SAN JOSE, Calif.--(BUSINESS WIRE)--Urban Catalyst, Silicon Valley’s premier Opportunity Zone (OZ) Fund, has been named a top tracked OZ fund manager by Novogradac, a leading provider of professional services to the industry.
Novogradac’s Opportunity Zones Investment Report for 2021 found that only 36 QOF managers have raised $150 million or more, placing Urban Catalyst in the top 5% of tracked Qualified Opportunity Zone Fund (QOF) managers in total equity raised. Urban Catalyst ranks 25th among the 613 reporting managers.
“Investors are excited about being part of the transformation of downtown San Jose,” said Erik Hayden, Founder and CEO of Urban Catalyst. “By participating in our funds they have the opportunity to have a positive impact on the community. We’re delighted with the response that we have seen.”
Hayden also noted that San Jose was recently named the #1 city in the U.S. for attracting innovation-oriented industries by the real estate services firm JLL. In the past year alone, Bloomberg recognized San Jose as the #1 region in the country poised for post-pandemic recovery, Moody’s ranked the city in its top ten based on similar criteria, and CBRE named the San Jose metro area the #1 market for office space development.
Urban Catalyst projects planned or underway include senior and student housing, as well as office, retail, and multifamily. More information about these projects can be found here.
About Urban Catalyst
Urban Catalyst is focused on ground-up development projects in downtown San Jose. In 2020, Urban Catalyst surpassed their fundraising goal, securing $131 million from investors during its first round for its Fund I. In 2021, Urban Catalyst successfully closed its first year of a three-year fundraising for Urban Catalyst Opportunity Zone Fund II. Forbes and the Sorenson Impact Center recognized Urban Catalyst as one of the top 10 Opportunity Zone Funds in the inaugural Forbes OZ 20.