Dallas-based commercial real estate firm CBRE Group Inc. (NYSE: CBRE) said Tuesday it will acquire New York-based coworking company Industrious National Management Company LLC.

Dallas-based CBRE had previously invested in Industrious—a flexible workspace provider with more than 200 units across over 65 cities—through a roughly 40% equity interest and a $100 million convertible note.

Dallas-based real estate services firm CBRE has taken control of co-working firm Industrious — a bet on shared working space as more employees return to

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.

CBRE Group CBRE recently announced a definitive agreement to acquire a leading provider of flexible workplace solutions, Industrious National Management Company, LLC. The deal is scheduled to close later this month.

The commercial real estate giant has agreed to buy Industrious in a deal that values the coworking firm at about $800 million.