Elliott Backs Firm Targeting $5 Billion of Property Loans Yearly

Author

Bloomberg

Jul 19, 2024

Bloomberg

1 min read

Elliott Investment Management partnered with Robert Wasmund, the former chief executive officer of Genesis Capital, to build out a new lender for residential development.

The platform, Ascent Developer Solutions, will offer short-term, secured loans for the purchase, renovation and building of housing properties — from single-family homes to apartment buildings — as well as post-completion bridge financing, according to a statement Friday. AscentDS will be backed by funds managed by Elliott, which committed equity capital to the firm.

Read more on Bloomberg.

‹ Ascent Developer Solutions launches to serve construction loan needs

California property lending firm gets huge backing ›

Ascent Developer Solutions

Contact

TheTeam@AscentDS.com

Loan Programs

Ground-Up Construction

Company

Ascent Developer Solutions LLC (“Ascent”) makes commercial, business-purpose loans secured by real estate. Loans are for business or investment purposes only and not for personal, family, or household use. This is not a commitment to lend. All loans are subject to underwriting, credit approval, and applicable due diligence. Terms, rates, and loan availability are subject to change, and other restrictions may apply. Ascent conducts lending activities only where it is properly licensed or exempt from licensing requirements, and the facts of a particular transaction may affect whether Ascent may lend in a given state. NMLS ID 2533498. Arizona CBK-2009336; California 60DBO-191225; Minnesota MN-MO-2533498 (including MN-MO-2533498.1); Nevada NMC-128339; North Dakota MB105153; Oregon 2533498; South Dakota 2533498.ML-NR; Utah 14207437; Vermont CL-2533498. For licensing information, visit NMLS Consumer Access.

© 2026 Ascent Developer Solutions LLC. All Rights Reserved. 15821 Ventura Blvd, Suite 200, Encino, CA 91436

Lending Disclosures

Ascent Developer Solutions

Contact

TheTeam@AscentDS.com

Loan Programs

Ground-Up Construction

Company

Ascent Developer Solutions LLC (“Ascent”) makes commercial, business-purpose loans secured by real estate. Loans are for business or investment purposes only and not for personal, family, or household use. This is not a commitment to lend. All loans are subject to underwriting, credit approval, and applicable due diligence. Terms, rates, and loan availability are subject to change, and other restrictions may apply. Ascent conducts lending activities only where it is properly licensed or exempt from licensing requirements, and the facts of a particular transaction may affect whether Ascent may lend in a given state. NMLS ID 2533498. Arizona CBK-2009336; California 60DBO-191225; Minnesota MN-MO-2533498 (including MN-MO-2533498.1); Nevada NMC-128339; North Dakota MB105153; Oregon 2533498; South Dakota 2533498.ML-NR; Utah 14207437; Vermont CL-2533498. For licensing information, visit NMLS Consumer Access.

© 2026 Ascent Developer Solutions LLC. All Rights Reserved. 15821 Ventura Blvd, Suite 200, Encino, CA 91436

Lending Disclosures

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