US residential real estate lender Ascent Developer Solutions (AscentDS) has provided a $400m (€348m) construction debt facility to Thomas James Homes (TJH) to support the homebuilder’s continued expansion.
Elliott Investment Management-backed AscentDS said the facility provides additional capital for TJH’s ongoing expansion across California, the Pacific Northwest and Arizona.
TJH, owned by funds managed by Oaktree Capital Management, is the nation’s largest single-lot homebuilder, with more than 1,000 luxury homes delivered across major US markets.
Robert Wasmund, founder and CEO of Ascent Developer Solutions, said: “AscentDS is proud to continue our growth trajectory alongside Thomas James Homes. This milestone facility is a natural progression of a productive relationship with TJH and a testament to our team’s white-glove approach to building long-term relationships with highly sophisticated borrowers.
“It also highlights the value of our best-in-class in-house construction management services platform.”
Jamie Mead, CEO of Thomas James Homes, said: “This facility reflects continued recognition of Thomas James Homes’ differentiated approach to luxury single-lot infill development.
“It enables the next phase of disciplined growth as we scale efficiently across high-demand markets. Our partnership with Ascent Developer Solutions reinforces our commitment to precision, certainty, and performance. These qualities define our platform and set us apart in infill residential construction.”
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