Seeking Alpha

Third Avenue Real Estate Value Fund Portfolio Manager Commentary Q3 2018

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About: Sears Holdings Corp. (SHLDQ), FCE.A, BKGFY, SNLAY, SNLAF, JBGS, TAREX, TVRVX, TARZX, Includes: CHKGF, CNGKY, FPH, HLDCY, HLDVF, LEN, LOW, MAC, PNC, RYN, TPHS, TRC, UHAL, WHLKF, WHLKY, WY
by: Fund Letters
Summary

Third Avenue’s value-oriented real estate strategy seeks long term capital appreciation by investing globally across an expansive universe that includes both real estate and real estate-related securities worldwide and across the capital structure.

Includes detailed analysis of Third Avenue Real Estate Value Fund's positions in SHLDQ, FCE.A, BKGFY, SNLAY, SNLAF, JBGS.

Through the first 9 months of the year, the Fund generated a return of -7.49% (after fees) versus +0.76% (before fees) for the Fund's most relevant benchmark, the FTSE EPRA/NAREIT Developed Index.