What does not travel is local knowledge: which street is about to change, which counterparty honours terms under pressure and which structures create problems three years after signing. That gap is where returns quietly disappear, and it rarely shows up in the underwriting.

Novalia Capital exists to close it. We work in a small number of markets we know directly, underwrite from the downside up, structure before we discuss price and stay involved long after close.

Thanos Thoma, Founder

Thanos founded Novalia Capital after more than a decade in real estate, finance and alternative investments, with experience spanning transactions and portfolios exceeding €2 billion in combined value.

He is CFA and ACA qualified. His background covers opportunity evaluation, end-to-end private equity transactions, financial modelling, valuation and portfolio monitoring after close.

He also founded Nuleeo, created in response to the practical difficulty of managing fragmented real-estate ownership across several markets at once—the same problem Novalia addresses from the capital side.