Private Lender Ascent Grows Encino Headquarters Past $3.7B Origination Mark

Private Lender Ascent Grows Encino Headquarters Past $3.7B Origination Mark

Private real estate lender Ascent Developer Solutions is enlarging its Los Angeles-area headquarters as the two-year-old firm crosses $3.7 billion in loan originations.

Ascent signed a lease for 22,000 square feet at 15821 Ventura Boulevard in Encino, an office property owned by Douglas Emmett in the San Fernando Valley. The new space adds 13,000 square feet to the firm’s footprint. Ascent now employs more than 150 people, and the company said the expanded headquarters will accommodate further hiring alongside a growing volume of transactions.

Geographic and Product Expansion

The headquarters growth comes amid a broader buildout at the lender. Ascent recently moved into financing for manufactured housing communities and infill development projects. In July, it brought on John Richardson as chief credit officer, based out of the firm’s New England office in Massachusetts — a location that has nearly doubled its headcount since opening in June.

Founded in July 2024 by CEO Robert Wasmund with backing from Elliott Investment Management, Ascent focuses on short-term lending for acquisitions, renovations and construction across single-family, homebuilder and multifamily assets, along with bridge financing after project completion. Its product set also includes revolving lending programs and manufactured housing community loans of up to $100 million.

Douglas Emmett, the Los Angeles-based landlord of the Encino building, trades at $10.39, up 1.29% from its previous close of $10.25, with a market capitalization of roughly $1.74 billion. The lease adds to occupancy at a suburban Los Angeles office asset in a market where landlords have worked to fill space as return-to-office patterns stabilize.

Ascent’s rapid scale-up reflects continued activity in private residential and transitional lending, where non-bank lenders have stepped in to serve builders and developers seeking faster execution than traditional construction lenders typically provide.

What to watch

• Further headcount announcements from Ascent’s Encino headquarters and Massachusetts office
• Updates on origination volume as the firm moves beyond the $3.7 billion mark
• Any additional product lines in manufactured housing or infill development financing
• Douglas Emmett’s upcoming earnings report for leasing activity across its Los Angeles portfolio

Source: original release