NEW YORK CITY—What a difference a year makes. Honest Buildings announced last September that it had surpassed $1 billion in projects managed on its platform. Now, that figure is up to nearly $6 billion of projects across North America.

The 500% growth rate was achieved in partnership with real estate owners including Brookfield, SL Green, Beacon Capital Partners, Invesco, JBG Smith, Parkway and MRP Realty utilizing the platform to manage their capital and tenant improvement projects. Over the past year, the company has added the Durst Organization, Silverstein Properties, Harvest Properties, DivcoWest, Washington REIT and others as clients.

“I think a good part of the reason for their growth is that they clearly designed this from the perspective of the landlord,” says Robert Entin, chief information officer and EVP with Vornado Realty Trust. “That was something I had never seen and I still have not seen in the market, and one of the things that makes it very exciting because the product handles almost exactly what we, as the landlord, would want it to handle.”

As the number of owners utilizing the platform has increased, Honest Buildings has added new features and enhanced capabilities to address their specific needs. These include a new approvals workflow, historical data comparison tools, more robust project milestone tracking, customized and standardized portfolio-wide reporting, and vendor management features.

“Real estate owners and their investors have long been labeled slow adopters of technology,” says Riggs Kubiak, Honest Buildings' co-founder and CEO. “The only reason that may be true is because there has been a lack of technology solutions built specifically for owners by teams who deeply understand their workflows and data needs from experience.

“We believe that real estate owners are many of the most entrepreneurial people in the world who effectively are masters of risk taking by managing and developing buildings that impact urban areas all over the world,” he adds. “We are proud to be their partners in building a platform exclusively for them to deliver projects faster and more efficiently than ever before.”

Instant Insights /

Honest Buildings Sees 500% Y-O-Y Volume Growth

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