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Oxford Properties, Durst invest in startup Honest Buildings

Firm raises additional $8M in Series B round

Riggs Kubiak
Riggs Kubiak

 

Honest Buildings raised $8 million from Oxford Properties Group, the Durst Organization and DivCo West Real Estate Investments. The new funding is an addition to the firm’s Series B round, which it announced in October, and brings its total funding to $36 million.

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Honest Buildings previously raised $13 million from Brookfield Property Partners, Rudin Ventures and C-III Capital Partners, among others, in the first part of the Series B round.

The company, founded by Riggs Kubiak in 2012, sells an online platform that allows landlords and developers to oversee construction and repair projects. It is arguably the cost-side counterpart to VTS, whose platform allows landlords to manage their leasing portfolio, among other functions.

Honest Buildings hopes to have a hand in $10 billion worth of transactions this year, Crain’s reported. [Crain’s] — Konrad Putzier

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