CBRE Group’s Acquisition of a 35 Percent Interest in Industrious

Orrick Herrington & Sutcliffe LLP advised Industrious on the deal, while Simpson Thacher represented CBRE Group.Industrious, a provider of flexible workspaces, announced 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 (Picture), David Schwartz, Frank Paz and Niki Fang, and includes John Bautista, Chris Bulkley, Will Lamb, Bill Hughes, Christine McCarthy, and Elizabeth Damaskos.

Simpson Thacher represented CBRE with Mark Pflug and Carina Kan (M&A); Tristan Brown and Ashlie Lawton (Executive Compensation and Employee Benefits); Russell Light (Tax); Krista McManus (Real Estate); Lori Lesser and Bobbie Burrows (Intellectual Property and Privacy); Adeeb Fadil (Environmental); and Peter Guryan, Nathaniel Bronstein and Kelly Karapetyan (Antitrust).

Involved fees earner: Samir Bakhru – Orrick; John Bautista – Orrick; Niki Fang – Orrick; Bill Hughes – Orrick; William Lamb – Orrick; Christine McCarthy – Orrick; Frank Paz – Orrick; David Schwartz – Orrick; Nathaniel Bronstein – Simpson Thacher & Bartlett; Tristan Brown – Simpson Thacher & Bartlett; Bobbie Burrows – Simpson Thacher & Bartlett; Adeeb Fadil – Simpson Thacher & Bartlett; Peter Guryan – Simpson Thacher & Bartlett; Carina Kan – Simpson Thacher & Bartlett; Kelly Karapetyan – Simpson Thacher & Bartlett; Ashlie Lawton – Simpson Thacher & Bartlett; Lori Lesser – Simpson Thacher & Bartlett; Russell Light – Simpson Thacher & Bartlett; Krista McManus – Simpson Thacher & Bartlett; Mark Pflug – Simpson Thacher & Bartlett;

Law Firms: Orrick; Simpson Thacher & Bartlett;

Clients: CBRE; Industrious LLC;

Martina Bellini

Author: Martina Bellini