Private real estate lender Ascent Developer Solutions is expanding its Los Angeles headquarters after passing $3.7 billion in originations just over two years after launching.

The firm signed a lease for 22,000 square feet at Douglas Emmett’s 15821 Ventura Boulevard in Encino in L.A.’s San Fernando Valley, increasing its footprint by 13,000 square feet. More than 150 employees now work for Ascent, and the firm said the larger headquarters will support both headcount growth and rising transaction volume.

The company has also been broadening its geographic reach and lending products. Ascent recently expanded into manufactured housing communities and infill development, and, in July, hired John Richardson as chief credit officer. Richardson is based in the firm’s New England office in Massachusetts, which has nearly doubled its headcount since opening in June.

CEO Robert Wasmund founded Ascent in July 2024 with the backing of Elliott Investment Management. The company provides short-term loans for acquisitions, renovations and construction involving single-family, homebuilder and multifamily properties, as well as post-completion bridge financing. The firm also offers revolving lending programs and financing for manufactured housing communities with loans of up to $100 million.

Gregory Cornfield can be reached at gcornfield@commercialobserver.com.