Peter Levine

Peter B. Levine is an Investment Director at Black Bear Asset Management ("BBAM"). Mr. Levine is responsible for advising on acquisitions, dispositions, financings, re-financings, asset management, development and redevelopment of multifamily, office, retail, hotel, land and other property types.

Mr. Levine has over 40 years of experience in the field of commercial real estate. Prior to joining BBAM, he was a Managing Director at Citigroup Global Markets in the Global Securitized Markets Group. At Citigroup, he supervised a team responsible for making proprietary commercial real estate investments and the origination of commercial mortgage loans. Prior to Citigroup, Mr. Levine enjoyed a lengthy career at Salomon Smith Barney (previously Salomon Brothers). While at Salomon Brothers, he provided real estate consulting services to the Resolution Trust Corporation advising them on the disposition of billions of dollars of commercial mortgage loans from failed thrifts and savings and loans. Mr. Levine began his career in 1975 as a commercial mortgage lender at Mutual Benefit Life Insurance Company and also worked for a division of Lehman Brothers specializing in advising Fortune 500 corporations on the management and disposition of surplus properties. Mr. Levine possesses a broad range of experience and expertise in various

aspects of commercial mortgage finance. In addition, he has had significant experience in resolving problem investments, as well as buying and selling commercial mortgage loans in the secondary market.

Mr. Levine holds a B.S. and an M.B.A. from Syracuse University with majors in Real Estate and Finance.