A New York fund company has suggested it's chomping at the bit to take advantage of value opportunities in the real estate arena.
As a result, Third Avenue Funds
-- appropriately headquartered at a 3rd Avenue address in Manhattan -- has decided to re-open its $3 billion Third Avenue Real Estate Value Fund
, which closed to new investors in July of last year.
The fund will be available to new investors once again on July 1, reports Reuters
, in order to better tackle "the favorable market environment for value opportunities" in real estate companies at home and abroad. Returns this year to date are approaching 5 percent.
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