Expert Advice from Experience.

ThornOak Capital is a commercial real estate advisory and investment firm specializing in complex debt and equity restructuring with a primary focus in the CMBS sector. ThornOak helps borrowers and holders of sub and non-performing commercial real estate debt navigate the opaque landscape of loan workouts and special servicing.

Through deep industry relationships, ThornOak sources exclusive off-market distressed opportunities in both the public and private commercial real estate sector and raises the capital needed to facilitate such transactions.

ThornOak was founded by real estate veterans James Caldero and Darren Gluck, former colleagues at LNR Partners. After leaving LNR, James and Darren moved on to other leadership positions in real estate finance. They reunited in 2020 after recognizing the opportunities of a changing economic and commercial real estate landscape.

ThornOak’s mission is to provide creative restructuring ideas and sound advice to all commercial real estate participants including banks, funds, owners and special servicers.