CBRE Group, Inc. Increases Investment in Industrious, Leading Provider of Flexible Space Solutions
$100 Million Convertible Preferred-Equity Investment Reflects CBRE’s Conviction About Industrious’ Strong Position in Rapidly Growing Flex-Space Market; CBRE’s Investment in Industrious Now Totals $330 Million
18 May 2022
“Industrious’ sector-leading customer satisfaction scores, outstanding management team and business model set it apart in the flex-space sector,” said Emma Giamartino, CBRE’s chief financial and investment officer. “We are excited about the significant opportunities available to Industrious to bring its innovative, amenity-driven approach to more occupiers and investors around the world.”
Certain of the statements in this release regarding the increased investment in Industrious that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, the further development of the flexible-office space market, occupiers’ appetite for housing their operations in such space and Industrious’ ability to execute its strategy to take advantage of the growth of the flexible-office space, as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2021 and Form 10-Q for the quarter ended March 31, 2022. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at [email protected].