Optibase (OBAS) 20-F 27 Apr 21 2020 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2020shares
Document and Entity Information [Abstract]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Entity Registrant Name	OPTIBASE LTD
Entity Central Index Key	0001077618
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding	5,216,256
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	IL
Entity File Number	000-29992
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 28,820	$ 12,564
Restricted cash	835	32
Trade receivables (net of allowance for credit losses of $ 178 and $ 285 at December 31, 2020 and 2019, respectively)	216	536
Other accounts receivable and prepaid expenses	569	628
Bonds related deposits	2,564
Property held for sale		29,727
Total current assets	33,004	43,487
LONG-TERM INVESTMENTS:
Long-term deposits	98	2,678
Right-of-use assets	272	376
Investments in companies and associates	9,269	11,657
Total long-term investments	9,639	14,711
Real estate property, net	192,054	181,109
Total assets	234,697	239,307
CURRENT LIABILITIES:
Current maturities of long-term loans and bonds	6,447	28,803
Other accounts payable and accrued expenses	4,144	5,028
Operating lease liabilities	166	142
Total liabilities attributed to discontinued operations	2,061	2,061
Total current liabilities	12,818	36,034
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM LIABILITIES:
Deferred tax liabilities	15,095	13,801
Land lease liability, net	7,054	6,110
Operating lease liabilities	146	257
Long-term loans, net of current maturities	112,923	108,406
Long-term bonds, net of current maturities		2,845
Total long-term liabilities	135,218	131,419
SHAREHOLDERS' EQUITY:
Share capital - Ordinary shares of NIS 0.65 par value - Authorized: 6,000,000 shares at December 31, 2020 and 2019; Issued: 5,216,256 shares at December 31, 2020 and 2019; Outstanding: 5,198,361 shares at December 31, 2020 and 2019	994	994
Additional paid-in capital	138,187	138,187
Treasury shares: 17,895 shares at December 31, 2020 and 2019	(87)	(87)
Other reserves	2,759	(428)
Accumulated deficit	(80,389)	(86,822)
Total shareholders' equity of Optibase Ltd.	61,464	51,844
Non-controlling interests	25,197	20,010
Total shareholders' equity	86,661	71,854
Total liabilities and shareholders' equity	$ 234,697	$ 239,307

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) $ in Thousands	Dec. 31, 2020USD ($)shares	Dec. 31, 2020₪ / shares	Dec. 31, 2019USD ($)shares	Dec. 31, 2019₪ / shares
Statement of Financial Position [Abstract]
Allowance for credit losses | $	$ 178		$ 285
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	5,216,256		5,216,256
Ordinary Shares, shares outstanding	5,198,361		5,198,361
Treasury shares, shares	17,895		17,895

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Fixed income from real estate rent	$ 14,874	$ 16,144	$ 16,608
Costs and expenses:
Cost of real estate operations	2,548	2,948	2,991
Real estate depreciation, amortization and impairment	3,946	4,321	4,317
General and administrative	2,523	3,047	3,500
Total costs and expenses	9,017	10,316	10,808
Gain on sale of operating properties	9,127
Operating income	14,984	5,828	5,800
Other income	454	722	607
Financial expenses, net	(1,781)	(2,630)	(2,882)
Income before taxes on income	13,657	3,920	3,525
Taxes on income	(2,162)	(1,472)	(1,464)
Equity share in losses of associates, net	(2,079)	(2,321)	(2,765)
Net income (loss)	9,416	127	(704)
Net income attributable to non-controlling interest	2,983	2,120	2,077
Net income (loss) attributable to Optibase Ltd.	$ 6,433	$ (1,993)	$ (2,781)
Net earnings per share:
Basic and diluted net earnings (loss) per share	$ 1.24	$ (0.38)	$ (0.54)
Weighted average number of shares used in computing basic net earnings per share:	5,186,273	5,186,273	5,185,352
Weighted average number of shares used in computing diluted net earnings per share	5,186,273	5,186,273	5,185,352

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 9,416	$ 127	$ (704)
Foreign currency translation adjustments	5,323	393	(1,052)
Financial liability related to hedging	68	137	88
Total comprehensive income (loss)	14,807	657	(1,668)
Net income attributable to non-controlling interests	(2,983)	(2,120)	(2,077)
Other comprehensive loss (income) attributable to non-controlling interests	(2,204)	(283)	207
Comprehensive income (loss) attributable to Optibase Ltd.	$ 9,620	$ (1,746)	$ (3,538)

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, 2017	$ 993	$ 138,170	$ (87)	$ 9	$ (82,048)	$ 57,037	$ 20,031	$ 77,068
Stock-based compensation		17				17		17
Issuance of shares upon exercise of stock options	1					1		1
Dividend to non-controlling interests							(2,067)	(2,067)
Other comprehensive income loss				(757)		(757)	(207)	(964)
Equity component of transaction with controlling shareholder				42		42		42
Net income (loss)					(2,781)	(2,781)	2,077	(704)
Balance at Dec. 31, 2018	994	138,187	(87)	(706)	(84,829)	53,559	19,834	73,393
Dividend to non-controlling interests							(2,227)	(2,227)
Other comprehensive income loss				247		247	283	530
Equity component of transaction with controlling shareholder				31		31		31
Net income (loss)					(1,993)	(1,993)	2,120	127
Balance at Dec. 31, 2019	994	138,187	(87)	(428)	(86,822)	51,844	20,010	71,854
Other comprehensive income loss				3,187		3,187	2,204	5,391
Net income (loss)					6,433	6,433	2,983	9,416
Balance at Dec. 31, 2020	$ 994	$ 138,187	$ (87)	$ 2,759	$ (80,389)	$ 61,464	$ 25,197	$ 86,661

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 9,416	$ 127	$ (704)
Adjustments required to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, amortization and impairment	3,946	4,321	4,317
Gain on sale of operating properties	(9,127)
Stock-based compensation related to options and unvested shares			17
Decrease (increase) in trade receivables	353	(105)	(109)
Equity share in losses of associates, net	2,079	2,321	2,765
Decrease in deferred tax liabilities	(22)	(140)	(173)
Increase (decrease) in land lease liabilities	319	(106)	(108)
Increase (decrease) in lease liabilities	(43)	257
Decrease (increase) in right-of-use assets	104	(376)
Decrease (increase) in other accounts receivable and prepaid expenses	79	(665)	965
Increase (decrease) in accrued expenses, other accounts payable and other liabilities	(1,986)	1,763	(103)
Net cash provided by operating activities	5,118	7,397	6,867
Cash flows from investing activities:
Investment in real estate property	(989)	(1,109)	(2,764)
Proceeds from associates, net	309	398	414
Decrease (increase) in other long-term deposits	(9)	116	105
Proceeds from sale of real estate property	41,483
Net cash provided by (used in) investing activities	40,794	(595)	(2,245)
Cash flows from financing activities:
Repayment of long-term bank loans and bonds	(28,221)	(5,958)	(6,558)
Dividend paid to non-controlling interests		(2,227)	(2,067)
Repayment of controlling shareholders' loan	(2,618)		(2,500)
Net cash used in financing activities	(30,839)	(8,185)	(11,125)
Exchange differences on balances of cash and cash equivalents	1,986	112	(190)
Increase (decrease) in cash and cash equivalents and restricted cash	17,059	(1,271)	(6,693)
Cash and cash equivalents and restricted cash at the beginning of the year	12,596	13,867	20,560
Cash and cash equivalents and restricted cash at the end of the year	29,655	12,596	13,867
(a) Supplemental disclosures of cash flows information:
Cash and cash equivalents	28,820	12,564	13,836
Restricted cash	835	32	31
Total cash and cash equivalents and restricted cash	29,655	12,596	13,867
(b) Supplemental cash flows activities:
Cash paid during the year for: Taxes	3,040	1,433	2,521
Cash paid during the year for: Interest	1,492	2,320	2,484
(c) Significant non-cash transactions:
Net lease liabilities arising from obtaining right of use assets	$ 39	$ 22

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	NOTE 1:- GENERAL a. Optibase Ltd. (the "Company") was incorporated and commenced operations in 1990. The Company, through its subsidiaries, operate in fixed-income real-estate. The Company is engaged with purchasing and operating of real estate properties intended for leasing and resale primarily for the purpose of commercial, industrial, office space use as well as for residential purposes. 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. (Collectively, the "Video Activity"). Following the sale of the Video Activity, the Company's only operation is the fixed-income real-estate. As of December 31, 2020, the Company manages its activity through four 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, Optibase RES SARL in Luxembourg which was incorporated in June, 2018 and OPCTN SA, a Luxembourg company owned 51% by the Company which was incorporated in February 2011 ("Subsidiaries"), (collectively, the "Group"). b. Investments in associates: 1. Retail portfolio in Bavaria, Germany: On December 18, 2014 the Company through 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 EUR 24,000,000 (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 EUR 4,750,000 (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 EUR 2,075,000 (approximately $ 2,352 during 2015) and presented in the consolidated statements of operations as other operating costs. 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 On February 11, 2020 the Company by its wholly owned European subsidiary, Optibase Bavaria GmbH & Co. KG, had entered into a definitive agreement with an unrelated third party buyer, to sell its retail portfolio in Germany, for an aggregate cash consideration of EUR 35,000,000 (approximately $ 38,900). The closing of the transaction was subject, among other things, to customary conditions, including (i) the waiver of a right of first refusal by the main tenant; and (ii) the waiver by the local municipalities of their right of first refusal on each of the properties. The closing was during the second and third quarters of 2020. As of December 31, 2019 the property net balance was approximately $ 29,700 (including fair value in excess of book value related to property net and contracts with customers in amount of $ 157) and was presented in the Company's balance sheet as property held for sale. 2. 300 South Riverside Plaza, Chicago: On December 29, 2015, the Company through its subsidiary, Optibase Inc., completed an investment in 300 River Holdings, LLC, (the "Joint Venture Company") which beneficially owns the rights to a 23-story Class A office building located at 300 South Riverside Plaza in Chicago under a 99 year ground lease expiring in 2114. The Company invested $ 12,900 in exchange for a thirty percent (30%) interest in the Joint Venture Company. In addition to the Purchase Price, the Company incurred acquisition costs of approximately $ 242. On June 17, 2016, and in accordance with the Company's initial investment agreement, the Company had invested an additional amount of $ 3,000 which accrued interest of 12% per annum, and was distributed back to the Company on November 21, 2017. c. The Company has one major tenant, 20% of the Company revenues for the year ended 2020, and two major tenants: 18% and 16% of the Company revenues in each of the years ended December 31, 2019, 2018. No other tenants accounted for more than 10% of the Company revenues. For details regarding a dispute and an out-of-court settlement with major tenant of which OPCTN's subsidiary, Eldista Gmbh (“Eldista”), see Note 12d(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, 2020 and 2019, which relates to the discontinued operations and presented in the consolidated balance sheets, are summarized as follows: Year ended December 31, 2020 2019 Liabilities: Total liabilities attributed to discontinued operations $ 2,061 $ 2,061 e. The duration, scope and effects of the ongoing COVID-19 pandemic, government and other third-party responses to it, and the related macroeconomic effects, including to the Company's business and the business of the Company's suppliers and customers are uncertain, rapidly changing and difficult to predict. The Company considered the impact of COVID-19 on the estimates and assumptions and determined that there were no material adverse impacts on the consolidated financial statements for the period ended December 31, 2020. As events continue to evolve and additional information becomes available, the Company’s estimates and assumptions may change in future periods.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
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. Actual results could differ from those estimates. 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 U.S. dollar, CHF and EUR. 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: Real estate properties 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, right-of-use assets and intangible assets: The Group's long-lived assets (assets group) to be held or used, including property and equipment, right of use assets and intangible assets subject to amortization are reviewed for impairment in accordance with ASC 360, "Property, Plant and Equipment" and ASC 350, “Intangibles - Goodwill and other”, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In assessing the recoverability of long-lived assets, the Company makes judgments regarding whether impairment indicators exist based on legal factors, market conditions and operating performances of assets or asset groups. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured by the carrying amount of the assets exceeds the fair value of the assets. 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 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, 2020 an amount of $247 was recorded as impairment and as of December 31, 2019, 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. Other non-marketable equity securities without readily determinable fair value in which the Company does not have a controlling interest or significant influence are recorded at their original cost and adjusted for observable price changes for identical or similar instruments less any impairment. These equity securities are presented as other non-current assets in the Company’s consolidated balance sheets. The Company reviews its unconsolidated non-marketable equity investments for potential impairment or other adjustments, which generally involves an analysis of the facts and changes in circumstances influencing the investments. 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. Leases The Company determines if an arrangement is a lease at inception. Contracts containing a lease are further evaluated for classification as an operating or finance lease. In determining the leases classification the Company assesses among other criteria: (i) 75% or more of the remaining economic life of the underlying asset is a major part of the remaining economic life of that underlying asset; and (ii) 90% or more of the fair value of the underlying asset comprises substantially all of the fair value of the underlying asset. For leases with terms greater than 12 months, the Company records the right-of-use asset and liability at commencement date based on the present value of lease payments according to their term. As lessor, the Company elected to combine the lease components (base and variable rent) and non-lease components (reimbursement of common area maintenance expenses) from its operating lease agreements and account for the components as a component in accordance with ASC 842. l. 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, 2020 and 2019, the Company had outstanding hedging instruments in the amount of $ 332 and $ 458, respectively, which were included in short-term assests and in long-term assets, respectively and outstanding hedging instruments in the amount of $ 68, which were included as of December 31, 2019 in short-term liabilities. At times, the Company may use derivative instruments to manage exposure to variable interest and currency rate risk. Occasionally, the Company enters into interest and currency rate swaps to manage its exposure to variable interest and currency rate risk and treasury locks to manage the risk of interest and currency 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. m. Revenue recognition: The Company is a lessor under non-cancellable operating leases and generates revenues from fixed income real-estate according to ASC 842 which 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 contract conveys the rights to control the use of the asset to the lessee for a period in exchange to considerations. n. 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. o. 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 tax expenses. The Company believes that its tax positions are all highly certain of being upheld upon examination. As such, as of December 31, 2020 and 2019 the Company has not recorded a liability for uncertain tax positions. p. 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 and future economic conditions when evaluating the adequacy of the allowance for credit losses . 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. q. 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". r. 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. During 2020 and 2019 there were no new grants. s. 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. t. 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, 2020 and 2019. u. 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. v. Recently adopted accounting pronouncements: In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses on Financial Instruments”, which requires that expected credit losses relating to financial assets measured on an amortized cost basis and available for sale debt securities be recorded through an allowance for credit losses. ASU 2016-13 limits the amount of credit losses to be recognized for available for sale debt securities to the amount by which carrying value exceeds fair value and also requires the reversal of previously recognized credit losses if fair value increases. The Company adopted Topic 326 effective January 1, 2020, based on the composition of the Company’s trade receivables, investment portfolio and other financial assets, current economic conditions, historical credit loss activity and future economic conditions. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements. w. Recent accounting pronouncements issued: In December 2020, the FASB issued ASU No. 2020-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes”, which simplifies the accounting for income taxes. ASU 2020-12 is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2020. The Company is currently evaluating the impact of the new guidance on the Company’s consolidated financial statements.

REAL ESTATE PROPERTY, NET

REAL ESTATE PROPERTY, NET	12 Months Ended
	Dec. 31, 2020
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, 2019 $ 33,874 $ 190,830 $ 21,413 $ (6,618 ) $ 239,499 Additions - 934 173 1,981 3,088 Reclassification – property held for sale (7,559 ) (26,178 ) - - (33,737 ) At December 31, 2019 26,315 165,586 21,586 (4,637 ) 208,850 Additions - 615 374 19,692 20,681 Disposals - - (2,238 ) - (2,238 ) At December 31, 2020 26,315 166,201 19,722 15,055 227,293 Accumulated depreciation and impairment: At January 1, 2019 - 25,136 2,506 (492 ) 27,150 Depreciation charge for the year - 3,948 392 417 4,757 Reclassification - property held for sale - (4,166 ) - - (4,166 ) At December 31, 2019 - 24,918 2,898 (75 ) 27,741 Depreciation and impairment charge for the year - 3,221 725 3,552 7,498 At December 31, 2020 - 28,139 3,623 3,477 35,239 Real estate property, net: At December 31, 2020 $ 26,315 $ 138,062 $ 16,099 $ 11,578 $ 192,054 At December 31, 2019 $ 26,315 140,668 $ 18,688 $ (4,562 ) $ 181,109 Balance of property held for sale is comprised of Retail portfolio in Bavaria, Germany. For details regarding the portfolio sale agreement , see Note 1b(1). Following the review of the expected undiscounted future cash flows an impairment ralets to the Condominium units, in the amount of $247 was recorded in 2020. Estimated depreciation expenses by years are as follows: Year Estimated depreciation expenses 2021 3,901 2022 3,901 2023 3,901 2024 3,901 2025 and thereafter 150,135 165,739

OTHER ASSETS, NET

OTHER ASSETS, NET	12 Months Ended
	Dec. 31, 2020
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, 2019 $ 147 $ (70 ) $ 77 Additions - (3 ) (3 ) Reclassification – property held for sale (74 ) - (74 ) At December 31, 2019 73 (73 ) - Additions - - - At December 31, 2020 - - - Accumulated amortization: At January 1, 2019 13 (77 ) (64 ) Amortization charge for the year (19 ) 4 (15 ) Reclassification – property held for sale 79 - 79 At December 31, 2019 73 (73 ) - Amortization charge for the year - - - At December 31, 2020 - - - Other assets, net: At December 31, 2020 $ - $ - $ - At December 31, 2019 $ - $ - $ - Intangible assets consist of lease contracts with tenants deriving from the purchase of a building complex in Geneva in 2011 and purchase of retail portfolio in Germany. See Note 1b(1). Balance of property held for sale is comprised of Retail portfolio in Bavaria, Germany. For details regarding the portfolio sale agreement, see Note 1b(1).

OTHER ACCOUNTS RECEIVABLE AND P

OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 Prepaid expenses $ 38 $ 113 Income receivable 442 257 Others 89 258 $ 569 $ 628

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2020
DEPOSIT [Abstract]
DEPOSITS	NOTE 6:- DEPOSITS Short-term deposits : December 31, 2020 2019 Bonds deposit (1) $ 2,045 $ - Restricted account (2) 187 - SWAP (3) 332 - $ 2,564 $ - Long-term deposits : December 31, 2020 2019 Bonds deposit (1) $ - $ 1,903 Restricted account (2) - 232 SWAP (3) - 458 Other 98 85 $ 98 $ 2,678 (1) Bonds deposit of one payment of principal and interest reserves. See Note 11. (2) Restricted amount 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 34,200,000 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, 2020, the hedging amount is $ 1,455.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
Lessee Disclosure [Abstract]
LEASES	NOTE 7:- LEASES The Company has operating leases for office space and vehicles that expire through 2023. Below is a summary of our operating right-of-use assets and operating lease liabilities under ASC 842 as of December 31, 2020 and December 31, 2019: December 31, 2020 2019 Operating right-of-use assets $ 272 $ 376 Operating lease liabilities, current 166 142 Operating lease liabilities long-term 146 257 Total operating lease liabilities $ 312 $ 399 Cash paid for amounts included in the measurement of operating lease liabilities was $162 and $130 during the years ended December 31, 2020 and 2019, respectively. Minimum lease payments for our right of use assets over the remaining lease periods as of December 31, 2020, are as follows: Year ended December 31, 2021 $ 170 2022 129 2023 28 Total undiscounted lease payments 327 Less - interest (15 ) Present value of lease liabilities $ 312 The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of December 31, 2020: Remaining lease term and discount rate: Weighted average remaining lease term (years) 1.75 Weighted average discount rate 3.39 % The Company as lessor: Future minimum rental payments to be received under operating leases: Year ended December 31, 2021 $ 5,279 2022 1,917 2023 3,360 2024 187 2025 and thereafter 2,630 Total future minimum rentals $ 13,373

INVESTMENTS IN COMPANIES AND AS

INVESTMENTS IN COMPANIES AND ASSOCIATES	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN COMPANIES AND ASSOCIATES	NOTE 8:- 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, 2020 2019 Invested in equity $ 4,025 $ 4,025 Distributions (1,794 ) (1,485 ) Accumulated net income 1,110 710 Total investment $ 3,341 $ 3,250 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 subsidiary, Optibase Inc., completed an investment in 300 River Holdings, LLC, (the "Joint Venture Company") which beneficially owns the rights to a 23-story Class A office building located at 300 South Riverside Plaza in Chicago under a 99 year ground lease expiring in 2114. The Company invested $ 12,900 in exchange for a thirty percent (30%) interest in the Joint Venture Company. In addition to the Purchase Price, the Company capitalized acquisition costs of approximately $ 242. See Note 1b(2). On June 17, 2016, and in accordance with the Company's initial investment agreement, the Company had invested an additional amount of $ 3,000 which accrued interest of 12% per annum, and was distributed back to the Company on November 21, 2017. December 31, 2020 2019 Invested in equity $ 13,142 $ 13,142 Accumulated net loss (11,214 ) (8,735 ) Total investment $ 1,928 $ 4,407 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, 2020 2019 Assets $ 321,153 $ 336,310 Liabilities $ 459,620 $ 461,448 Income $ 49,708 $ 56,941 Net loss $ (11,947 ) $ (11,106 ) *) 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, 2020
Payables and Accruals [Abstract]
OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES	NOTE 9:- OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES December 31, 2020 2019 Employees and payroll accruals $ 308 $ 245 Accrued expenses 2,640 2,597 Government (mainly tax provision) 264 878 Advance tenants payments 397 504 Tenant security deposits 116 124 Trade payables 397 591 Others 22 89 Total $ 4,144 $ 5,028

LONG-TERM LOANS

LONG-TERM LOANS	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
LONG-TERM LOANS	NOTE 10:- 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 18,800,000 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 376,000 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, 2021 (current maturity) 427 Long-term portion: 2022 427 2023 427 2024 427 2025 427 Thereafter 14,483 Total 16,191 b. On October 2011, OPCTN and Eldista entered into a CHF 100,000,000 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 was 0.83%. The loans are repaid at a rate of CHF 2,000,000 per year and are secured by a first mortgage over the property and by a pledge of Eldista's shares. On January 8, 2020 Eldista has signed a new framework agreement for a mortgage loan at an amount of credit facility of CHF 83,500,000, the amount of the credit facility was reduced by the sum amortization and other loan repayment made. According to the new framework agreement, the credit facility may be utilized as follows: (i) mortgage loans in CHF with terms of 1 to max 10 years; (ii) mortgage-backed fixed advanced in CHF with terms of 3, 6 or 12 months; (iii) mortgage-backed fixed advanced in USD with terms of max 3 months. When use in USD may only occur if the resulting foreign exchange risk is hedged through a separate OTC transaction in the same currency and with the same term and amount. The loan bears a variable interest rate based on current money and capital markets in Switzerland plus the bank's customary margins. The annual interest margin rate is 0.75% for drawings in CHF or 1.05% for drawings in USD. The loan is repaid at a rate of CHF 2,000,000 per year on a quarterly basis and secured by a pledge of Eldista's shares. The Company is required to meet certain covenants under this mortgage loan. As of December 31, 2020, the Company met these covenants. Maturities of the loan by years are as follows: Year ended December 31, 2021 (current maturity) 2,266 Long-term portion: 2022 2,266 2023 2,266 2024 2,266 2025 2,266 Thereafter 81,886 Total 90,950 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 EUR 21,000,000 of which the Company utilized EUR 20,474,000. The effective interest rate was closed at 2.15%. The loan is repaid in quarterly installments of EUR 105,000 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, 2019, the Company met these covenants. During May and June 2020, as part of the Company portfolio sale transaction, the Company repaid the loan. d. On July 8, 2015, the Company subsidiary, Optibase Inc., entered into a loan agreement with City National Bank of Florida (“CNB”) for a gross amount of $ 15,000 for the financing of 25 condominium units the Company owns in Miami and Miami Beach, Florida. The loan is secured by a senior mortgage over the condominium units. The loan was taken for a term of three (3) years, with an interest rate of Libor 30-day-rate plus 2.65%. Interest is paid monthly commencing August 1, 2015, and the principal is reduced in six-month intervals beginning July 2016. On November 24, 2017 Optibase Inc., refinanced the loan. Under the refinancing, the existing principle loan balance of $ 9,390 bears an interest rate of Libor 30- day rate plus 2.65% which may be increased to 30-day Libor plus 3.25% if Optibase Inc. or its subsidiary, fail to maintain depository accounts with totaling $ 1,500. On November 21, 2019 Optibase Inc., prolonged the amortization of the outstanding principal balance of the loan in amount of $ 8,903, all terms remain unchanged. The principal of the Loan is amortized on a monthly basis with principal payments of approximately $ 19 per month plus accrued interest until the loan matures on January 4, 2021 when all remaining principal and interest become due and payable. On March 31, 2020 Optibase Inc., refinanced the loan. Under the refinancing, the existing principle loan balance of $ 8,828 bears an interest rate of Libor 30- day rate plus 2.65%, however, in no event shall the interest rate be less than 4.65%. The loan maturity date is September 30, 2021. Optibase Inc. shall have the right to extend the maturity date to March 31, 2023 if no event of default has occurred and subject to certain other conditions. Optibase Inc., will pay fee in amount equal to 2% of the amount of the deficiency if Optibase Inc. or its subsidiary, fail to maintain depository accounts with totaling $ 1,500, this covenant shall be measured for compliance annually, commencing December 2020, and continuing on December 31 of each calender year thereafter. The securities for the loan include a restricted cash deposit of approximately $ 550 Interest reserve. On May 2020 Optibase Inc., repaid an amount of $ 2,271. As of December 31, 2020 Loan issuance costs of $ 117 reported in the balance sheet as a direct deduction from the gross amount of the loan and are amortized in accordance with the loan payments. The covenants under the new financing agreement are substantially the same as under the previous loan agreement. As of December 31, 2020, the Company met these covenants. Maturities of the loan by years are as follows: Year ended December 31, 2021 (current maturity) 655 Long-term portion: 2022 - 2023 5,782 Total 5,782 e. For information regarding a loan received from the controlling shareholder, see Note 18b(5).

BONDS

BONDS	12 Months Ended
	Dec. 31, 2020
Long Term Debt Noncurrent Abstract
BONDS	NOTE 11:- BONDS In August 2015, the Company issued gross amount of NIS 60,000,000 (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. The debt issuance costs are amortized in accordance with the bonds payments. As of December 31, 2020 the unamortized amount of the debt issuance costs is $ 17. The Company is required to meet certain covenants under this bonds. As of December 31, 2020, the Company met these covenants. The maturities date of the bonds in the amount of $ 3,099 is December 31, 2021.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 12:- COMMITMENTS AND CONTINGENT LIABILITIES a. 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 10a. b. Israel Innovation Authority commitments: 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"), in the amount of 3%-3.5% of the sales recorded from products and other related revenues generated from such projects, up to 100% of the grants received, linked to the U.S. dollar and for grants received after January 1, 1999 also bearing interest at the rate of LIBOR. The obligation to pay these royalties is contingent on actual sales of the products and in the absence of such sales, no payment is required. The Company was undergoing an audit by the IIA for royalties paid before the sale of the Company's Video business. As of December 31, 2020, the Company has sufficient provisions to cover the expected outcome of such review process. The provision for the above commitments was recorded under liabilities attributed to discontinued operations as the Company has no further obligation to pay royalties on revenues generated by the Video Activity subsequent to its sale. c. 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, 2020, the Company has not drawn down any funds under the Loan Facility. d. 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 June 16, 2019, the District Court denied the motion to approve the filing of the derivative claim. On September 22, 2019, the Applicants filed an appeal to the District Court's decision to the Supreme Court. On February 20, 2020, the applicants submitted their written summations and the Company and the other respondents also filed their summations. The hearing of the Appeal is scheduled to May 3, 2021. At this stage the Company cannot provide an assessment as to the chances of the claim and the exposure to the Company. 2. On March 6, 2019, the Company has notified that Swiss Pro Capital Limited, a company organized under the laws of Switzerland, has filed a legal claim against the Company's subsidiaries, Optibase RE 1 s.a.r.l and Optibase Real Estate Europe SARL. The matter of the claim is an option agreement signed between the parties on March 1, 2010, whereby the plaintiff was given the option for 8 years to purchase 20% of the shares of Optibase RE1, which holds a building in Switzerland, at a price to be calculated on the option exercise date according to a formula set forth in the agreement. In the statement of claim, it is claimed that starting at the end of 2014, the plaintiff approached the Company to check the possibility of exercising the option. Accordingly, the plaintiff requested to get data about the property in order for it to be able to check the updated option price. According to the plaintiff, after it was ignored by the Company, the option price as finally presented by the Company does not reflect the correct option price in accordance with the intent of the parties to the agreement and in accordance with the formula specified therein, and the Company artificially raised the option price. Thus, according to the plaintiff, for the price of the options to be without financial merit, Optibase REE did not draw dividends available for distribution from Optibase RE1. In addition, the Company did not refinance the property, and even imposed excess management expenses and other unnecessary expenses on Optibase RE1. The plaintiff claims that the correct option exercise price, and as it was actually exercised on May 25, 2016, is zero Swiss Francs, and it seeks for the court to issue a declaratory order under which it is entitled to receive 20% of the shares of Optibase RE1 at a price of zero Swiss Francs, and to issue orders to remove the discrimination, including that the Company must pay the plaintiff a sum of CHF 400,000 . On July 29, 2019 the Companies filed a statement of defense. The Company categorically deny the allegations raised in the statement of claim, and claim that the option price as given over by them reflects what is stated in the option agreement and that, in complete contradiction to the plaintiff's claims, they did not artificially raise the price of the option as alleged. The parties were referred to mediation that ended without reaching a settlement. Preliminary hearing has been scheduled for May 27, 2020. The parties have finished documents disclosure. A court hearing is scheduled on June 21, 2021 after submitting the affidavits. At this stage the Company cannot provide an assessment as to the chances of the claim. 3. On April 16, 2015, the Company's subsidiary Eldista GmbH, filed a claim to the court in Switzerland in an amount of CHF 961,000 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 157,000 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 Eldista GmbH's claim (though it had not yet examined the issue of the damages). Eldista GmbH filed an appeal against the judgment, but it was dismissed on June 12, 2017. On May 2, 2018, the court ruled that the damages owned to the tenant shall amount to approximately CHF 53,000 plus interest 5% as of June 4, 2014. An appeal has been filed and is currently pending before the supreme court. Should the supreme court confirm the first judgment, Eldista GmbH will most likely have a counterclaim against the former real estate agency that was managing the CTN Complex, although there is also a possibility that a judge would consider that the latter committed no breach or that only a portion of the damage can be recovered by the agency. On October 27, 2019, the judgment which dismissed the appeal filed by Eldista. Eldista was therefore ordered to pay the tenant CHF 53,000 plus interest 5% as of June 4, 2014, as well as an amout of CHF 17,000 as a participation for the tenant legal fees. These amounts were paid in Junuary and February 2020. 4. On March 1 2017, the Company's subsidiary Eldista Gmbh, received a notice from its largest tenant in Switzerland, LEM Switzerland SA, or LEM, regarding the deposit of the monthly rent for March 2017 amounting to approximately CHF 279,000 with Banque cantonale de Genève, as a preliminary process for filing a claim. LEM claims that there are serious defects affecting the rented premises, which merit LEM with a reimbursement of approximately CHF 2,400,000 (excluding VAT) as well as approximately CHF 69,000 as indemnification for consequential damages. Based on LEM’s submissions filed during the first hearing before the court, LEM requested a 20% rent reduction amounting to a capital amount of CHF 3,094,000, with 5% moratory interest per year, corresponding to approximately CHF 154,000 per year, based on the various defects allegedly affecting the rented premises. In addition, LEM is claiming for related damages an amount of approximately CHF 168,000, subject to amplification, with 5% moratory interest per year. LEM’s claim for rent reduction amounted of approximately CHF 714. LEM further demands to be reserved the right to claim the reimbursement of all ancillary costs paid in axcess to Eldista, without however indicating any amount to support its claim. A first hearing took place on June 26, 2018, and a second hearing took place on November 7, 2018. On January 27, 2020, a formal filing of a claim was submitted by LEM against Eldista. LEM claimed a first extension of its current lease until December 31, 2021, or until September 30, 2022 at the latest. LEM also claimed a rent reduction of 16.94% from April 2020 until the end of the extension which corresponds to a total amount of CHF 1,189,000. A first conciliation hearing was appointed on April 29, 2020 but was cancelled due to the COVID-19 pandemic and took place on 23 September 2020. Finally, discussions for an out-of-court settlement started between the parties after the hearing of October 1, 2020 and ended by an agreement concluded on October 16, 2020. This agreement, validated by the first instance court for lease matters on 27 October 2020, provides in the main that the parties withdraw all pending claims against each other and LEM receives from Eldista, as full and final settlement, a monthly contribution of CHF 43,750 (VAT not included) to its damage that is paid from December 2020 until March 2022, corresponding to a total amount in capital of CHF 700,000 (VAT not included). LEM is also authorized by this agreement to remain in the premises until December 31, 2023 with a termination notice of three months form the end of a month should it wish to leave the premises earlier.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 13:- 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, 2019, the Company has an interest rate swap agreements for Optibase Bavaria loan. The fair value of the interest rate swap consisted of a liability of $ 68, as of December 31, 2019 is included in short-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, 2020 and 2019, the Company has a currency rate swap agreements for Optibase Series A bonds. The fair value of the currency rate swap consisted of an assets of $ 332 and $ 458, 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, 2020
Income Tax Disclosure [Abstract]
TAXES ON INCOME	NOTE 14:- 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 federal 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 Global Intangible Low-Taxed Icome GILTI tax imposes a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. b. Corporate tax rates: Israeli companies are generally subject to corporate tax on their taxable income. In 2020, 2019 and 2018 the corporate tax rate in Israel is 23% (in 2017 and 2016, the corporate tax rate was 24% and 25%, 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 may be subject to the following statutory federal (approximate) tax rates: Year ended December 31, 2020 2019 2018 Luxemburg 29 % 29 % 29 % Zurich, Switzerland 21 % 21 % 21 % Geneva, Switzerland 14 % 24 % 24 % United States 21 % 21 % 21 % Germany 16 % 16 % 16 % c. Tax assessments: The Company has final tax assessmentsin Israel through the tax year 2015. The Company is currently under tax assessment valuation for tax years 2016 through 2019. 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 23%, 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, 2020 2019 Deferred tax assets: Net operating losses and other temporary differences $ 31,271 $ 28,941 Lease provision 1,622 1,466 Other 199 190 Deferred tax assets 33,092 30,597 Deferred tax liabilities: Land (5,734 ) (5,437 ) Building (10,373 ) (10,020 ) Other (3,553 ) (3,331 ) Distributable proceeds (809 ) - Deferred tax liabilities (20,469 ) (18,788 ) Valuation allowance (27,718 ) (25,610 ) Deferred tax liabilities, net $ (15,095 ) $ (13,801 ) e. Net operating losses carry-forward: Through December 31, 2020, Optibase Ltd. had net operating losses carry-forward for tax purposes in Israel of approximately $ 72,000 which may be carried forward and offset against taxable income in the future, for an indefinite period. As of December 31, 2020, Optibase Inc. had U.S. federal net operating loss carry-forward of approximately $ 57,000 that can be carried forward and offset against taxable income for 20 years, no later than 2040. 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, 2020 2019 2018 Income before taxes as reported $ 13,657 $ 3,920 $ 3,525 Theoretical tax benefit computed at the statutory rate 23% 3,141 902 811 Income tax at rate other than the Ltd. statutory tax rate (1,150 ) 101 52 Tax adjustments in respect of currency translation - 7 2 Adjustment of deferred tax balances following a decrease in statutory tax rates (572 ) - - Deferred taxes on losses and other temporary differences for which valuation allowance was provided 842 465 446 Taxes for previous years (23 ) (40 ) 47 Other non-deductible expenses (76 ) 37 106 Income tax expense $ 2,162 $ 1,472 $ 1,464 g. Income before taxes on income consists of the following: Year ended December 31, 2020 2019 2018 Domestic $ 594 $ (179 ) $ (2,515 ) Foreign 13,063 4,099 6,040 $ 13,657 $ 3,920 $ 3,525 h. Income tax expenses are comprised as follows: Year ended December 31, 2020 2019 2018 Current $ 2,184 $ 1,612 $ 1,637 Deferred (22 ) (140 ) (173 ) $ 2,162 $ 1,472 $ 1,464 Domestic $ 809 $ - $ - Foreign 1,353 1,472 1,464 $ 2,162 $ 1,472 $ 1,464

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	NOTE 15:- 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 private companies indirectly controlled by Capri, the Company's controlling shareholder. 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, 2020 was 571,260 . 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, 2020 an aggregate sum of 235,790 ordinary shares has been reserved for issuance under the 2006 Plan, respectively. d. The total equity-based compensation expense related to all of the Company's equity-based awards, recognized for the years ended December 31, 2020, 2019 and 2018. During 2020 2019 and 2018 there were no new grants.

FINANCIAL EXPENSES, NET

FINANCIAL EXPENSES, NET	12 Months Ended
	Dec. 31, 2020
Other Income and Expenses [Abstract]
FINANCIAL EXPENSES, NET	NOTE 16:- FINANCIAL EXPENSES, NET Financial income (expenses): Year ended December 31, 2020 2019 2018 Interest $ (2,472 ) $ (2,546 ) $ (2,827 ) Re-measurement of derivatives (73 ) 188 (562 ) Foreign currency translation adjustments 764 (272 ) 507 $ (1,781 ) $ (2,630 ) $ (2,882 )

GEOGRAPHIC INFORMATION

GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION	NOTE 17:- 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, 2020, 2019 and 2018 and real estate property as of December, 31, 2020, 2019 and 2018: 2020 2019 2018 Total revenues Real estate property, net Total revenues Real estate property, net Total revenues Real estate property, net Switzerland $ 12,499 $ 175,956 $ 11,975 $ 162,422 $ 12,322 $ 162,706 Germany (*) 1,380 - 3,180 - 3,261 30,736 United States 995 16,098 989 18,687 1,025 18,907 $ 14,874 $ 192,054 $ 16,144 $ 181,109 $ 16,608 $ 212,349 *) For details regarding the portfolio sale agreement , see Note 1b(1).

MAJOR SHAREHOLDERS AND RELATED

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS	NOTE 18:- 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 controlling shareholder, the Capri Family Foundation, holds approximately 79% of the Company's Ordinary shares. b. Related party transactions: 1. On December 19, 2013, and following the approval of the Company's audit committee, compensation committee and board of directors, and the Company's shareholders 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. On February 14, 2019, following the approval by the Company's compensation committee, audit committee and board of directors, the Company's shareholders approved an extension for a 3 year term, of the engagement with Mr. Wyler's, including an adjustment to his compensation terms, in a manner that Mr. Wyler's annual gross base salary was set at $ 220 for a full time position, as of January 1, 2019. 2. On December 19, 2013, and following the approval of the Company's audit committee and 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 EUR 4,000 plus applicable value added tax (if applicable) and reimbursement for expenses incurred up to EUR 12,000 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. On December 31, 2019, 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, 2019 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. 3. On October 22, 2014, following the approval by the Company's audit committee and board of directors the Company's shareholders approved entering 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, 2020 registration has not been implemented yet. 4. 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. On December 31, 2019, the Company's shareholders approved, following the approval by the Company's audit committee and board of directors, the extantion of the lease agreement. The new lease will be in effect for a one-year term commencing on January 2, 2020, 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 $ 27.3, including sales tax. The Rent will be increased by 3% every year. 5. 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 loan, (the "Loan"), from the Company's controlling shareholder. The Loan was granted to the Company on March 28, 2017 for the purpose of strengthening the Company's liquidity. The Loan does not bear any interest or linkage differentials and is unsecured. In May 2018, the parties entered into an amendment to the Loan's agreement, under which the Company reapid the Company's controlling shareholder $ 2,500 on account of the Loan's account. The repayment by the Company of the remaining Loan's amount of approximately $ 2,618 has been postponed from April 1, 2019 to April 1, 2020, however, the Company may prepay the Loan prior to such date at its sole discretion without any penalty. On September 30, 2019 the parties entered into an amendment no.2 to the Loan's agreement, under which the remaining loan amount of approximately $ 2,618 shall be postponed to October 1, 2020. The remaining terms of the original agreement shall remain unchanged. The loan was recognized at fair value to reflect its interest beneficiary terms at the date of the transaction. The difference between the fair value and the loan principal, in the amount of $ 372 is reported as a reserve from transaction with controlling shareholder in the balance sheet. On July 1, 2020, the Company repaid the loan. As of December 31, 2020 and 2019 an amount of $ 76 and $ 205, respectively, was recorded as finance expense. 6. 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) $ 20,000.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
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. Actual results could differ from those estimates.
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 U.S. dollar, CHF and EUR. 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	f. Property: Real estate properties 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, right-of-use assets and intangible assets	g. Impairment of long-lived assets, right-of-use assets and intangible assets: The Group's long-lived assets (assets group) to be held or used, including property and equipment, right of use assets and intangible assets subject to amortization are reviewed for impairment in accordance with ASC 360, "Property, Plant and Equipment" and ASC 350, “Intangibles - Goodwill and other”, whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In assessing the recoverability of long-lived assets, the Company makes judgments regarding whether impairment indicators exist based on legal factors, market conditions and operating performances of assets or asset groups. Recoverability of assets held and used is measured by a comparison of the carrying amount of an asset to the future undiscounted cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment recognized is measured by the carrying amount of the assets exceeds the fair value of the assets. 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 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, 2020 an amount of $247 was recorded as impairment and as of December 31, 2019, 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. Other non-marketable equity securities without readily determinable fair value in which the Company does not have a controlling interest or significant influence are recorded at their original cost and adjusted for observable price changes for identical or similar instruments less any impairment. These equity securities are presented as other non-current assets in the Company’s consolidated balance sheets. The Company reviews its unconsolidated non-marketable equity investments for potential impairment or other adjustments, which generally involves an analysis of the facts and changes in circumstances influencing the investments.
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.
Leases	k. Leases The Company determines if an arrangement is a lease at inception. Contracts containing a lease are further evaluated for classification as an operating or finance lease. In determining the leases classification the Company assesses among other criteria: (i) 75% or more of the remaining economic life of the underlying asset is a major part of the remaining economic life of that underlying asset; and (ii) 90% or more of the fair value of the underlying asset comprises substantially all of the fair value of the underlying asset. For leases with terms greater than 12 months, the Company records the right-of-use asset and liability at commencement date based on the present value of lease payments according to their term. As lessor, the Company elected to combine the lease components (base and variable rent) and non-lease components (reimbursement of common area maintenance expenses) from its operating lease agreements and account for the components as a component in accordance with ASC 842.
Derivative instruments	l. 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, 2020 and 2019, the Company had outstanding hedging instruments in the amount of $ 332 and $ 458, respectively, which were included in short-term assests and in long-term assets, respectively and outstanding hedging instruments in the amount of $ 68, which were included as of December 31, 2019 in short-term liabilities. At times, the Company may use derivative instruments to manage exposure to variable interest and currency rate risk. Occasionally, the Company enters into interest and currency rate swaps to manage its exposure to variable interest and currency rate risk and treasury locks to manage the risk of interest and currency 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	m. Revenue recognition: The Company is a lessor under non-cancellable operating leases and generates revenues from fixed income real-estate according to ASC 842 which 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 contract conveys the rights to control the use of the asset to the lessee for a period in exchange to considerations.
Contingencies	n. 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	o. 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 tax expenses. The Company believes that its tax positions are all highly certain of being upheld upon examination. As such, as of December 31, 2020 and 2019 the Company has not recorded a liability for uncertain tax positions.
Concentrations of credit risk	p. 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 and future economic conditions when evaluating the adequacy of the allowance for credit losses . 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	q. 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".
Accounting for stock-based compensation	r. 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. During 2020 and 2019 there were no new grants.
Treasury Shares	s. 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	t. 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, 2020 and 2019.
Comprehensive income	u. 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.
Recently adopted accounting pronouncements	v. Recently adopted accounting pronouncements: In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses on Financial Instruments”, which requires that expected credit losses relating to financial assets measured on an amortized cost basis and available for sale debt securities be recorded through an allowance for credit losses. ASU 2016-13 limits the amount of credit losses to be recognized for available for sale debt securities to the amount by which carrying value exceeds fair value and also requires the reversal of previously recognized credit losses if fair value increases. The Company adopted Topic 326 effective January 1, 2020, based on the composition of the Company’s trade receivables, investment portfolio and other financial assets, current economic conditions, historical credit loss activity and future economic conditions. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.
Recent accounting pronouncements issued	w. Recent accounting pronouncements issued: In December 2020, the FASB issued ASU No. 2020-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes”, which simplifies the accounting for income taxes. ASU 2020-12 is effective for annual reporting periods, and interim periods within those years, beginning after December 15, 2020. The Company is currently evaluating the impact of the new guidance on the Company’s consolidated financial statements.

GENERAL (Tables)

GENERAL (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 and 2019, which relates to the discontinued operations and presented in the consolidated balance sheets, are summarized as follows: Year ended December 31, 2020 2019 Liabilities: Total liabilities attributed to discontinued operations $ 2,061 $ 2,061

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020
Real Estate [Abstract]
Schedule of Real Estate Properties	Land Building Condominium units Currency translation adjustment Total Cost: At January 1, 2019 $ 33,874 $ 190,830 $ 21,413 $ (6,618 ) $ 239,499 Additions - 934 173 1,981 3,088 Reclassification – property held for sale (7,559 ) (26,178 ) - - (33,737 ) At December 31, 2019 26,315 165,586 21,586 (4,637 ) 208,850 Additions - 615 374 19,692 20,681 Disposals - - (2,238 ) - (2,238 ) At December 31, 2020 26,315 166,201 19,722 15,055 227,293 Accumulated depreciation and impairment: At January 1, 2019 - 25,136 2,506 (492 ) 27,150 Depreciation charge for the year - 3,948 392 417 4,757 Reclassification - property held for sale - (4,166 ) - - (4,166 ) At December 31, 2019 - 24,918 2,898 (75 ) 27,741 Depreciation and impairment charge for the year - 3,221 725 3,552 7,498 At December 31, 2020 - 28,139 3,623 3,477 35,239 Real estate property, net: At December 31, 2020 $ 26,315 $ 138,062 $ 16,099 $ 11,578 $ 192,054 At December 31, 2019 $ 26,315 140,668 $ 18,688 $ (4,562 ) $ 181,109
Schedule of estimated depreciation expenses	Following the review of the expected undiscounted future cash flows an impairment ralets to the Condominium units, in the amount of $247 was recorded in 2020. Estimated depreciation expenses by years are as follows: Year Estimated depreciation expenses 2021 3,901 2022 3,901 2023 3,901 2024 3,901 2025 and thereafter 150,135 165,739

OTHER ASSETS, NET (Tables)

OTHER ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2019 $ 147 $ (70 ) $ 77 Additions - (3 ) (3 ) Reclassification – property held for sale (74 ) - (74 ) At December 31, 2019 73 (73 ) - Additions - - - At December 31, 2020 - - - Accumulated amortization: At January 1, 2019 13 (77 ) (64 ) Amortization charge for the year (19 ) 4 (15 ) Reclassification – property held for sale 79 - 79 At December 31, 2019 73 (73 ) - Amortization charge for the year - - - At December 31, 2020 - - - Other assets, net: At December 31, 2020 $ - $ - $ - At December 31, 2019 $ - $ - $ -

OTHER ACCOUNTS RECEIVABLE AND_2

OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Accounts Receivables and Prepaid Expenses	December 31, 2020 2019 Prepaid expenses $ 38 $ 113 Income receivable 442 257 Others 89 258 $ 569 $ 628

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2020
DEPOSIT [Abstract]
Schedule of Short-Term Deposits	December 31, 2020 2019 Bonds deposit (1) $ 2,045 $ - Restricted account (2) 187 - SWAP (3) 332 - $ 2,564 $ -
Schedule of Long-Term Deposits	December 31, 2020 2019 Bonds deposit (1) $ - $ 1,903 Restricted account (2) - 232 SWAP (3) - 458 Other 98 85 $ 98 $ 2,678 (1) Bonds deposit of one payment of principal and interest reserves. See Note 11. (2) Restricted amount 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 34,200,000 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, 2020, the hedging amount is $ 1,455.

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Lessee Disclosure [Abstract]
Schedule of Operating ROU Assets and Operating Lease Liabilities	Below is a summary of our operating right-of-use assets and operating lease liabilities under ASC 842 as of December 31, 2020 and December 31, 2019: December 31, 2020 2019 Operating right-of-use assets $ 272 $ 376 Operating lease liabilities, current 166 142 Operating lease liabilities long-term 146 257 Total operating lease liabilities $ 312 $ 399
Schedule of Maturities of Lease Liabilities	Minimum lease payments for our right of use assets over the remaining lease periods as of December 31, 2020, are as follows: Year ended December 31, 2021 $ 170 2022 129 2023 28 Total undiscounted lease payments 327 Less - interest (15 ) Present value of lease liabilities $ 312
Schedule of Opreating Leases Weighted-Average Discount Term and Rate	The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of December 31, 2020: Remaining lease term and discount rate: Weighted average remaining lease term (years) 1.75 Weighted average discount rate 3.39 %
Schedule of Minimum Lease Payments	Future minimum rental payments to be received under operating leases: Year ended December 31, 2021 $ 5,279 2022 1,917 2023 3,360 2024 187 2025 and thereafter 2,630 Total future minimum rentals $ 13,373

INVESTMENTS IN COMPANIES AND _2

INVESTMENTS IN COMPANIES AND ASSOCIATES (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2020 2019 Assets $ 321,153 $ 336,310 Liabilities $ 459,620 $ 461,448 Income $ 49,708 $ 56,941 Net loss $ (11,947 ) $ (11,106 ) *) 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, 2020 2019 Invested in equity $ 13,142 $ 13,142 Accumulated net loss (11,214 ) (8,735 ) Total investment $ 1,928 $ 4,407
Two Penn Center Plaza [Member]
Investments in and Advances to Affiliates [Line Items]
Schedule of investment	December 31, 2020 2019 Invested in equity $ 4,025 $ 4,025 Distributions (1,794 ) (1,485 ) Accumulated net income 1,110 710 Total investment $ 3,341 $ 3,250

OTHER ACCOUNTS PAYABLE AND AC_2

OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Liabilities	December 31, 2020 2019 Employees and payroll accruals $ 308 $ 245 Accrued expenses 2,640 2,597 Government (mainly tax provision) 264 878 Advance tenants payments 397 504 Tenant security deposits 116 124 Trade payables 397 591 Others 22 89 Total $ 4,144 $ 5,028

LONG-TERM LOANS (Tables)

LONG-TERM LOANS (Tables)	12 Months Ended
	Dec. 31, 2020
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, 2021 (current maturity) 427 Long-term portion: 2022 427 2023 427 2024 427 2025 427 Thereafter 14,483 Total 16,191
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, 2021 (current maturity) 2,266 Long-term portion: 2022 2,266 2023 2,266 2024 2,266 2025 2,266 Thereafter 81,886 Total 90,950
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, 2021 (current maturity) 655 Long-term portion: 2022 - 2023 5,782 Total 5,782

TAXES ON INCOME (Tables)

TAXES ON INCOME (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of Corporate Tax Rates	Taxable income of the Company's subsidiary in Luxemburg, Switzerland and the United States may be subject to the following statutory federal (approximate) tax rates: Year ended December 31, 2020 2019 2018 Luxemburg 29 % 29 % 29 % Zurich, Switzerland 21 % 21 % 21 % Geneva, Switzerland 14 % 24 % 24 % United States 21 % 21 % 21 % 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, 2020 2019 Deferred tax assets: Net operating losses and other temporary differences $ 31,271 $ 28,941 Lease provision 1,622 1,466 Other 199 190 Deferred tax assets 33,092 30,597 Deferred tax liabilities: Land (5,734 ) (5,437 ) Building (10,373 ) (10,020 ) Other (3,553 ) (3,331 ) Distributable proceeds (809 ) - Deferred tax liabilities (20,469 ) (18,788 ) Valuation allowance (27,718 ) (25,610 ) Deferred tax liabilities, net $ (15,095 ) $ (13,801 )
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, 2020 2019 2018 Income before taxes as reported $ 13,657 $ 3,920 $ 3,525 Theoretical tax benefit computed at the statutory rate 23% 3,141 902 811 Income tax at rate other than the Ltd. statutory tax rate (1,150 ) 101 52 Tax adjustments in respect of currency translation - 7 2 Adjustment of deferred tax balances following a decrease in statutory tax rates (572 ) - - Deferred taxes on losses and other temporary differences for which valuation allowance was provided 842 465 446 Taxes for previous years (23 ) (40 ) 47 Other non-deductible expenses (76 ) 37 106 Income tax expense $ 2,162 $ 1,472 $ 1,464
Schedule of Income Before Taxes on Income	Income before taxes on income consists of the following: Year ended December 31, 2020 2019 2018 Domestic $ 594 $ (179 ) $ (2,515 ) Foreign 13,063 4,099 6,040 $ 13,657 $ 3,920 $ 3,525
Schedule of Components of Income Tax Expense	Income tax expenses are comprised as follows: Year ended December 31, 2020 2019 2018 Current $ 2,184 $ 1,612 $ 1,637 Deferred (22 ) (140 ) (173 ) $ 2,162 $ 1,472 $ 1,464 Domestic $ 809 $ - $ - Foreign 1,353 1,472 1,464 $ 2,162 $ 1,472 $ 1,464

FINANCIAL EXPENSES, NET (Tables

FINANCIAL EXPENSES, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Other Income and Expenses [Abstract]
Schedule of Other Financial Income (Expenses)	Financial income (expenses): Year ended December 31, 2020 2019 2018 Interest $ (2,472 ) $ (2,546 ) $ (2,827 ) Re-measurement of derivatives (73 ) 188 (562 ) Foreign currency translation adjustments 764 (272 ) 507 $ (1,781 ) $ (2,630 ) $ (2,882 )

GEOGRAPHIC INFORMATION (Tables)

GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of total revenues and real estate property	The following present total revenues for the years ended December 31, 2020, 2019 and 2018 and real estate property as of December, 31, 2020, 2019 and 2018: 2020 2019 2018 Total revenues Real estate property, net Total revenues Real estate property, net Total revenues Real estate property, net Switzerland $ 12,499 $ 175,956 $ 11,975 $ 162,422 $ 12,322 $ 162,706 Germany (*) 1,380 - 3,180 - 3,261 30,736 United States 995 16,098 989 18,687 1,025 18,907 $ 14,874 $ 192,054 $ 16,144 $ 181,109 $ 16,608 $ 212,349 *) For details regarding the portfolio sale agreement , see Note 1b(1).

GENERAL (Business Acquisition)

GENERAL (Business Acquisition) (Details) € in Thousands, $ in Thousands	Feb. 11, 2020USD ($)	Feb. 11, 2020EUR (€)	Jun. 17, 2016USD ($)	Dec. 29, 2015USD ($)	Jul. 08, 2015USD ($)	Jul. 08, 2015EUR (€)	Jun. 02, 2015USD ($)m²	Jun. 02, 2015EUR (€)m²	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)	Dec. 31, 2019USD ($)
Business Acquisition [Line Items]
Property held for sale											$ 29,700
Power Purchase Agreement [Member]
Business Acquisition [Line Items]
Property held for sale											$ 157
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	$ 38,900				$ 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 | €		€ 35,000				€ 4,750		€ 24,000
Acquisition costs, including real estate taxes | €										€ 2,075

GENERAL (Purchase Price Allocat

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

GENERAL (Discontinued Operation

GENERAL (Discontinued Operations) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Video Activity [Member]
Liabilities:
Total liabilities attributed to discontinued operations	$ 2,061	$ 2,061

GENERAL (Narrative) (Details)

GENERAL (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019item	Dec. 31, 2018item
Concentration Risk [Line Items]
Impairment loss | $	$ 247
Sales Revenue, Net [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Number of major customers | item		2	2
Threshold percentage for disclosure		10.00%	10.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Major customer one [Member]
Concentration Risk [Line Items]
Concentration risk percentage	20.00%	18.00%	18.00%
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Major customer two [Member]
Concentration Risk [Line Items]
Concentration risk percentage		16.00%	16.00%

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Cash flow hedges, liabilities			$ 68
Cash flow hedges, assets	[1]	$ 332	$ 458
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
[1]	Hedging of cross currency interest rate swap transaction for the total amount of approximately NIS 34,200,000 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, 2020, the hedging amount is $ 1,455.

REAL ESTATE PROPERTY, NET (Deta

REAL ESTATE PROPERTY, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cost:
Real estate property cost, beginning	$ 208,850	$ 239,499
Additions	20,681	3,088
Disposals	(2,238)
Reclassification - Property held for sale		(33,737)
Real estate property cost, ending	227,293	208,850
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning	27,741	27,150
Depreciation and impairment charge for the year	7,498	4,757
Reclassification - Property held for sale		(4,166)
Real estate property accumulated depreciation and impairment, ending	35,239	27,741
Real estate property, net:
Real estate property, net	192,054	181,109	$ 212,349
Impairment loss	247
Land [Member]
Cost:
Real estate property cost, beginning	26,315	33,874
Additions
Disposals
Reclassification - Property held for sale		(7,559)
Real estate property cost, ending	26,315	26,315
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning
Depreciation and impairment charge for the year
Reclassification - Property held for sale
Real estate property accumulated depreciation and impairment, ending
Real estate property, net:
Real estate property, net	26,315	26,315
Building [Member]
Cost:
Real estate property cost, beginning	165,586	190,830
Additions	615	934
Disposals
Reclassification - Property held for sale		(26,178)
Real estate property cost, ending	166,201	165,586
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning	24,918	25,136
Depreciation and impairment charge for the year	3,221	3,948
Reclassification - Property held for sale		(4,166)
Real estate property accumulated depreciation and impairment, ending	28,139	24,918
Real estate property, net:
Real estate property, net	138,062	140,668
Condominium Units [Member]
Cost:
Real estate property cost, beginning	21,586	21,413
Additions	374	173
Disposals	(2,238)
Reclassification - Property held for sale
Real estate property cost, ending	19,722	21,586
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning	2,898	2,506
Depreciation and impairment charge for the year	725	392
Reclassification - Property held for sale
Real estate property accumulated depreciation and impairment, ending	3,623	2,898
Real estate property, net:
Real estate property, net	16,099	18,688
Impairment loss	247
Currency translation adjustment [Member]
Cost:
Real estate property cost, beginning	(4,637)	(6,618)
Additions	19,692	1,981
Disposals
Reclassification - Property held for sale
Real estate property cost, ending	15,055	(4,637)
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning	(75)	(492)
Depreciation and impairment charge for the year	3,552	417
Reclassification - Property held for sale
Real estate property accumulated depreciation and impairment, ending	3,477	(75)
Real estate property, net:
Real estate property, net	$ 11,578	$ (4,562)

REAL ESTATE PROPERTY, NET (Esti

REAL ESTATE PROPERTY, NET (Estimated Depreciation Expenses) (Details) $ in Thousands	Dec. 31, 2020USD ($)
Real Estate Properties Estimated Depreciation Expenses [Abstract]
2021	$ 3,901
2022	3,901
2023	3,901
2024	3,901
2025 and thereafter	150,135
Estimated amortization expenses	$ 165,739

OTHER ASSETS, NET (Details)

OTHER ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cost:
Cost, beginning		$ 77
Additions		(3)
Reclassification - Property held for sale		(74)
Cost, ending
Accumulated amortization:
Accumulated amortization, beginning		(64)
Amortization charge for the year		(15)
Reclassification - Property held for sale		79
Accumulated amortization, ending
Other assets, net:
Intangible assets, net
Above, below market value of in-place leases [Member]
Cost:
Cost, beginning	73	147
Additions
Reclassification - Property held for sale		(74)
Cost, ending		73
Accumulated amortization:
Accumulated amortization, beginning	73	13
Amortization charge for the year		(19)
Reclassification - Property held for sale		79
Accumulated amortization, ending		73
Other assets, net:
Intangible assets, net
Currency translation adjustment [Member]
Cost:
Cost, beginning	(73)	(70)
Additions		(3)
Reclassification - Property held for sale
Cost, ending		(73)
Accumulated amortization:
Accumulated amortization, beginning	(73)	(77)
Amortization charge for the year		4
Reclassification - Property held for sale
Accumulated amortization, ending		(73)
Other assets, net:
Intangible assets, net

OTHER ACCOUNTS RECEIVABLE AND_3

OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 38	$ 113
Income receivable	442	257
Others	89	258
Other accounts receivable and prepaid expenses	$ 569	$ 628

DEPOSITS (Narrative) (Details)

DEPOSITS (Narrative) (Details) - Interest Rate Swap [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Derivative [Line Items]
Derivative notional amount	$ 8,700
Derivative instrument fixed interest rate percentage	7.95%
Derivative maturity date	Dec. 31, 2021
Hedging amount	$ 1,455
Shekels [Member]
Derivative [Line Items]
Derivative notional amount	$ 34,200
Derivative instrument fixed interest rate percentage	6.70%

DEPOSITS (Schedule of Short-ter

DEPOSITS (Schedule of Short-term Deposits and Long-term Deposits) (Details) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Short-term deposits
Bonds deposit	[1]	$ 2,045
Restricted account	[2]	187
SWAP	[3]	332
Total short term deposit		2,564
Long-term deposits
Bonds deposit	[1]		1,903
Restricted account	[2]		232
SWAP	[3]		458
Other		98	85
Total long term deposit		$ 98	$ 2,678
[1]	Bonds deposit of one payment of principal and interest reserves. See Note 11.
[2]	Restricted amount 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 34,200,000 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, 2020, the hedging amount is $ 1,455.

LEASES (Narrative) (Details)

LEASES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Lessee Disclosure [Abstract]
Cash paid for amounts included in measurement of operating lease liabilities	$ 162	$ 130

LEASES (Schedule of Operating R

LEASES (Schedule of Operating ROU Assets and Operating Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Operating Leases
Operating right-of-use assets	$ 272	$ 376
Operating lease liabilities, current	166	142
Operating lease liabilities long-term	146	257
Total operating lease liabilities	$ 312	$ 399

LEASES (Schedule of Maturities

LEASES (Schedule of Maturities of Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Lessee Disclosure [Abstract]
2021	$ 170
2022	129
2023	28
Total undiscounted lease payments	327
Less - interest	(15)
Present value of lease liabilities	$ 312	$ 399

LEASES (Schedule of Opreating L

LEASES (Schedule of Opreating Leases Weighted-Average Discount Term and Rate) (Details)	Dec. 31, 2020
Remaining lease term and discount rate:
Weighted average remaining lease term (years)	1 year 9 months
Weighted average discount rate	3.39%

LEASES (Schedule of Minimum Lea

LEASES (Schedule of Minimum Lease Payments) (Details) $ in Thousands	Dec. 31, 2020USD ($)
Lessee Disclosure [Abstract]
2021	$ 5,279
2022	1,917
2023	3,360
2024	187
2025 and after	2,630
Total future minimum rentals	$ 13,373

INVESTMENTS IN COMPANIES AND _3

INVESTMENTS IN COMPANIES AND ASSOCIATES (Narrative) (Details) - USD ($) $ in Thousands	Jun. 17, 2016	Dec. 29, 2015	Dec. 31, 2012
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 _4

INVESTMENTS IN COMPANIES AND ASSOCIATES (Schedule of Equity Method Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Accumulated net income	$ (2,079)	$ (2,321)	$ (2,765)
Two Penn Center Plaza [Member]
Schedule of Equity Method Investments [Line Items]
Invested in equity	4,025	4,025
Distributions	(1,794)	(1,485)
Accumulated net income	1,110	710
Total investment	3,341	3,250
300 South Riverside Plaza [Member]
Schedule of Equity Method Investments [Line Items]
Invested in equity	13,142	13,142
Accumulated net income	(11,214)	(8,735)
Total investment	$ 1,928	$ 4,407

INVESTMENTS IN COMPANIES AND _5

INVESTMENTS IN COMPANIES AND ASSOCIATES (Summarized Data of Financial Statements of Associates) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Assets		$ 234,697	$ 239,307
Income		14,874	16,144	$ 16,608
Net loss		6,433	(1,993)	$ (2,781)
Investments in associates [Member]
Assets	[1]	321,153	336,310
Liabilities	[1]	459,620	461,448
Income	[1]	49,708	56,941
Net loss	[1]	$ (11,947)	$ (11,106)
[1]	The information presented does not include excess cost and goodwill.

OTHER ACCOUNTS PAYABLE AND AC_3

OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Employees and payroll accruals	$ 308	$ 245
Accrued expenses	2,640	2,597
Government (mainly tax provision)	264	878
Advance tenants payments	397	504
Tenant security deposits	116	124
Trade payables	397	591
Others	22	89
Other accounts payable and accrued expenses	$ 4,144	$ 5,028

LONG-TERM LOANS (Details)

LONG-TERM LOANS (Details) € in Thousands, SFr in Thousands, $ in Thousands

1 Months Ended

12 Months Ended

May 31, 2020USD ($)

Mar. 31, 2020USD ($)

Nov. 21, 2019USD ($)

Nov. 24, 2017USD ($)

Dec. 31, 2020EUR (€)

Dec. 31, 2020CHF (SFr)

Dec. 31, 2020USD ($)

Dec. 31, 2020EUR (€)

Dec. 31, 2020CHF (SFr)

Jan. 08, 2020CHF (SFr)

Dec. 31, 2019USD ($)

Debt Instrument [Line Items]

Restricted cash deposit

[1]

$ 232

Mortgages [Member]

Debt Instrument [Line Items]

Amount of credit facility | SFr

SFr 83,500

Mortgages [Member] | CHF [Member]

Debt Instrument [Line Items]

Amount of credit facility, interest rate

0.75%

Mortgages [Member] | USD [Member]

Debt Instrument [Line Items]

Amount of credit facility, interest rate

1.05%

Swiss Bank Loan [Member] | Mortgages [Member]

Debt Instrument [Line Items]

Face amount | SFr

SFr 18,800

Variable interest rate spread

0.80%

0.80%

Annual principal payment | SFr

376

Long-term Debt, Fiscal Year Maturity [Abstract]

2021 (current maturity)

427

2022

427

2023

427

2024

427

2025

427

Thereafter

14,483

Total

$ 16,191

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

Terms of loan agreement

According to the new framework agreement, the credit facility may be utilized as follows: (i) mortgage loans in CHF with terms of 1 to max 10 years; (ii) mortgage-backed fixed advanced in CHF with terms of 3, 6 or 12 months; (iii) mortgage-backed fixed advanced in USD with terms of max 3 months.

According to the new framework agreement, the credit facility may be utilized as follows: (i) mortgage loans in CHF with terms of 1 to max 10 years; (ii) mortgage-backed fixed advanced in CHF with terms of 3, 6 or 12 months; (iii) mortgage-backed fixed advanced in USD with terms of max 3 months.

Long-term Debt, Fiscal Year Maturity [Abstract]

2021 (current maturity)

$ 2,266

2022

2,266

2023

2,266

2024

2,266

2025

2,266

Thereafter

81,886

Total

$ 90,950

Credit Suisse Loan [Member] | Mortgages [Member] | CHF [Member]

Debt Instrument [Line Items]

Quarterly principal payment | SFr

SFr 2,000

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 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.

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.

City National Bank of Florida Loan [Member] | Mortgages [Member]

Debt Instrument [Line Items]

Gross amount

$ 8,828

$ 9,390

$ 15,000

Loan term

3 years

3 years

Interest rate

2.65%

2.65%

2.65%

2.65%

2.65%

Default interest rate

4.65%

3.25%

Depository account amount

$ 1,500

Debt issuance costs

$ 117

Maturity date

Sep. 30, 2021

Long-term Debt, Fiscal Year Maturity [Abstract]

2021 (current maturity)

655

2022

2023

5,782

Total

$ 5,782

Optibase Inc. [Member] | Mortgages [Member]

Debt Instrument [Line Items]

Depository account amount

$ 1,500

Restricted cash deposit

$ 550

Annual principal payment

$ 8,903

Maturity date

Jan. 4, 2021

Monthly payment

$ 19

Repayments of long term debt

$ 2,271

[1]

Restricted amount related to the hedging transaction, see details (3) below.

BONDS (Details)

BONDS (Details) - Bonds [Member] - Series A Bonds [Member] ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015ILS (₪)
Gross amount		$ 15,700
Interest rate		6.70%	6.70%
Debt issuance costs, net	$ 384
Debt issuance costs	17
Bonds amount	$ 3,099
Maturity date of bonds	Dec. 31, 2021
Shekels [Member]
Gross amount | ₪			₪ 60,000

COMMITMENTS AND CONTINGENT LI_2

COMMITMENTS AND CONTINGENT LIABILITIES (Office of the Chief Scientist Commitments) (Details) - Royalty Commitment with Office of Chief Scientist [Member]	Dec. 31, 2020
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 LI_3

COMMITMENTS AND CONTINGENT LIABILITIES (Litigation) (Details) SFr in Thousands, $ in Thousands	Mar. 06, 2019CHF (SFr)	Mar. 01, 2017CHF (SFr)	Apr. 16, 2015CHF (SFr)	Jun. 04, 2014CHF (SFr)	Jan. 31, 2020CHF (SFr)	Jun. 30, 2017USD ($)	Dec. 31, 2020CHF (SFr)	Dec. 31, 2015USD ($)
Loss Contingencies [Line Items]
Membership interest							100.00%
Option Agreement [Member] | Subsidiaries [Member] | CHF [Member]
Loss Contingencies [Line Items]
Amount paid to plaintiff	SFr 400
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%
Period of option to purchase shares by plaintiff	8 years
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] | CHF [Member]
Loss Contingencies [Line Items]
Costs of the arbitration and lawyers' fees				SFr 17
Damages and unpaid amounts sought from tenant			SFr 961	SFr 53
Damages sought			SFr 157
Interest rate				5.00%
LEM [Member] | CHF [Member]
Loss Contingencies [Line Items]
Amount of settlement							SFr 43,750
Additional claim amount					SFr 1,189
Damages and unpaid amounts sought from tenant							SFr 168
Interest rate							5.00%
Percentage of reduced claims					16.94%
Rent deduction							SFr 714
Amount of settlement without VAT							700,000
Tenant [Member] | LEM [Member] | CHF [Member]
Loss Contingencies [Line Items]
Damages sought							69
Damages sought by the Company							3,094
Monthly rent		SFr 279					154
Reimbursement to tenant							SFr 2,400
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, 2019	Dec. 31, 2020
Series A [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of currency rate swap assets	$ 458	$ 332
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other liability amount	68
Net unrealized income	$ 68

TAXES ON INCOME (Narrative) (De

TAXES ON INCOME (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Tax rate	23.00%	23.00%	23.00%
Statutory tax rate for next fiscal year	23.00%
Corporate statutory tax rate on 2019	23.00%	23.00%	23.00%
Open tax year	2015
Israel [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	23.00%	23.00%	23.00%	24.00%	25.00%
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	21.00%
Maximum [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	35.00%
Current Tax Year [Member] | Minimum [Member]
Operating Loss Carryforwards [Line Items]
Open tax year	2016
Current Tax Year [Member] | Maximum [Member]
Operating Loss Carryforwards [Line Items]
Open tax year	2019
Luxemburg [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	29.00%	29.00%	29.00%
Zurich, Switzerland [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	21.00%	21.00%	21.00%
Geneva, Switzerland [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	14.00%	24.00%	24.00%
United States [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	21.00%	21.00%	21.00%
Net operating losses carryforward	$ 57
Net operating loss carryforward expiration period	20 years
Expiration of operating loss carry forward	Dec. 31, 2040
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	$ 72

TAXES ON INCOME (Schedule of De

TAXES ON INCOME (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net Operating losses and other temporary differences	$ 31,271	$ 28,941
Lease provision	1,622	1,466
Other	199	190
Deferred tax assets	33,092	30,597
Deferred tax liabilities:
Land	(5,734)	(5,437)
Building	(10,373)	(10,020)
Other	(3,553)	(3,331)
Distributable proceeds	(809)
Deferred tax liabilities	(20,469)	(18,788)
Valuation allowance	(27,718)	(25,610)
Deferred tax liabilities, net	$ (15,095)	$ (13,801)

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income before taxes as reported	$ 13,657	$ 3,920	$ 3,525
Statutory tax rate	23.00%	23.00%	23.00%
Increase (reduction) in income taxes resulting from
Theoretical tax benefit computed at the statutory rate 23%	$ 3,141	$ 902	$ 811
Income tax at rate other than the Ltd. statutory tax rate	(1,150)	101	52
Tax adjustments in respect of currency translation		7	2
Adjustment of deferred tax balances following a decrease in statutory tax rates	(572)
Deferred taxes on losses and other temporary differences for which valuation allowance was provided	842	465	446
Taxes for previous years	(23)	(40)	47
Other non-deductible expenses	(76)	37	106
Income tax expense	$ 2,162	$ 1,472	$ 1,464

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, 2020	Dec. 31, 2019	Dec. 31, 2018
Income (loss) before taxes on income:
Domestic	$ 594	$ (179)	$ (2,515)
Foreign	13,063	4,099	6,040
Income before taxes on income	$ 13,657	$ 3,920	$ 3,525

TAXES ON INCOME (Schedule of _2

TAXES ON INCOME (Schedule of Income Tax Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income tax expenses:
Current	$ 2,184	$ 1,612	$ 1,637
Deferred	(22)	(140)	(173)
Income tax expense	2,162	1,472	1,464
Income tax expenses by jurisdiction:
Domestic	809
Foreign	1,353	1,472	1,464
Income tax expense	$ 2,162	$ 1,472	$ 1,464

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details) - shares	1 Months Ended		12 Months Ended
	Aug. 31, 2014	Nov. 30, 2013	Dec. 31, 2020	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			571,260
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			235,790
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%

FINANCIAL EXPENSES, NET (Detail

FINANCIAL EXPENSES, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Financial income:
Interest	$ (2,472)	$ (2,546)	$ (2,827)
Re-measurement of derivatives	(73)	188	(562)
Foreign currency translation adjustments	764	(272)	507
Total financial income	$ (1,781)	$ (2,630)	$ (2,882)

GEOGRAPHIC INFORMATION (Schedul

GEOGRAPHIC INFORMATION (Schedule of Revenues and Real Estate Property) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		$ 14,874	$ 16,144	$ 16,608
Real Estate Property, net		192,054	181,109	212,349
Switzerland [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		12,499	11,975	12,322
Real Estate Property, net		175,956	162,422	162,706
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	[1]	1,380	3,180	3,261
Real Estate Property, net	[1]			30,736
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		995	989	1,025
Real Estate Property, net		$ 16,098	$ 18,687	$ 18,907
[1]	For details regarding the portfolio sale agreement , see Note 1b(1).

MAJOR SHAREHOLDERS AND RELATE_2

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS (Details) € in Thousands, $ in Thousands	May 16, 2016USD ($)	Dec. 19, 2013USD ($)	Dec. 19, 2013EUR (€)	Feb. 14, 2019USD ($)	Mar. 31, 2017USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2019USD ($)	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Finance expense						$ 76		$ 205
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Monthly rent payment for property leased from related party						$ 273
Annual percentage increase for rent						3.00%
Majority Shareholder [Member]
Related Party Transaction [Line Items]
Ownership percentage						79.00%
Director [Member]
Related Party Transaction [Line Items]
Reimbursement of reasonable work-related expenses | €			€ 12				€ 12
Director [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Monthly consulting fee | €			€ 4				€ 4
Chief Executive Officer [Member] | Subsidiaries [Member]
Related Party Transaction [Line Items]
Time period				3 years
Salary to CEO	$ 200	$ 170		$ 220
Chief Executive Officer [Member] | Maximum [Member] | Subsidiaries [Member]
Related Party Transaction [Line Items]
Reimbursement of health insurance expenses	24	24				$ 24
Reimbursement of reasonable work-related expenses	$ 50	$ 50				$ 50
Controlling Shareholder [Member]
Related Party Transaction [Line Items]
Proceeds from related party guarantee					$ 5,118
Maturity date					Apr. 1, 2020
Reserve from transaction with controlling shareholder					$ 372
Repayment of loan					2,500
Remaining loan amount					$ 2,618
Shlomo Tom Wyler And Reuwen Schwarz [Member]
Related Party Transaction [Line Items]
Aggregate indemnification amount									$ 20
Shlomo Tom Wyler And Reuwen Schwarz [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Indemnification limitation percentage of shareholder's equity									25.00%