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CBRE buys remainder of co-working company Industrious at an $800M valuation
Real estate giant CBRE announced Tuesday that it is acquiring the rest of co-working startup Industrious, in which it already had a sizable investment, at
Real estate giant CBRE announced Tuesday that it is acquiring the rest of co-working startup Industrious, in which it already had a sizable investment, at a valuation of over $800 million. The deal suggests that the concept of co-working isn’t a bad idea for a business, even if the biggest player’s spectacular nose-dive was the subject of a book, a movie, and a TV series called “WeCrashed.” CBRE had insight into Industrious’s growth in recent years considering that it has been an investor in the company since late 2020, acquiring an approximately 40% equity interest and $100 million convertible note.
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