CBRE Group To Buy Out Industrious

(RTTNews) - CBRE Group, Inc. (CBRE), commercial real estate services and investment firm, Tuesday said it has agreed to acquire Industrious National Management Company, LLC, a provider oaf flexible workplace solutions, for an enterprise value of $800 million.

CBRE, which already has about 40 percent stake in Industrious, will acquire the remaining equity interest for about $400 million. CBRE also had invested in Industrious through a $100 million convertible note.

The deal, which is expected to close later this month, is estimated to add to 2025 EBITDA, or earnings before interest, taxes, depreciation, and amortization, and free cash flow immediately.

CBRE will create a new business segment called Building Operations & Experience (BOE), to unify building operations, workplace experience and property management. The new BOE segment will be led by Jamie Hodari, Industrious' chief executive officer and co-founder. Hodari will also act as CBRE's Chief Commercial Officer.

CBRE Chief Operating Officer Vikram Kohli now has the additional title of CEO, Advisory Services.

With today's announcement, CBRE's four business segments for 2025 will be: Advisory Services, Building Operations & Experience, Project Management and Real Estate Investments.

"The advancements we've announced today support our strategy of investing in resilient businesses that benefit from secular tailwinds, creating new and differentiated products and continually improving the capabilities of our leadership team," said Bob Sulentic, CBRE's chair and chief executive officer.