German-based international real estate investment firm Manova Partners is seeking to raise $300m to $400m (€255.6m to €341m) for a new Mexican industrial and logistics real estate investment venture.
Manova has launched the new vehicle with a 279,000sqm seed portfolio of ten assets, mainly located in Mexico City and Tijuana. The vehicle also has a forward pipeline of twelve potential assets located in Tijuana, Monterrey and the greater Mexico City area.
The venture is targeting an internal rate of return of approximately 17% over a seven-year term.
Christian Goebel, co-CEO of Manova Partners, said: “With this initiative, we are creating an investment platform that perfectly combines market opportunities in the Mexican industrial segment with our local expertise.
“Our teams have been active in Latin America for many years and possess a deep understanding of the regulatory, economic and operational environment in the region.”
Oltmann Ahlers, head of Latin America at Manova Partners, said: “Mexico is currently undergoing structural growth driven by geopolitical trends, shifts in the supply chain and a young, skilled workforce.
“This combination of demand, location advantages and limited supply creates an extremely attractive environment for investors.”
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