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Mar 30, 2023

Introduction to Commercial Mortgage-Backed Securities

  • CMBS provide exposure to Commercial Real Estate without direct investment in properties.
  • CMBS are designed to allow investors to customize risk and return by choosing where in the capital structure to invest.
  • Active management of property-type exposure can potentially enhance returns through a variety of economic cycles.

Read more about why DoubleLine believes that actively managing investments across bond structures and property types gives investors the ability to successfully navigate through a variety of economic cycles.

About the Author

About the Author

  • Morris Chen

    Structured Products - CMBS

    Morris Chen

    Structured Products - CMBS

    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.