Creativity in Capital Formation
The capital structure is part of the design
We believe capital is not something added after a project is designed, it is part of the design itself. We target opportunities with the potential to create meaningful change, generate attractive risk-adjusted returns, and advance the priorities of the communities in which we invest. Bringing those opportunities to life often requires more than conventional debt and equity. It demands creativity, rigorous underwriting, and the ability to assemble sophisticated capital structures using public incentives, tax credits, grants, subsidies, and other nontraditional funding sources. By designing the project and its capital stack together, we can reduce risk, improve returns, and transform opportunities that may appear financially impossible into viable, executable developments.
The Tools We Use
New Sources of Capital
Stormwater Credits in the Capital Stack
Grand Central was financed with a HUD 221(d)(4) construction loan, which trades a longer approval timeline for 40-year fixed-rate, non-recourse permanent debt at close. Tax increment financing and impact fee credits sat on top of it.
The stormwater solution used nutrient bank credits, buying offsite water quality credits rather than building more onsite treatment. That freed developable area on a constrained site. It is the kind of answer that only surfaces when the entitlement team and the capital team are working the same problem in the same room.
Five Sources of Capital
Affordable does not
pencil on debt alone.
Catalyst, through its nonprofit entity and in partnership with the Lee County Housing Authority, entitled and capitalized Civitas with 4% Low Income Housing Tax Credit equity layered over Bond Financing, HUD CDBG-DR, CDBG, HOME, and NSP funds.
Catalyst exited its position prior to construction. The capability is what carried forward.
Catalyst Capital
Management.
Our Tampa-based investment management affiliate focuses on commercial real estate loans and private credit, including bridge and construction lending, SBA 504, EB-5 financing, and fix-and-flip programs.