Ascent Developer Solutions (AscentDS) has been launched through a partnership between Robert Wasmund and funds managed by Elliott Investment Management L.P. This new relationship-based lender offers customized financing solutions to real estate developers, with the support of an equity capital commitment from Elliott. AscentDS is headquartered in Los Angeles and provides short-term, secured loans for acquisition, renovation, construction and post-completion bridge financing for single-family homes, homebuilders and multifamily properties. The company also has an in-house team dedicated to construction servicing and valuation.
“We are proud to announce the launch of AscentDS with our partner Elliott,” stated Wasmund confidently. “This collaboration allows us to meet the crucial financial needs of top developers during a time when interest rates are high, traditional construction financing is disrupted,and regional banks have pulled back.”
Legal counsel was provided by Gibson Dunn for AscentDS while Nomura assisted with its launch process.WilmerHale advised Elliot on this venture.
The article discusses how Robert Wasmund’s partnership with funds managed by Elliot Investment Management L.P.has ledtothe creationofa new private lending platform called Ascent Developer Solutions (Asent DS). This firm will offer tailored financial solutionsforreal estate developerswith backing fromElliot’s equity capital commitment.Asent DSis locatedin Los Angelesand specializesinproviding secure short-term loansforacquisition,rehabilitation,andconstructionofsingle-family,homemaker,multifamilyproperties as well as bridgingloansafter completion.Thecompanyhasan internalteamthat handlesvaluationsandconstruction services.”WeareproudtoannounceourpartnershipwithElliottwhichallowsustomeetthecriticalfinancialneedsofleadingdevelopersduringatimeofhighinterestrates,disturbedconstructionfinancing,andthereductionofoverallbankingoptions,”saidWamundsaidconfidently.GibsonDunnprovidedlegalcounseltoAscentDSwhileNomurawasinvolvedinthe launchprocess.WilmerHaleadvisedElliottonthisventure.
