Manova Partners: Targeting data centres and value-add real estate

In an era of consolidation, Manova Partners is charting a deliberately divergent path. By establishing itself as an independent, employee-owned boutique platform, the firm is prioritising client-centric asset management and niche growth over massive fund scale, according to co-CEO Christian Goebel.

Christian Goebel

Speaking to CRE Media Europe at EXPO REAL, Goebel outlined how the former Macquarie division is adapting to a post-zero-interest-rate environment.

Goebel underlined that the shift away from a mega-manager model allows Manova Partners to deliver hyper-tailored services to institutional clients navigating complex market conditions.

"Everybody in this industry is merging and getting bigger and bigger, but we realised a lot of investors want very bespoke, client-centric services," Goebel explained. "We're not going for scale, standardization, and automation. We thought that as a smaller independent boutique, we're much better set up to serve these investors and solve complicated problems for smaller portfolios."

Value-add, data centres and residential

While historically recognised for core and core-plus strategies in office and logistics, Manova Partners is expanding its capability suite higher up the risk-return spectrum.

The company is expanding local asset management teams to execute active, value-add turnaround strategies for complex or underperforming portfolios.

It is also partnering with a specialised developer to enter the data centre segment, focusing on a differentiated operational model to stand out in a crowded market.

Additionally, it is expanding beyond German residential investments into target markets like Copenhagen, alongside selective entries into hospitality.

Manova Partners is continuing its deep-seated strategies in CEE, where it has transacted €5bn since 2004.

In Europe, the firm actively invests across 13 countries. Goebel highlighted ongoing conviction in Italian offices and logistics, alongside stable footprints in Poland, the Czech Republic, and Hungary through dedicated regional offices in Warsaw, Prague, and Budapest.

Opportunities for family offices

Commenting on current market conditions and lender sentiment at EXPO REAL, Goebel noted that persistent geopolitical tension, sticky inflation, and shifting interest rate expectations continue to weigh on standard institutional deployments.

However, these dislocations are opening new avenues for non-traditional capital. "Subdued institutional markets open up a lot of opportunities for players like family offices to step in and take advantage of heavily corrected pricing," Goebel noted. "We are working increasingly with these investors who have the flexibility to capitalise on current market conditions."

Branislav Pekic