent balances, expense reimbursements and other revenues. The Company also analyzes accounts receivable and historical bad debt levels, tenant credit-worthiness, payment history and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. Accounts receivable are written-off when they are deemed to be uncollectible and the Company is no longer actively pursuing collection. The Company's reported net income is directly affected by the management's estimate of the collectability of accounts receivable. p. Earnings (loss) per share: Basic net earnings (losses) per share are computed based on the weighted average number of Ordinary shares outstanding during each year. Diluted net earnings (losses) per share is computed based on the weighted average number of Ordinary shares outstanding during each year, plus dilutive potential Ordinary shares considered outstanding during the year, in accordance with ASC 260, "Earning Per Share". Options and restricted shares that have been excluded from the calculations of diluted net income per share were 10,035 for the years ended December 31, 2016. q. Accounting for stock-based compensation: ASC Topic 718 "Compensation - Stock Compensation" "ASC 718", requires companies to estimate the fair value of share-based awards on the date of grant using an option-pricing model. The Company recognizes these compensation costs net of forfeiture rate and recognizes the compensation costs for only those shares expected to vest on a straight-line basis over the requisite service period of the award, which is generally the option vesting term of four years. The Company estimates the fair value of stock options granted using the Black-Scholes- Merton option pricing model. The option-pricing model requires a number of assumptions, of which the most significant are the expected stock price volatility and the expected option term. Expected volatility is calculated based upon actual historical stock price movements. The expected term of options granted is based upon historical experience and represents the period of time that options granted are expected to be outstanding. The risk free interest rate is based on the yield from U.S. treasury bonds with an equivalent term. The Company has historically not paid dividends and has no foreseeable plans to pay dividends. The fair value was estimated at the date of grant using the Black-Scholes model. During 2017 and 2016 there were no new grants. r. Treasury shares: During the past years, the Company repurchased certain Ordinary shares on the open market and holds such shares as treasury shares. The Company presents the cost to repurchase treasury shares as a reduction from the shareholders' equity. From time to time the Company reissues treasury shares under the stock purchase plan, upon exercise of option and upon vesting of restricted stock units. When treasury stock is reissued, the Company accounts for the re-issuance in accordance with ASC No. 505-30, "Treasury Stock" and charges the excess of the purchase cost, including related stock-based compensation expenses, over the re-issuance price to retained earnings. The purchase cost is calculated based on the specific identification method. In case the purchase cost is lower than the re-issuance price, the Company credits the difference to additional paid-in capital. s. Fair value of financial instruments: The carrying amounts of the Company's financial instruments, including cash and cash equivalents, other accounts receivable, trade payables, other accounts payable, and accrued liabilities, approximate fair value because of their generally short-term maturities. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820 establishes a three-level value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Include other inputs that are directly or indirectly observable in the marketplace. Level 3 - Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Swap instruments are measured at fair value under ASC 820 on a recurring basis as of December 31, 2017 and 2016. t. Comprehensive income: The Company accounts for comprehensive income in accordance with ASC No. 220, "Comprehensive Income". Comprehensive income generally represents all changes in shareholders' equity during the period except those resulting from investments by, or distributions to, shareholders. u. Recent accounting pronouncements: In May 2014, the Financial Accounting Standards Board ("FASB") issued, Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers (Topic 606)". The guidance substantially converges final standards on revenue recognition between the FASB and the International Accounting Standards Board providing a framework on addressing revenue recognition issues and, upon its effective date, replaces almost all exiting revenue recognition guidance, including industry-specific guidance, in current U.S. generally accepted accounting principles. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: • Step 1: Identify the contract(s) with a customer. • Step 2: Identify the performance obligations in the contract. • Step 3: Determine the transaction price. • Step 4: Allocate the transaction price to the performance obligations in the contract. • Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. The Company examined the new revenue recognition standard concluded standard The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Group does not anticipate that this adoption will have a significant impact on its financial position, results of operations, or cash flows. In February 2016, the FASB issued the ASU 2016-02, Leases (Topic 842). The main provision of this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The FASB decided to not fundamentally change lessor accounting. However, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within U.S. GAAP. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. This update is effective for public entities with reporting periods beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted. The company is currently evaluating the impact, if any, of the adoption of this new standard, and In January 2016, the FASB issued ASC 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. The ASU makes the following targeted changes for financial assets and liabilities: i) requiring equity investments with readily determinable fair values to be measured at fair value with changes recognized in net income; ii) simplifying the impairment assessment of equity securities without readily determinable fair values using a qualitative approach; iii) eliminating disclosure of the method and significant assumptions used to fair value instruments measured at amortized cost on the balance sheet; iv) requiring use of the exit price notion when measuring the fair value of instruments for disclosure purposes; v) for financial liabilities where the fair value option has been elected, requiring the portion of the fair value change related to instrument-specific credit risk (which includes a Company's own credit risk) to be separately reported in other comprehensive income; vi) requiring the separate presentation of financial assets and liabilities by measurement category and form of financial asset (liability) on the balance sheet or accompanying notes; and vii) clarifying that the evaluation of a valuation allowance on a deferred tax asset related to available-for-sale securities should be performed in combination with the entity's other deferred tax assets. The ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those years Early adoption of item (v) above is permitted for financial statements (both annual and interim periods) that have not yet been issued. The Company have not determined when the Company will adopt item (v) above of this ASU. The Company will adopt the remaining provisions of the ASU on January 1, 2018. The Company is evaluating the impact of this ASU on the Company's financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis (Topic 810), requiring entities to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The revised consolidation model: (1) modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, (2) eliminates the presumption that a general partner should consolidate a limited partnership, (3) affects the consolidation analysis of reporting entities that are involved with VIEs, and (4) provides a scope exception from consolidation guidance for reporting entities with interests in certain legal entities. The updated standard is effective for financial statements issued for annual and interim periods beginning after December 15, 2015. The updated standard may be applied retrospectively or using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. The adoption of this guidance is not expected to have an impact on the Company's financial statements and related disclosures. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”, which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This ASU is effective for annual and interim periods beginning after December 15, 2017. The Group does not anticipate that this adoption will have a significant impact on its financial statement.

REAL ESTATE PROPERTY, NET

REAL ESTATE PROPERTY, NET	12 Months Ended
	Dec. 31, 2017
Real Estate [Abstract]
REAL ESTATE PROPERTY, NET	NOTE 3:- REAL ESTATE PROPERTY, NET Land Building Condominium units Currency translation adjustment Total Cost: At January 1, 2016 $ 33,874 $ 184,860 $ 19,974 $ (8,966 ) $ 229,742 Additions - 1,969 481 (5,710 ) (3,260 ) At December 31, 2016 33,874 186,829 20,455 (14,676 ) 226,482 Additions - 1,945 250 11,266 13,461 At December 31, 2017 33,874 188,774 20,705 (3,410 ) 239,943 Accumulated depreciation: At January 1, 2016 - 13,878 1,326 (302 ) 14,902 Depreciation charge for the year - 3,631 394 (135 ) 3,890 At December 31, 2016 - 17,509 1,720 (437 ) 18,792 Depreciation charge for the year - 3,696 394 335 4,425 At December 31, 2017 - 21,205 2,114 (102 ) 23,217 Real estate property, net: At December 31, 2017 33,874 167,569 18,591 (3,308 ) 216,726 At December 31, 2016 $ 33,874 $ 169,320 $ 18,735 $ (14,239 ) $ 207,690 Estimated depreciation expenses by years are as follows: Year Estimated depreciation expenses 2018 4,204 2019 4,202 2020 4,173 2021 and thereafter 168,617 $ 181,196

OTHER ASSETS, NET

OTHER ASSETS, NET	12 Months Ended
	Dec. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
OTHER ASSETS, NET	NOTE 4:- OTHER ASSETS, NET Above, below market value of in-place leases Currency translation adjustment Total Cost: At January 1, 2016 $ 1,524 $ (50 ) $ 1,474 Additions - (32 ) (32 ) At December 31, 2016 1,524 (82 ) 1,442 Additions - 55 - Disposals (315 ) (31 ) (346 ) At December 31, 2017 1,209 (58 ) 1,151 Accumulated amortization: At January 1, 2016 1,088 (84 ) 1,004 Amortization charge for the year 219 (26 ) 193 At December 31, 2016 1,307 (110 ) 1,197 Amortization charge for the year 120 40 160 Disposals (346 ) - (346 ) At December 31, 2017 1,081 (70 ) 1,011 Other assets, net: At December 31, 2017 128 12 140 At December 31, 2016 $ 217 $ 28 $ 245 Intangible assets consist of lease contracts with tenants deriving from the purchase of a building complex in Geneva in 2011 and purchase of r etail portfolio in Germany Estimated amortization expenses by years are as follows: Year Estimated depreciation expenses 2018 (8 ) 2019 (26 ) 2020 11 2021 and thereafter 163 $ 140

OTHER ACCOUNTS RECEIVABLE AND P

OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES	12 Months Ended
	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES	NOTE 5:- OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES December 31, 2017 2016 Prepaid expenses $ 367 $ 407 Income receivable 95 95 Deposit - 6 Others 44 20 $ 506 $ 528

LONG-TERM DEPOSITS

LONG-TERM DEPOSITS	12 Months Ended
	Dec. 31, 2017
LONG TERM DEPOSIT [Abstract]
LONG TERM DEPOSITS	NOTE 6:- LONG-TERM DEPOSITS December 31, 2017 2016 Bonds deposit (1) $ 1,897 $ 1,709 Restricted account (2) 519 727 SWAP (3) 986 274 Other 81 75 $ 3,483 $ 2,785 (1) Bonds deposit of one payment of principal and interest reserves. See Note 10. (2) Restricted amount of $ 519 related to the hedging transaction, see details (3) below. (3) Hedging of cross currency interest rate swap transaction for the total amount of approximately NIS 34,200 at fixed interest rate of 6.7% in exchange for approximately $ 8,700 at fixed interest rate of 7.95% with semi-annually payments commencing on June 2016 through December 2021, the termination date. As of December 31, 2017 the hedging amount is $ 5,800.

INVESTMENTS IN COMPANIES AND AS

INVESTMENTS IN COMPANIES AND ASSOCIATES	12 Months Ended
	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN COMPANIES AND ASSOCIATES	NOTE 7:- INVESTMENTS IN COMPANIES AND ASSOCIATES a. On October 12, 2012, the Company acquired through its subsidiary beneficial interests in Two Penn Center Plaza in Philadelphia, Pennsylvania. This investment is accounted for using the equity method of accounting as the Company's indirect beneficial interest in Two Penn Center Plaza is 22.16% and therefore is considered to be more than minor. December 31, 2017 2016 Invested in equity $ 4,025 $ 4,025 Distributions (672 ) (335 ) Accumulated net loss (84 ) (203 ) Total investment $ 3,269 $ 3,487 b. On December 31, 2012 the Company acquired through its subsidiary Optibase Inc. approximately 4% indirect beneficial interest in a portfolio of shopping centers located in Texas, USA in consideration for $ 4,000 which accounted for the cost method of accounting. The Company believes that its beneficial interests in Texas portfolio are considered to be so minor that they create virtually no influence over the operating and financial policies of the Real Estate Asset and therefore this investment accounted for cost method of accounting. c . On December 29, 2015, the company through its In addition to the Purchase Price, the Company acquisition costs of approximately $ 242. December 31, 2017 2016 Invested in equity $ 13,142 $ 16,142 Accumulated net loss (2,855 ) (737 ) Total investment $ 10,287 $ 15,405 d. Investments in associates accounted for using the equity method of accounting: Summarized data of the financial statements of associates, unadjusted to the Company's percentage of holdings: *) December 31, 2017 2016 Assets $ 364,805 $ 285,988 Liabilities $ 446,335 $ 352,892 Income $ 41,546 $ 46,324 Net loss $ (13,206 ) $ (9,740 ) *) The information presented does not include excess cost and goodwill.

OTHER ACCOUNTS PAYABLE AND ACCR

OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES	12 Months Ended
	Dec. 31, 2017
Payables and Accruals [Abstract]
OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES	NOTE 8:- OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES December 31, 2017 2016 Employees and payroll accruals $ 206 $ 215 Accrued expenses 1,406 1,011 Government (mainly tax provision) 1,245 1,803 Advance tenants payments 684 607 Tenant security deposits 124 120 Trade payables 697 498 Total $ 4,362 $ 4,254

LONG-TERM LOANS

LONG-TERM LOANS	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
LONG TERM LOANS	NOTE 9:- LONG-TERM LOANS a. On October 29, 2009, Optibase SARL received a mortgage loan (the "Loan") from a financial institution in Switzerland, in the amount of CHF 18,800 for the purpose of purchasing the real estate property located in Rümlang, Switzerland (the "Property"). The loan bears a variable interest rate based on current money and capital markets in Switzerland plus the bank's customary margins 0.8%. The financial institution may increase the margin at any time if creditworthiness of the borrower or quality of the property is impaired. Principal and interest of the loan are payable quarterly. The loans are repaid at a rate of CHF 376 per year. The mortgage loan may be repaid at any time with a three months prior written notice by the Company. The mortgage loan is governed by the laws of Switzerland and bears other terms and conditions customary for that type of mortgage loans . Maturities of the loan by years are as follows: Year ended December 31, 2018 (current maturity) $ 385 Long-term portion: 2019 385 2020 385 2021 385 2022 385 Thereafter 14,250 Total $ 15,790 b. On October 2011, OPCTN and Eldista entered into a CHF 100,000 bank loan refinancing with Credit Suisse for the above mentioned loan. Under the new financing agreement, Credit Suisse provided a new loan to OPCTN and Eldista which replaced the mortgage loan that Credit Suisse provided to Eldista. The loan bears a variable interest rate based on current money and capital markets in Switzerland plus the bank's customary margins, the combined interest margins rate is 0.83%. The loans are repaid at a rate of CHF 2,000 per year and are secured by a first mortgage over the property and by a pledge of Eldista's shares. The Company is required to meet certain covenants under this mortgage loan. As of December 31, 2017, the Company met these covenants. Maturities of the loan by years are as follows: Year ended December 31, 2018 (current maturity) $ 2,049 Long-term portion: 2019 2,049 2020 2,049 2021 2,049 2022 2,049 Thereafter 80,221 Total $ 88,417 c. Optibase Bavaria negotiated a loan agreement with a Deutsche Genossenschafts-Hypothekenbank Aktiengesellschaft ("DG HYP"), for the provision of a senior mortgage loan in the amount of up to Euro 21,000 of which the Company utilized Euro 20,474. The effective interest rate was closed at 2.15%. The loan is repaid in quarterly installments of EUR 105 each, up until April 30, 2020. The terms of the loan includes certain covenants, a debt service cover ratio requirement of between 130% and 110%, and a loan to value requirement of 70% in the first three years and 65% in the fourth and fifth years. As of December 31, 2017, the Company met these covenants. Maturities of the loan by years are as follows: Year ended December 31, 2018 (current maturity) $ 503 Long-term portion: 2019 503 2020 22,135 Total $ 22,638 d. On July 8, 2015, the Company subsidiary, Optibase Inc ., (“CNB”) 25 The loan is secured by a senior mortgage over the condominium units. ., or its subsidiary, the new financing agreement are substantially the same as under the previous agreement Maturities of the loan by years are as follows: Year ended December 31, 2018 (current maturity) $ 228 Long-term portion: 2019 228 2020 8,701 Total $ 8,929 e. For information regarding a loan received from the controlling shareholder, see note 17b(8).

LONG-TERM BONDS

LONG-TERM BONDS	12 Months Ended
	Dec. 31, 2017
Long-term Debt, Excluding Current Maturities [Abstract]
LONG TERM BONDS	NOTE 10:- LONG-TERM BONDS In August 2015, the Company issued gross amount of NIS 60,000 (approximately $ 15,700 as of the issue date) in aggregate principal amount of Series A Bonds bearing annual fixed interest of 6.7% payable in semi-annual installments on June 30 and on December 31 of each of the years 2015 through 2021, commencing on December 31, 2015 and ending on December 31, 2021. The principal will be repaid in semi-annual installments on June 30 and on December 31 of each of the years of 2016 through 2021, commencing on June 30, 2016 and ending on December 31, 2021. The bonds (principal and interest) are not linked to any currency or index. Debt issuance costs of $ 384 reported in the balance sheet as a direct deduction from the gross amount of the bonds according to Accounting Standards Update, or ASU, 2015-03 issued by the Financial Accounting Standards Board In April 2015. The Company elected to adopt this standard early, effective August 10, 2015. The debt issuance costs are amortized in accordance with the bonds payments. As of December 31, 2017 the unamortized amount of the debt issuance costs is $ 184. The Company is required to meet certain covenants under this bonds. As of December 31, 2017, the Company met these covenants. Maturities of the bonds by years are as follows: Year ended December 31, 2018 (current maturity) $ 2,883 Long-term portion: 2019 2,883 2020 2,883 2021 2,707 Total $ 8,473

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 11:- COMMITMENTS AND CONTINGENT LIABILITIES a. Lease commitments: The Company and its subsidiaries facilities leased and motor vehicles leased under several operating lease agreements for different periods ending in 2020. Future minimum lease commitments under non-cancelable operating leases are as follows: Year ended December 31, 2018 $ 156 2019 151 2020 118 2021 34 Total 459 b. Assets pledged as collateral: As collateral for the Company's loan mortgages, a fixed pledge has been placed on the Company's subsidiaries in Luxemburg shareholders' equity. See Note 9a. c. Israel Innovation Authority Until the sale of the Video Activity the Company participated in programs sponsored by the Israeli Government and by the European Commission for the support of research and development activities. The Company was obligated to pay royalties to the Israel Innovation Authority ("IIA IIA expected d. In June 2017, Aberdeen Associates LLC, a Delaware limited liability company, extended a $7,000, 5-year fixed-rate loan facility (the “Loan Facility”) to the Company’s subsidiary, Optibase Inc. secured by a pledge of 100% of its membership interest in Optibase Chicago 300, LLC. The Loan Facility will bear interest at an annual rate of 5% of the amount drawn, and is compounded and paid quarterly until the maturity on June 1, 2022. As of December 31, 2017, the Company has not drawn down any funds under the Loan Facility. e. Legal claims and 1. On October 26, 2014, the Company received a letter on behalf of two purported shareholders (the "Shareholders") demanding the Company to file a derivative claim against its controlling shareholder and directors and officers, according to procedures of the Companies Law and requesting discovery of internal documents. The demand alleges, among other things, breach of fiduciary duties by directors and officers with respect to the approval of the transaction to acquire condominium units in Miami Beach, Florida, (the "Transaction"), in accordance with the Companies Law. The Company presented the Shareholders, at their request, with certain materials in connection with the Transaction for their review. On May 12, 2015 the Company has been served with a motion to approve the filing of a derivative claim against its controlling shareholder, directors and CEO and against certain former controlling shareholder and directors, (the "Motion"). The Claim alleges, among other things, a breach of fiduciary duties by the Company directors, officers and controlling shareholder, and an exploitation of a business opportunity by the Company current and former controlling shareholder with respect to certain private placements of the Company's shares to its controlling shareholder. The Claim further alleges, that such private placements constitute a prohibited distribution as the shares were issued for an unfair consideration. As a result of the above, the Applicants request the Court to allow them to continue with this derivative claim and ultimately to require all the defendants to pay the Company an aggregate amount of approximately $ 41,900, as well as required the Companies shareholder (current and former) to pay to the Company approximately $ 2,800 plus interest (for the exploitation of a business opportunity). The Applicants further require reimbursement of expenses, legal fees and award to the Applicants. On November 8, 2015, The Company has submitted its response to the Motion and Claim together with an expert opinion. The Company has raised several arguments against the Motion including, inter alia, preliminary claims to dismiss the Motion in-limine On September 6, 2016, the Applicants submitted to the District Court their answer to the Company's response to the motion to approve the filing of a derivative claim, together with an expert opinion. On October 30, 2016, a pre-trial hearing was held during which the Court gave instruction regarding the scope of disclosure that the Company needs to discover. On March 14, 2017 the Company, the Company's directors, CEO and former directors' submitted an expert opinion as a response to the expert opinion submitted by the Applicants. Cross-examination hearings were held on October 31, 2017, November 19, 2017, December 5, 2017 and February 25, 2018. The next cross-examination hearing is scheduled for October 7, 2018. At this stage we cannot provide an assessment as to the chances of the claim and the exposure to the Company. 2. On March 1, 2010, the Company's subsidiary in Luxembourg entered into an Option Agreement, (the "Option Agreement"), with Swiss Pro who introduced the Company the Rümlang property and facilitated the acquisition and financing of the commercial building acquired by the Company in October, 2009 in Rümlang, Switzerland. According to the Option Agreement, the Company's subsidiary granted Swiss Pro an option to purchase, within 8 years from the entrance into the agreement, twenty percent (20%) of its share capital in consideration of CHF 315 for the option. The exercise price under the Option Agreement is calculated based on twenty percent (20%) of acquisition costs for the Rümlang Property plus interest and an adjustment for proceeds that are distributed to the shareholders. The shares that would be issued to Swiss Pro upon exercise of the option will not have voting rights and would be subject to transfer restrictions in favor of the Company. In October 2017, the option has expired. The Company sent a response letter on August 18, 2015 in which the Company rejected all allegations. On December 24, 2015 Swiss Pro sent another letter repeating its arguments and the Company sent its response to the letter on December 31, 2015. On May 25, 2016 Swiss Pro sent another letter in which they asked for exercise of the granted option. On June 29, 2016, the Company responded to this letter and detailed the required sum for exercise of the granted option, however, the Company has not yet received a response. At this stage the Company cannot provide an assessment as to the chances of the arguments raised by Swiss Pro and the exposure to the Company. 3. On April 16, 2015, the Company's subsidiary Eldista GmbH, filed a claim to the court in Switzerland in an amount of CHF 961 (approximately $ 984 as of December 31, 2017) due to damages and unpaid amounts from a specific tenant. Shortly thereafter, the tenant filed a counterclaim against Eldista GmbH in an amount of CHF 157 (approximately $ 161 as of December 31, 2017) for damages allegedly caused to it. The court suggested the parties to transfer to mediation proceedings which failed. The court handed down a partial judgment on 31, October 2016, dismissing against the judgment. The appeal is currently pending before the court of appeal of Geneva. At this stage, the Company cannot assess whether the court will receive Elista's or the tenant's arguments. 4. On March 1, 2017, OPCTN subsidiary Eldista Gmbh, received a notice from its largest tenant in Switzerland, LEM Switzerland SA, (the "Tenant"), regarding the deposit of the monthly rent as of March 2017 amounting to CHF 279 ( approximately approximately On February 16, 2018 Eldista submitted a reply brief to the court, the Tenant will have until April 9, 2018 to submit a complementary brief and Eldista until May 14, 2018. As of December 31, 2017, the Company has sufficient provisions to cover the expected outcome of this claim.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 12:- FAIR VALUE MEASUREMENTS a. Recurring fair value measurements: The fair value of the interest rate swaps is based on the estimated amount the Company would receive or pay to terminate the contract at the reporting date and is determined using interest rate pricing models and observable inputs. As of December 31, 2017 and 2016, the Company has an interest rate swap agreements for loan. The fair value of the interest rate swap consisted of a liability of $ 293 and $ 407, respectively, is included in long-term liabilities, and the net unrealized income on the Company interest rate swap is included in accumulated other comprehensive loss. The fair value of the currency swaps is based on the estimated amount the Company would receive or pay to terminate the contract at the reporting date and is determined using currency rate pricing models and observable inputs. As of December 31, 2017 and 2016, the Company has a currency rate swap agreements for . The fair value of the currency rate swap consisted of an assets of $ 986 and $ 274, respectively. b. Valuation methods: In accordance with ASC 820, the Company measures its interest rate swap derivative instruments at fair value using the market approach valuation technique. The fair value of interest rate swap derivative instruments is classified within Level 2 value hierarchy, as the valuation inputs are based on quoted prices.

TAXES ON INCOME

TAXES ON INCOME	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
TAXES ON INCOME	NOTE 13:- TAXES ON INCOME a. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "TCJA"). The TCJA makes broad and complex changes to the Code. The changes include, but are not limited to: 1. A corporate income tax rate decrease from 35% to 21% effective for tax years beginning after December 31, 2017 ("Rate Reduction"); 2. The transition of U.S international taxation from a worldwide tax system to a territorial system by providing a 100 percent deduction to an eligible U.S. shareholder on foreign sourced dividends received from a foreign subsidiary; 3. A one-time transition tax on the mandatory deemed repatriation of cumulative foreign earnings as of December 31, 2017; and 4. Taxation of GILTI earned by foreign subsidiaries beginning after December 31, 2017. The GILTI tax imposes a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. The Company has not completed its accounting for the income tax effects of the TCJA. Where the Company has not yet been able to make reasonable estimates of the impact of certain elements, the Company has not recorded any amounts related to those elements and has continued accounting for them in accordance with ASC 740 on the basis of the tax laws in effect immediately prior to the enactment of the TCJA, pursuant to SEC Staff Accounting Bulletin No. 118. b. Corporate tax rates: Israeli companies are generally subject to corporate tax on their taxable income. As of 2017, the corporate tax rate is 24% (in 2016 and 2015, the corporate tax rate was 25% and 26.5%, respectively). In December 2016, the Israeli Parliament approved the Economic Efficiency Law (Legislative Amendments for Applying the Economic Policy for the 2017 and 2018 Budget Years), 2016 which reduces the corporate income tax rate to 24% (instead of 25%) effective from January 1, 2017 and to 23% effective from January 1, 2018. Capital gains derived by an Israeli company are subject to the prevailing corporate tax rate. Taxable income of the Company's subsidiary in Luxemburg, Switzerland and the United States is subject to the following tax rates: Year ended December 31, 2017 2016 2015 Luxemburg 29 % 29 % 29 % Switzerland 24 % 24 % 24 % United States 34 % 34 % 34 % Germany 16 % 16 % 16 % c. Tax assessments: The Company has final tax assessments through the tax year 2013. d. Deferred tax assets and liabilities: Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities mainly derive from the acquisitions of commercial buildings in Switzerland. The deferred taxes are computed at the average tax rate of 24%, based on the corporate income tax in Switzerland, which is the tax rate that will be in effect when the differences are expected to reverse. Significant components of the Company and its subsidiary deferred tax assets are as follows: December 31, 2017 2016 Deferred tax assets: Net Operating losses $ 24,972 $ 28,091 Lease provision 1,511 1,472 Other 203 199 Deferred tax assets 26,686 29,762 Deferred tax liabilities: Land (5,408 ) (5,181 ) Building (10,344 ) (10,065 ) Other (605 ) (397 ) Deferred tax liabilities (16,357 ) (15,643 ) Valuation allowance (24,371 ) (27,739 ) Deferred tax liabilities, net $ (14,042 ) $ (13,620 ) e. Net operating losses carry-forward: Through December 31, 2017, Optibase Ltd. had net operating losses carry-forward for tax purposes in Israel of approximately $ 68,000 which may be carried forward and offset against taxable income in the future, for an indefinite period. As of December 31, 2017, Optibase Inc. had U.S. federal net operating loss carry-forward of approximately $ 37,000 that can be carried forward and offset against taxable income for 20 years, no later than 2037. Utilization of U.S. net operating losses may be subject to the substantial annual limitation due to the "change in ownership" provisions of the Internal Revenue Code of 1986, and similar state provisions. The annual limitation may result in the expiration of net operating losses before utilization. Based upon the weight of available evidence, which includes the Company's historical operating performance and the recorded cumulative net losses in all prior fiscal periods, the Company has provided a full valuation allowance against it Israeli and U.S deferred tax assets. f. Reconciliation of the theoretical tax expenses to the actual tax expenses: A reconciliation between the theoretical tax expense, assuming all income is taxed at the statutory tax rate applicable to the income of the Company and the actual tax expense as reported in the statements of operations is as follows: Year ended December 31, 2017 2016 2015 Income before taxes as reported $ 4,451 $ 4,070 $ 2,811 Theoretical tax benefit computed at the statutory rate 24%, 25% and 26.5% for the years 2017, 2016 and 2015, respectively 1,068 1,018 745 Income tax at rate other than the Ltd. statutory tax rate (226 ) (163 ) 5 Tax adjustments in respect of currency translation 33 86 42 Adjustment of deferred tax balances following a decrease in statuary tax rates 4,225 1, 229 - Deferred taxes on losses and other temporary differences for which valuation allowance was provided (3,600 ) (638 ) 463 Taxes for previous years (80 ) - 45 Other non-deductible expenses 182 95 309 Income tax expense $ 1,602 $ 1,627 $ 1,609 f. Income before taxes on income consists of the following: Year ended December 31, 2017 2016 2015 Domestic $ (84 ) $ (1,239 ) $ (898 ) Foreign 4,535 5,309 3,709 $ 4,451 $ 4,070 $ 2,811 g. Income tax expenses are comprised as follows: Year ended December 31, 2017 2016 2015 Current $ 1,771 $ 1,801 $ 1,648 Deferred (169 ) (174 ) (39 ) $ 1,602 $ 1,627 $ 1,609 Domestic $ - $ - $ - Foreign 1,602 1,627 1,609 $ 1,602 $ 1,627 $ 1,609 h. As of December 31, 2017 and 2016 the Company has no liability for unrecognized income tax benefits, and there was no change in its liability for unrecognized income tax benefits during all years presented.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	NOTE 14:- SHAREHOLDERS' EQUITY a. General: 1. The Ordinary shares of the Company are traded on the NASDAQ Global Market since April 1999 and on the Tel Aviv Stock Exchange Ltd. Since April 2015. Ordinary shares confer on their holders the right to receive notice to participate and vote in general meetings of the Company, the right to a share in excess assets upon liquidation of the Company and the right to receive dividends, if declared. 2. On December 31, 2013 following the approval of the Company board of directors and the approval of the Company shareholders, the Company issued a net sum of 1,300,580 ordinary shares in consideration for the purchase of twelve luxury condominium units in Miami Beach, Florida from a private companies indirectly controlled by Capri, The Company's controlling shareholder. See Note 1b(1). b. Stock options: In 1999, the Company adopted an Israeli Option Plan ("1999 Israeli option plan"), and a U.S. Option Plan ("1999 U.S. option plan") (collectively, the "1999 plans"). Under the terms of the above option plans, options may be granted to employees, officers, directors and consultants. The options generally become exercisable monthly over a four-year period, commencing one year after date of the grant, subject to the continued employment of the employee. The options generally expire no later than seven years from the date of the grant. In May 2003 the Company amended its 1999 Plan to provide for the grant of options to Israeli optionees under Section 102 of the Israeli Tax Ordinance. The exercise price of the options granted under the above mentioned plans may not be less than the nominal value of the shares into which such options are exercised. Any options, which are forfeited or cancelled before expiration, become available for future grants. The total number of options available for future grants as of December 31, 2017 was 511,260 . A summary of the Company's stock option activity, and related information, is as follows: Year ended December 31, 2017 Amount Weighted average exercise price Weighted average remaining contractual term (years) Outstanding at the beginning of the year 81,269 $ 9.57 1.43 Granted - Forfeited (19,269 ) $ 8.41 Exercised - Outstanding at the end of the year 62,000 $ 9.93 0.83 Exercisable options at end of year 62,000 $ 9.93 0.83 Options vested and expected to vest at end of year 62,000 $ 9.93 0.83 The aggregate intrinsic value represents the total intrinsic value (the difference between the Company's closing stock value as of December 31, 2017 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on December 31, 2017. This amount may change based on the fair market value of the Company's stock. As of December 31, 2017 and 2016, the total intrinsic value of outstanding options was $ 0. As of December 31, 2017, the compensation cost related to options granted under the Company's stock option plans were fully recognized. c. Non-vested shares: In May 2006, the Board of Directors approved the adoption of the 2006 Israeli Incentive Compensation Plan (the "2006 Plan"). The 2006 Plan provides for the grant of options, restricted shares and restricted share units in accordance with various Israeli tax tracks. The Company currently uses the 2006 Plan for the grant of restricted shares only. The restricted shares are granted at no consideration and with a vesting schedule of two years (50% each year). The restricted shares are granted in accordance with the Israeli capital gains tax track. In November 2013 and in August 2014, the Company's board of directors approved the increase of 50,000 shares and 150,000 shares under the 2006 Plan. As of December 31, 2017 an aggregate sum of 183,690 ordinary shares has been reserved for issuance under the 2006 Plan, respectively. A summary of the status of the entity's restricted shares as of December 31, 2017, and changes during the year ended December 31, 2017, is presented below: Restricted shares Shares Weighted average grant date fair value Non-vested at January 1, 2017 12,000 $ 7.42 Granted - Vested (8,000 ) $ 7.40 Non-vested at December 31, 2017 4,000 $ 7.47 As of December 31, 2017, the compensation cost related to unvested share-based compensation arrangements granted to employees under the Plan were fully recognized. d. The total equity-based compensation expense related to all of the Company's equity-based awards, recognized for the years ended December 31, 2017, 2016 and 2015, was comprised as follows: Year ended December 31, 2017 2016 2015 General and administrative 15 60 98

FINANCIAL EXPENSES, NET

FINANCIAL EXPENSES, NET	12 Months Ended
	Dec. 31, 2017
Other Income and Expenses [Abstract]
FINANCIAL EXPENSES, NET	NOTE 15:- FINANCIAL EXPENSES, NET Financial income (expenses): Year ended December 31, 2017 2016 2015 Interest $ (3,143 ) $ (3,170 ) $ (2,640 ) Re-measurement of derivatives 616 22 578 Foreign currency translation adjustments (565 ) (218 ) 255 Other 323 - - $ (2,769 ) $ (3,366 ) $ (1,807 )

GEOGRAPHIC INFORMATION

GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION	NOTE 16:- GEOGRAPHIC INFORMATION Summary information about geographic areas: The Company manages its business on a basis of one reportable segment (see Note 1 for a brief description of the Company activity). The data is presented in accordance with ASC 280, "Segment Reporting". Revenues in the table below are attributed to geographical areas based on the location of the end customers. The following present total revenues for the years ended December 31, 2017, 2016 and 2015 and real estate property as of December, 31, 2017, 2016 and 2015: 2017 2016 2015 Real estate Real estate Real estate Total revenues property, net Total revenues property, net Total revenues property, net Switzerland $ 12,288 $ 165,981 $ 12,104 $ 160,089 $ 12,503 $ 165,371 Germany 3,268 32,152 3,338 28,864 1,914 30,820 United States 1,031 18,593 896 18,737 856 18,649 $ 16,587 $ 216,726 $ 16,338 $ 207,690 $ 15,273 $ 214,840

MAJOR SHAREHOLDERS AND RELATED

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS	NOTE 17:- MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS a. Controlling shareholders: To the Company's knowledge there are no arrangements, the operation of which may at a subsequent date result in a change in control of the Company. To the best of The Company's knowledge, the Company's ordinary shares. b. Related party transactions: 1. On July 2013, following the Company audit committee and board of directors approved, in accordance with the Israeli Companies Regulations (Relieves for Transactions with Interested Parties) of 2000, the receipt of guarantees, (the "Guarantees"), from the Company's controlling shareholder or any affiliate thereof, or collectively, (the "Controlling Shareholder"), to financing institutions in connection with the Company subsidiaries' or affiliated companies' real estate and real estate related activities. The purpose of the receipt of the Guarantees is to increase the Company financial resources in order to expand the Company Real Estate Activities. The Guarantees will be provided by the Controlling Shareholder to financing institutions in for a credit or loan to be provided in the event the Company is unable to provide sufficient equity in connection with the Real Estate Activities. The Guarantees will be provided for credit or loan amounts that will not exceed $ 20,000 per year, effective as of July 18, 2013, and up to $ 60,000 for a three-year period. The Guarantees will be in effect for the entire duration of the credit agreement or loan facility. The Company will not bear any costs or expenses in connection with the provision of the Guarantees and will not indemnify the Controlling Shareholder in case such Guarantees are exercised. On May 26, 2015 the Company utilized the guaranty given by its controlling shareholder and drew a total of Euro 5,000 that was used to partially finance the closing of the Retail Portfolio in Germany transaction. The funds were drawn in a form of a monthly credit facility bearing a yearly rate of approximately 76 basis points (0.76%). On July 24, 2015 the Company covered the monthly credit facility in full. 2. On December 19, 2013, and following the approval of the Company's audit committee, compensation committee, board of directors, and the Company's shareholders the Company approved the compensation terms of Mr. Shlomo (Tom) Wyler, for his service as Chief Executive Officer of the Company's subsidiary Optibase Inc. The yearly gross base salary will be $ 170 as well as reimbursement of health insurance expenses of up to $ 24 per year, and including reimbursement of reasonable work-related expenses incurred up to $ 50 per year. On May 16, 2016, following the approval by the Company's compensation committee, audit committee and board of directors, the Company's shareholders approved an amendment to Mr. Wyler's compensation terms in a manner that Mr. Wyler's annual gross base salary shall be $ 200 for a full time position, as of January 1, 2016, as well as reimbursement of health insurance expenses of up to $ 24 per year, and including reimbursement of reasonable work-related expenses incurred as part of his activities as Chief Executive Officer of Optibase Inc., of up to $ 50 per year. 3. On December 19, 2013, and following the approval Of the Company's audit committee, board of directors, and the Company's shareholders approved the a service agreement between the Company and Mr. Reuwen Schwarz, currently serves also as a member of the Company's board of directors, who is a relative of the beneficiaries of Capri, the Company's controlling shareholder, for the provision of real estate related consulting services in consideration for a monthly fee of € 4 plus applicable value added tax (if applicable) and reimbursement for expenses incurred up to € 12 per year. On December 29, 2016, and following the approval by the Company's audit committee and board of directors, the Company's shareholders approved the extension of Mr. Schwarz' service agreement, which will be in effect retroactively from November 1, 2016 for a period of three years. Each of Mr. Schwarz and the Company may terminate the service agreement by giving a prior written notice of 30 days. During such advance notice period, Mr. Schwarz will be required to continue the provision of the services provided by him under the agreement (unless the Company have instructed him otherwise) and in any event Mr. Schwarz will be entitled to receive the consideration for such period, except for cause. 4. On December 31, 2013 following the approval of the Company's audit committee, board of directors and the Company's shareholders, the Company, through its subsidiary Optibase Inc., completed the purchase of twelve (12) residential units in Flamingo South Beach One Condominium and the Continuum on South Beach Condominium, both located in Miami Beach, Florida from a private companies indirectly controlled by the Company's controlling shareholder (the "seller") for an aggregate net consideration of $ 7,153 following the set off of rental income of one unit for a period of three years to the seller, representing the fair value of 1.31 million new ordinary shares of the Company issued to the seller. 5. On October 22, 2014, following the approval by the Company audit committee and board of directors the Company shareholders approved the entrance into a registration rights agreement with Mr. Shlomo (Tom) Wyler and Capri, for the filing of a registration statement in order to register for resale all of the Company's Ordinary shares held by them. As of December 31, 2016 registration has not been implemented yet. 6. On September 17, 2014, following the approval of the Company audit committee and board of directors, the company entered into a transaction to sell the eleven (11) Flamingo Units, to an unrelated third party, in consideration for an aggregate price of approximately $ 6,411. The transaction was conditioned on the purchaser's execution of a purchase and sale agreement to acquire an additional nineteen (19) condominium units located in the Flamingo Condominium from a company affiliated with the Company's controlling shareholder. Therefore, in the interest of caution, the Company treated the transaction as a transaction between a public company and another party, in which the company's controlling shareholder has personal interest. 7. On December 29, 2016, the Company's shareholders approved, following the approval by the Company's audit committee and board of directors, a new lease agreement to be entered into with an affiliate of Capri, or the Tenant. The new lease will be in effect for a one-year term commencing on January 2, 2017, which will be automatically extended by a one-year term and up to a total of three years. The Tenant may decide not to extend the New Lease provided that it has given notice to that effect to the Company at least 45 days before the end of each year. The monthly rent to be paid by the Tenant to the Company is $ 25, including sales tax, the Rent. The Rent will be increased by 3% every year. 8. In March 2017, the Company's audit committee and board of directors approved, in accordance with the Israeli Companies Regulations (Relieves for Transactions with Interested Parties) of 2000, the receipt of a $ 5, 118 an amount of $ 140 was recorded as a finance expense and 9. In December 2017, following the approval of the Company’s board of directors and compensation committee, the Company's shareholders approved an amendment to the Company’s undertaking to indemnify Mr. Shlomo (Tom) Wyler, the Chief Executive Officer of the Company’s subsidiary Optibase Inc. who is affiliated with the controlling shareholder of the Company; and Mr. Reuwen Schwarz, a member of the Company’s Board of Directors, who is affiliated with the controlling shareholder of the Company, to the fullest extent permitted by the Companies Law and our articles of association. The aggregate indemnification amount shall not exceed the higher of: (i) 25% of the Company shareholders’ equity, as set forth in the Company’s financial statements prior to such payment; or (ii) $20 million.

SIGNIFICANT ACCOUNTING POLICI25

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of presentation of the financial statements	a. Basis of presentation of the financial statements: The preparation of financial statements in conformity with U.S generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company's management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period
Functional currency, presentation currency and foreign currency	b. Functional currency, presentation currency and foreign currency: The presentation currency of the financial statements is the U.S. dollar. The functional currency of the Company is the U.S Dollar. The functional currencies of Optibase's subsidiaries are CHF, EUR and U.S dollar. Assets and liabilities of these subsidiaries are translated at the year-end exchange rates and their statement of operations items are translated using the average exchange rates for all periods presented. The resulting translation adjustments are recorded as a separate component of accumulated other comprehensive income in shareholders' equity.
Principles of consolidation	c. Principles of consolidation: The consolidated financial statements include the accounts of the Company and its subsidiaries. Intercompany transactions and balances have been eliminated upon consolidation.
Non-controlling Interests	d. Non-controlling interests: Non-controlling interests generally represent the portion of equity that the Company does not own in the consolidated entities. The Company accounts for and reports its non-controlling interests in accordance with the provisions required under the Consolidation Topic of the FASB ASC 810. Non-controlling interests are separately presented within the equity section of the consolidated balance sheets. The amounts of consolidated net earnings attributable to the Company and to the non-controlling interests are presented on the consolidated statement of operations.
Cash equivalents	e. Cash equivalents: Cash equivalents include short-term, highly liquid investments that are readily convertible to cash, with original maturities of three months or less at the date acquired.
Property and equipment	f. Property and equipment: Real estate properties and equipment are stated at cost net of accumulated depreciation. Costs include those related to acquisition, including building improvements. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, as follows: Years Building 25 - 63 Buildings' improvements 5 - 20 Condominium units 30
Impairment of long-lived assets and intangible assets	g. Impairment of long-lived assets and intangible assets: The Group's long-lived assets are reviewed for impairment in accordance with ASC 360, "Property, Plant and Equipment" and ASC 350, “Intangibles - Goodwill and other ”, The Company reviews assets on a component-level basis, which is the lowest level of assets for which there are identifiable cash flows that can be distinguished operationally and for financial reporting purposes. The carrying amount of the asset group was compared with the related expected undiscounted future cash flows to be generated by those assets over the estimated remaining useful life of the primary asset. In cases where the expected undiscounted future cash flows were less than the carrying amounts of the assets, those assets were considered impaired and written down to their fair values. Fair value was established based on discounted cash flows. As of December 31, 2017 and 2016, no impairment losses have been identified.
Investments in companies	h. Investments in companies: Investments in non-marketable equity securities of companies in which the Company does not have control or the ability to exercise significant influence over their operation and financial policies are recorded at cost. The management evaluates investments in non-marketable equity securities as evidence of other-than temporary declines in value. When relevant factors indicate a decline in value that is other-than temporary the Company recognizes an impairment loss for the decline in value.
Investments in associates	i. Investments in associates: Associates are companies in which the Company has significant influence over the financial and operating policies without having control. The investment in associates is accounted for using the equity method of accounting. Under the equity method, the investment in associates is accounted for in the financial statements at cost plus changes in the Group's share of net assets, including other comprehensive income (loss) of the associates. The equity method is applied until the loss of significant influence or classification of the investment as non-current asset held-for-sale. The accounting policy in the financial statements of the associates has been applied consistently and uniformly with the policy applied in the financial statements of the Group.
Intangibles assets	j. Intangibles assets: Intangible assets consist of above-market value of in-place leases that were recorded in connection with the acquisition of the properties. Intangible assets are amortized and accreted using the straight-line method over the term of the related leases. When a lease is terminated early, any remaining unamortized balances under lease intangible assets or liabilities are charged to earnings.
Derivative instruments	k. Derivative instruments: The Company accounts for derivatives and hedging based on ASC No. 815, "Derivatives and Hedging". ASC No. 815 requires the Company to recognize all derivatives at fair value. The accounting for changes in the fair value of a derivative instrument (i.e., gains or losses) depends on whether it has been designated and qualified as part of a hedging relationship and further, on the type of hedging relationship. For those derivative instruments that are designated and qualified as hedging instruments, the Company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. If the derivatives meet the definition of a hedge and are so designated, depending on the nature of the hedge, changes in the fair value of such derivatives will either be offset against the change in fair value of the hedged assets, liabilities, firm commitments through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative's change in fair value is recognized in earnings. As of December 31, 2017 and 2016, the Company had outstanding hedging instruments in amount of $ 294 and $ 407 respectively. At times, the Company may use derivative instruments to manage exposure to variable interest rate risk. Occasionally, the Company enters into interest rate swaps to manage its exposure to variable interest rate risk and treasury locks to manage the risk of interest rates rising prior to the issuance of debt. The Company generally enters into derivative instruments that qualify as cash flow hedges and it does not enter into derivative instruments for speculative purposes.
Revenue recognition	l. Revenue recognition: The Company generates revenues from fixed income real-estate derived from its buildings held through its subsidiaries in Switzerland (Rümlang and Geneva), Germany and Miami FL. Rental income includes minimum rents which are recognized on an accrual basis over the terms of the related leases on a straight-line basis. Lease revenue recognition commences when the lessee is given possession of the leased space and there are no contingencies offsetting the lessee's obligation to pay rent. Revenue of maintenance expenses recoveries from the tenants for mainly electricity, heating and water is reported net from the related expenses.
Contingencies	m. Contingencies: The Company periodically estimates the impact of various conditions, situations and/or circumstances involving uncertain outcomes to its financial condition and operating results. The Company accounts for contingent events as required by ASC 450 "Contingencies". ASC 450 defines a contingency as "an existing condition, situation, or set of circumstances involving uncertainty as to possible gain or loss to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur". Legal proceedings are a form of such contingencies. In accordance with ASC 450, accruals for exposures or contingencies are being provided when the expected outcome is probable. However, it is possible that future results of operations for any particular quarter or annual period could be materially affected by changes in the Company's assumptions, the actual outcome of such proceedings or as a result of the effectiveness of the Company strategies related to these proceedings.
Income taxes	n. Income taxes: The Company and its subsidiaries account for income taxes in accordance with ASC Topic 740, "Income Taxes" "ASC 740", prescribes the use of the liability method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company and its subsidiaries provide a valuation allowance, if necessary, to reduce deferred tax assets to amounts more likely than not to be realized. ASC 740 clarifies the accounting for uncertainties in income taxes by establishing minimum standards for the recognition and measurement of tax positions taken or expected to be taken in a tax return. Under the requirements of ASC 740, the Company must review all of its tax positions and make a determination as to whether its position is more-likely-than-not to be sustained upon examination by regulatory authorities. If a tax position meets the more-likely–than-not standard, then the related tax benefit is measured based on a cumulative probability analysis of the amount that is more-likely-than-not to be realized upon ultimate settlement or disposition of the underlying issue. The Company policy is to accrue interest and penalties related to unrecognized tax benefits in its financial expenses. The Company believes that its tax positions are all highly certain of being upheld upon examination. As such, the Company has not recorded a liability for uncertain tax positions
Concentrations of credit risk	o. Concentrations of credit risk: Financial instruments that potentially subject the Company and its subsidiaries to concentrations of credit risk consist principally of cash and cash equivalents, accounts receivables and long-term lease deposits. Cash and cash equivalents are invested in U.S. dollar deposits with major banks in Israel, the United States, Switzerland and Germany. Cash and cash equivalents in the United States may be in excess of insured limits and are not insured in other jurisdictions. The Company maintains cash and cash equivalents with diverse financial institutions and monitors the amount of credit exposure to each financial institution. Accounts receivable includes amounts billed to tenants and accrued expense recoveries due from tenants. The Company makes estimates of un-collectability from its accounts receivable using the specific identification method related to base rents, straight-line rent balances, expense reimbursements and other revenues. The Company also analyzes accounts receivable and historical bad debt levels, tenant credit-worthiness, payment history and current economic trends when evaluating the adequacy of the allowance for doubtful accounts. Accounts receivable are written-off when they are deemed to be uncollectible and the Company is no longer actively pursuing collection. The Company's reported net income is directly affected by the management's estimate of the collectability of accounts receivable.
Earnings (loss) per share	p. Earnings (loss) per share: Basic net earnings (losses) per share are computed based on the weighted average number of Ordinary shares outstanding during each year. Diluted net earnings (losses) per share is computed based on the weighted average number of Ordinary shares outstanding during each year, plus dilutive potential Ordinary shares considered outstanding during the year, in accordance with ASC 260, "Earning Per Share". Options and restricted shares that have been excluded from the calculations of diluted net income per share were 10,035 for the years ended December 31, 2016.
Accounting for stock-based compensation	q. Accounting for stock-based compensation: ASC Topic 718 "Compensation - Stock Compensation" "ASC 718", requires companies to estimate the fair value of share-based awards on the date of grant using an option-pricing model. The Company recognizes these compensation costs net of forfeiture rate and recognizes the compensation costs for only those shares expected to vest on a straight-line basis over the requisite service period of the award, which is generally the option vesting term of four years. The Company estimates the fair value of stock options granted using the Black-Scholes- Merton option pricing model. The option-pricing model requires a number of assumptions, of which the most significant are the expected stock price volatility and the expected option term. Expected volatility is calculated based upon actual historical stock price movements. The expected term of options granted is based upon historical experience and represents the period of time that options granted are expected to be outstanding. The risk free interest rate is based on the yield from U.S. treasury bonds with an equivalent term. The Company has historically not paid dividends and has no foreseeable plans to pay dividends. The fair value was estimated at the date of grant using the Black-Scholes model. During 2017 and 2016 there were no new grants.
Treasury Shares	r. Treasury shares: During the past years, the Company repurchased certain Ordinary shares on the open market and holds such shares as treasury shares. The Company presents the cost to repurchase treasury shares as a reduction from the shareholders' equity. From time to time the Company reissues treasury shares under the stock purchase plan, upon exercise of option and upon vesting of restricted stock units. When treasury stock is reissued, the Company accounts for the re-issuance in accordance with ASC No. 505-30, "Treasury Stock" and charges the excess of the purchase cost, including related stock-based compensation expenses, over the re-issuance price to retained earnings. The purchase cost is calculated based on the specific identification method. In case the purchase cost is lower than the re-issuance price, the Company credits the difference to additional paid-in capital.
Fair value of financial instruments	s. Fair value of financial instruments: The carrying amounts of the Company's financial instruments, including cash and cash equivalents, other accounts receivable, trade payables, other accounts payable, and accrued liabilities, approximate fair value because of their generally short-term maturities. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering such assumptions, ASC 820 establishes a three-level value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: Level 1 - Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 - Include other inputs that are directly or indirectly observable in the marketplace. Level 3 - Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Swap instruments are measured at fair value under ASC 820 on a recurring basis as of December 31, 2017 and 2016.
Comprehensive income	t. Comprehensive income: The Company accounts for comprehensive income in accordance with ASC No. 220, "Comprehensive Income". Comprehensive income generally represents all changes in shareholders' equity during the period except those resulting from investments by, or distributions to, shareholders.
Recent Accounting Pronouncements	u. Recent accounting pronouncements: In May 2014, the Financial Accounting Standards Board ("FASB") issued, Accounting Standards Update ("ASU") 2014-09, "Revenue from Contracts with Customers (Topic 606)". The guidance substantially converges final standards on revenue recognition between the FASB and the International Accounting Standards Board providing a framework on addressing revenue recognition issues and, upon its effective date, replaces almost all exiting revenue recognition guidance, including industry-specific guidance, in current U.S. generally accepted accounting principles. The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps: • Step 1: Identify the contract(s) with a customer. • Step 2: Identify the performance obligations in the contract. • Step 3: Determine the transaction price. • Step 4: Allocate the transaction price to the performance obligations in the contract. • Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation. The Company examined the new revenue recognition standard concluded standard The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Earlier application is permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Group does not anticipate that this adoption will have a significant impact on its financial position, results of operations, or cash flows. In February 2016, the FASB issued the ASU 2016-02, Leases (Topic 842). The main provision of this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The FASB decided to not fundamentally change lessor accounting. However, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within U.S. GAAP. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. This update is effective for public entities with reporting periods beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted. The company is currently evaluating the impact, if any, of the adoption of this new standard, and In January 2016, the FASB issued ASC 2016-01, Financial Instruments - Overall (Subtopic 825-10) - Recognition and Measurement of Financial Assets and Financial Liabilities. The ASU makes the following targeted changes for financial assets and liabilities: i) requiring equity investments with readily determinable fair values to be measured at fair value with changes recognized in net income; ii) simplifying the impairment assessment of equity securities without readily determinable fair values using a qualitative approach; iii) eliminating disclosure of the method and significant assumptions used to fair value instruments measured at amortized cost on the balance sheet; iv) requiring use of the exit price notion when measuring the fair value of instruments for disclosure purposes; v) for financial liabilities where the fair value option has been elected, requiring the portion of the fair value change related to instrument-specific credit risk (which includes a Company's own credit risk) to be separately reported in other comprehensive income; vi) requiring the separate presentation of financial assets and liabilities by measurement category and form of financial asset (liability) on the balance sheet or accompanying notes; and vii) clarifying that the evaluation of a valuation allowance on a deferred tax asset related to available-for-sale securities should be performed in combination with the entity's other deferred tax assets. The ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those years Early adoption of item (v) above is permitted for financial statements (both annual and interim periods) that have not yet been issued. The Company have not determined when the Company will adopt item (v) above of this ASU. The Company will adopt the remaining provisions of the ASU on January 1, 2018. The Company is evaluating the impact of this ASU on the Company's financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation: Amendments to the Consolidation Analysis (Topic 810), requiring entities to evaluate whether they should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. The revised consolidation model: (1) modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities, (2) eliminates the presumption that a general partner should consolidate a limited partnership, (3) affects the consolidation analysis of reporting entities that are involved with VIEs, and (4) provides a scope exception from consolidation guidance for reporting entities with interests in certain legal entities. The updated standard is effective for financial statements issued for annual and interim periods beginning after December 15, 2015. The updated standard may be applied retrospectively or using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption. The adoption of this guidance is not expected to have an impact on the Company's financial statements and related disclosures. In November 2016, the FASB issued ASU 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash”, which requires companies to include amounts generally described as restricted cash and restricted cash equivalents in cash and cash equivalents when reconciling beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This ASU is effective for annual and interim periods beginning after December 15, 2017. The Group does not anticipate that this adoption will have a significant impact on its financial statement.

GENERAL (Tables)

GENERAL (Tables)	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Allocation of Purchase Price for Retail Portfolio in Bavaria, Germany	The total purchase price was allocated as follows: Real estate property $ 31,399 Other assets, net 74 Total purchase price $ 31,473
Schedule of Disposal Groups, Including Discontinued Operations	The liabilities of the Video activity for the years ended December 31, 2017 and 2016, which relates to the discontinued operations and presented in the consolidated balance sheets, are summarized as follows: Year ended December 31, 2017 2016 Liabilities: Total liabilities attributed to discontinued operations $ 2,061 $ 2,061 Total liabilities $ 2,061 $ 2,061

SIGNIFICANT ACCOUNTING POLICI27

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Schedule of Property and Equipment	Depreciation is computed using the straight-line method over the estimated useful lives of the assets, as follows: Years Building 25 - 63 Buildings' improvements 5 - 20 Condominium units 30

REAL ESTATE PROPERTY, NET (Tabl

REAL ESTATE PROPERTY, NET (Tables)	12 Months Ended
	Dec. 31, 2017
Real Estate [Abstract]
Schedule of Real Estate Properties	Land Building Condominium units Currency translation adjustment Total Cost: At January 1, 2016 $ 33,874 $ 184,860 $ 19,974 $ (8,966 ) $ 229,742 Additions - 1,969 481 (5,710 ) (3,260 ) At December 31, 2016 33,874 186,829 20,455 (14,676 ) 226,482 Additions - 1,945 250 11,266 13,461 At December 31, 2017 33,874 188,774 20,705 (3,410 ) 239,943 Accumulated depreciation: At January 1, 2016 - 13,878 1,326 (302 ) 14,902 Depreciation charge for the year - 3,631 394 (135 ) 3,890 At December 31, 2016 - 17,509 1,720 (437 ) 18,792 Depreciation charge for the year - 3,696 394 335 4,425 At December 31, 2017 - 21,205 2,114 (102 ) 23,217 Real estate property, net: At December 31, 2017 33,874 167,569 18,591 (3,308 ) 216,726 At December 31, 2016 $ 33,874 $ 169,320 $ 18,735 $ (14,239 ) $ 207,690
Schedule of estimated depreciation expenses	Estimated depreciation expenses by years are as follows: Year Estimated depreciation expenses 2018 4,204 2019 4,202 2020 4,173 2021 and thereafter 168,617 $ 181,196

OTHER ASSETS, NET (Tables)

OTHER ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2017
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Other Intangible Assets	Above, below market value of in-place leases Currency translation adjustment Total Cost: At January 1, 2016 $ 1,524 $ (50 ) $ 1,474 Additions - (32 ) (32 ) At December 31, 2016 1,524 (82 ) 1,442 Additions - 55 - Disposals (315 ) (31 ) (346 ) At December 31, 2017 1,209 (58 ) 1,151 Accumulated amortization: At January 1, 2016 1,088 (84 ) 1,004 Amortization charge for the year 219 (26 ) 193 At December 31, 2016 1,307 (110 ) 1,197 Amortization charge for the year 120 40 160 Disposals (346 ) - (346 ) At December 31, 2017 1,081 (70 ) 1,011 Other assets, net: At December 31, 2017 128 12 140 At December 31, 2016 $ 217 $ 28 $ 245
Schedule of Other Intangible Assets, Amortization Expenses	Estimated amortization expenses by years are as follows: Year Estimated depreciation expenses 2018 (8 ) 2019 (26 ) 2020 11 2021 and thereafter 163 $ 140

OTHER ACCOUNTS RECEIVABLE AND30

OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Accounts Receivables and Prepaid Expenses	December 31, 2017 2016 Prepaid expenses $ 367 $ 407 Income receivable 95 95 Deposit - 6 Others 44 20 $ 506 $ 528

LONG-TERM DEPOSITS (Tables)

LONG-TERM DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2017
LONG TERM DEPOSIT [Abstract]
Schedule of Long Term Deposits	December 31, 2017 2016 Bonds deposit (1) $ 1,897 $ 1,709 Restricted account (2) 519 727 SWAP (3) 986 274 Other 81 75 $ 3,483 $ 2,785 (1) Bonds deposit of one payment of principal and interest reserves. See Note 10. (2) Restricted amount of $ 519 related to the hedging transaction, see details (3) below. (3) Hedging of cross currency interest rate swap transaction for the total amount of approximately NIS 34,200 at fixed interest rate of 6.7% in exchange for approximately $ 8,700 at fixed interest rate of 7.95% with semi-annually payments commencing on June 2016 through December 2021, the termination date. As of December 31, 2017 the hedging amount is $ 5,800.

INVESTMENTS IN COMPANIES AND 32

INVESTMENTS IN COMPANIES AND ASSOCIATES (Tables)	12 Months Ended
	Dec. 31, 2017
Investments in and Advances to Affiliates [Line Items]
Summarized data of financial statements associates	Summarized data of the financial statements of associates, unadjusted to the Company's percentage of holdings: *) December 31, 2017 2016 Assets $ 364,805 $ 285,988 Liabilities $ 446,335 $ 352,892 Income $ 41,546 $ 46,324 Net loss $ (13,206 ) $ (9,740 ) *) The information presented does not include excess cost and goodwill.
300 South Riverside Plaza [Member]
Investments in and Advances to Affiliates [Line Items]
Schedule of investment	December 31, 2017 2016 Invested in equity $ 13,142 $ 16,142 Accumulated net loss (2,855 ) (737 ) Total investment $ 10,287 $ 15,405
Two Penn Center Plaza [Member]
Investments in and Advances to Affiliates [Line Items]
Schedule of investment	December 31, 2017 2016 Invested in equity $ 4,025 $ 4,025 Distributions (672 ) (335 ) Accumulated net loss (84 ) (203 ) Total investment $ 3,269 $ 3,487

OTHER ACCOUNTS PAYABLE AND AC33

OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2017
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	December 31, 2017 2016 Employees and payroll accruals $ 206 $ 215 Accrued expenses 1,406 1,011 Government (mainly tax provision) 1,245 1,803 Advance tenants payments 684 607 Tenant security deposits 124 120 Trade payables 697 498 Total $ 4,362 $ 4,254

LONG-TERM LOANS (Tables)

LONG-TERM LOANS (Tables)	12 Months Ended
	Dec. 31, 2017
Swiss Bank Loan [Member]
Debt Instrument [Line Items]
Schedule of Long-term Loan Maturities	Maturities of the loan by years are as follows: Year ended December 31, 2018 (current maturity) $ 385 Long-term portion: 2019 385 2020 385 2021 385 2022 385 Thereafter 14,250 Total $ 15,790
Credit Suisse Loan [Member]
Debt Instrument [Line Items]
Schedule of Long-term Loan Maturities	Maturities of the loan by years are as follows: Year ended December 31, 2018 (current maturity) $ 2,049 Long-term portion: 2019 2,049 2020 2,049 2021 2,049 2022 2,049 Thereafter 80,221 Total $ 88,417
DG HYP Loan [Member]
Debt Instrument [Line Items]
Schedule of Long-term Loan Maturities	Maturities of the loan by years are as follows: Year ended December 31, 2018 (current maturity) $ 503 Long-term portion: 2019 503 2020 22,135 Total $ 22,638
City National Bank of Florida Loan [Member]
Debt Instrument [Line Items]
Schedule of Long-term Loan Maturities	Maturities of the loan by years are as follows: Year ended December 31, 2018 (current maturity) $ 228 Long-term portion: 2019 228 2020 8,701 Total $ 8,929

LONG-TERM BONDS (Tables)

LONG-TERM BONDS (Tables)	12 Months Ended
	Dec. 31, 2017
Long-term Debt, Excluding Current Maturities [Abstract]
Schedule of Long Term Bond Maturities	Maturities of the bonds by years are as follows: Year ended December 31, 2018 (current maturity) $ 2,883 Long-term portion: 2019 2,883 2020 2,883 2021 2,707 Total $ 8,473

COMMITMENTS AND CONTIGENT LIABI

COMMITMENTS AND CONTIGENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Payments	Future minimum lease commitments under non-cancelable operating leases are as follows: Year ended December 31, 2018 $ 156 2019 151 2020 118 2021 34 Total 459

TAXES ON INCOME (Tables)

TAXES ON INCOME (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of Corporate Tax Rates	Taxable income of the Company's subsidiary in Luxemburg, Switzerland and the United States is subject to the following tax rates: Year ended December 31, 2017 2016 2015 Luxemburg 29 % 29 % 29 % Switzerland 24 % 24 % 24 % United States 34 % 34 % 34 % Germany 16 % 16 % 16 %
Schedule of Deferred Tax Liabilities	Significant components of the Company and its subsidiary deferred tax assets are as follows: December 31, 2017 2016 Deferred tax assets: Net Operating losses $ 24,972 $ 28,091 Lease provision 1,511 1,472 Other 203 199 Deferred tax assets 26,686 29,762 Deferred tax liabilities: Land (5,408 ) (5,181 ) Building (10,344 ) (10,065 ) Other (605 ) (397 ) Deferred tax liabilities (16,357 ) (15,643 ) Valuation allowance (24,371 ) (27,739 ) Deferred tax liabilities, net $ (14,042 ) $ (13,620 )
Schedule of Reconciliation between Theoretical Tax Expense and Actual Tax Expense	A reconciliation between the theoretical tax expense, assuming all income is taxed at the statutory tax rate applicable to the income of the Company and the actual tax expense as reported in the statements of operations is as follows: Year ended December 31, 2017 2016 2015 Income before taxes as reported $ 4,451 $ 4,070 $ 2,811 Theoretical tax benefit computed at the statutory rate 24%, 25% and 26.5% for the years 2017, 2016 and 2015, respectively 1,068 1,018 745 Income tax at rate other than the Ltd. statutory tax rate (226 ) (163 ) 5 Tax adjustments in respect of currency translation 33 86 42 Adjustment of deferred tax balances following a decrease in statuary tax rates 4,225 1, 229 - Deferred taxes on losses and other temporary differences for which valuation allowance was provided (3,600 ) (638 ) 463 Taxes for previous years (80 ) - 45 Other non-deductible expenses 182 95 309 Income tax expense $ 1,602 $ 1,627 $ 1,609
Schedule of Income Before Taxes on Income	Income before taxes on income consists of the following: Year ended December 31, 2017 2016 2015 Domestic $ (84 ) $ (1,239 ) $ (898 ) Foreign 4,535 5,309 3,709 $ 4,451 $ 4,070 $ 2,811
Schedule of Components of Income Tax Expense	Income tax expenses are comprised as follows: Year ended December 31, 2017 2016 2015 Current $ 1,771 $ 1,801 $ 1,648 Deferred (169 ) (174 ) (39 ) $ 1,602 $ 1,627 $ 1,609 Domestic $ - $ - $ - Foreign 1,602 1,627 1,609 $ 1,602 $ 1,627 $ 1,609

SHAREHOLDERS' EQUITY (Tables)

SHAREHOLDERS' EQUITY (Tables)	12 Months Ended
	Dec. 31, 2017
Stockholders' Equity Note [Abstract]
Schedule of Stock Options Activity	A summary of the Company's stock option activity, and related information, is as follows: Year ended December 31, 2017 Amount Weighted average exercise price Weighted average remaining contractual term (years) Outstanding at the beginning of the year 81,269 $ 9.57 1.43 Granted - Forfeited (19,269 ) $ 8.41 Exercised - Outstanding at the end of the year 62,000 $ 9.93 0.83 Exercisable options at end of year 62,000 $ 9.93 0.83 Options vested and expected to vest at end of year 62,000 $ 9.93 0.83
Schedule of Restricted Shares Activity	A summary of the status of the entity's restricted shares as of December 31, 2017, and changes during the year ended December 31, 2017, is presented below: Restricted shares Shares Weighted average grant date fair value Non-vested at January 1, 2017 12,000 $ 7.42 Granted - Vested (8,000 ) $ 7.40 Non-vested at December 31, 2017 4,000 $ 7.47
Schedule of Equity-based Compensation Expense	The total equity-based compensation expense related to all of the Company's equity-based awards, recognized for the years ended December 31, 2017, 2016 and 2015, was comprised as follows: Year ended December 31, 2017 2016 2015 General and administrative 15 60 98

FINANCIAL EXPENSES, NET (Tables

FINANCIAL EXPENSES, NET (Tables)	12 Months Ended
	Dec. 31, 2017
Other Income and Expenses [Abstract]
Schedule of Other Financial Income (Expenses)	Financial income (expenses): Year ended December 31, 2017 2016 2015 Interest $ (3,143 ) $ (3,170 ) $ (2,640 ) Re-measurement of derivatives 616 22 578 Foreign currency translation adjustments (565 ) (218 ) 255 Other 323 - - $ (2,769 ) $ (3,366 ) $ (1,807 )

GEOGRAPHIC INFORMATION (Tables)

GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Schedule of total revenues and real estate property	The following present total revenues for the years ended December 31, 2017, 2016 and 2015 and real estate property as of December, 31, 2017, 2016 and 2015: 2017 2016 2015 Real estate Real estate Real estate Total revenues property, net Total revenues property, net Total revenues property, net Switzerland $ 12,288 $ 165,981 $ 12,104 $ 160,089 $ 12,503 $ 165,371 Germany 3,268 32,152 3,338 28,864 1,914 30,820 United States 1,031 18,593 896 18,737 856 18,649 $ 16,587 $ 216,726 $ 16,338 $ 207,690 $ 15,273 $ 214,840

GENERAL (Business Acquisition)

GENERAL (Business Acquisition) (Details) € in Thousands, $ in Thousands	Jun. 17, 2016USD ($)	Dec. 29, 2015USD ($)	Jul. 08, 2015USD ($)	Jul. 08, 2015EUR (€)	Jun. 02, 2015USD ($)m²	Jun. 02, 2015EUR (€)m²	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)
Business Acquisition [Line Items]
Acquisition costs, including real estate taxes									$ 2,352
300 South Riverside Plaza [Member]
Business Acquisition [Line Items]
Payment for acquisition	$ 3,000	$ 12,900
Acquisition costs		$ 242
Interest percentage in joint venture		30.00%
Interest rate percentage for additional investment	12.00%
Retail Portfolio In Germany [Member]
Business Acquisition [Line Items]
Square footage of real estate property acquired | m²					37,000	37,000
Payment for acquisition			$ 5,224		$ 26,249
Acquisition costs, including real estate taxes									$ 2,352
Retail Portfolio In Germany [Member] | Euro [Member]
Business Acquisition [Line Items]
Payment for acquisition | €				€ 4,750		€ 24,000
Acquisition costs, including real estate taxes | €										€ 2,075

GENERAL (Purchase Price Allocat

GENERAL (Purchase Price Allocation) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Real estate property			$ 31,399
Other assets, net			74
Total purchase price			31,473
Retail Portfolio In Germany [Member]
Real estate property			31,399
Other assets, net			74
Total purchase price			$ 31,473

GENERAL (Discontinued Operation

GENERAL (Discontinued Operations) (Details) - Video Activity [Member] - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Liabilities:
Other accounts payable and accrued expenses	$ 2,061	$ 2,061
Total liabilities	$ 2,061	$ 2,061

GENERAL (Narrative) (Details)

GENERAL (Narrative) (Details) - Customer Concentration Risk [Member] - Sales Revenue, Net [Member] - item	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Concentration Risk [Line Items]
Number of major customers	2	2	2
Threshold percentage for disclosure	10.00%	10.00%	10.00%
Major customer one [Member]
Concentration Risk [Line Items]
Concentration risk percentage	18.00%	18.00%	23.00%
Major customer two [Member]
Concentration Risk [Line Items]
Concentration risk percentage	16.00%	18.00%	12.00%

SIGNIFICANT ACCOUNTING POLICI45

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Cash flow hedges	$ 294	$ 407
Earnings (loss) per share
Option and restricted shares that have been excluded from the calculations of diluted net income per share		10,035
Building [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Building [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	63 years
Buildings' Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Buildings' Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Condominium Units [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years

REAL ESTATE PROPERTY, NET (Deta

REAL ESTATE PROPERTY, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cost:
Real estate property cost, beginning	$ 226,482	$ 229,742
Additions	13,461	(3,260)
Real estate property cost, ending	239,943	226,482
Accumulated depreciation:
Real estate property accumulated depreciation, beginning	18,792	14,902
Depreciation charge for the year	4,425	3,890
Real estate property accumulated depreciation, ending	23,217	18,792
Real estate property, net:
Real estate property, net	216,726	207,690	$ 214,840
Land [Member]
Cost:
Real estate property cost, beginning	33,874	33,874
Additions
Real estate property cost, ending	33,874	33,874
Accumulated depreciation:
Real estate property accumulated depreciation, beginning
Depreciation charge for the year
Real estate property accumulated depreciation, ending
Real estate property, net:
Real estate property, net	33,874	33,874
Building [Member]
Cost:
Real estate property cost, beginning	186,829	184,860
Additions	1,945	1,969
Real estate property cost, ending	188,774	186,829
Accumulated depreciation:
Real estate property accumulated depreciation, beginning	17,509	13,878
Depreciation charge for the year	3,696	3,631
Real estate property accumulated depreciation, ending	21,205	17,509
Real estate property, net:
Real estate property, net	167,569	169,320
Condominium Units [Member]
Cost:
Real estate property cost, beginning	20,455	19,974
Additions	250	481
Real estate property cost, ending	20,705	20,455
Accumulated depreciation:
Real estate property accumulated depreciation, beginning	1,720	1,326
Depreciation charge for the year	394	394
Real estate property accumulated depreciation, ending	2,114	1,720
Real estate property, net:
Real estate property, net	18,591	18,735
Currency translation adjustment [Member]
Cost:
Real estate property cost, beginning	(14,676)	(8,966)
Additions	11,266	(5,710)
Real estate property cost, ending	(3,410)	(14,676)
Accumulated depreciation:
Real estate property accumulated depreciation, beginning	(437)	(302)
Depreciation charge for the year	335	(135)
Real estate property accumulated depreciation, ending	(102)	(437)
Real estate property, net:
Real estate property, net	$ (3,308)	$ (14,239)

REAL ESTATE PROPERTY, NET (Esti

REAL ESTATE PROPERTY, NET (Estimated Depreciation Expenses) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Real Estate Properties Estimated Depreciation Expenses [Abstract]
2,018	$ 4,204
2,019	4,202
2,020	4,173
2021 and thereafter	168,617
Estimated amortization expenses	$ 181,196

OTHER ASSETS, NET (Details)

OTHER ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cost:
Cost, beginning	$ 1,442	$ 1,474
Additions		(32)
Disposals	(346)
Cost, ending	1,151	1,442
Accumulated amortization:
Accumulated amortization, beginning	1,197	1,004
Amortization charge for the year	160	193
Disposals	(346)
Accumulated amortization, ending	1,011	1,197
Other assets, net:
Intangible assets, net	140	245
Above, below market value of in-place leases [Member]
Cost:
Cost, beginning	1,524	1,524
Additions
Disposals	(315)
Cost, ending	1,209	1,524
Accumulated amortization:
Accumulated amortization, beginning	1,307	1,088
Amortization charge for the year	120	219
Disposals	(346)
Accumulated amortization, ending	1,081	1,307
Other assets, net:
Intangible assets, net	128	217
Currency translation adjustment [Member]
Cost:
Cost, beginning	(82)	(50)
Additions	55	(32)
Disposals	(31)
Cost, ending	(58)	(82)
Accumulated amortization:
Accumulated amortization, beginning	(110)	(84)
Amortization charge for the year	40	(26)
Disposals
Accumulated amortization, ending	(70)	(110)
Other assets, net:
Intangible assets, net	$ 12	$ 28

OTHER ASSETS, NET (Schedule of

OTHER ASSETS, NET (Schedule of Future Amortization) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Estimated amortization expenses:
2,018	$ (8)
2,019	(26)
2,020	11
2021 and thereafter	163
Total future amortization expense	$ 140	$ 245

OTHER ACCOUNTS RECEIVABLE AND50

OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 367	$ 407
Income receivable	95	95
Deposit		6
Others	44	20
Other accounts receivable and prepaid expenses	$ 506	$ 528

LONG-TERM DEPOSITS (Narrative)

LONG-TERM DEPOSITS (Narrative) (Details) ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2017ILS (₪)
Derivative [Line Items]
Restricted deposit for hedging transaction	$ 519
Interest Rate Swap [Member]
Derivative [Line Items]
Derivative notional amount	$ 8,700
Derivative instrument fixed interest rate percentage	7.95%	7.95%
Derivative maturity date	Dec. 31, 2021
Hedging amount	$ 5,800
Interest Rate Swap [Member] | Shekels [Member]
Derivative [Line Items]
Derivative notional amount | ₪		₪ 34,200
Derivative instrument fixed interest rate percentage	6.70%	6.70%

LONG-TERM DEPOSITS (Schedule of

LONG-TERM DEPOSITS (Schedule of Long-term Deposits) (Details) - USD ($) $ in Thousands		Dec. 31, 2017	Dec. 31, 2016
LONG TERM DEPOSIT [Abstract]
Bonds deposit	[1]	$ 1,897	$ 1,709
Restricted account	[2]	519	727
SWAP	[3]	986	274
Other		81	75
Total		$ 3,483	$ 2,785
[1]	Bonds deposit of one payment of principal and interest reserves. See Note 10.
[2]	Restricted amount of $ 519 related to the hedging transaction, see details (3) below.
[3]	Hedging of cross currency interest rate swap transaction for the total amount of approximately NIS 34,200 at fixed interest rate of 6.7% in exchange for approximately $ 8,700 at fixed interest rate of 7.95% with semi-annually payments commencing on June 2016 through December 2021, the termination date. As of December 31, 2017 the hedging amount is $ 5,800.

INVESTMENTS IN COMPANIES AND 53

INVESTMENTS IN COMPANIES AND ASSOCIATES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 17, 2016	Dec. 29, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2012
Investments in and Advances to Affiliates [Line Items]
Interest received			$ 321	$ 196
Texas Shopping Centers [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership interest percentage in cost method investment					4.00%
Purchase of cost method investment					$ 4,000
300 South Riverside Plaza [Member]
Investments in and Advances to Affiliates [Line Items]
Payment for acquisition	$ 3,000	$ 12,900
Acquisition costs		$ 242
Interest percentage in joint venture		30.00%
Interest rate percentage for additional investment	12.00%

INVESTMENTS IN COMPANIES AND 54

INVESTMENTS IN COMPANIES AND ASSOCIATES (Schedule of Equity Method Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Accumulated net loss	$ (1,677)	$ (323)	$ (31)
Two Penn Center Plaza [Member]
Schedule of Equity Method Investments [Line Items]
Invested in equity	4,025	4,025
Distributions	(672)	(335)
Accumulated net loss	(84)	(203)
Total investment	3,269	3,487
300 South Riverside Plaza [Member]
Schedule of Equity Method Investments [Line Items]
Invested in equity	13,142	16,142
Accumulated net loss	(2,855)	(737)
Total investment	$ 10,287	$ 15,405

INVESTMENTS IN COMPANIES AND 55

INVESTMENTS IN COMPANIES AND ASSOCIATES (Summarized Data of Financial Statements of Associates) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Investments In Companies And Associates Summarized Data Of Financial Statements Of Associates Details
Assets	[1]	$ 364,805	$ 285,988
Liabilities	[1]	446,335	352,892
Income	[1]	41,546	46,324
Net loss	[1]	$ (13,206)	$ (9,740)
[1]	The information presented does not include excess cost and goodwill.

OTHER ACCOUNTS PAYABLE AND AC56

OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Employees and payroll accruals	$ 206	$ 215
Accrued expenses	1,406	1,011
Government (mainly tax provision)	1,245	1,803
Advance tenants payments	684	607
Tenant security deposits	124	120
Trade payables	697	498
Other accounts payable and accrued expenses	$ 4,362	$ 4,254

LONG-TERM LOANS (Details)

LONG-TERM LOANS (Details) € in Thousands, SFr in Thousands, $ in Thousands		1 Months Ended	12 Months Ended
		Nov. 24, 2017USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017USD ($)	Dec. 31, 2017EUR (€)	Dec. 31, 2017CHF (SFr)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Restricted cash deposit	[1]			$ 519			$ 727
Swiss Bank Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Face amount | SFr						SFr 18,800
Variable interest rate spread			0.80%
Annual principal payment | SFr						376
Long-term Debt, Fiscal Year Maturity [Abstract]
2018 (current maturity)				385
2,019				385
2,020				385
2,021				385
2,022				385
Thereafter				14,250
Total				$ 15,790
Credit Suisse Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Face amount | SFr						SFr 100,000
Interest rate				0.83%	0.83%	0.83%
Annual principal payment | SFr						SFr 2,000
Long-term Debt, Fiscal Year Maturity [Abstract]
2018 (current maturity)				$ 2,049
2,019				2,049
2,020				2,049
2,021				2,049
2,022				2,049
Thereafter				80,221
Total				$ 88,417
DG HYP Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Face amount | €					€ 21,000
Gross amount | €					€ 20,474
Interest rate				2.15%	2.15%	2.15%
Quarterly principal payment | €			€ 105
Terms of loan agreement			The terms of the loan includes a debt service cover ratio requirement of between 130% and 110%, and a loan to value requirement of 70% in the first three years and 65% in the fourth and fifth years.
Long-term Debt, Fiscal Year Maturity [Abstract]
2018 (current maturity)				$ 503
2,019				503
2,020				22,135
Total				22,638
City National Bank of Florida Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Gross amount		$ 9,390		$ 15,000
Loan term			3 years
Interest rate		2.65%		2.65%	2.65%	2.65%
Default interest rate		3.25%
Depository account amount		$ 1,500
Restricted cash deposit		$ 300
Debt issuance costs				$ 184
Maturity date		Jul. 8, 2020
Quarterly principal payment		$ 19
Long-term Debt, Fiscal Year Maturity [Abstract]
2018 (current maturity)				228
2,019				228
2,020				8,701
Total				$ 8,929
[1]	Restricted amount of $ 519 related to the hedging transaction, see details (3) below.

LONG-TERM BONDS (Details)

LONG-TERM BONDS (Details) ₪ in Thousands, $ in Thousands	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015ILS (₪)
Long-term Debt, Fiscal Year Maturity [Abstract]
Total	$ 8,473	$ 10,160
Bonds [Member] | Series A Bonds [Member]
Gross amount			$ 15,700
Interest rate			6.70%	6.70%
Debt issuance costs	184	$ 384
Long-term Debt, Fiscal Year Maturity [Abstract]
2018 (current maturity)	2,883
2,019	2,883
2,020	2,883
2,021	2,707
Total	$ 8,473
Bonds [Member] | Series A Bonds [Member] | Shekels [Member]
Gross amount | ₪				₪ 60,000

COMMITMENTS AND CONTINGENT LI59

COMMITMENTS AND CONTINGENT LIABILITIES (Lease Commitments) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Future minimum lease commitments:
2,018	$ 156
2,019	151
2,020	118
2,021	34
Future minimum lease commitments	$ 459

COMMITMENTS AND CONTINGENT LI60

COMMITMENTS AND CONTINGENT LIABILITIES (Office of the Chief Scientist Commitments) (Details) - Royalty Commitment with Office of Chief Scientist [Member]	Dec. 31, 2017
Unrecorded Unconditional Purchase Obligation [Line Items]
Maximum royalties as a percent of grants received	100.00%
Minimum [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Royalty percentage	3.00%
Maximum [Member]
Unrecorded Unconditional Purchase Obligation [Line Items]
Royalty percentage	3.50%

COMMITMENTS AND CONTINGENT LI61

COMMITMENTS AND CONTINGENT LIABILITIES (Litigation) (Details) SFr in Thousands, $ in Thousands	Mar. 01, 2017USD ($)	Mar. 01, 2017CHF (SFr)	Apr. 16, 2015CHF (SFr)	Dec. 31, 2017USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2017CHF (SFr)	Dec. 31, 2015USD ($)	Dec. 31, 2017CHF (SFr)	Mar. 01, 2010CHF (SFr)
Loss Contingencies [Line Items]
Membership interest						100.00%	100.00%
Swiss Pro Capital [Member] | Option Agreement [Member] | Subsidiaries [Member]
Loss Contingencies [Line Items]
Share capital percentage for which Company's subsidiary granted option to purchase										20.00%
Consideration of option granted | SFr										SFr 315
Percentage of acquisition costs used to calculate exercise price										20.00%
Derivative Claim [Member]
Loss Contingencies [Line Items]
Damages sought								$ 41,900
Derivative Claim [Member] | Shareholders [Member]
Loss Contingencies [Line Items]
Damages sought								$ 2,800
Tenant Claim [Member]
Loss Contingencies [Line Items]
Damages and unpaid amounts sought from tenant				$ 984
Damages sought				161
Tenant Claim [Member] | CHF [Member]
Loss Contingencies [Line Items]
Damages and unpaid amounts sought from tenant | SFr			SFr 961
Damages sought | SFr			SFr 157
Tenant [Member]
Loss Contingencies [Line Items]
Damages sought						$ 71
Damages sought by the Company				$ 3,926		3,926
Monthly rent	$ 286
Reimbursement to tenant						$ 2,486
Tenant [Member] | CHF [Member]
Loss Contingencies [Line Items]
Damages sought | SFr							SFr 69
Damages sought by the Company | SFr									SFr 3,833
Monthly rent | SFr		SFr 279
Reimbursement to tenant | SFr							SFr 2,428
Aberdeen Associates LLC [Member]
Loss Contingencies [Line Items]
Loan facility					$ 7,000
Loan term					5 years
Interest rate					5.00%

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Series A [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of currency rate swap assets	$ 986	$ 274
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other liability amount	293	407
Net unrealized income	$ 293	$ 407

TAXES ON INCOME (Narrative) (De

TAXES ON INCOME (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Tax rate	24.00%	25.00%	26.50%
Statutory tax rate for next fiscal year	24.00%
Corporate statutory tax rate on 2018	23.00%
Open tax year	2,013
Unrecognized tax benefits
Change in unrecognized tax benefits
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	21.00%
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	35.00%
Luxemburg [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	29.00%	29.00%	29.00%
Switzerland [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	24.00%	24.00%	24.00%
United States [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	34.00%	34.00%	34.00%
Net operating losses carryforward	$ 37,000
Net operating loss carryforward expiration period	20 years
Expiration of operating loss carry forward	Dec. 31, 2037
Germany [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	16.00%	16.00%	16.00%
Israel [Member]
Operating Loss Carryforwards [Line Items]
Net operating losses carryforward	$ 68,000

TAXES ON INCOME (Schedule of De

TAXES ON INCOME (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Net Operating losses	$ 24,972	$ 28,091
Lease provision	1,511	1,472
Other	203	199
Deferred tax assets	26,686	29,762
Deferred tax liabilities:
Land	(5,408)	(5,181)
Building	(10,344)	(10,065)
Other	(605)	(397)
Deferred tax liabilities	(16,357)	(15,643)
Valuation allowance	(24,371)	(27,739)
Deferred tax liabilities, net	$ (14,042)	$ (13,620)

TAXES ON INCOME (Reconciliation

TAXES ON INCOME (Reconciliation of Theoretical Tax Expense to Actual Tax Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income before taxes as reported	$ 4,451	$ 4,070	$ 2,811
Statutory tax rate	24.00%	25.00%	26.50%
Increase (reduction) in income taxes resulting from
Theoretical tax benefit computed at the statutory rate 24%, 25% and 26.5% for the years 2017, 2016 and 2015, respectively	$ 1,068	$ 1,018	$ 745
Income tax at rate other than the Ltd. statutory tax rate	(226)	(163)	5
Tax adjustments in respect of currency translation	33	86	42
Adjustment of deferred tax balances following a decrease in statuary tax rates	4,225	1,229
Deferred taxes on losses and other temporary differences for which valuation allowance was provided	(3,600)	(638)	463
Taxes for previous years	(80)		45
Other non-deductible expenses	182	95	309
Income tax expense	$ 1,602	$ 1,627	$ 1,609

TAXES ON INCOME (Schedule of In

TAXES ON INCOME (Schedule of Income (Loss) Before Income Taxes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income (loss) before taxes on income:
Domestic	$ (84)	$ (1,239)	$ (898)
Foreign	4,535	5,309	3,709
Income before taxes on income	$ 4,451	$ 4,070	$ 2,811

TAXES ON INCOME (Schedule of 67

TAXES ON INCOME (Schedule of Income Tax Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income tax expenses:
Current	$ 1,771	$ 1,801	$ 1,648
Deferred	(169)	(174)	(39)
Income tax expense	1,602	1,627	1,609
Income tax expenses by jurisdiction:
Domestic
Foreign	1,602	1,627	1,609
Income tax expense	$ 1,602	$ 1,627	$ 1,609

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2014	Nov. 30, 2013	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued for real estate investment					1,300,580
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			4 years
Expiration term			7 years
Available for grant			511,260
Aggregate intrinsic value of options outstanding			$ 0	$ 0
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				2 years
Additional shares authorized	150,000	50,000
Ordinary shares reserved for issuance			183,690
Restricted Stock [Member] | Year One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			50.00%
Restricted Stock [Member] | Year Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage			50.00%

SHAREHOLDERS' EQUITY (Schedule

SHAREHOLDERS' EQUITY (Schedule of Stock Option Activity) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Amount
Outstanding at the beginning of the year	81,269
Granted
Forfeited	(19,269)
Exercised
Outstanding at the end of the year	62,000	81,269
Exercisable options at the end of the year	62,000
Options vested and expected to vest at end of year	62,000
Weighted average exercise price
Outstanding at the beginning of the year	$ 9.57
Forfeited	8.41
Outstanding at the end of the year	9.93	$ 9.57
Exercisable options at the end of the year	9.93
Options vested and expected to vest at end of year	$ 9.93
Weighted average Remaining contractual term (years)
Outstanding	9 months 29 days	1 year 5 months 5 days
Exercisable	9 months 29 days
Options vested and expected to vest	9 months 29 days

SHAREHOLDERS' EQUITY (Schedul70

SHAREHOLDERS' EQUITY (Schedule of Restricted Shares Activity) (Details)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Shares
Non-vested, beginning balance	12,000
Granted
Vested	8,000
Non-vested, ending balance	4,000
Weighted average grant date fair value
Non-vested, beginning balance | $ / shares	$ 7.42
Vested | $ / shares	7.40
Non-vested, ending balance | $ / shares	$ 7.47

SHAREHOLDERS' EQUITY (Schedul71

SHAREHOLDERS' EQUITY (Schedule of Equity-Based Compensation Expense) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
General and Administrative from Continued Operations [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Equity-based compensation expense	$ 15	$ 60	$ 98

FINANCIAL EXPENSES, NET (Detail

FINANCIAL EXPENSES, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Financial income:
Interest	$ (3,143)	$ (3,170)	$ (2,640)
Re-measurement of derivatives	616	22	578
Foreign currency translation adjustments	(565)	(218)	255
Other	323
Total financial income	$ (2,769)	$ (3,366)	$ (1,807)

GEOGRAPHIC INFORMATION (Schedul

GEOGRAPHIC INFORMATION (Schedule of Revenues and Real Estate Property) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 16,587	$ 16,338	$ 15,273
Real Estate Property, net	216,726	207,690	214,840
Switzerland [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	12,288	12,104	12,503
Real Estate Property, net	165,981	160,089	165,371
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	3,268	3,338	1,914
Real Estate Property, net	32,152	28,864	30,820
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	1,031	896	856
Real Estate Property, net	$ 18,593	$ 18,737	$ 18,649

MAJOR SHAREHOLDERS AND RELATE74

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS (Details) € in Thousands, $ in Thousands

May 16, 2016USD ($)

Sep. 17, 2014USD ($)

Dec. 19, 2013USD ($)

Dec. 19, 2013EUR (€)

Mar. 31, 2017USD ($)

Jul. 24, 2015EUR (€)

Dec. 31, 2017USD ($)

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2014

Dec. 31, 2013USD ($)shares

Jul. 13, 2013USD ($)

Related Party Transaction [Line Items]

Proceeds from related party guarantee

$ 5,118

Shares issued for real estate investment | shares

1,300,580

Deduction from the gross amount

232

Finance expense

140

Flamingo South Beach Condominium [Member]

Related Party Transaction [Line Items]

Time period

3 years

Aggregate price of consideration from sale of units

$ 6,411

Affiliated Entity [Member]

Related Party Transaction [Line Items]

Monthly rent payment for property leased from related party

$ 25

Annual percentage increase for rent

3.00%

Majority Shareholder [Member]

Related Party Transaction [Line Items]

Ownership percentage

73.00%

Transaction amount

$ 7,153

Time period

3 years

Majority Shareholder [Member] | Financial Guarantee [Member]

Related Party Transaction [Line Items]

Maximum annual guarantee obligation under credit agreement carrying value

$ 20,000

Maximum aggregate guarantee obligation under credit agreement carrying value

$ 60,000

Term of loan guarantee

3 years

Proceeds from related party guarantee | €

€ 5,000

Related party yearly rate

0.76%

Director [Member]

Related Party Transaction [Line Items]

Reimbursement of reasonable work-related expenses | €

€ 12

Director [Member] | Maximum [Member]

Related Party Transaction [Line Items]

Monthly consulting fee

$ 4

Controlling Shareholder [Member]

Related Party Transaction [Line Items]

Proceeds from related party guarantee

$ 5,118

Maturity date

Apr. 1, 2019

Reserve from transaction with controlling shareholder

$ 372

Chief Executive Officer [Member] | Subsidiaries [Member]

Related Party Transaction [Line Items]

Salary to CEO

$ 200

170

Chief Executive Officer [Member] | Maximum [Member] | Subsidiaries [Member]

Related Party Transaction [Line Items]

Reimbursement of health insurance expenses

24

24

Reimbursement of reasonable work-related expenses

$ 50

$ 50