Mr. Stelzer is Head of Real Estate Debt, overseeing Cerberus’ investments in commercial real estate-related loans, commercial mortgage-backed securities (CMBS), and other commercial real estate securities.

Prior to joining Cerberus in 2008, Mr. Stelzer was at Morgan Stanley for 10 years in various senior roles. Most recently, he was a Managing Director in the Global Proprietary Credit Group, where he managed CMBS and other commercial real estate securities and loan trading activities. He also held the position of Head of CMBS Trading in the Securitized Products Group at Morgan Stanley, where he led all proprietary and flow trading of cash and synthetic CMBS, real estate CDOs, Fannie Mae DUS, and GNMA project loans. Earlier in his career, Mr. Stelzer held roles at Salomon Smith Barney and JMB Real Estate Investment Group.

Mr. Stelzer graduated from the University of Pennsylvania and received an M.B.A. from the University of Pennsylvania’s The Wharton School.