Orrick Advises on CBRE’s Acquisition of a 35 Percent Interest in Industrious

February.23.2021

We advised Industrious, a provider of flexible workspaces, on its sale of a 35% interest in the company to CBRE Group (NYSE: CBRE), a Fortune 500 and S&P 500 company and the world’s largest commercial real estate services and investment firm. In addition, CBRE is expected to acquire an additional 5% of Industrious in the coming weeks, raising its total stake to 40%.

CBRE acquired its 35% ownership in Industrious in the form of primary and secondary shares. The consideration includes approximately $200 million in cash and the transfer of certain assets of Hana, CBRE’s flexible-space solutions offering.  

The Orrick team advising Industrious is led by Samir Bakhru, David Schwartz, Frank Paz and Niki Fang, and includes John Bautista, Chris Bulkley, Will Lamb, Bill Hughes, Christine McCarthy, and Elizabeth Damaskos.