Manova Partners celebrates first acquisition under new brand

Photo credit: Joel Avila/Hawkeye Photography

San Francisco CA, 05th June 2025. Manova Partners is excited to announce that we’ve added another great asset in California to our growing U.S. portfolio. Parallel on Fourth is a recently completed, 71,254 square foot (6619 m²) mixed-use office and residential property in the heart of San Mateo, one of the most affluent and dynamic regions in the U.S., lying between San Francisco and Silicon Valley. The 62,238 square feet (5782 m²) of office space are fully leased and occupied and forms part of the global headquarters of Verkada, one of Silicon Valley’s fastest growing AI-driven security hardware startups. Verkada also master leases most of the 15 residential units. Parallel on Fourth is close to major bridges and freeways, as well as San Francisco International Airport and local commuter trains.

This transaction is the first acquisition under our new brand and shows again that our boutique approach with local teams directly in our target markets allows us to identify and execute unique deals on behalf of our investors.

Thanks to the many of our U.S. professionals, as well as teams in Munich, that were involved in sourcing, researching, and closing this deal.