CBRE Group, Inc. has recently announced its plans to acquire Industrious National Management Company, LLC for an estimated $400 million. This acquisition is expected to be finalized by the end of this month and will expand CBRE’s current 40% equity stake in Industrious, with a total enterprise value of approximately $800 million.
As part of this deal, CBRE will establish a new business segment called Building Operations & Experience (BOE), which will be led by Industrious CEO Jamie Hodari. In addition to his role as chief executive officer at Industrious, Hodari will also serve as CBRE’s chief commercial officer. The BOE segment aims to integrate building operations, workplace experience and property management under one umbrella and includes CBRE’s Enterprise Facilities Management, Local Facilities Management and Property Management divisions along with Industrious. This combined segment generated around $20 billion in revenue in 2020 including contributions from Industrious.
In light of these changes within the company structure due to the acquisition announcement,CB
