John Spengler

John joined Thomas Company in 2023, bringing over two decades of comprehensive commercial real estate expertise across the entire debt and equity capital stack, both as a principal and agent. His extensive background equips the firm with a sophisticated understanding of complex financial structures and capital markets.

John began his commercial real estate career at Morgan Stanley, where he worked with the firm’s largest life company clients. His responsibilities included commercial real estate origination, fund financing, and developing investment and hedging strategies to manage interest rate and credit risk. During his tenure, John played a pivotal role in advancing innovative financial products, including the industry’s first commercial real estate credit default swaps.

As a co-owner and former executive of A10 Capital, a private equity-backed specialty finance company and private REIT, John further cemented his reputation as a leader in structured finance. A10 Capital originated senior and subordinate fixed and floating rate debt for its balance sheet and institutional third-party life companies in the U.S. and U.K. and issued the first post-crisis CRE CLO in 2012. Under John’s leadership, the company pioneered blind pool financing structures in both CRE CLO and CMBS securitizations.

In addition to his leadership roles, John has managed real estate debt portfolios for some of the world’s largest technology companies, including Apple. His career is defined by a deep understanding of the capital stack at both the transactional and institutional levels, along with a track record of creative, structured real estate transactions.

Beyond his professional achievements, John serves on the advisory board of one of the Pacific Northwest’s largest affordable housing developers and investors. He resides in Sun Valley with his wife and family, where he enjoys supporting the local mountain bike community, coaching lacrosse, and raising exceptional ski racers. His diverse expertise and personal passions make him a valuable asset to Thomas Company and the broader real estate community.