NEW YORK, June 28, 2018 — In commercial real estate, capital planning is inextricably tied to an owner’s overall business strategy and effective asset management. The three, five, and ten year capital plan is a reflection of the owner’s strategic priorities and the blueprint for value creation across their investments. Honest Buildings, the only project management platform built for owners and backed by owners, has launched a new Portfolio Capital Planning Platform that lets teams collaboratively create and track capital plans in real time resulting in a Live Reforecast of budget and schedule as compared to waiting to the end of the quarter or year for updates.The new platform allows owners to leverage real time and historical insights to improve accuracy in capital planning — ultimately allowing owners and investment managers to drive returns for their investors through smarter capital deployment and create lasting value at their assets.
Designed for commercial real estate owners and investment managers, the Honest Buildings’ Portfolio Capital Planning Platform fundamentally changes the way that real estate owners manage capital forecasting and unlocks value across their portfolios in many ways:
—Improves Organizational Wide Performance: Dramatically reduce the time it takes to create, maintain, and report on capital plans from underwriting through budgeting all the way to disposition, collaboratively and in real time.
—Reforecasts Instantly: The Live Reforecast feature allows owners to analyze past data, current projects, and future planned spend in a single consolidated view.
—Drives Better Decision Making: Increase forecasting accuracy and reduce risk by leveraging a database of structured project costs.
“We are continuously focused on creating value for owners, which means optimizing the way they manage their capital spend to build and reposition assets. We believe the key to this is in the way capital is deployed, and with the release of the Honest Buildings Capital Planning Platform, owners can be focused on managing and creating value at their assets and building data to allow for better future decisions — instead of managing spreadsheets,” said Riggs Kubiak, CEO and co-founder of Honest Buildings.
The Portfolio Capital Planning Platform is launching with Beacon Capital Partners as its first user, and will be rolled out widely this Fall.
“When Honest Buildings approached us to partner in creating and testing their new Portfolio Capital Planning Platform, we saw an immediate advantage in embracing this new product. We believe that moving the capital planning process away from spreadsheets and into a system that tracks the deployment of capital in real time will help us create efficiencies and make better decisions,” said Sara Shank, Managing Director, Beacon Capital Partners.
Following the recent close of Honest Buildings’ Series B round of $30M, this launch will further scale the company’s impact on progressing the urban landscape by empowering collaborative, data-driven decision making for commercial real estate owners.
ABOUT HONEST BUILDINGS
Honest Buildings is the only project management platform built for real estate owners, and backed by real estate owners. Global, national and local owners like Brookfield, Oxford Properties, First Capital Realty, The Durst Organization, Beacon Capital Partners, Invesco, SL Green, Silverstein Properties, JBG Smith, Harvest Properties, Parkway Properties, and Rudin Management are utilizing the power of our platform’s data-driven technology to ensure capital and construction projects are completed on time and on budget.