„Flexibility and decisiveness are key.“
Jakob Mähren, CEO
Long-term entrepreneurial success is based on several factors. The sum of the right strategic decisions is crucial. But how do you make the right decision, especially at a time when a historic market phase is coming to an end and the market is picking up?
The Management Board members of MÄHREN AG Jakob Mähren (CEO), Simon Laube (CFO) and Dennis Rekittke (COO) provide answers.
Yes, the timing of important strategic decisions is an important key to success. It’s not about what you would like to do, but about the market environment in which you find yourself and whether a planned step makes sense and is feasible.
When I decided to set up a company and later founded other companies, it was always the result of a thorough market analysis. Today, for example, I would make completely different decisions, as market conditions have changed completely in recent years.
When market conditions change rapidly, as we are currently experiencing, it is fundamentally important to be structurally well prepared. You must have created the conditions to be able to flexibly adapt the company’s business model, strategy and working methods and must not wait too long to make important decisions. In such situations, it is more important than ever to act quickly!
In this specific example, we have recently been able to significantly increase our equity ratio in order to be able to react quickly to the changed situation in the future. Shortly beforehand, however, we had originally decided on a different strategy.
The key is to recognize the right time to adjust the strategy. When the market picks up noticeably, as it is currently the case, speed is an important success factor. That’s why we are making targeted purchases right now!
Two things: get advice and develop a feel for your business! I firmly believe that you have to set up all company structures optimally and make decisions analytically. However, I am also fundamentally open-minded, constantly question things and like to seek advice, even before making important decisions. I am constantly talking to representatives of the real estate industry and experts from completely different sectors. A good network is worth its weight in gold.
This approach and my increasing professional experience give me the freedom to rely on my own instincts as well as all the analytical principles. And that of my team.
The market landscape has shifted dramatically within a year. After a rapid rise in interest rates, we’re now seeing a phase of stabilization and the first rate cuts in both Europe and the U.S. This development is driving noticeable movement – many market participants are currently reassessing their positions.
At MÄHREN, we anticipated early on that the high-interest-rate phase wouldn’t last forever, and we kept our strategy flexible accordingly. While others were forced to halt projects or sell under pressure, we were able to seize targeted opportunities – especially in condominiums and existing properties in Berlin and North Rhine-Westphalia.
Liquidity remains the key success factor – particularly in uncertain times. Our goal has always been to maintain a solid footing: with conservative financing structures, robust cash flows, and efficient reporting.
We also invest a lot of time in scenario analysis. This enables us to act quickly and thoughtfully, even as conditions change. Today, it’s no longer enough to simply “run a good business” – you have to think dynamically and anticipate how financing markets, regulations, and buyer behavior are evolving.
We benefit from long-standing, well-established banking relationships. Our partners know they can rely on clear communication and full transparency with us. That’s crucial right now – banks are becoming more active again, but their reviews are very thorough.
We provide not only complete property documentation but also a consolidated view of our entire portfolio, including performance metrics, reserves, rental trends, and more.
This simplifies the credit review process – and the feedback has been consistently positive.
In addition, we rely on data-driven reporting, which we’ve continued to professionalize in recent years. This allows us to automate much of the data preparation and respond quickly to new demands – whether for refinancing requests or new deals.
Absolutely. We’re seeing price corrections of 15–30% in many submarkets compared to the peak periods. At the same time, demand for housing – especially in Berlin and North Rhine-Westphalia – remains strong. Falling interest rates are providing additional momentum.
Those who have the necessary capital and experience today can transition from a defensive position to a strategic offensive. We continue to closely monitor where opportunities arise and invest in a targeted manner. Our approach is long-term – with foresight, but without ignoring risk.
The basic prerequisite: you have to be prepared for the storm. We are currently seeing that market events can change really quickly, and if you can’t adapt your internal work processes in the shortest possible time, you run the risk of disaster. For this reason, we have been focusing on the consistent digitalization of our processes for years. This enables us to adapt strategies and make the right decisions.
Unexpected changes can only be managed with a well-coordinated and committed team. You need trust and a move away from internal silo thinking. If you don’t pull together when the sea is calm, the problems will multiply when the storm hits.
The management board and teams need the same philosophy and work ethic, then upheavals can even lead to positive results. In any case, surprising challenges must be solved flexibly. I firmly believe that short decision-making paths and strong decision-makers help.
Last but not least, it is absolutely essential to be prepared for all regulatory changes. The requirements here are constantly increasing. Only those who have a clear view of the complex regulations in times of change will weather the storm and be successful in the long term.
The demand for energy efficiency is increasing. For this reason, we are increasingly looking at the energy class when purchasing new properties and planning how we can improve this with targeted measures.
It is important to build up extensive know-how at an early stage, to be familiar with regulations and to keep a close eye on the issue of subsidies. For this reason, we have expanded our asset management team in this area.
