X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Riggs Kubiak Riggs Kubiak

Honest Buildings is promising to disrupt capital planning on construction projects with a new purpose-built technology platform specifically tailored to help owners better deploy capital and mitigate risk. The company recently completed its Series B funding, raising $30 million from a broad group of investors that included Brookfield Property Partners, Oxford Properties Group, The Durst Organization and DivcoWest Real Estate Investments. As part of the round, Ric Clark of Brookfield Property Partners, Michael Turner of Oxford Properties and Lisa Picard of Equity Office Properties, joined the firm’s board of directors. Honest Buildings says that the platform will help institutional real estate owners more efficiently deploy capital and produce better risk-adjusted returns.

“Today, there is $10 trillion in global construction spend per year—to put into perspective how big this market is, there has only been $6 trillion of gold mined, ever,” Riggs Kubiak, co-founder and CEO of Honest Buildings, tells GlobeSt.com. “This annual market spend in construction is projected by McKinsey to grow rapidly over the next 10-20 years. Because of the magnitude of this opportunity PWC reported that they expect institutional real estate investors assets under management to grow from $64 trillion today to over $100 trillion by 2020. The real estate owner’s job is tied up in how they deploy all this capital and the value they create out of their assets. While there are currently many important technology platforms for general contractors and/or architects, there is nothing purpose-built for the owners—the ones who take all the risk.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.