We’re thrilled to announce that CBRE has invested more than $200 million in Industrious.

This investment represents a significant minority stake in the company and is our largest fundraise to date. It’s also the clearest indication yet that Industrious is the leading platform for sustainable and strategic growth in the workplace-as-a-service industry.

Putting Industrious and CBRE’s complementary capabilities behind a shared vision will create the world’s leading flexible workplace offering. And while Industrious already has the highest customer satisfaction in the industry, this partnership will extend the scope and scale of Industrious’ offerings, making it the workplace provider of choice for the Global Fortune 1000 and beyond.

Here’s what Bloomberg had to say about this milestone investment:

Dallas-based CBRE paid about $200 million in cash for primary and secondary shares, and is transferring its own flexible workspace brand Hana — which operates 10 locations in the U.S. and U.K. — to Industrious as part of the transaction, the companies said .

Industrious, which entered Singapore last year, will take a “judicious” approach to global expansion and expects ample opportunities as tenants seek to deploy employees across multiple spaces instead of one location in a post-pandemic world. The company will use fresh funds to fuel growth by hiring and for capital pledges linked to new management agreements.

CBRE’s investment in Industrious values the company at more than it was worth in 2019, when it raised capital from Brookfield Properties and Canada Pension Plan Investment Board, among others.

You can read the full article from Bloomberg here.