Mr. Kravit joined Cerberus in 1996. Prior to joining Cerberus, Mr. Kravit was a Managing Director at Apollo Real Estate Advisors, L.P., from 1994 to 1996, where he was responsible for new business development, acquisitions and asset management.

Prior to his tenure at Apollo, Mr. Kravit was a Managing Director at G. Soros Realty Advisors/Reichmann International, an affiliate of Soros Fund Management, from 1993 to 1994.

Before joining Soros, Mr. Kravit was Vice President/Chief Financial Officer at the Maxxam Property Company in Houston from 1991 to 1993 and Vice President with Miller-Klutznick-Davis-Gray Co. in Los Angeles and Chicago from 1984 to 1991. From 1979 through 1982, Mr. Kravit was an accountant. Mr. Kravit is a certified public accountant.

Mr. Kravit is a graduate of Georgetown University and received an M.B.A. from The Wharton School of Business at the University of Pennsylvania. Mr. Kravit is a member of the Cerberus Capital Management Operating/Management Advisory Committee, Real Estate Investment Committee, and NPL Committee.