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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