CBRE has struck a deal to buy a full stake in co-working space firm Industrious National Management Company, LLC in a move that will include the formation of a new unit.
Before acquiring 100 percent control, CBRE owned 40 percent of Industrious and a $100 million convertible note. Now, the Dallas-based firm is acquiring the remaining 60 percent for roughly $400 million, bringing the implied enterprise valuation of Industrious to about $800 million.
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