May 20, 2020
Real Estate Value

Third Avenue Management Expands Operations in Austin, Texas

NEW YORK – Third Avenue Management LLC (“Third Avenue”), a New York-based investment advisor, today announced the expansion of its operations in Austin, Texas.  Ryan Dobratz, Co-Lead Portfolio Manager of the Real Estate Value Fund and member of Third Avenue’s Management Committee, will manage the office and oversee the strategic initiatives.

Mr. Dobratz said, “For nearly three decades, Third Avenue has specialized in making contrarian investments into the securities of asset-rich companies and supporting those enterprises over the long-term. By expanding the Firm’s footprint, and adding further analytical resources to support our efforts in assisting real estate-related businesses that have been adversely impacted by recent events, Third Avenue will be uniquely placed in its pursuit of long-term wealth creation for its stakeholders.”

Jason Wolf, Co-Lead Portfolio Manager of the Real Estate Value Fund and member of Third Avenue’s Management Committee, said, “Third Avenue’s long-standing business continuity plan has allowed its operational capabilities to remain uninterrupted amidst recent shelter-in-place orders. Further, the investment team’s well-established process has allowed it to navigate through recent market conditions. While New York will remain the Firm’s headquarters, now is the right time to establish an even more resilient structure with our regional office in an innovative urban market.”  

Mr. Wolf added, “It is also an opportune time to add talent to the investment team as Third Avenue dedicates additional resources to making capital infusions into real estate and real estate-related businesses that seem well-placed to compound capital over the long-term.”

The Firm is seeking to add a Real Estate Securities Analyst in its Austin, TX office. Ranked as “One of the Best Places to Live™” by U.S. News and World Report, Austin is one of the fastest growing metropolitan areas in North America, strategically located to support the Firm’s investments in the residential and commercial sectors, and one of the leading real estate technology (proptech) hubs globally. Additional details pertaining to the opportunity can be found at

Third Avenue Management has also undertaken an initiative to assist select businesses that have been adversely impacted by the unprecedented contraction in economic activity stemming from the Covid-19 pandemic. On the behalf of Funds it manages, Third Avenue is evaluating credit-enhancing and non-control investments into the securities of publicly-traded enterprises that are: (i) comprised of strategic real estate and real assets; (ii) listed in North America or Western Europe with an equity market capitalization of $250 million to $2.5 billion USD; and (iii) positioned to utilize incremental capital in order to address near-term obligations or fund value-enhancing capital expenditures as well as bolt-on acquisitions.

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