The Real Deal Los Angeles

Brookfield partners with workspace provider Convene

The commercial firm was an early investor in the meeting space startup
October 06, 2017 06:00PM

Renderings of Convene’s spaces at 777 South Figueroa (Convene)

Brookfield Property Partners is welcoming a new tenant.

The landlord is partnering with meeting-space provider Convene on several of its Downtown Los Angeles office properties, the Commercial Observer reported.

Convene will launch in Brookfield’s Wells Fargo Center at 333 South Grand Avenue and its 777 Tower at 777 South Figueroa Street in early 2018, according to Convene’s website. Other locations have not yet been disclosed.

Convene designs and manage workspaces, on-demand meetings and events. The company also provides food and beverage services, planning and production support and a mobile app for tenants.

The Brookfield partnership will mark Convene’s first entrance into the West Coast market, expanding its portfolio of locations that include New York City, Boston and Philadelphia.

Brookfield, which owns $65 billion in total assets, was an early investor in the office provider. The company anchored Convene’s $20 million Series B and $68 million Series C fundraising in 2016 and 2017, respectively.

The partnership comes on the heels of WeWork’s recent decision to partner with hospitality leader Airbnb, reflecting a larger push towards hospitality-centric offices. [CO] – Natalie Hoberman