Trinity Real Estate

What Trinity Real Estate does

Trinity Real Estate Finance, Inc. is a Texas-based commercial mortgage banking company founded in June 1996 that originates and services mortgage loans on income-producing commercial real estate. The company operates as an intermediary between two distinct customer segments: commercial real estate investors and developers seeking debt capital (across office, retail, apartment, hotel, industrial, and self-storage asset classes), and institutional capital providers — primarily 32 life insurance company correspondents — seeking loan origination flow and ongoing portfolio servicing. Trinity is headquartered in San Antonio with a second production office in Austin and a member of Real Estate Finance Associates (REFA), a national affiliation of independent mortgage banking firms.

The firm's product set spans the full commercial debt capital stack: fixed-rate and floating-rate permanent loans, mezzanine debt, bridge financing, construction/permanent loans, forward commitments up to one year, and select equity co-investments. Loan sizes range from $1 million minimum to over $100 million, with typical structures being non-recourse at par with flexible prepayment terms. In addition to the 32 life insurance correspondents, Trinity maintains access to Fannie Mae DUS sources, Freddie Mac, CMBS originators, REITs, pension fund advisors, banks, and private equity funds, giving it broad capital-source optionality for borrowers.

Trinity generates revenue from two streams: (1) transaction-based loan origination fees earned when arranging financing between borrowers and its correspondent network, and (2) recurring servicing fees on its $2.2 billion loan portfolio, which has grown from $96 million in 1996. The company is led by founding Principals S. Kirk Oden, Derek R. Stokes, William R. Holshouser, Michael A. Sela, and Will C. Kiesling — all active full-time originators — backed by a closing department and a five-person servicing group. Total headcount is approximately 20–25 across production, closing, and servicing functions.

Name

Trinity Real Estate

Legal name

Trinity Real Estate Finance, Inc.

Website

https://trinityref.com

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Trinity Real Estate Finance is a Texas-based commercial mortgage banking firm that originates and services loans on income-producing real estate for investors and developers, arranging financing through 32 life insurance correspondent lenders and managing a $2.2 billion servicing portfolio.

Ownership category

akta.pro rank

Product category

Commercial Mortgage Banking

NAICS

Finance and Insurance (52)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Debt & Structured Finance / Mortgage Brokerage (BPAJABAK)

akta.pro secondary industries

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE), Construction & Development (C&D) Lending — Commercial/Multifamily (FSALADAH)

Keywords

• Commercial mortgage banking
• Loan origination services
• Loan servicing
• Correspondent lender network
• Income property financing

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Loan Origination Fees: Trinity originates mortgage loans for borrowers (real estate investors and developers) and earns arrangement/origination fees from lenders. The company arranges financing between borrowers and its network of 32 life insurance company correspondents.
2. Loan Servicing Fees: Trinity services loans on behalf of 32 life insurance companies and other correspondents, earning ongoing servicing fees on the $2.2 billion portfolio.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels1 record

Core offering

Trinity Real Estate Finance, Inc. is a commercial mortgage banking company that originates and services mortgage loans on income-producing real estate, including office buildings, anchored and unanchored retail centers, regional malls, apartments, hotels, credit-leased properties, industrial warehouses and service centers, self-storage facilities, mobile home parks, and country clubs. Loans range from $1 million up to more than $100 million, accessed through a network of 32 life insurance company correspondents plus Fannie Mae, Freddie Mac, CMBS, REIT, pension, bank, and private equity sources. The firm complements origination with an ongoing loan servicing business that manages a portfolio exceeding $2.2 billion on behalf of its correspondents.

Product overview

Trinity Real Estate Finance is a commercial mortgage banking company offering a unified platform of mortgage financing and loan servicing products. The core offering consists of commercial mortgage loan origination services paired with ongoing loan servicing capabilities. The origination platform encompasses multiple loan products including fixed and floating rate debt, mezzanine financing, bridge loans, and construction/permanent financing, accessed through a network of 32 life insurance company correspondents, Fannie Mae DUS lenders, Freddie Mac sources, and CMBS originators. The servicing division manages a $2.2 billion portfolio on behalf of these correspondents, providing continued relationship management after loan closings. All financing products are available for income-producing properties including office buildings, retail centers (from neighborhood shopping centers to regional malls), apartment complexes, hotels, industrial warehouses, and self-storage facilities, with loan sizes typically ranging from $1 million to over $100 million.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Mortgage Loan Origination Arrangement of commercial mortgage loans on income-producing real estate (office, retail, apartments, hotels, industrial, self-storage, mobile home parks, country clubs), with loan sizes from $1 million to over $100 million, placed through a network of 32 life insurance company correspondents plus Fannie Mae, Freddie Mac, and CMBS sources. Targeted at commercial real estate investors and developers, primarily in Texas and nationwide.
• Commercial Loan Servicing Ongoing loan servicing on behalf of 32 life insurance company correspondents and other capital providers, covering borrower and lender relationship management, event and special servicing, and portfolio administration on the $2.2 billion managed book. Targeted at institutional capital providers.
• Fixed Rate Debt Fixed-rate commercial mortgage financing sourced through Trinity's network of life insurance company correspondents and other capital providers for income-producing real estate.
• Floating Rate Debt Floating-rate commercial mortgage financing placed with Trinity's correspondent lenders for income-producing real estate borrowers.
• Mezzanine Loans Higher-leverage mezzanine financing offered alongside senior debt for commercial real estate borrowers seeking additional capital through Trinity's correspondent lenders.
• Bridge Loans Short-term interim bridge financing for commercial real estate borrowers transitioning between property states or capital sources, arranged through Trinity's network.
• Construction/Permanent Financing Combined construction and permanent financing that converts to permanent loans upon project stabilization, for new development and substantial rehabilitation of income-producing real estate, arranged through Trinity's correspondent lenders.
• Forward Commitments Forward commitment financing available up to one year in advance for commercial real estate borrowers securing capital for future property acquisitions or developments.
• Fannie Mae Financing Access to Fannie Mae DUS (Delegated Underwriting and Servicing) lending sources for eligible commercial real estate borrowers arranged through Trinity.
• Freddie Mac Financing Financing options through Freddie Mac capital sources for qualified commercial real estate borrowers arranged through Trinity.
• CMBS (Securitized) Financing Commercial mortgage-backed securities financing through CMBS originators for properties meeting securitization criteria, arranged through Trinity.
• Equity Investments Equity investment participation arranged for select commercial real estate transactions through Trinity's correspondent lenders.

Quantifiable outcome

• Servicing portfolio has grown from $96 million in 1996 to over $2.2 billion today
• +1 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Real Estate Finance Associates (REFA)coreStrategic or Co-development PartnerTrinity is a member of REFA, a national affiliation of independent mortgage banking firms created in 1979, evolved from James W. Rouse & Company. REFA provides real-time information on capital markets, lenders, and lending conditions. Eight member companies with 20 offices across the US.

Scale indicators5 records

Broad incumbents

• JLL Capital Markets (Debt & Structured Finance): Global CRE services giant with a debt placement and structured finance practice that arranges senior debt, mezzanine, and bridge financing for institutional sponsors. Overlaps Trinity in life company, CMBS, and Fannie/Freddie distribution but with embedded investment sales and global sponsor coverage.
• CBRE Capital Markets: World's largest CRE services firm with a dedicated debt and structured finance group that places commercial mortgages through life insurance, CMBS, agency, and bank capital sources. Directly comparable debt brokerage franchise with materially greater scale, brand recognition, and integrated capital markets offerings.
• Newmark Group: Public full-service CRE services firm offering debt placement, investment sales, and structured finance through its capital markets group. Newmark's debt & structured finance business mirrors Trinity's correspondent-driven mortgage banking model, with broader sponsor relationships and integrated equity placement.
• Walker & Dunlop: Large publicly traded commercial real estate finance company that originates, services, and invests in CRE debt through Fannie Mae, Freddie Mac, HUD, life company, and CMBS capital sources. Directly comparable business model to Trinity but at vastly greater scale and with balance-sheet lending capacity that Trinity lacks. Walker & Dunlop is also a Trinity correspondent lender.
• Cushman & Wakefield (Debt Capital Markets): Global CRE services firm with a debt capital markets practice arranging fixed-rate, floating-rate, and bridge financing through life companies and CMBS sources. Directly comparable debt placement services to Trinity but bundled with full-service investment sales, valuation, and advisory offerings.

Direct peers

• Berkadia Commercial Mortgage: Joint venture between Berkshire Hathaway and Jefferies providing commercial mortgage origination, servicing, and investment sales across multifamily and other commercial property types. Operates a similar correspondent-driven mortgage banking model with strong life insurance company relationships, paralleling Trinity's core approach.
• Northmarq: One of the largest US commercial mortgage banking firms, originating and servicing debt for investors and developers across multifamily, office, retail, industrial, and self-storage. Directly comparable to Trinity in operating model, correspondent lender relationships with life insurance companies, and property-type coverage. Notably, one Trinity associate joined from Northmarq, indicating direct talent and workflow overlap.
• Hunt Real Estate Capital / Hunt Capital Partners: Commercial mortgage banking firm that originates and services loans for Fannie Mae, Freddie Mac, life insurance, CMBS, and bank capital sources. Directly comparable correspondent-driven business model with similar property-type coverage and Texas/Midwest operational footprint overlap.

Emerging players

• Marcus & Millichap (Capital Markets): CRE investment sales firm with growing debt and structured finance group arranging commercial mortgages for investors, frequently working alongside or competing with regional mortgage bankers like Trinity. Comparable mid-market debt placement focus, though heavily concentrated in smaller multifamily and retail transactions.
• Eastern Union Funding: Privately held commercial mortgage brokerage arranging debt for commercial real estate investors and developers nationwide. Comparable mortgage broker/correspondent business model focused on arranging permanent, bridge, and construction financing through multiple capital sources.

Market position

Strengths5 records

Weaknesses5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/trinity-real-estate-finance-inc-

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 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 Trinity Real Estate