Cypress Equity Investments (CEI), a national multifamily developer and real estate investment firm, and LWK Partners (LWK), a Los Angeles-based private equity firm focused on attainable multifamily housing, have secured a $100 million custom credit facility from Ascent Developer Solutions (AscentDS) to accelerate their Workforce Housing Density Addition strategy across the greater Los Angeles area.
The new facility will provide flexible capital to support LWK-CEI’s initiative to address the region’s housing shortage by leveraging a recent California state law that allows for the addition of net new units within existing multifamily properties. The financing will streamline the transition from acquisition to construction, significantly reducing capital friction and expediting the delivery of new workforce housing units in high-demand neighborhoods.
Cypress Equity Investments has been an active force in the development of institutional-quality housing across the U.S., with a portfolio exceeding 21,000 multifamily units and $13 billion in asset value. The firm’s partnership with LWK Partners has focused on creative, attainable housing solutions for working families through value-add improvements and density expansions.
LWK Partners, which has acquired more than 350 multifamily units since its inception, targets underperforming Los Angeles properties that can be repositioned and expanded. The AscentDS facility provides the partnership with a scalable financing structure that aligns with its mission to create long-term, sustainable housing growth in supply-constrained urban markets.
Ascent Developer Solutions, founded in 2024 by Robert Wasmund, provides short-term secured loans to institutional real estate sponsors across the single-family and multifamily sectors. The firm’s customized financing solutions and proprietary data-driven lending platform have made it a preferred partner for high-growth developers seeking efficient capital execution.
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“This facility with Ascent Developer Solutions marks another important step in advancing our workforce housing density addition strategy. By streamlining capital access and execution, we’re able to accelerate the delivery of high-quality, attainable housing in supply-constrained markets like Los Angeles, a critical need for working families and local communities.”
Michael Sorochinsky, Founder and Chief Executive Officer, Cypress Equity Investments
“AscentDS is proud to continue our strong relationship with Cypress Equity Investments and are looking forward to expanding our relationship with LWK. This facility continues AscentDS’s commitment to partnering with best-in-class sponsors as they develop new strategic approaches to address the national housing shortage.”
Robert Wasmund, Founder and Chief Executive Officer, Ascent Developer Solutions
“The AscentDS facility represents a structural competitive advantage for our platform, uniquely positioning us to execute on our strategy in an expedited manner in a fragmented space.”
Matt Carney, Co-Founder and Partner, LWK Partners
