Dave,
I also want to welcome you to the T. Rowe Price Fund Family Forum.
I don't own T-Rex, but I do own some TAREX, which is conveniently available through my 401k. I have my Real Estate allocation equally divided between TAREX and EGLRX, Alpine International Real Estate fund. When I bought EGLRX a few years ago it seemed to do more zigging when the market was zagging. I also owned it in a Roth before TAREX became available in the 401k. Currently, EGLRX seems to be more correlated with Asian stocks. It does have a health dose of RE from that part of the world. Imagine that! Anyway, I was thinking of selling EGLRX, and doubling TAREX to the 6% portfolio RE allocation. TAREX has become more global in its holdings lately, so I don't think I need both funds anymore.
That's my story, and I'm sticking with it:^)
Coy