Urban Catalyst has 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.
Urban Catalyst secured commitments from a diversified investor base including tech workers from nearby companies that accounted for nearly 75 percent of the investments in 2020. The fund’s opportunity-zone projects reflect strong investor interest in revitalizing downtown San Jose into a vibrant place to live, work and visit.
“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,” said Erik Hayden, founder of Urban Catalyst. “Now comes the important part of Fund I, and that is building quality projects.”
In late December 2020, Urban Catalyst Fund I closed escrow on its final property. Urban Catalyst Fund I continues to submit bui
