Cambridge, Mass. — Ascent Developer Solutions has expanded into New England with the opening of a new Boston-area office and the appointment of four senior lending executives, strengthening the firm’s presence across the Northeast as it surpasses $3 billion in total loan originations.
The relationship-based real estate lender said the new office will serve as its regional hub for Massachusetts, Connecticut, New Hampshire, and Rhode Island, supporting developers and real estate investors with bridge, renovation, and construction financing.
“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 has named Mario Massimino senior vice president of sales. A former partner at MB Financial Group, Massimino will oversee loan originations throughout the Northeast and strengthen relationships with developers and sponsors across the region.
“New England is an incredibly relationship-driven region, and having a local presence is critical to building trust and executing deals effectively,” Massimino said. “Having worked closely as a developer for over a decade with Robert Wasmund, I was drawn to the team’s deeply rooted, relationship-first approach. 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.”
The company also announced the hiring of Anthony Capelli, Matthew Pedone, and Chris Sava as vice presidents and loan officers to support increasing demand across the region.
Michael Massimino, CEO of MB Financial Group, said Ascent’s developer-focused approach has distinguished the firm in the commercial real estate lending market.
“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,” he said. “Their expansion into New England is a tremendous benefit to developers throughout the region, and we are proud to be a part of their continued growth and success.”
The expansion comes during a period of rapid growth for the company, which announced it has originated more than $3 billion in loans since launching with backing from Elliott Investment Management in July 2024.
Ascent has also expanded its workforce to more than 130 employees nationwide, adding professionals across loan originations, credit, and construction management while increasing the size of its Los Angeles headquarters to support growing transaction volume.
“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 experienced single-family and multifamily investors and developers. The firm also offers financing programs, including revolving loan products, for homebuilders, multifamily developments, and manufactured housing communities, with loan amounts of up to $100 million.
