San Jose-based Urban Catalyst reports it raised $131 million in its first funding round to further transform downtown San Jose through the construction of seven ground-up real estate development projects. The Opportunity Zone fund company secured 356 commitments from a diversified investor base including tech workers from nearby companies that accounted for nearly 75% of the investments in 2020. The Fund’s Opportunity Zone projects are focused on revitalizing downtown San Jose into a vibrant place to live, work and visit.
Urban Catalyst’s Erik Hayden says, “During a year of extreme uncertainty, where we saw the stock market whipsaw like a roller coaster, our fundraising is an indication investors are looking to safely diversify into quality real estate. Now comes the important part of Fund I, and that is building quality projects.”
Urban Catalyst Fund I closed escrow on its final property last month and the developer expects to start construction on all of its projects in 2021 and 2022.
*Pictured Fountain Alley Building in San Jose
Dennis Kaiser is Vice President of Content and Public Relations for
Connect Commercial Real Estate. Dennis is a communications
leader with more than 30 years of experience.
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