The goal of Mixed Reality (MR) is to achieve a seamless and realistic blending between real and virtual worlds. This requires the estimation of reflectance properties and lighting characteristics of the real scene. One of the main challenges within this task consists in recovering such properties using a single RGB-D camera. In this paper, we introduce a novel framework to recover both the position and color of multiple light sources as well as the specular reflectance of real scene surfaces. This is achieved by detecting and incorporating information from both specular reflections and cast shadows. Our approach is capable of handling any textured surface and considers both static and dynamic light sources. Its effectiveness is demonstrated through a range of applications including visually-consistent mixed reality scenarios (e.g. correct real specularity removal, coherent shadows in terms of shape and intensity) and retexturing where the texture of the scene is altered whereas the incident lighting is preserved.