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.”
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
