Lender seeks return of $3M loan extended to builder of smart homes

FORT COLLINS — A company formed in 2020 to build responsive, smart homes that come with an electric vehicle has been sued by its lender for nonpayment on a $3.1 million loan.

Catalyst Responsive and Miriam Stern were sued by Construction Loan Services II LLC, a Washington company that acts as the agent for Builders Capital Finance LLC, also Washington-based.

Catalyst Responsive lists an address of 145 N. College in the Opera Galleria building. A message left there was not returned. Its website shows a forward looking, futuristic approach to home construction using technology that responds to weather conditions for energy efficiency and includes district heating. Each home comes with a smart electric car that charges whether it is plugged in or not; financing of the electric car is rolled into the home mortgage “without increasing monthly payments,” the company claims.

Catalyst lists James Temple as registered agent with the Secretary of State.

Miriam Stern, according to the lawsuit and to Secretary of State records, lives in Lakewood, New Jersey. Stern is also affiliated with a company formed in 2016 called Garrison Smart Technology, which listed a South Howes address in Fort Collins until the address was changed to 145 N. College when Stern became the registered agent for that company.

Garrison bought seven unimproved lots on South Taft Hill Road across from Blevins Middle School in 2019, according to Larimer County Assessor records. Those lots are now identified as 2002 to 2038 Catalyst Court in the records. Garrison transferred the lots by quit claim deed to Catalyst in November 2020. The original purchase price of the lots appears to be $469,000, according to assessor records. 

The lawsuit filed by Construction Loan Services is scant on details. It simply says that the lender made a loan to Catalyst in November 2020 for $3.1 million. The loan has matured and has not been paid. The lawsuit seeks repayment, costs and fees.

The case is Construction Loan Services II LLC v Catalyst Responsive and Miriam Stern, filed in Larimer County District Court as 2022cv30582.

Source: BizWest