DoubleLine Capital LP sees opportunity in the commercial real estate market despite mounting fears over the industry.
A darkening outlook for office properties, looming debt maturities and regional bank upheaval has spurred a dramatic repricing in commercial mortgage-backed securities. As concern continues to spread, that’s created an attractive entry point for higher quality credit, according to Morris Chen, who manages the DoubleLine Commercial Real Estate exchange-traded fund (ticker DCMB), which launched last week.
Mr. Chen joined DoubleLine at its inception in 2009. He is a Portfolio Manager leading the CMBS/CRE Debt Investment team and CRE New Investment Review Group, and is responsible for the oversight and management of all CRE Debt related investments at DoubleLine. Mr. Chen is a permanent member of the Fixed Income Asset Allocation and Structured Products Committees providing valued insight into the CMBS sector. He is also an active participant and speaker at CREFC events. Prior to DoubleLine, Mr. Chen was a Vice President at TCW where he was responsible for CMBS credit analysis and trading from 2004-2009. He holds a BS in Business Administration with concentrations in Business Development and Finance from the University of California, Riverside.
