Honest Buildings Accelerates Through Milestone of $1 Billion in Projects Managed for Real Estate Owners

NEW YORK, Sept. 7, 2016 /PRNewswire/ -- Honest Buildings today announced that real estate owners have managed over $1 billion in capital and tenant improvement projects through the software since last year as the company has expanded its platform across the industry and the U.S.  

Chicago-based Zeller Realty Group is the latest company to join Honest Buildings' prestigious roster of large real estate owner clients, including The JBG Companies, Rudin Management, Invesco, Related Companies, The Durst Organization, CommonWealth Partners, Parkway Properties, SL Green Realty Corp. and Beacon Capital.

Over the past few months, Caddo Holdings, Federal Capital Partners, MRP Realty, and Rising Realty have also implemented Honest Buildings to manage and track their capital and tenant improvement projects.

"We haven't seen a technology platform that saves more time, money or headaches for building owners than Honest Buildings does," said Circle Ventures' partner Michael Milstein, who led a round of strategic investment for the portfolio project management platform. "It is no surprise that owners nationwide are running their projects through Honest Buildings, digitizing longtime analog processes, and benefiting from the return on that investment."

Beacon Capital Partners, one of the largest private equity owners in the U.S., manages 12 million square feet through the platform. Sara Shank, Head of Portfolio Management at Beacon, views Honest Buildings as a way to give her team a competitive advantage.

"Beacon has always adopted new technology to maintain its position as a savvy market leader. It is critical to be able to easily access and exchange the most up-to-date information on capital projects and service contracts happening across our national portfolio," she said. "The Honest Buildings platform allows our entire team to be on the same page with accurate, real-time data."

Parkway Properties, a publicly-traded REIT with approximately 17 million square feet of office space under management, began using Honest Buildings at the beginning of 2016 and is already capturing significant value.

"Honest Buildings allows everyone on my team to get immediate status updates on all of our projects without the pain of compiling an Excel report or the delay of waiting for a weekly meeting," said Michael Fransen, Senior Vice President and Managing Director of Parkway Properties. "At all times we know which projects are on time and on budget and which ones need attention." 

"The rate at which the country's foremost commercial real estate owners are adopting the Honest Buildings platform demonstrates our belief that the industry needs a technology-driven solution far superior to email, spreadsheets, paper and pens to manage and track projects within real estate portfolios," said Riggs Kubiak, Co-Founder and CEO of Honest Buildings. "We consider this $1 billion in projects closer to achieving our mission to accelerate urban progress by empowering collaborative, data-driven decision making, project by project, building by building, city by city."

About Honest Buildings
Honest Buildings is the leading intuitive, data-driven project management and procurement platform built for commercial real estate owners and managers. Founded in 2012 by Riggs Kubiak, the platform serves industry leaders like SL Green Realty Corp., Related Companies, Invesco, Parkway Properties, and The JBG Companies, which use Honest Buildings to centralize project data, increase transparency, automate bid management, and standardize reporting. Owners rely on the platform to manage over $1 billion in total project value. To learn more about Honest Buildings, visit: www.honestbuildings.com.

SOURCE Honest Buildings