Cooper Horowitz forms new enterprise. (Rhodes Capital Advisors L.L.C.).

Cooper Horowitz announced the formation of a new affiliate, Rhodes Capital Advisors L.L.C., in concert with Louis Mirando and James Howard. In the 1990's, the same players teamed up in a similarly named Rhodes entity, which propelled Cooper Horowitz into a prominent position as an originator of commercial mortgages. The previous Rhodes Capital Company established conduit relationships with Morgan Stanley, Nomura Securities, and Deutsche Bank, NA.

Barry Horowitz, chairman of Cooper-Horowitz, has a different vision for the new entity. "Given the maturity of the CMBS industry and the market saturation on the debt side, Rhodes Capital Advisors' mission will be different. Cooper Horowitz has been a leading commercial real estate debt shop.

"We will leverage on that experience with Rhodes Capital Advisors and build an equity placement business of equal magnitude."

Mirando and Howard will head up the new entity. Both have returned to the real estate finance business after a three-year hiatus. According to Mirando, "The market is ripe for bringing order to a very fragmented business. Our primary mission will be to match need with availability."

Rhodes Capital Advisors will also invest its own funds in certain opportunities. Rhodes will seek formalized co-investment relationships with select partners for this aspect of the business. According to Howard, "Three transactions are already in process. Our experience and track record as a fiduciary will be at the fore front of our efforts here."