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AUSTIN, TEXAS — Third Avenue Management LLC, an investment advisory firm based in New York City, has entered the Texas market with the opening of a new office in Austin. The firm has maintained a satellite office suite in downtown Austin since 2017 and is expanding it into a regional office as it adds staff to support its expansion efforts in the state capital. Ryan Dobratz, who oversees the management of the firm’s real estate fund, will lead the new office, which has also undertaken a specific initiative to invest in select real estate and businesses that have been adversely impacted by COVID-19.