KKR and TIGA Investments Acquire The Executive Centre
The Executive Centre (TEC) announced this week that it signed an agreement under which KKR and TIGA Investments will acquire TEC. The investment will enhance The Executive Centre’s position as one of the leading flexible workspace operators in Asia Pacific and the Middle East. The company currently boasts over 150 centers across 32 cities and 14 markets. According to the release, “as part of the transaction, funds advised by HPEF Capital Partners and CVC Capital Partners will exit their investments in the Company.”
IWG Signs Franchise Agreements in London
Facilities Management Journal reported this week that International Workplace Group (IWG) “has signed multiple new franchise agreements in the London suburbs to meet growing demand for hybrid work.” The new deals focus on outer city commute zones and IWG plans to open 15 new flexible workspace locations through the franchise deals. IWG signed deals with WG1 Offices Limited, Pluto Workspace, and Seedspace. Pluto Workspace will open five new flexible workspace locations in the suburbs of South London, while Seedspace will open five locations across East London suburbs.
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Office Evolution Signs First Landlord Deal
Office Evolution announced this week that it is expanding in the Greater Houston area with its first landlord deal. The new flexible workspace center will be located at 14150 Huffmeister Road in Cypress, Texas; and the new owners will be CRE owners Putul and Samir Banerjie. Speaking about the deal, Banerjie said that leveraging flexible workspace within their building “provides a great balance to the tenant profile.” The landlord agreement points to a larger trend within the CRE industry, as increasingly landlords are turning to flexible space to cater to today’s tenant needs.Share this article