Optibase (OBAS) 20-F 27 Apr 22 2021 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2021shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2021
Document Registration Statement	false
Entity Registrant Name	OPTIBASE LTD.
Entity Address, Address Line One	8 Hamenofim Street
Entity Address, City or Town	Herzliya
Entity Address, Country	IL
Entity Address, Postal Zip Code	4672559
Entity Central Index Key	0001077618
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
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 Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Common Stock, Shares Outstanding	5,216,256
Entity Interactive Data Current	Yes
Entity Incorporation State Country Code	L3
Entity File Number	000-29992
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Accounting Standard	U.S. GAAP
Auditor Name	KOST FORER GABBAY & KASIERER
Auditor Location	Tel-Aviv, Israel
Auditor Firm ID	1281
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	8 Hamenofim Street
Entity Address, City or Town	Herzliya
Entity Address, Country	IL
Entity Address, Postal Zip Code	4672559
Contact Personnel Name	Mr. Amir Philips
Contact Personnel Fax Number	972-73-7946331

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 31,119	$ 28,820
Restricted cash	528	835
Trade receivables (net of allowance for credit losses of $ 155 and $ 178 at December 31, 2021 and 2020, respectively)	401	216
Other accounts receivable and prepaid expenses	1,342	569
Bonds related deposits	509	2,564
Property held for sale	5,893	0
Total current assets	39,792	33,004
LONG-TERM INVESTMENTS:
Long-term deposits	99	98
Right-of-use assets	131	272
Investments in companies and associates	5,998	9,269
Total long-term investments	6,228	9,639
Real estate property, net	176,922	192,054
Total assets	222,942	234,697
CURRENT LIABILITIES:
Current maturities of long-term loans and bonds	8,478	6,447
Other accounts payable and accrued expenses	4,084	4,144
Operating lease liabilities	130	166
Total liabilities attributed to discontinued operations	2,061	2,061
Total current liabilities	14,753	12,818
COMMITMENTS AND CONTINGENT LIABILITIES
LONG-TERM LIABILITIES:
Deferred tax liabilities	14,217	15,095
Land lease liability, net	6,785	7,054
Operating lease liabilities	27	146
Long-term loans, net of current maturities	100,950	112,923
Total long-term liabilities	121,979	135,218
SHAREHOLDERS' EQUITY:
Share capital - Ordinary shares of NIS 0.65 par value - Authorized: 6,000,000 shares at December 31, 2021 and 2020; Issued: 5,216,256 shares at December 31, 2021 and 2020; Outstanding: 5,198,361 shares at December 31, 2021 and 2020	994	994
Additional paid-in capital	138,187	138,187
Treasury shares: 17,895 shares at December 31, 2021 and 2020	(87)	(87)
Other reserves	1,255	2,759
Accumulated deficit	(81,283)	(80,389)
Total shareholders' equity of Optibase Ltd.	59,066	61,464
Non-controlling interests	27,144	25,197
Total shareholders' equity	86,210	86,661
Total liabilities and shareholders' equity	$ 222,942	$ 234,697

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) $ in Thousands	Dec. 31, 2021₪ / shares	Dec. 31, 2021USD ($)shares	Dec. 31, 2020₪ / shares	Dec. 31, 2020USD ($)shares
Statement of Financial Position [Abstract]
Allowance for credit losses | $		$ 155		$ 178
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, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Fixed income from real estate rent	$ 13,937	$ 14,874	$ 16,144
Costs and expenses:
Cost of real estate operations	2,324	2,548	2,948
Real estate depreciation, amortization and impairment	3,939	3,946	4,321
General and administrative	3,410	2,523	3,047
Total costs and expenses	9,673	9,017	10,316
Gain on sale of operating properties	273	9,127	0
Operating income	4,537	14,984	5,828
Other income	783	454	722
Financial expenses, net	(1,641)	(1,781)	(2,630)
Income before taxes on income	3,679	13,657	3,920
Taxes on income	(731)	(2,162)	(1,472)
Equity share in losses of associates, net	(1,059)	(2,079)	(2,321)
Net income	1,889	9,416	127
Net income attributable to non-controlling interest	2,783	2,983	2,120
Net income (loss) attributable to Optibase Ltd.	$ (894)	$ 6,433	$ (1,993)
Net earnings per share:
Basic and diluted net earnings (loss) per share	$ (0.17)	$ 1.24	$ (0.38)
Weighted average number of shares used in computing basic net earnings per share:	5,198,361	5,198,361	5,198,361
Weighted average number of shares used in computing diluted net earnings per share	5,198,361	5,198,361	5,198,361

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 1,889	$ 9,416	$ 127
Foreign currency translation adjustments	(2,340)	5,323	393
Financial liability related to hedging	0	68	137
Total comprehensive income (loss)	(451)	14,807	657
Net loss attributable to non-controlling interests	(2,783)	(2,983)	(2,120)
Other comprehensive loss (income) attributable to non-controlling interests	836	(2,204)	(283)
Comprehensive income (loss) attributable to Optibase Ltd.	$ (2,398)	$ 9,620	$ (1,746)

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, 2018	$ 994	$ 138,187	$ (87)	$ (706)	$ (84,829)	$ 53,559	$ 19,834	$ 73,393
Dividend to non-controlling interests	0	0	0	0	0	0	(2,227)	(2,227)
Other comprehensive loss (income)	0	0	0	247	0	247	283	530
Equity component of transaction with controlling shareholder	0	0	0	31	0	31	0	31
Net income (loss)	0	0	0	0	(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 loss (income)	0	0	0	3,187	0	3,187	2,204	5,391
Net income (loss)	0	0	0	0	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
Other comprehensive loss (income)	0	0	0	(1,504)	0	(1,504)	(836)	(2,340)
Net income (loss)	0	0	0	0	(894)	(894)	2,783	1,889
Balance at Dec. 31, 2021	$ 994	$ 138,187	$ (87)	$ 1,255	$ (81,283)	$ 59,066	$ 27,144	$ 86,210

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 1,889	$ 9,416	$ 127
Adjustments required to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and impairment	3,939	3,946	4,321
Gain on sale of operating properties	(273)	(9,127)	0
Decrease (increase) in trade receivables	(190)	353	(105)
Equity share in losses of associates, net	1,059	2,079	2,321
Decrease in deferred tax liabilities	(402)	(22)	(140)
Increase (decrease) in land lease liabilities	(34)	319	(106)
Increase (decrease) in lease liabilities	(155)	(43)	257
Decrease (increase) in right-of-use assets	141	104	(376)
Decrease (increase) in other accounts receivable and prepaid expenses	(411)	79	(665)
Increase (decrease) in accrued expenses, other accounts payable and other liabilities	92	(1,986)	1,763
Net cash provided by operating activities	5,655	5,118	7,397
Cash flows from investing activities:
Investment in real estate property	(913)	(989)	(1,109)
Proceeds from associates, net	2,212	309	398
Decrease (increase) in other long-term deposits	1,669	(9)	116
Proceeds from sale of real estate property	631	41,483	0
Net cash provided by (used in) investing activities	3,599	40,794	(595)
Cash flows from financing activities:
Repayment of long-term bank loans and bonds	(6,344)	(28,221)	(5,958)
Dividend paid to non-controlling interests	0	0	(2,227)
Repayment of controlling shareholders' loan	0	(2,618)	0
Net cash used in financing activities	(6,344)	(30,839)	(8,185)
Exchange differences on balances of cash and cash equivalents	(918)	1,986	112
Increase (decrease) in cash and cash equivalents and restricted cash	1,992	17,059	(1,271)
Cash and cash equivalents and restricted cash at the beginning of the year	29,655	12,596	13,867
Cash and cash equivalents and restricted cash at the end of the year	31,647	29,655	12,596
(a) Supplemental disclosures of cash flows information:
Cash and cash equivalents	31,119	28,820	12,564
Restricted cash	528	835	32
Total cash and cash equivalents and restricted cash	31,647	29,655	12,596
(b) Supplemental cash flows activities:
Cash paid during the year for: Taxes	2,141	3,040	1,433
Cash paid during the year for: Interest	920	1,492	2,320
(c) Significant non-cash transactions:
Net lease liabilities arising from obtaining right of use assets	$ 0	$ 39	$ 22

GENERAL

GENERAL	12 Months Ended
	Dec. 31, 2021
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, operates 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, 2021, 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"). On March 22, 2022, the Company's controlling shareholder and its affiliates, successfully completed a full tender offer for the Company's ordinary shares and purchased all of the Company's ordinary shares held by the Company's other shareholders. As a result, the Company's ordinary shares were delisted from NASDAQ on March 25, 2022. b. Investments in associates: Retail portfolio in Bavaria, Germany: On December 18, 2014 the Company through Optibase Bavaria GmbH & Co. KG ("Optibase Bavaria"), entered into a Purchase Agreement to acquire a retail portfolio of twenty-seven commercial properties in, Germany (the "Retail Portfolio in Germany"). 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). On February 11, 2020 the Company by its wholly owned European subsidiary, Optibase Bavaria GmbH & Co. KG, had entered into a definitive agreement to sell its retail portfolio in Germany, for an aggregate cash consideration of EUR 35,000,000 (approximately $ 38,900). The sale was completed in 2020 and a gain in the amount of $ 9,127 was recognized in that year. c. The Company has one major tenant, 22% and 20% of the Company revenues for the years ended 2021 and 2020, respectively, and two major tenants: 18% and 16% of the Company revenues of the year ended December 31, 2019. No other tenants accounted for more than 10% of the Company revenues. 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, 2021 and 2020, which relates to the discontinued operations and presented in the consolidated balance sheets, are summarized as follows: Year ended December 31, 2021 2020 Liabilities: Total liabilities attributed to discontinued operations $ 2,061 $ 2,061

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	NOTE 2:- SIGNIFICANT ACCOUNTING POLICIES a. Basis of presentation of the financial statements: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company's management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period b. Functional currency, presentation currency and foreign currency: The presentation currency of the financial statements is the U.S. dollar. The functional currency of the Company is the U.S. dollar. The functional currencies of Optibase's subsidiaries are 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 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", 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 exceeding 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. During the year ended December 31, 2021, no impairment losses have been identified. During the year ended December 31, 2020 an amount of $ 247 was recorded as impairment . h. Investments in companies: The Company's equity investment is an investment in equity securities a of privately-held company, that are not traded and therefore not supported by observable market prices. The Company elected to account for its equity investments without readily determinable market values that either (i) do not meet the definition of in-substance common stock or (ii) do not provide the Company with control or significant influence, using Accounting Standards Update (“ASU”) 2016-01, and measure the investment at cost minus impairment if any. Under ASU 2016-01, the Company adjusts the carrying value of its investments to fair value upon observable transactions for identical or similar investments of the same issuer. The Company periodically evaluates the carrying value of the investments in privately-held companies when events and circumstances indicate that the carrying amount of the investment may not be recovered. The maximum loss the Company can incur for its investments is their carrying value. The Company may determine the fair value by reviewing equity valuation reports, current financial results, long-term plans of the privately-held companies, the amount of cash that the privately-held companies have on-hand, the ability to obtain additional financing and overall market conditions in which the privately-held companies operate or based on the price observed from the most recent completed financing. All gains and losses on investments in privately-held companies, realized and unrealized, are recognized in financial (expenses) income, net. 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 Company'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. j. 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. k. Derivative instruments: The Company accounts for derivatives and hedging based on ASC No. 815, "Derivatives and Hedging". ASC No. 815 requires the Company to recognize all derivatives at fair value. The accounting for changes in the fair value of a derivative instrument (i.e., gains or losses) depends on whether it has been designated and qualified as part of a hedging relationship and further, on the type of hedging relationship. For those derivative instruments that are designated and qualified as hedging instruments, the Company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. If the derivatives meet the definition of a hedge and are so designated, depending on the nature of the hedge, changes in the fair value of such derivatives will either be offset against the change in fair value of the hedged assets, liabilities, firm commitments through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative's change in fair value is recognized in earnings. As of December 31, 2020, the Company had outstanding hedging instruments in the amount of $ 332, which were included in short-term assets. As of December 31, 2021, the Company had no hedging instruments. 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. l. 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 is 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 for considerations. m. Contingencies: The Company periodically estimates the impact of various conditions, situations and/or circumstances involving uncertain outcomes to its financial condition and operating results. The Company accounts for contingent events as required by ASC 450 "Contingencies". ASC 450 defines a contingency as "an existing condition, situation, or set of circumstances involving uncertainty as to possible gain or loss to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur". Legal proceedings are a form of such contingencies. In accordance with ASC 450, accruals for exposures or contingencies are being provided when the expected outcome is probable. However, it is possible that future results of operations for any particular quarter or annual period could be materially affected by changes in the Company's assumptions, the actual outcome of such proceedings or as a result of the effectiveness of the Company strategies related to these proceedings. n. Income taxes: The Company and its subsidiaries account for income taxes in accordance with ASC Topic 740, "Income Taxes" "ASC 740", prescribes the use of the liability method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company and its subsidiaries provide a valuation allowance, if necessary, to reduce deferred tax assets to amounts more likely than not to be realized. ASC 740 clarifies the accounting for uncertainties in income taxes by establishing minimum standards for the recognition and measurement of tax positions taken or expected to be taken in a tax return. Under the requirements of ASC 740, the Company must review all of its tax positions and make a determination as to whether its position is more-likely-than-not to be sustained upon examination by regulatory authorities. If a tax position meets the more-likely–than-not standard, then the related tax benefit is measured based on a cumulative probability analysis of the amount that is more-likely-than-not to be realized upon ultimate settlement or disposition of the underlying issue. The Company policy is to accrue interest and penalties related to unrecognized tax benefits in its tax expenses. o. Concentrations of credit risk: Financial instruments that potentially subject the Company and its subsidiaries to concentrations of credit risk consist principally of cash and cash equivalents, accounts receivables and long-term lease deposits. Cash and cash equivalents are invested in U.S. dollar deposits with major banks in Israel, the United States, Switzerland and Germany. Cash and cash equivalents in the United States may be in excess of insured limits and are not insured in other jurisdictions. The Company maintains cash and cash equivalents with diverse financial institutions and monitors the amount of credit exposure to each financial institution. Accounts receivable include 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. p. Earnings (loss) per share: Basic net earnings (losses) per share are computed based on the weighted average number of Ordinary shares outstanding during each year. Diluted net earnings (losses) per share is computed based on the weighted average number of Ordinary shares outstanding during each year, plus dilutive potential Ordinary shares considered outstanding during the year, in accordance with ASC 260, "Earning Per Share". q. 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. r. 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, 2021 and 2020. s. 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. t. Recently adopted accounting pronouncements: 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 adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

REAL ESTATE PROPERTY, NET

REAL ESTATE PROPERTY, NET	12 Months Ended
	Dec. 31, 2021
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, 2020 $ 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 Additions - 996 (83 ) (7,186 ) (6,273 ) Disposals (61 ) - (432 ) - (493 ) Reclassification – property held for sale*) (697 ) - (6,074 ) - (6,771 ) At December 31, 2021 25,557 167,197 13,133 7,869 213,756 Accumulated depreciation and impairment: At January 1, 2020 - 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 Depreciation and impairment charge for the year - 3,365 574 (1,331 ) 2,608 Disposals - - (135 ) - (135 ) Reclassification - property held for sale*) - - (878 ) - (878 ) At December 31, 2021 - 31,504 3,184 2,146 36,834 Real estate property, net: At December 31, 2020 $ 26,315 $ 138,062 $ 16,099 $ 11,578 $ 192,054 At December 31, 2021 $ 25,557 $ 135,693 $ 9,978 $ 5,723 $ 176,922 *) Balance of property held for sale is comprised of Condominium units in Miami. For details regarding the Condominium units sales, see Note 18b. Estimated depreciation expenses by years are as follows: Year Estimated depreciation expenses 2022 3,728 2023 3,728 2024 3,728 2025 3,728 2026 and thereafter 136,453 151,365

OTHER ACCOUNTS RECEIVABLE AND P

OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES	12 Months Ended
	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES	NOTE 4:- OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES December 31, 2021 2020 Prepaid expenses $ 63 $ 38 Income receivable 367 442 Government (mainly tax advances) 899 - Others 13 89 $ 1,342 $ 569

DEPOSITS

DEPOSITS	12 Months Ended
	Dec. 31, 2021
DEPOSIT [Abstract]
DEPOSITS	NOTE 5:- DEPOSITS Short-term deposits: December 31, 2021 2020 Bonds deposit and other (1) $ 444 $ 2,045 Restricted account (2) 65 187 SWAP (3) - 332 $ 509 $ 2,564 Long-term deposits: December 31, 2021 2020 Rent deposit $ 99 $ 98 $ 99 $ 98 (1) Bonds deposit of one payment of principal and interest reserves. See Note 10. (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. As of December 31, 2020, the hedged amount was $ 1,455. As of December 31, 2021, the Company had no hedging instruments.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
Lessee Disclosure [Abstract]
LEASES	NOTE 6:- 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, 2021 and December 31, 2020: December 31, 2021 2020 Operating right-of-use assets $ 131 $ 272 Operating lease liabilities, current 130 166 Operating lease liabilities long-term 27 146 Total operating lease liabilities $ 157 $ 312 Cash paid for amounts included in the measurement of operating lease liabilities was $ 185 and $ 162 during the years ended December 31, 2021 and 2020, respectively. Minimum lease payments for our right of use assets over the remaining lease periods as of December 31, 2021, are as follows: Year ended December 31, 2022 $ 133 2023 29 Total undiscounted lease payments 162 Less - interest (5 ) Present value of lease liabilities $ 157 The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of December 31, 2021: Remaining lease term and discount rate: Weighted average remaining lease term (years) 0.75 Weighted average discount rate 4.02 % The Company as lessor: Future minimum rental payments to be received under operating leases: Year ended December 31, 2022 $ 1,841 2023 4,331 2024 2,213 2025 787 2026 and thereafter 3,734 Total future minimum rentals $ 12,906

INVESTMENTS IN COMPANIES AND AS

INVESTMENTS IN COMPANIES AND ASSOCIATES	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
INVESTMENTS IN COMPANIES AND ASSOCIATES	NOTE 7:- INVESTMENTS IN COMPANIES AND ASSOCIATES a. On October 12, 2012, the Company acquired through its subsidiary beneficial interests in Two Penn Center Plaza in Philadelphia, Pennsylvania. This investment is accounted for using the equity method of accounting as the Company's indirect beneficial interest in Two Penn Center Plaza is 22.16% and therefore is considered to be more than minor. On April 9, 2021, Two Penn Center Plaza refinanced the existing loan on the property with an outstanding principal balance of approximately $ 44,000, was replaced with a new loan with a principal amount of $ 67,900. As a result of the refinancing, the Company's share in the excess cash is approximately $ 5,000. As of December 31, 2021, the Company received a distribution of approximately $ 2,200 out of the said $ 5,000. December 31, 2021 2020 Invested in equity $ 4,025 $ 4,025 Distributions (4,006 ) (1,794 ) Accumulated net income 1,979 1,110 Total investment $ 1,998 $ 3,341 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 at cost minus impairment if any. 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 at cost minus impairment if any. 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. 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, 2021 2020 Invested in equity $ 13,142 $ 13,142 Accumulated net loss (13,142 ) (11,214 ) Total investment $ - $ 1,928 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, 2021 2020 Assets $ 324,691 $ 321,153 Liabilities $ 491,157 $ 459,620 Income $ 59,961 $ 59,294 Net loss $ (10,949 ) $ (11,947 ) *) 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, 2021
Payables and Accruals [Abstract]
OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES	NOTE 8:- OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES December 31, 2021 2020 Employees and payroll accruals $ 291 $ 308 Accrued expenses 2,182 2,640 Government (mainly tax provision) 301 264 Advance tenants payments 805 397 Tenant security deposits 142 116 Trade payables 340 397 Others 23 22 Total $ 4,084 $ 4,144

LONG-TERM LOANS

LONG-TERM LOANS	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM LOANS	NOTE 9:- LONG-TERM LOANS a. On October 29, 2009, Optibase RE1 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, 2022 (current maturity) 412 Long-term portion: 2023 412 2024 412 2025 412 2026 412 Thereafter 13,592 Total 15,240 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, 2021, the Company met these covenants. Maturities of the loan by years are as follows: Year ended December 31, 2022 (current maturity) 2,191 Long-term portion: 2023 2,191 2024 2,191 2025 2,191 2026 2,191 Thereafter 76,946 Total 85,710 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. 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 originally taken for a term of three (3) years, with an interest rate of Libor 30-day-rate plus 2.65%. 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 original loan maturity date is September 30, 2021. Optibase Inc. has the right to extend the maturity date to March 31, 2023 if no event of default has occurred and subject to certain other conditions. In September 2020, Optibase Inc. extended the maturity date to March 31, 2023. Optibase Inc. will pay the fee in amount equal to 2% of the amount of the deficiency if Optibase Inc. or its subsidiary, fail to maintain depository accounts totaling $ 1,500, this covenant shall be measured for compliance annually, commencing December 2020, and continuing on December 31 of each calendar year thereafter. The securities for the loan include a restricted cash deposit of approximately $ 550. In May 2020, Optibase Inc. repaid an amount of $ 2,271, and in November 2021, Optibase Inc. repaid an amount of $ 621. As of December 31, 2021, the loan in the amount of $ 5,875 is presented under current maturities of long-term loans and bonds as the Company expects to sell the condominium units classified as properties held for sale during the upcoming year. As of December 31, 2021 Loan issuance costs of $ 59 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, 2021, the Company met these covenants. On March 9, 2022, following the sale of condominium units the Company fully repaid the loan. For details regarding the condominium units sales, see Note 18b. e. For information regarding a loan received from the controlling shareholder, see Note 17b(4).

BONDS

BONDS	12 Months Ended
	Dec. 31, 2021
Long Term Debt Noncurrent Abstract
BONDS	NOTE 10:- 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 with respect to these bonds amounted to $ 384 and were recorded as a direct deduction from the gross amount of the bonds. The debt issuance costs were amortized over the bond's term. As of December 31, 2021, following the payment of the last installment, the debt issuance costs were fully amortized. As of December 31, 2021 the bonds were fully repaid.

COMMITMENTS AND CONTINGENT LIAB

COMMITMENTS AND CONTINGENT LIABILITIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENT LIABILITIES	NOTE 11:- 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 9a. 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, 2021, 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 to be paid quarterly until the maturity on June 1, 2022. As of December 31, 2021, 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. On May 3, 2021, following a Supreme Court hearing, and the recommendation of the Supreme Court, the applicants withdrew the appeal, and the appeal was dismissed with prejudice. 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 SARL 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 to May 27, 2020. The parties have finished documents disclosure. A court hearing is scheduled to November 2022 after submitting the affidavits. At this stage the Company cannot provide an assessment as to the chances of the claim.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 12:- FAIR VALUE MEASUREMENTS a. Recurring fair value measurements: The fair value of the interest rate swaps is based on the estimated amount the Company would receive or pay to terminate the contract at the reporting date and is determined using interest rate pricing models and observable inputs. 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 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. As of December 31, 2021, the Company had no hedging instruments. 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, 2021
Income Tax Disclosure [Abstract]
TAXES ON INCOME	NOTE 13:- TAXES ON INCOME a. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the "TCJA"). The TCJA makes broad and complex changes to the Code. The changes include, but are not limited to: 1. A corporate income 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 Income 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 2021, 2020 and 2019 the corporate tax rate in Israel is 23%. 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, 2021 2020 2019 Luxemburg 29 % 29 % 29 % Zurich, Switzerland 21 % 21 % 21 % Geneva, Switzerland 14 % 14 % 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 subject to a tax audit for the years 2016 through 2019 by the Israeli Tax Authority ("ITA"). The Company received tax assessment for the years 2016 to 2019. The Company's management, based on a legal opinion received from its legal counsels, believes that it has adequately provided for any reasonably foreseeable outcome related to the ITA tax audit. The Company filed an appeal and requested a second review by the ITA for the years 2016 to 2019. Nevertheless, the ITA may disagree with the Company's position taken in the tax return, and the Company may be subject to additional tax liabilities. 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%, 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, 2021 2020 Deferred tax assets: Net operating losses and other temporary differences $ 34,146 $ 31,271 Lease provision 1,560 1,622 Other 186 199 Deferred tax assets 35,892 33,092 Deferred tax liabilities: Land (5,543 ) (5,734 ) Building (9,837 ) (10,373 ) Other (3,877 ) (3,553 ) Distributable proceeds (583 ) (809 ) Deferred tax liabilities (19,840 ) (20,469 ) Valuation allowance (30,269 ) (27,718 ) Deferred tax liabilities, net $ (14,217 ) $ (15,095 ) e. Net operating losses carry-forward: Through December 31, 2021, Optibase Ltd. had net operating losses carry-forward for tax purposes in Israel of approximately $ 78,000 which may be carried forward and offset against taxable income in the future, for an indefinite period. As of December 31, 2021, Optibase Inc. had U.S. federal net operating loss carry-forward of approximately $ 59,000 that can be carried forward and offset against taxable income. Approximately $ 12,000 of these carry-forward tax losses have no expiration date Approximately $ 47,000 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, 2021 2020 2019 Income before taxes as reported $ 3,679 $ 13,657 $ 3,920 Theoretical tax benefit computed at the statutory rate 23% 846 3,141 902 Foreign tax rates differences (576 ) (1,150 ) 101 Tax adjustments in respect of currency translation - - 7 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 280 842 465 Taxes for previous years - (23 ) (40 ) Other non-deductible expenses 181 (76 ) 37 Taxes on income $ 731 $ 2,162 $ 1,472 g. Income before taxes on income consists of the following: Domestic $ (2,296 ) $ 594 $ (179 ) Foreign 5,975 13,063 4,099 $ 3,679 $ 13,657 $ 3,920 h. Income tax expenses (benefit) are comprised as follows: Year ended December 31, 2021 2020 2019 Current $ 1,133 $ 2,184 $ 1,612 Deferred (402 ) (22 ) (140 ) $ 731 $ 2,162 $ 1,472 Domestic $ (226 ) $ 809 $ - Foreign 957 1,353 1,472 $ 731 $ 2,162 $ 1,472 i. As of December 31, 2021 the Company has an unrecognized tax benefit liability with respect to uncertain tax provision in the amount of $ 711, which was fully offset against tax advances. The Company did not accrue penalties during the years ended December 31, 2021 and 2020. The Company believes that it has adequately provided for any reasonably foreseeable outcome related to tax audits and settlement. The final tax outcome of its tax audits could be different from that which is reflected in the Company’s income tax provisions and accruals.

SHAREHOLDERS' EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
SHAREHOLDERS' EQUITY	NOTE 14:- SHAREHOLDERS' EQUITY 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. 3. On March 22, 2022, the Company's controlling shareholder and its affiliates, have successfully completed a full tender offer for the Company's ordinary shares (see Note 18a).

FINANCIAL EXPENSES, NET

FINANCIAL EXPENSES, NET	12 Months Ended
	Dec. 31, 2021
Other Income and Expenses [Abstract]
FINANCIAL EXPENSES, NET	NOTE 15:- FINANCIAL EXPENSES, NET Financial income (expenses): Year ended December 31, 2021 2020 2019 Interest $ (1,329 ) $ (2,472 ) $ (2,546 ) Re-measurement of derivatives (322 ) (73 ) 188 Foreign currency translation adjustments 10 764 (272 ) $ (1,641 ) $ (1,781 ) $ (2,630 )

GEOGRAPHIC INFORMATION

GEOGRAPHIC INFORMATION	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
GEOGRAPHIC INFORMATION	NOTE 16:- GEOGRAPHIC INFORMATION Summary information about geographic areas: The Company manages its business on a basis of one reportable segment (see Note 1 for a brief description of the Company activity). The data is presented in accordance with ASC 280, "Segment Reporting". Revenues in the table below are attributed to geographical areas based on the location of the end customers. The following present total revenues for the years ended December 31, 2021, 2020 and 2019 and long-lived assets as of December, 31, 2021, 2020 and 2019: 2021 2020 2019 Total revenues long-lived assets **) Total revenues long-lived assets **) Total revenues long-lived assets **) Switzerland $ 12,738 $ 167,733 $ 12,499 $ 175,956 $ 11,975 $ 162,422 Germany (*) - - 1,380 - 3,180 - United States 1,199 9,189 995 16,098 989 18,687 Israel - 131 - 240 - 312 Luxemburg - - - 32 - 64 $ 13,937 $ 177,053 $ 14,874 $ 192,326 $ 16,144 $ 181,485 *) For details regarding the portfolio sale agreement, see Note 1b. **) Long-lived assets are comprised of real estate property, net and operating lease right of use assets.

MAJOR SHAREHOLDERS AND RELATED

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS	NOTE 17:- MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS a. Controlling shareholders: To the Company's knowledge there are no arrangements, the operation of which may at a subsequent date result in a change in control of the Company. To the best of the Company's knowledge, the Company's controlling shareholder, the Capri Family Foundation, holds approximately 79% of the Company's Ordinary shares. See note 18a for further development on the Company's controlling shareholder. 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 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 extension of the lease agreement. The new lease is effective 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. As of December 31, 2021, there is an outstanding debt from the affiliated tenant related to the lease in the amount of $ 253 included in trade receivables. 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. 4. 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 repaid 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. During the years ended December 31, 2020 and 2019 an amount of $ 76 and $ 205, respectively, was recorded as finance expense. 5. 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 18:- SUBSEQUENT EVENTS a. On March 22, 2022, the Company's controlling shareholder and its affiliates, successfully completed a full tender offer for the Company's ordinary shares and purchased all of the Company's ordinary shares held by the Company's other shareholders. As a result, the Company's ordinary shares were delisted from NASDAQ on March 25, 2022. b. During the first quarter of 2022, the Company sold three apartment units in total consideration of approximately $ 2,400, and two penthouses units in total consideration for approximately $ 5,700. Following the last sale of the penthouse in March, 2022, the Company fully repaid the loan.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of presentation of the financial statements	a. Basis of presentation of the financial statements: The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company's management believes that the estimates, judgments and assumptions used are reasonable based upon information available at the time they are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting period
Functional currency, presentation currency and foreign currency	b. Functional currency, presentation currency and foreign currency: The presentation currency of the financial statements is the U.S. dollar. The functional currency of the Company is the U.S. dollar. The functional currencies of Optibase's subsidiaries are 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 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", 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 exceeding 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. During the year ended December 31, 2021, no impairment losses have been identified. During the year ended December 31, 2020 an amount of $ 247 was recorded as impairment .
Investments in companies	h. Investments in companies: The Company's equity investment is an investment in equity securities a of privately-held company, that are not traded and therefore not supported by observable market prices. The Company elected to account for its equity investments without readily determinable market values that either (i) do not meet the definition of in-substance common stock or (ii) do not provide the Company with control or significant influence, using Accounting Standards Update (“ASU”) 2016-01, and measure the investment at cost minus impairment if any. Under ASU 2016-01, the Company adjusts the carrying value of its investments to fair value upon observable transactions for identical or similar investments of the same issuer. The Company periodically evaluates the carrying value of the investments in privately-held companies when events and circumstances indicate that the carrying amount of the investment may not be recovered. The maximum loss the Company can incur for its investments is their carrying value. The Company may determine the fair value by reviewing equity valuation reports, current financial results, long-term plans of the privately-held companies, the amount of cash that the privately-held companies have on-hand, the ability to obtain additional financing and overall market conditions in which the privately-held companies operate or based on the price observed from the most recent completed financing. All gains and losses on investments in privately-held companies, realized and unrealized, are recognized in financial (expenses) income, net.
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 Company'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.
Leases	j. 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	k. Derivative instruments: The Company accounts for derivatives and hedging based on ASC No. 815, "Derivatives and Hedging". ASC No. 815 requires the Company to recognize all derivatives at fair value. The accounting for changes in the fair value of a derivative instrument (i.e., gains or losses) depends on whether it has been designated and qualified as part of a hedging relationship and further, on the type of hedging relationship. For those derivative instruments that are designated and qualified as hedging instruments, the Company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. If the derivatives meet the definition of a hedge and are so designated, depending on the nature of the hedge, changes in the fair value of such derivatives will either be offset against the change in fair value of the hedged assets, liabilities, firm commitments through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative's change in fair value is recognized in earnings. As of December 31, 2020, the Company had outstanding hedging instruments in the amount of $ 332, which were included in short-term assets. As of December 31, 2021, the Company had no hedging instruments. 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	l. 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 is 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 for considerations.
Contingencies	m. Contingencies: The Company periodically estimates the impact of various conditions, situations and/or circumstances involving uncertain outcomes to its financial condition and operating results. The Company accounts for contingent events as required by ASC 450 "Contingencies". ASC 450 defines a contingency as "an existing condition, situation, or set of circumstances involving uncertainty as to possible gain or loss to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur". Legal proceedings are a form of such contingencies. In accordance with ASC 450, accruals for exposures or contingencies are being provided when the expected outcome is probable. However, it is possible that future results of operations for any particular quarter or annual period could be materially affected by changes in the Company's assumptions, the actual outcome of such proceedings or as a result of the effectiveness of the Company strategies related to these proceedings.
Income taxes	n. Income taxes: The Company and its subsidiaries account for income taxes in accordance with ASC Topic 740, "Income Taxes" "ASC 740", prescribes the use of the liability method, whereby deferred tax asset and liability account balances are determined based on differences between financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company and its subsidiaries provide a valuation allowance, if necessary, to reduce deferred tax assets to amounts more likely than not to be realized. ASC 740 clarifies the accounting for uncertainties in income taxes by establishing minimum standards for the recognition and measurement of tax positions taken or expected to be taken in a tax return. Under the requirements of ASC 740, the Company must review all of its tax positions and make a determination as to whether its position is more-likely-than-not to be sustained upon examination by regulatory authorities. If a tax position meets the more-likely–than-not standard, then the related tax benefit is measured based on a cumulative probability analysis of the amount that is more-likely-than-not to be realized upon ultimate settlement or disposition of the underlying issue. The Company policy is to accrue interest and penalties related to unrecognized tax benefits in its tax expenses.
Concentrations of credit risk	o. Concentrations of credit risk: Financial instruments that potentially subject the Company and its subsidiaries to concentrations of credit risk consist principally of cash and cash equivalents, accounts receivables and long-term lease deposits. Cash and cash equivalents are invested in U.S. dollar deposits with major banks in Israel, the United States, Switzerland and Germany. Cash and cash equivalents in the United States may be in excess of insured limits and are not insured in other jurisdictions. The Company maintains cash and cash equivalents with diverse financial institutions and monitors the amount of credit exposure to each financial institution. Accounts receivable include 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	p. Earnings (loss) per share: Basic net earnings (losses) per share are computed based on the weighted average number of Ordinary shares outstanding during each year. Diluted net earnings (losses) per share is computed based on the weighted average number of Ordinary shares outstanding during each year, plus dilutive potential Ordinary shares considered outstanding during the year, in accordance with ASC 260, "Earning Per Share".
Treasury Shares	q. 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	r. 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, 2021 and 2020.
Comprehensive income	s. 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	t. Recently adopted accounting pronouncements: 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 adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

GENERAL (Tables)

GENERAL (Tables)	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of disposal groups, including discontinued operations	Year ended December 31, 2021 2020 Liabilities: Total liabilities attributed to discontinued operations $ 2,061 $ 2,061

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of property and equipment	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, 2021
Real Estate [Abstract]
Schedule of real estate properties	Land Building Condominium units Currency translation adjustment Total Cost: At January 1, 2020 $ 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 Additions - 996 (83 ) (7,186 ) (6,273 ) Disposals (61 ) - (432 ) - (493 ) Reclassification – property held for sale*) (697 ) - (6,074 ) - (6,771 ) At December 31, 2021 25,557 167,197 13,133 7,869 213,756 Accumulated depreciation and impairment: At January 1, 2020 - 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 Depreciation and impairment charge for the year - 3,365 574 (1,331 ) 2,608 Disposals - - (135 ) - (135 ) Reclassification - property held for sale*) - - (878 ) - (878 ) At December 31, 2021 - 31,504 3,184 2,146 36,834 Real estate property, net: At December 31, 2020 $ 26,315 $ 138,062 $ 16,099 $ 11,578 $ 192,054 At December 31, 2021 $ 25,557 $ 135,693 $ 9,978 $ 5,723 $ 176,922 *) Balance of property held for sale is comprised of Condominium units in Miami.
Schedule of estimated depreciation expenses	Year Estimated depreciation expenses 2022 3,728 2023 3,728 2024 3,728 2025 3,728 2026 and thereafter 136,453 151,365

OTHER ACCOUNTS RECEIVABLE AND_2

OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of other accounts receivables and prepaid expenses	December 31, 2021 2020 Prepaid expenses $ 63 $ 38 Income receivable 367 442 Government (mainly tax advances) 899 - Others 13 89 $ 1,342 $ 569

DEPOSITS (Tables)

DEPOSITS (Tables)	12 Months Ended
	Dec. 31, 2021
DEPOSIT [Abstract]
Schedule of short-term deposits	Short-term deposits: December 31, 2021 2020 Bonds deposit and other (1) $ 444 $ 2,045 Restricted account (2) 65 187 SWAP (3) - 332 $ 509 $ 2,564 (1) Bonds deposit of one payment of principal and interest reserves. See Note 10. (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. As of December 31, 2020, the hedged amount was $ 1,455. As of December 31, 2021, the Company had no hedging instruments.
Schedule of long-term deposits	Long-term deposits: December 31, 2021 2020 Rent deposit $ 99 $ 98 $ 99 $ 98

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2021
Lessee Disclosure [Abstract]
Schedule of operating ROU assets and operating lease liabilities	December 31, 2021 2020 Operating right-of-use assets $ 131 $ 272 Operating lease liabilities, current 130 166 Operating lease liabilities long-term 27 146 Total operating lease liabilities $ 157 $ 312
Schedule of maturities of lease liabilities	Year ended December 31, 2022 $ 133 2023 29 Total undiscounted lease payments 162 Less - interest (5 ) Present value of lease liabilities $ 157
Schedule of operating leases weighted-average discount term and rate	Weighted average remaining lease term (years) 0.75 Weighted average discount rate 4.02 %
Schedule of minimum lease payments	Year ended December 31, 2022 $ 1,841 2023 4,331 2024 2,213 2025 787 2026 and thereafter 3,734 Total future minimum rentals $ 12,906

INVESTMENTS IN COMPANIES AND _2

INVESTMENTS IN COMPANIES AND ASSOCIATES (Tables)	12 Months Ended
	Dec. 31, 2021
Investments in and Advances to Affiliates [Line Items]
Schedule of summarized data of the financial statements of associates	December 31, 2021 2020 Assets $ 324,691 $ 321,153 Liabilities $ 491,157 $ 459,620 Income $ 59,961 $ 59,294 Net loss $ (10,949 ) $ (11,947 ) *) 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, 2021 2020 Invested in equity $ 13,142 $ 13,142 Accumulated net loss (13,142 ) (11,214 ) Total investment $ - $ 1,928
Two Penn Center Plaza [Member]
Investments in and Advances to Affiliates [Line Items]
Schedule of investment	December 31, 2021 2020 Invested in equity $ 4,025 $ 4,025 Distributions (4,006 ) (1,794 ) Accumulated net income 1,979 1,110 Total investment $ 1,998 $ 3,341

OTHER ACCOUNTS PAYABLE AND AC_2

OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued liabilities	December 31, 2021 2020 Employees and payroll accruals $ 291 $ 308 Accrued expenses 2,182 2,640 Government (mainly tax provision) 301 264 Advance tenants payments 805 397 Tenant security deposits 142 116 Trade payables 340 397 Others 23 22 Total $ 4,084 $ 4,144

LONG-TERM LOANS (Tables)

LONG-TERM LOANS (Tables)	12 Months Ended
	Dec. 31, 2021
Swiss Bank Loan [Member]
Debt Instrument [Line Items]
Schedule of long-term loan maturities	Year ended December 31, 2022 (current maturity) 412 Long-term portion: 2023 412 2024 412 2025 412 2026 412 Thereafter 13,592 Total 15,240
Credit Suisse Loan [Member]
Debt Instrument [Line Items]
Schedule of long-term loan maturities	Year ended December 31, 2022 (current maturity) 2,191 Long-term portion: 2023 2,191 2024 2,191 2025 2,191 2026 2,191 Thereafter 76,946 Total 85,710

TAXES ON INCOME (Tables)

TAXES ON INCOME (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of corporate tax rates	Year ended December 31, 2021 2020 2019 Luxemburg 29 % 29 % 29 % Zurich, Switzerland 21 % 21 % 21 % Geneva, Switzerland 14 % 14 % 24 % United States 21 % 21 % 21 % Germany 16 % 16 % 16 %
Schedule of deferred tax liabilities	December 31, 2021 2020 Deferred tax assets: Net operating losses and other temporary differences $ 34,146 $ 31,271 Lease provision 1,560 1,622 Other 186 199 Deferred tax assets 35,892 33,092 Deferred tax liabilities: Land (5,543 ) (5,734 ) Building (9,837 ) (10,373 ) Other (3,877 ) (3,553 ) Distributable proceeds (583 ) (809 ) Deferred tax liabilities (19,840 ) (20,469 ) Valuation allowance (30,269 ) (27,718 ) Deferred tax liabilities, net $ (14,217 ) $ (15,095 )
Schedule of reconciliation between theoretical tax expense and actual tax expense	Year ended December 31, 2021 2020 2019 Income before taxes as reported $ 3,679 $ 13,657 $ 3,920 Theoretical tax benefit computed at the statutory rate 23% 846 3,141 902 Foreign tax rates differences (576 ) (1,150 ) 101 Tax adjustments in respect of currency translation - - 7 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 280 842 465 Taxes for previous years - (23 ) (40 ) Other non-deductible expenses 181 (76 ) 37 Taxes on income $ 731 $ 2,162 $ 1,472
Schedule of income before taxes on income	Domestic $ (2,296 ) $ 594 $ (179 ) Foreign 5,975 13,063 4,099 $ 3,679 $ 13,657 $ 3,920
Schedule of components of income tax expense	Year ended December 31, 2021 2020 2019 Current $ 1,133 $ 2,184 $ 1,612 Deferred (402 ) (22 ) (140 ) $ 731 $ 2,162 $ 1,472 Domestic $ (226 ) $ 809 $ - Foreign 957 1,353 1,472 $ 731 $ 2,162 $ 1,472

FINANCIAL EXPENSES, NET (Tables

FINANCIAL EXPENSES, NET (Tables)	12 Months Ended
	Dec. 31, 2021
Other Income and Expenses [Abstract]
Schedule of other financial income (expenses)	Year ended December 31, 2021 2020 2019 Interest $ (1,329 ) $ (2,472 ) $ (2,546 ) Re-measurement of derivatives (322 ) (73 ) 188 Foreign currency translation adjustments 10 764 (272 ) $ (1,641 ) $ (1,781 ) $ (2,630 )

GEOGRAPHIC INFORMATION (Tables)

GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of total revenues and real estate property	2021 2020 2019 Total revenues long-lived assets **) Total revenues long-lived assets **) Total revenues long-lived assets **) Switzerland $ 12,738 $ 167,733 $ 12,499 $ 175,956 $ 11,975 $ 162,422 Germany (*) - - 1,380 - 3,180 - United States 1,199 9,189 995 16,098 989 18,687 Israel - 131 - 240 - 312 Luxemburg - - - 32 - 64 $ 13,937 $ 177,053 $ 14,874 $ 192,326 $ 16,144 $ 181,485 *) For details regarding the portfolio sale agreement, see Note 1b. **) Long-lived assets are comprised of real estate property, net and operating lease right of use assets.

GENERAL (Business Acquisition)

GENERAL (Business Acquisition) (Narrative) (Details) $ in Thousands	Feb. 11, 2020EUR (€)	Feb. 11, 2020USD ($)	Jul. 08, 2015EUR (€)	Jul. 08, 2015USD ($)	Jun. 02, 2015EUR (€)	Jun. 02, 2015USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Business Acquisition [Line Items]
Percentage of ownership in group of subsidiaries							51.00%
Gain on sale of operating properties							$ 273	$ 9,127	$ 0
Retail Portfolio In Germany [Member]
Business Acquisition [Line Items]
Payment for acquisition	€ 35,000,000	$ 38,900	€ 4,750,000	$ 5,224	€ 24,000,000	$ 26,249

GENERAL (Discontinued Operation

GENERAL (Discontinued Operations) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Video Activity [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total liabilities attributed to discontinued operations	$ 2,061	$ 2,061

GENERAL (Narrative) (Details)

GENERAL (Narrative) (Details) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member] - Customer	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Number of major customers	1	1	2
Threshold percentage for disclosure		10.00%
Major customer one [Member]
Concentration Risk [Line Items]
Concentration risk percentage	22.00%	20.00%	18.00%
Major customer two [Member]
Concentration Risk [Line Items]
Concentration risk percentage			16.00%

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)
Accounting Policies [Abstract]
Impairment	$ 247
Cash flow hedges, assets	$ 332

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Dec. 31, 2021
Building [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Building [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	63 years
Buildings' Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Buildings' Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Condominium Units [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	30 years

REAL ESTATE PROPERTY, NET (Deta

REAL ESTATE PROPERTY, NET (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Cost:
Real estate property cost, beginning		$ 227,293	$ 208,850
Additions		(6,273)	20,681
Disposals		(493)	(2,238)
Reclassification - Property held for sale		(6,771)
Real estate property cost, ending		213,756	227,293
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning		35,239	27,741
Depreciation and impairment charge for the year		2,608	7,498
Disposals		(135)
Reclassification - Property held for sale	[1]	(878)
Real estate property accumulated depreciation and impairment, ending		36,834	35,239
Real estate property, net:
Real estate property, net		176,922	192,054
Land [Member]
Cost:
Real estate property cost, beginning		26,315	26,315
Additions		0	0
Disposals		(61)	0
Reclassification - Property held for sale		(697)
Real estate property cost, ending		25,557	26,315
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning		0	0
Depreciation and impairment charge for the year		0	0
Disposals		0
Reclassification - Property held for sale	[1]	0
Real estate property accumulated depreciation and impairment, ending		0	0
Real estate property, net:
Real estate property, net		25,557	26,315
Building [Member]
Cost:
Real estate property cost, beginning		166,201	165,586
Additions		996	615
Disposals		0	0
Reclassification - Property held for sale		0
Real estate property cost, ending		167,197	166,201
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning		28,139	24,918
Depreciation and impairment charge for the year		3,365	3,221
Disposals		0
Reclassification - Property held for sale	[1]	0
Real estate property accumulated depreciation and impairment, ending		31,504	28,139
Real estate property, net:
Real estate property, net		135,693	138,062
Condominium Units [Member]
Cost:
Real estate property cost, beginning		19,722	21,586
Additions		(83)	374
Disposals		(432)	(2,238)
Reclassification - Property held for sale		(6,074)
Real estate property cost, ending		13,133	19,722
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning		3,623	2,898
Depreciation and impairment charge for the year		574	725
Disposals		(135)
Reclassification - Property held for sale	[1]	(878)
Real estate property accumulated depreciation and impairment, ending		3,184	3,623
Real estate property, net:
Real estate property, net		9,978	16,099
Currency translation adjustment [Member]
Cost:
Real estate property cost, beginning		15,055	(4,637)
Additions		(7,186)	19,692
Disposals		0	0
Reclassification - Property held for sale		0
Real estate property cost, ending		7,869	15,055
Accumulated depreciation and impairment:
Real estate property accumulated depreciation, beginning		3,477	(75)
Depreciation and impairment charge for the year		(1,331)	3,552
Disposals		0
Reclassification - Property held for sale	[1]	0
Real estate property accumulated depreciation and impairment, ending		2,146	3,477
Real estate property, net:
Real estate property, net		$ 5,723	$ 11,578
[1]	Balance of property held for sale is comprised of Condominium units in Miami.

REAL ESTATE PROPERTY, NET (Esti

REAL ESTATE PROPERTY, NET (Estimated Depreciation Expenses) (Details) $ in Thousands	Dec. 31, 2021USD ($)
Real Estate Properties Estimated Depreciation Expenses [Abstract]
2022	$ 3,728
2023	3,728
2024	3,728
2025	3,728
2026 and thereafter	136,453
Estimated amortization expenses	$ 151,365

OTHER ACCOUNTS RECEIVABLE AND_3

OTHER ACCOUNTS RECEIVABLE AND PREPAID EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid expenses	$ 63	$ 38
Income receivable	367	442
Government (mainly tax advances)	899	0
Others	13	89
Other accounts receivable and prepaid expenses	$ 1,342	$ 569

DEPOSITS (Narrative) (Details)

DEPOSITS (Narrative) (Details) - Interest Rate Swap [Member] ₪ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021ILS (₪)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)
Derivative [Line Items]
Derivative notional amount			$ 8,700
Derivative instrument fixed interest rate percentage	7.95%		7.95%
Description of interest rate derivative activities	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.
Hedging amount		$ 1,455
Shekels [Member]
Derivative [Line Items]
Derivative notional amount | ₪	₪ 34,200,000
Derivative instrument fixed interest rate percentage	6.70%		6.70%

DEPOSITS (Schedule of Short-ter

DEPOSITS (Schedule of Short-term Deposits and Long-term Deposits) (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Short-term deposits
Bonds deposit	[1]	$ 444	$ 2,045
Restricted account	[2]	65	187
SWAP	[3]	0	332
Total short term deposit		509	2,564
Long-term deposits
Rent deposit		99	98
Total long term deposit		$ 99	$ 98
[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, 2021	Dec. 31, 2020
Lessee Disclosure [Abstract]
Cash paid for amounts included in measurement of operating lease liabilities	$ 185	$ 162

LEASES (Schedule of Operating R

LEASES (Schedule of Operating ROU Assets and Operating Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
Operating right-of-use assets	$ 131	$ 272
Operating lease liabilities, current	130	166
Operating lease liabilities long-term	27	146
Total operating lease liabilities	$ 157	$ 312

LEASES (Schedule of Maturities

LEASES (Schedule of Maturities of Lease Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Lessee Disclosure [Abstract]
2022	$ 133
2023	29
Total undiscounted lease payments	162
Less - interest	(5)
Present value of lease liabilities	$ 157	$ 312

LEASES (Schedule of Opreating L

LEASES (Schedule of Opreating Leases Weighted-Average Discount Term and Rate) (Details)	Dec. 31, 2021
Remaining lease term and discount rate:
Weighted average remaining lease term (years)	9 months
Weighted average discount rate	4.02%

LEASES (Schedule of Minimum Lea

LEASES (Schedule of Minimum Lease Payments) (Details) $ in Thousands	Dec. 31, 2021USD ($)
Lessee Disclosure [Abstract]
2022	$ 1,841
2023	4,331
2024	2,213
2025	787
2026 and thereafter	3,734
Total future minimum rentals	$ 12,906

INVESTMENTS IN COMPANIES AND _3

INVESTMENTS IN COMPANIES AND ASSOCIATES (Narrative) (Details) - USD ($) $ in Thousands	Apr. 09, 2021	Oct. 12, 2012	Jun. 17, 2016	Dec. 29, 2015	Dec. 31, 2012	Dec. 31, 2021
Investments in and Advances to Affiliates [Line Items]
Equity Method Investment, Ownership Percentage						51.00%
Texas Shopping Centers [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership interest percentage in cost method investment					4.00%
Consideration transferred					$ 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
Equity Method Investment, Ownership Percentage				30.00%
Interest rate percentage for additional investment			12.00%
Two Penn Center Plaza [Member]
Investments in and Advances to Affiliates [Line Items]
Minority ownership percentage		22.16%
Outstanding principal balance	$ 44,000
New loan principal amount	67,900
Excess cash	$ 5,000					$ 5,000
Distribution received						$ 2,200

INVESTMENTS IN COMPANIES AND _4

INVESTMENTS IN COMPANIES AND ASSOCIATES (Schedule of Equity Method Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Accumulated net income	$ (1,059)	$ (2,079)	$ (2,321)
Two Penn Center Plaza [Member]
Schedule of Equity Method Investments [Line Items]
Invested in equity	4,025	4,025
Distributions	(4,006)	(1,794)
Accumulated net income	1,979	1,110
Total investment	1,998	3,341
300 South Riverside Plaza [Member]
Schedule of Equity Method Investments [Line Items]
Invested in equity	13,142	13,142
Accumulated net income	(13,142)	(11,214)
Total investment	$ 0	$ 1,928

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets	$ 222,942	$ 234,697
Income	13,937	14,874	$ 16,144
Net loss	(894)	6,433	$ (1,993)
Investments in associates [Member]
Assets	324,691	321,153
Liabilities	491,157	459,620
Income	59,961	59,294
Net loss	$ (10,949)	$ (11,947)

OTHER ACCOUNTS PAYABLE AND AC_3

OTHER ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Employees and payroll accruals	$ 291	$ 308
Accrued expenses	2,182	2,640
Government (mainly tax provision)	301	264
Advance tenants payments	805	397
Tenant security deposits	142	116
Trade payables	340	397
Others	23	22
Total	$ 4,084	$ 4,144

LONG-TERM LOANS (Narrative) (De

LONG-TERM LOANS (Narrative) (Details) $ in Thousands	1 Months Ended			12 Months Ended
	Nov. 30, 2021USD ($)	May 31, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2021CHF (SFr)	Dec. 31, 2021CHF (SFr)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Jan. 08, 2020CHF (SFr)	Nov. 24, 2017
Debt Instrument [Line Items]
Long-term Debt, Current Maturities							$ 8,478	$ 6,447
Mortgages [Member]
Debt Instrument [Line Items]
Amount of credit facility | SFr									SFr 83,500,000
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 18,800,000
Variable interest rate spread				0.80%	0.80%
Annual principal payment | SFr						SFr 376,000
DG HYP Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Face amount | €				€ 21,000,000
Gross amount | €				€ 20,474,000
Interest rate				2.15%		2.15%	2.15%
Quarterly principal payment | €				€ 105,000
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							$ 15,000
Loan term				3 years	3 years
Interest rate										2.65%
Optibase Inc [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Gross amount			$ 8,828
Interest rate			2.65%
Default interest rate			4.65%
Depository account amount			$ 1,500
Restricted cash deposit		$ 550
Maturity date			Mar. 31, 2023
Repayments of long term debt	$ 621	$ 2,271
Long-term Debt, Current Maturities							5,875
Debt Issuance Costs, Net							$ 59
Credit Suisse Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Face amount | SFr						SFr 100,000,000
Variable interest rate spread				0.83%	0.83%
Annual principal payment | SFr						SFr 2,000,000
Quarterly principal payment | SFr					SFr 2,000,000
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 LOANS ( Schedule of l

LONG-TERM LOANS ( Schedule of long-term loan maturities) (Details) - Mortgages [Member] $ in Thousands	Dec. 31, 2021USD ($)
Swiss Bank Loan [Member]
Debt Instrument [Line Items]
2022 (current maturity)	$ 412
2023	412
2024	412
2025	412
2026	412
Thereafter	13,592
Total	15,240
Credit Suisse Loan [Member]
Debt Instrument [Line Items]
2022 (current maturity)	2,191
2023	2,191
2024	2,191
2025	2,191
2026	2,191
Thereafter	76,946
Total	$ 85,710

BONDS (Details)

BONDS (Details) - Bonds [Member] - Series A Bonds [Member]	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2015ILS (₪)	Dec. 31, 2015USD ($)
Gross amount			$ 15,700
Interest rate		6.70%	6.70%
Debt Issuance Costs, Net	$ 384,000
Maturity date of bonds	Dec. 31, 2021
Shekels [Member]
Gross amount | ₪		₪ 60,000,000

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, 2021
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)	Jun. 30, 2017USD ($)	Dec. 31, 2021	Dec. 31, 2015USD ($)
Loss Contingencies [Line Items]
Membership interest			100.00%
Option Agreement [Member] | Subsidiaries [Member] | CHF [Member]
Loss Contingencies [Line Items]
Amount paid to plaintiff | SFr	SFr 400,000
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
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) $ in Thousands	Dec. 31, 2020USD ($)
Interest Rate Swap [Member] | Series A [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of currency rate swap assets	$ 332

TAXES ON INCOME (Narrative) (De

TAXES ON INCOME (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Operating Loss Carryforwards [Line Items]
Corporate statutory tax rate on 2019	23.00%	23.00%	23.00%
Open tax year	2015
Unrecognized tax benefit liability	$ 711
Israel [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	23.00%	23.00%	23.00%	23.00%	24.00%	25.00%
Net operating losses carryforward	$ 78,000
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
United States [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	21.00%	21.00%	21.00%
Net operating losses carryforward	$ 59,000
Net operating loss carryforward expiration period	20 years
Net operating loss carryforward expiration period threshold limit	2038
Operating loss carryforward offset against taxable income	$ 12,000
Operating loss carryforward offset against taxable loss	$ 47,000

TAXES ON INCOME (Schedule of Co

TAXES ON INCOME (Schedule of Corporate Tax Rates) (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 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%	14.00%	24.00%
United States [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	21.00%	21.00%	21.00%
Germany [Member]
Operating Loss Carryforwards [Line Items]
Tax rate	16.00%	16.00%	16.00%

TAXES ON INCOME (Schedule of De

TAXES ON INCOME (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating losses and other temporary differences	$ 34,146	$ 31,271
Lease provision	1,560	1,622
Other	186	199
Deferred tax assets	35,892	33,092
Deferred tax liabilities:
Land	(5,543)	(5,734)
Building	(9,837)	(10,373)
Other	(3,877)	(3,553)
Distributable proceeds	(583)	(809)
Deferred tax liabilities	(19,840)	(20,469)
Valuation allowance	(30,269)	(27,718)
Deferred tax liabilities, net	$ (14,217)	$ (15,095)

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income before taxes as reported	$ 3,679	$ 13,657	$ 3,920
Increase (reduction) in income taxes resulting from
Theoretical tax benefit computed at the statutory rate 23%	846	3,141	902
Foreign tax rates differences	(576)	(1,150)	101
Tax adjustments in respect of currency translation	0	0	7
Adjustment of deferred tax balances following a decrease in statutory tax rates	0	(572)	0
Deferred taxes on losses and other temporary differences for which valuation allowance was provided	280	842	465
Taxes for previous years	0	(23)	(40)
Other non-deductible expenses	181	(76)	37
Taxes on income	$ 731	$ 2,162	$ 1,472

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Income (loss) before taxes on income:
Domestic	$ (2,296)	$ (594)	$ (179)
Foreign	5,975	13,063	4,099
Income before taxes on income	$ 3,679	$ 13,657	$ 3,920

TAXES ON INCOME (Schedule of _2

TAXES ON INCOME (Schedule of Income Tax Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income tax expenses:
Current	$ 1,133	$ 2,184	$ 1,612
Deferred	(402)	(22)	(140)
Taxes on income	731	2,162	1,472
Income tax expenses by jurisdiction:
Domestic	(226)	809	0
Foreign	957	1,353	1,472
Income tax expense	$ 731	$ 2,162	$ 1,472

SHAREHOLDERS' EQUITY (Details)

SHAREHOLDERS' EQUITY (Details)	1 Months Ended
	Dec. 31, 2013shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued for real estate investment	1,300,580

FINANCIAL EXPENSES, NET (Detail

FINANCIAL EXPENSES, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Financial income:
Interest	$ (1,329)	$ (2,472)	$ (2,546)
Re-measurement of derivatives	(322)	(73)	188
Foreign currency translation adjustments	10	764	(272)
Financial income (expenses), total	$ (1,641)	$ (1,781)	$ (2,630)

GEOGRAPHIC INFORMATION (Schedul

GEOGRAPHIC INFORMATION (Schedule of Revenues and Real Estate Property) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		$ 13,937		$ 14,874		$ 16,144
long-lived assets	[1]	177,053		192,326		181,485
Switzerland [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		12,738		12,499		11,975
long-lived assets	[1]	167,733		175,956		162,422
Germany [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		0	[2]	1,380	[3]	3,180	[4]
long-lived assets	[1]	0	[5]	0	[6]	0	[7]
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		1,199		995		989
long-lived assets	[1]	9,189		16,098		18,687
Israel [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		0		0		0
long-lived assets	[1]	131		240		312
Luxemburg [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues		0		0		0
long-lived assets	[1]	$ 0		$ 32		$ 64
[1]	Long-lived assets are comprised of real estate property, net and operating lease right of use assets
[2]	For details regarding the portfolio sale agreement, see Note 1b.
[3]	For details regarding the portfolio sale agreement, see Note 1b.
[4]	For details regarding the portfolio sale agreement, see Note 1b.
[5]	For details regarding the portfolio sale agreement, see Note 1b.
[6]	For details regarding the portfolio sale agreement, see Note 1b.
[7]	For details regarding the portfolio sale agreement, see Note 1b.

MAJOR SHAREHOLDERS AND RELATE_2

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS (Details)	1 Months Ended					12 Months Ended
	Feb. 14, 2019USD ($)	Mar. 31, 2017USD ($)	May 16, 2016USD ($)	Dec. 19, 2013EUR (€)	Dec. 19, 2013USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Finance expense						$ 76,000	$ 205,000
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Monthly rent payment for property leased from related party								$ 27,300
Annual percentage increase for rent								3.00%
Outstanding debt to lease in trade receivable								$ 253,000
Majority Shareholder [Member]
Related Party Transaction [Line Items]
Ownership percentage								79.00%
Director [Member]
Related Party Transaction [Line Items]
Monthly consulting fee | €				€ 12,000
Director [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Monthly consulting fee | €				€ 4,000
Chief Executive Officer [Member] | Subsidiaries [Member]
Related Party Transaction [Line Items]
Time period	3 years
Salary to CEO	$ 220,000		$ 200,000		$ 170,000
Chief Executive Officer [Member] | Maximum [Member] | Subsidiaries [Member]
Related Party Transaction [Line Items]
Reimbursement of health insurance expenses			24,000		24,000
Reimbursement of reasonable work-related expenses			$ 50,000		$ 50,000
Controlling Shareholder [Member]
Related Party Transaction [Line Items]
Proceeds from related party guarantee		$ 5,118,000
Maturity date		Apr. 1, 2020
Reserve from transaction with controlling shareholder		$ 372,000
Repayment of loan		2,500,000
Remaining loan amount		$ 2,618,000
Shlomo Tom Wyler And Reuwen Schwarz [Member]
Related Party Transaction [Line Items]
Aggregate indemnification amount									$ 20,000,000
Shlomo Tom Wyler And Reuwen Schwarz [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Indemnification limitation percentage of shareholder's equity									25.00%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)ApartmentsPenthouses
Subsequent Event [Line Items]
Number of Apartments | Apartments	3
Total consideration amount of Apartments sold	$ 2,400
Number of Penthouses | Penthouses	2
Total consideration amount of Penthouses sold	$ 5,700