Third Avenue Management, an investment management company based in New York City, released its “Third Avenue Real Estate Value Fund” fourth-quarter 2025 investor letter. The Third Avenue Real Estate Value Fund posted a return of +11.61% (after fees) in the calendar year, compared to the MSCI ACWI IMI Core Real Estate Index’s +9.86% (before fees) return. Since its inception in 1998, the Fund has generated an annualized return of +8.96% (after fees). This year marks the 40th anniversary...
Third Avenue Real Estate Value Fund’s Q4 2025 Investor Letter
