Cambridge, MA – Ascent Developer Solutions LLC, a lender providing customized financing solutions to top-tier real estate investors and developers, has announced the establishment of a new Boston-area office and executive hires to lead its continued expansion across the New England region.
Ascent Developer Solutions provides bridge, renovation, and construction loans to experienced single-family and multifamily investors and developers. The firm also offers diverse lending programs (including revolving products) for homebuilders, large multifamily developers, and manufactured housing communities with loan amounts up to $100 million. The expansion further strengthens Ascent’s presence in the Northeastern U.S., including Massachusetts, Connecticut, New Hampshire, and Rhode Island. The new office will serve as a regional hub for originating and executing deals throughout the Northeast.
Robert Wasmund
“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 help lead the expansion, Ascent has appointed Mario Massimino, senior vice president of sales, who brings extensive experience and relationships in the region across real estate development and finance as a former partner at MB Financial Group. He will drive originations throughout the Northeast while strengthening 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,” said Massimino. “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.”
Ascent has appointed three additional new hires to better serve regional client demand as the firm continues to scale its East Coast operations. Anthony Capelli, Matthew Pedone, and Chris Sava join the firm each as vice president/loan officer.
“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. “For more than a decade, we have maintained a strong relationship with Robert Wasmund and his team, and their ability to execute consistently exceeds the industry standard. 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. 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.”