Joshua Thomas
Houlihan Lokey
TexasMcCombs
Managing Partner
Joshua Thomas is the Managing Partner of Capital Stack, where he leads paid advertising, client acquisition and business development. He joined from Houlihan Lokey, where he valued real estate for the largest mega funds, hedge funds and public REITs.
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At Capital Stack he directs every campaign the firm runs, from the strategy and creative behind each Meta ad to the numbers that decide where the next dollar goes. He is also the first conversation every new sponsor has with the firm.
At Houlihan Lokey he valued assets public and private, from data centers, hotels and powered land to multifamily and retail, and from single properties to national portfolios. Before that he was an equities analyst at B&I Capital in Zurich, a regulated Swiss asset manager investing in listed real estate for pension funds, endowments and institutions. He began on the transaction side at Trinity Real Estate Investment Services in Austin, a net lease firm with more than four billion dollars of closed volume.
His first lesson in advertising came at nineteen, when he took Pyros, a mosquito repellent brand he built, to page one of its category on Amazon. He holds a BBA in Finance with a concentration in real estate from the McCombs School of Business at The University of Texas at Austin.



