Ascent Developer Solutions adds Boston-area office

Los Angeles-based Ascent Developer Solutions, a lender that provides financing solutions to single-family and multifamily developers and investors, announced on Monday that it will expand into New England. 

According to the announcement, the company opened a Boston-area office and hired senior executives to lead its expansion across New England, a move the company says advances its strategy to operate as a national lender to real estate investors and developers.

The new office will act as a regional hub for originating and executing loans throughout the Northeast, including Massachusetts, Connecticut, New Hampshire and Rhode Island. Ascent said local staffing and market expertise are intended to speed decision-making and support developers through closer, on-the-ground relationships.

“The establishment of our Northeastern hub is a direct response to the demand we’re seeing from developers in the region,” said Robert Wasmund, founder and CEO of Ascent Developer Solutions. “By establishing a stronger local presence and continuing to invest in relationships on the ground, we’re able to better support both existing and new clients in markets with strong long-term fundamentals.”

To lead the expansion, Ascent named Mario Massimino senior vice president of sales. Massimino, a former partner at MB Financial Group, brings development and finance experience and longstanding relationships across the region, the company said. He will oversee originations across the Northeast and focus on building and strengthening relationships with developers and sponsors.

“New England is an incredibly relationship-driven region, and having a local presence is critical to building trust and executing deals effectively,” Massimino said. “What differentiates Ascent is a profound understanding of the development process from start to finish, and that perspective as developers allows us to provide the kind of reliable partnership borrowers need in today’s market.”

Ascent also hired three additional executives to meet regional demand as it scales its East Coast operations. Anthony Capelli, Matthew Pedone and Chris Sava joined the firm as vice president/loan officers, all with existing ties to New England’s development and investment community.

Market participants say tighter bank credit and elevated rates have pushed more developers toward private lenders that can move quickly and structure more customized capital stacks. Ascent’s focus on a regional hub model and relationship lending reflects this shift, giving developers another source of nonbank capital for acquisitions, redevelopment and ground-up projects.

“As a vertically integrated real estate investor and developer, having a capital partner like Ascent Developer Solutions provides the certainty of execution and scalability necessary to grow our business and capitalize on opportunities in today’s market and throughout any economic cycle,” said Michael Massimino, CEO of MB Financial Group. “What sets Ascent apart is not only its access to capital, but also its deep understanding of the development and construction process and its unwavering commitment to its borrowers.”

Ascent’s New England move comes amid a broader growth phase. Since launching with backing from Elliott Investment Management L.P. in July 2024, the firm has originated $3 billion in loans, the company said, highlighting continued demand for flexible, developer-centric financing.

In parallel with its geographic buildout, Ascent has grown to more than 130 industry professionals nationwide, adding staff across originations, credit and construction management. Its Los Angeles headquarters has also expanded to support higher deal volume and serve as the operational center of its platform.

“With a bi-coastal presence now in place, we’re positioned to scale more effectively while staying true to the relationship-driven approach that defines our business,” Wasmund said. “We’re continuing to invest in the markets, people and capabilities that allow us to deliver consistent return for our clients.”

Ascent Developer Solutions provides bridge, renovation and construction loans to single-family and multifamily investors and developers. The company also offers revolving and other lending programs for homebuilders, large multifamily sponsors and manufactured housing communities, with loan amounts up to $100 million.