Graham Investment

What Graham Investment does

Graham Mortgage Corporation (DBA Graham Mortgage or GMC) is a privately held, Dallas-based private real estate lender founded in 1978 by Joe M. Graham and acquired by current President Dean Castelhano in January 2013. The company originates three core products: traditional commercial real estate bridge loans (secured by first lien deeds of trust on income-producing properties including apartments, shopping centers, storage facilities, mobile home parks, and warehouses, with comfort quoting up to $5M), credit tenant construction loans (up to 100% of project costs for single-tenant build-to-suit projects with 10+ year leases), and small construction loans (under $2.5M for retail, single-family, and townhouse projects in major Texas markets). Pricing is quote-based with interest rates above 12% on income deals and up to 14% on land transactions, structured as two-year interest-only loans with upfront and exit fees, adjusted for risk profile, credit profile, and LTV.

Revenue is generated through interest income on the loan portfolio plus upfront and exit fees on new originations. Capital is sourced from a base of existing and new investors, with Joe Graham himself continuing to participate as a loan investor. Go-to-market is a hybrid of direct origination through a Dallas-based team of seven dedicated staff and a broker referral channel that includes BMC Capital, NorthMarq, Old Capital, Terrydale Capital, Equity Capital Person, The Roland Company, and individual brokers such as Keith Van Arsdale and Ernest DesRochers. Geographic focus is exclusively Texas, with a concentration in the Dallas-Fort Worth metroplex. The company has funded over $550M across 400+ loans since 1978 and reports zero missed closings across $380M of transactions in the past 10+ years—a track record that constitutes the core of its competitive positioning.

Name

Graham Investment

Legal name

Graham Mortgage Corporation

Website

https://gm-tx.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

1–10 employees

Short description

Graham Mortgage Corporation is a Dallas-based private real estate lender specializing in commercial real estate bridge loans, credit tenant construction loans, and small construction loans (under $2.5M) for Texas-based real estate investors and developers, pricing at 12-14% interest with upfront and exit fees.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Lending

NAICS

Real Estate Credit (522292)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Construction & Development (C&D) Lending — Commercial/Multifamily (FSALADAH)

Keywords

• Private real estate lending
• Commercial bridge loans
• Construction financing
• First lien mortgage
• Real estate debt capital

Headquarters

HQ city

Dallas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Loan Interest Income: Graham Mortgage earns interest income on bridge loans and construction loans. Typical interest rates range above 12% on income deals and up to 14% on land transactions. Loans are typically two-year, interest-only structures.
2. Upfront and Exit Fees: The company charges upfront fees and exit fees on loans. These fees contribute to revenue alongside interest income.
3. Origination Fees: Fees charged for loan origination services, typically adjusted based on risk profile, credit profile, and LTV of the underlying property.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Graham Mortgage Corporation is a private, Dallas-based real estate lender that originates first-lien bridge loans, construction loans, and credit tenant construction loans secured against income-producing commercial real estate and development projects, primarily in Texas. Loans are short-duration, interest-only structures priced via unit (quote-based) pricing, with rates typically above 12% on income deals and up to 14% on land transactions, alongside origination, upfront, and exit fees. The firm targets real estate investors, developers, and borrowers whose transactions fall outside conventional bank criteria and emphasizes reliable closings and quick turnaround.

Product overview

Graham Mortgage is a private real estate lending platform offering three distinct loan products: Traditional Commercial Real Estate Bridge Loans for income-producing properties secured by first lien deeds of trust, Credit Tenant Construction Loans for single-tenant build-to-suit projects with 10+ year leases, and Construction Lending for small retail and residential projects under $2.5 million in Texas markets. The company operates as a non-bank private lender specializing in quick turnaround times and reliable closings.

Differentiator

Problem solved

Functional benefit

Products and services

• Traditional Commercial Real Estate Bridge Loans First lien deed of trust loans on traditional income-producing commercial real estate (apartments, shopping centers, storage facilities, mobile home parks, warehouses), with limited financing of residential land, commercial land, and smaller office properties. Targeted at real estate investors and developers in Texas needing fast, short-duration capital.
• Credit Tenant Construction Loans Construction financing covering up to 100% of project costs for single-tenant, build-to-suit commercial projects with lease terms of 10 years or longer, designed to mitigate property depreciation and tenant turnover risk while providing longer-term credit stability.
• Construction Lending Construction loans for projects valued at $2.5 million and under, limited to small retail projects, single-family dwellings, and townhouses in major Texas markets, with competitive rates and tailored terms.

Quantifiable outcome

• Over $550 million of liquidity provided to the market since 1978, closing over 400 loans
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• Ernest DesRochers (NorthMarq)coreChannel Partner/ Reseller/ Distributor · 1 January 2023Top performer in 2023, securing three loans totaling $7 million for Graham Mortgage. As a broker at NorthMarq, brings consistent deal flow and quality loan opportunities.
• Brock Hudson (CBRE)minorChannel Partner/ Reseller/ DistributorCommercial real estate broker at CBRE who refers loan opportunities to Graham Mortgage.
• Brian Gramlich (Terrydale Capital)coreChannel Partner/ Reseller/ DistributorBroker at Terrydale Capital who consistently brings valuable loan opportunities. Terrydale is recognized as a key referral partner.
• Stephen A. Scott (Equity Capital Person)minorChannel Partner/ Reseller/ DistributorBroker at Equity Capital Person who brings loan opportunities to Graham Mortgage.
• James Roland (The Roland Company)minorChannel Partner/ Reseller/ DistributorBroker at The Roland Company who brings loan opportunities to Graham Mortgage.
• Shawn Zafarpour (Urban Arise)minorChannel Partner/ Reseller/ DistributorBroker at Urban Arise who brings loan opportunities to Graham Mortgage.
• David Drumm (Carrington, Coleman, Sloman, & Blumenthal)coreImplementation/ SI/ Consulting PartnerThe company's 'secret weapon' - a law firm that has provided closing services for over 40 years. David Drumm has added speed and great efficiency to the closing process with fair documents and fair fees.
• Keith Van Arsdale (BMC Capital)coreChannel Partner/ Reseller/ DistributorTop producer in 2022 with over $10 million in funded loans. BMC Capital consistently brings quality loan opportunities to Graham Mortgage.
• Susser BankminorGTM or Marketing PartnerHosted the Scouting Classic charitable golf tournament that Graham Mortgage sponsored. Susser Bank and Graham Mortgage partnered for this community event.
• NewFields Environmental ServicesminorImplementation/ SI/ Consulting PartnerEnvironmental services firm that works with Graham Mortgage to investigate, underwrite, and solve environmental conditions on properties. Critical to the due diligence process with rapid response capabilities.

Scale indicators10 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Walker & Dunlop: Large-scale commercial real estate finance company with bridge, construction, and permanent lending capabilities. Represents the institutional, scaled end of the CRE lending spectrum that Graham competes against for larger deals.
• Angel Oak Mortgage Solutions: Larger non-QM and private mortgage lender operating across multiple niches with institutional capital. Broader portfolio than Graham but overlapping private/non-bank credit positioning and similar high-yield products.
• JLL Capital Markets: Global commercial real estate services and investment sales firm with a debt origination business. Adjacent to Graham as a competing capital source for commercial real estate borrowers and brokers.

Others

• NorthMarq: Commercial mortgage banking and broker firm that is one of Graham's named referral partners. Adjacent ecosystem participant that channels deal flow to Graham rather than competing directly as a principal lender.

Direct peers

• Kiavi: Tech-enabled private real estate lender (formerly LendingHome) providing bridge and renovation financing to investors. Comparable hard-money, asset-based lending approach with similar borrower and broker ecosystem.
• Temple View Capital: Private hard-money lender providing bridge, fix-and-flip, and ground-up construction loans to real estate investors. Operates in the same high-yield, asset-based lending space with similar deal sizes.
• CoreVest Finance: Private lender to residential real estate investors offering bridge, fix-and-flip, and rental loans. Operates a similar hard-money origination model with broker-driven deal flow and institutional capital backing.
• RCN Capital: Private real estate lender offering bridge, construction, and long-term rental financing to investors and developers. Comparable niche focus on time-sensitive, asset-based loans outside traditional bank channels.
• Lima One Capital: Direct hard-money lender to real estate investors with bridge, construction, and rental portfolios. Closely analogous business in product structure, underwriting speed, and reliance on speed/certainty as differentiators.
• Roc Capital (Roc360): Direct private real estate lender offering bridge, fix-and-flip, and new construction financing to investors, very similar high-yield hard-money model to Graham Mortgage. Comparable borrower profile, product mix, and reliance on broker referral channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/graham-mortgage-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Graham Investment