RiverOak Investment Operating Strategies
RiverOak is focused.
We have a history of finding underutilized, distressed assets and capitalizing on value-added opportunities…of discovering unique assets with strong upside potential…of working with seasoned development and management partners and borrowers who are both strategically and tactically focused on their own specific areas of expertise.
We thoroughly research the macro trends that affect our investment sectors; monitor the regional and local geographic and demographic shifts that are at work in those sectors; and assess the business climate and operating environment that will impact a specific development, redevelopment, or repositioning project.
We then apply that research to identify niche investment strategies that we believe will outperform the overall market on a risk-adjusted basis.
We structure both investment funds and separate accounts to meet the specific requirements of our clients, and we are a direct investor in select operating assets.
About Us
Your Trusted Partner in Real Estate Investments
RiverOak pursues opportunistic and value-add asset purchases and operational opportunities on behalf of a diversified set of investors ranging from institutions to individuals.
Our clients view the world of investment as one that is constantly evolving – not as an indiscriminate whole, but in discrete, specialized sectors where highly experienced developers and sponsors are creating and enhancing value in such areas as healthcare, student housing, office, urban gilt-edged retail projects, and a host of challenging asset management turn-around situations.
For over 23 years we have built both our investment business and our reputation on being able to find, research, winnow-out and invest in the types of assets that typically achieve above-average returns on a risk-adjusted basis. While our real estate investments are targeted in the $1 million-to-$5 million range, our operating asset investments can range anywhere in size from $1 million to over $50 million.
I. ACUITY
A sharp focus on niche sectors where risk-reward meets best-in-class assets and operators. More than 23-years of delivering results in value-add assets.
II. ACCESS
A robust pipeline of opportunities; a direct line to the people who make them happen. A national project-source network complemented by first-hand relationships with sponsors, borrowers, and private equity partners who develop, redevelop and reposition assets based on niche sector know-how and expertise.
III. AGILITY
A bias for action; an ability to move quickly. Tempered by experience, fueled by in-depth research, and seasoned with investment judgment.
Executive Management
Stephen DeNardo
CEO & Founding Partner
Within a timeframe that spans 4 decades of business experience, Steve DeNardo has successfully been involved in all phases of investment, development and management. His focus and interest has been on the management and turnaround of troubled assets. As a Partner or Principal in two national companies and a senior member of the management team in two additional companies, his experience includes more than 50 years of acquisition, disposition, development and financing of commercial investments throughout the United States, Canada and Europe. Mr. DeNardo most recently was Partner and Senior Vice President at ING, where he managed a $1 billion capital assets portfolio. Mr. DeNardo started his asset management career in New York City where he was COO of The Chrysler Building. He has held a license as a Certified Public Accountant since 1978 and has a B.S. in Accounting from Fairleigh Dickinson University. In addition, Mr. DeNardo serves as an independent director and chair of the audit committee for Bermuda-based Brookfield Property Partners.
Louis Mirando
Managing Member
Mr. Louis Mirando is the CEO of Streamline Realty Funding, LLC, and is a Managing Member of RiverOak Capital, LLC. He has over 38 years’ experience in nationwide commercial real estate lending, initially with Chase Manhattan Bank and later, The Mutual Life Insurance Company of NY (“MONY”), directly responsible for more than $4.0 Billion of loans including loan administration. He is considered an expert in the creation of the interdependent JV model, having created multiple platforms with blue-chip institutional partners. These were directly responsible for producing billions in CRE investments in the US. Since 1991, Lou established joint ventures with Morgan Stanley, Credit Suisse, Nomura Securities, Och-Ziff, and Cooper-Horowitz. In 1996, he became CEO and owner of Transatlantic Capital Company, a venture with the largest Bank in Germany, leading to Deutsche Bank Mortgage Capital. In 2004, he became Co-Head and Managing Director of CMBS Originations for Euro-hypo AG. He has been an adjunct professor at NYU’s Schack Real Estate Institute, named Honorary Banker of the Evening in 2005, Mr. Mirando is a graduate of Villanova University and a 10-year council member of its Center for Real Estate, taught and designed the inaugural CRE course for its MBA program and set up the executive CRE intensive seminar. He was elected Chair for Fordham University’s Executive Advisory Council for 2020-2021. Lou is a licensed New York State Real Estate Broker. He is active in causes supporting people with Down’s syndrome. Lou has been an active Volunteer Fireman for more than 20 years.
John Mirando
Managing Member
John Mirando is a Managing Member of RiverOak Capital, LLC and is currently the Head of Debt Originations. In addition to directly originating over $200.0M in floating-rate transitional bridge loans, John is responsible for the implementation and execution of the deal sourcing, screening, and registration process that reviews over $10.0Bn in CRE debt opportunities across the U.S. annually. Previously, John was hired by Iron Hound Capital in 2014, a CMBS conduit joint venture with Bank of New York. From its inception in 2014 through 2016, Iron Hound Capital originated, closed, and sold over $1.5Bn in fixed rate CMBS loans. John was responsible for providing deal support and the development of a pipeline management system. As transaction activity and deal volume increased, John played an integral role in establishing Iron Hound's internal securitization process and procedures, including management reporting. Prior to joining Iron Hound Capital, John was a Financial Analyst at Barclays from 2012-2014 and selected into Barclay's executive management program, where he held a variety of reporting roles that included validating the integrity and accuracy of financial statements and ensuring Barclays fulfills its external and internal reporting requirements. John has a B.S. in Finance from St. John’s University.
Mark Kelly
Senior Vice President & Controller
Mark Kelly is responsible for the accounting and taxation of RiverOak Investment’s Funds and managed assets. He has more than 20 years of Fund accounting experience and was most recently Portfolio Controller with Ashkenazy Acquisition Corp., where he was responsible for 3 million square foot portfolio of retail properties. Prior to Portfolio Controller, he was a Regional Controller for Broadway Partners and responsible for the financial reporting of a 6 million square foot office portfolio. From 2000 to 2006, Mr. Kelly was the Controller for Halpern Real Estate Development, an owner and manager of office and multi-family residential properties. He worked at Northstar Presidio Management as both an Assistant Controller and Asset Manager in the late 90’s. From 1991 to 1998, Mr. Kelly was the Accounting Manager at Newkirk/Odin, manager of more than 150 investment partnerships. He holds a Bachelor of Science degree in Accounting from Fordham University.
Peter Hearst
Founding Partner
Peter has been an investor, Director, or Chief Executive of 5 businesses. He personally founded, or co-founded, and successfully built three different start-ups into industry leaders, two of which were sold for over 100 times the invested capital. He has also been a key advisor and Board member of Bankcard, Inc. from its inception to its sale for over $60 million to a Fortune 500 Company. Upon graduation from Harvard University, which he attended on a full government scholarship, he became an active duty naval officer for three years and was then recruited by Northwestern Mutual where he became the leading new salesman and later the youngest officer in the company. Currently, he is a Founding Partner and Advisory Board Member of the RiverOak Investment, Corp. He has served on the Boards of a number of industry associations, including President of the Managing Partners Association, and has been active in his community, serving on the Boards of The Chapin School, Everett School and Big Brothers of New York City.
In Memoriam
Walter B. Wriston
Walter B. Wriston was a founding member and supporter of RiverOak Investment Corp. His early contributions to the firm went well beyond capital and contacts. Walter assisted in shaping an ethos for our fledgling enterprise and became a mentor to our principals.
He was the former chairman and CEO of Citicorp. As chief executive of Citibank / Citicorp (later Citigroup) from 1967 to 1984, Walter was widely regarded as the single most influential commercial banker of his time. During his tenure as CEO, the bank introduced, among other innovations, automated teller machines, interstate banking, the negotiable certificate of deposit, and "pursued the credit card business in a way that no other bank was doing at the time" . With then New York Governor Hugh Carey and investment banker Felix Rohatyn, Walter helped save New York City from bankruptcy in the mid-1970s by setting up the Financial Control Board and the Municipal Assistance Corporation, and persuading the city's union pension funds and banks to buy the latter corporation's bonds.
He served as Chairman of The Business Council in 1981 and 1982. From 1982 to 1989, Walter was chairman of President Ronald Reagan's Economic Policy Advisory Board, and in June 2004 awarded the Presidential Medal of Freedom, the nation's highest civil honor, by President George W. Bush.
Walter’s spirit lives on in the work we do.
Investor Portal
Easy Access to Your Investment Portfolio
Our Investor Portal includes an easy-to-read Dashboard for a summary of all your investments. It’s designed to keep complex investment information simple and organized.
Understand Your Investments’ Assets
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