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Viewpoints Commercial Mortgage-Backed Securities: Approaching the Later Innings of a Recovery Commercial Mortgage-Backed Securities: Approaching the Later Innings of a Recovery The rapid recovery in the sector since the financial crisis warrants cautious optimism.
Viewpoints Credit Availability Underpins Recovery in Commercial Real Estate Prices, But Also Poses Risks to CMBS Investors Credit Availability Underpins Recovery in Commercial Real Estate Prices, But Also Poses Risks to CMBS Investors While positive for CRE valuations, loosening lending standards could lead to longer-term risk in commercial mortgage-backed securities.
Viewpoints The Benefits of Active Management Are Clear, Especially in the Securitized Mortgage Market The Benefits of Active Management Are Clear, Especially in the Securitized Mortgage Market Since the financial crisis, opportunities for active management have become even more robust.
Bryan Tsu Portfolio Manager, CMBS and CLO Share Add Download Print Mr. Tsu is an executive vice president and portfolio manager in the New York office, focusing on commercial mortgage-backed securities (CMBS) and collateralized loan obligations (CLOs). Prior to joining PIMCO in 2008, he worked at Bear Stearns in New York, syndicating collateralized loan and collateralized debt obligations and other asset-backed transactions. He has 12 years of investment experience and holds a bachelor's degree in economics and operations research from Columbia University.